Booming Aesthetics: Global Aesthetic Medicine Market Projected to Reach Over 149.06 Billion Billion by 2030

The global aesthetic medicine market is experiencing phenomenal growth, driven by a rising desire for minimally invasive procedures that enhance appearance and promote a youthful look. According to a recent report by Reports and Data, the market is expected to surpass a staggering 149.06 Billion by 2030, reflecting a significant Compound Annual Growth Rate (CAGR) of 9.9 %.

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Market Overview and Trends

The aesthetic medicine market encompasses a wide range of non-surgical and surgical procedures designed to improve facial aesthetics, body contouring, and skin health. Fueled by several key trends, this market is witnessing a surge in demand:

Growing Emphasis on Appearance: Social media's pervasive influence and a heightened focus on aesthetics are driving consumer interest in procedures that enhance physical appearance.

Technological Advancements: The development of safer, more effective, and minimally invasive technologies is attracting a wider demographic to aesthetic procedures.

Shift Towards Personalization: The market is witnessing a shift towards personalized treatment plans, with a growing demand for customized solutions tailored to individual needs.

Aging Population: The global population is aging rapidly, leading to an increased demand for procedures that address age-related concerns.

Market Drivers and Restraints

Several factors are propelling the growth of the aesthetic medicine market:

Rising disposable income: Increased disposable income, particularly in developing economies, empowers individuals to invest in aesthetic procedures.

Increased awareness: Growing awareness of aesthetic treatments and their positive outcomes through media and celebrity endorsements fosters interest.

Focus on preventive care: A growing trend towards preventative healthcare is leading individuals to seek aesthetic procedures for early intervention.

However, certain restraints may hinder market expansion:

High cost of procedures: The cost of aesthetic procedures can be a deterrent for some consumers, especially in regions with limited healthcare coverage.

Potential side effects: While minimally invasive, some procedures can carry potential side effects, requiring thorough consultation with qualified professionals.

Stringent regulatory environment: Stringent regulations governing the use of medical devices and injectables can impact market growth in certain regions.

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Key Market Insights

Implants segment is expected to register a rapid revenue growth rate during the forecast period owing to rising demand of patients for facial aesthetic medicinal treatments, increasing disposable income, spending capabilities, and increasing adoption of breast implants in patients who have undergone mastectomy procedures. Implantation is usually performed for cosmetic purposes as well as to rectify the deformed shape of the organ. Rising awareness regarding breast cancer and increasing number of diagnosed and undiagnosed individuals undergoing mastectomy to cut down risk of the disease is in turn increasing adoption of implantation surgeries by the patients to restore their former physique. This is expected to considerably support revenue growth of the segment.

Surgical procedure segment is expected to register a steady revenue growth rate during the forecast period, owing to rising demand for facial surgeries such as eyelid surgery, nose surgery, neck lift, facelift, lip enhancement, and others across the globe. According to 2021 survey report of the American Academy of Facial Plastic and Reconstructive Surgery, Inc. (AAFPRS), number of plastic surgeries have increased by 40% compared to previous with surgeons performing 600 more procedures than in 2020. In addition, around 83% of AAFPRS surgeons reported a 70% rise in number of bookings in 2021 compared to 2020. Moreover, increasing obese population pool is increasing demand for fat reduction surgeries such as liposuction, which is further expected to drive revenue growth of this segment.

Market in Asia-Pacific is expected to register a faster revenue growth rate during the forecast period. High demand in countries such as China, India, and South Korea is contributing to market revenue growth. Rise of medical tourism, particularly in Asian countries is expected to drive revenue growth of the market in the region. GOURI, world's first completely injectable liquid polycaprolactone, developed by DEXLEVO, which is an Asia-based aesthetic and medical device company has been chosen as the best injectable in the 20th Aesthetic & Anti-aging Medicine World Congress (AMWC) between 31 March and 02 April 2022. This is expected to increase adoption of liquid PCL injectables in aesthetic medical centers over the coming years.

Some of the major companies included in global aesthetic medicine market report are

AbbVie Inc., Galderma, Alma Lasers, Cynosure, Johnson & Johnson Private Limited, Lumenis Be Ltd., Solta Medical, Candela Medical, Hologic, Inc., and Dentsply Sirona.

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