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Aesthetic Market High Demand, Recent Trends, Future Growth, Industry Analysis, Forecasts Research, Top Manufacturers and Outlook 2032

10-10-2024 08:54 AM CET | Health & Medicine

Press release from: Emergen Research

Aesthetic Market

Aesthetic Market

The global aesthetic market, valued at USD 13.91 billion in 2022, is projected to experience rapid growth, with an expected Compound Annual Growth Rate (CAGR) of 11.6% during the forecast period. The surge in demand for non-surgical and minimally invasive aesthetic procedures, along with increasing awareness of fitness, appearance, and aging, are key factors driving the market's growth.

Key Drivers Fueling Market Growth

The rising popularity of aesthetic procedures that boost confidence and help individuals enhance their appearance is one of the major factors contributing to the market's expansion. Treatments such as wrinkle reduction, fillers, and laser procedures are becoming increasingly sought-after by both men and women. These treatments help address concerns related to aging and promote a youthful appearance.

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Aesthetic procedures are also instrumental in rectifying deformities caused by accidents, trauma, or congenital conditions. The growing emphasis on physical appearance continues to attract consumers to products and treatments designed to retain youthful looks and beauty.

Fitness trends have also significantly impacted the aesthetic market. Non-invasive body fat reduction procedures are gaining popularity, as more individuals seek ways to maintain a healthy body shape. According to the Aesthetic Society (U.S.), in 2020, non-invasive body fat reduction procedures were among the top five non-invasive treatments in the U.S., with over 140,000 procedures performed.

Technological advancements, including the integration of Artificial Intelligence (AI), Internet of Things (IoT), and Machine Learning (ML), are further propelling the growth of the aesthetic industry. These technologies enhance the precision, customization, and efficiency of treatments, resulting in better patient outcomes and improved overall experience. AI-powered systems can also offer personalized treatment strategies, further increasing patient satisfaction.

Challenges Facing the Market

Despite the optimistic outlook, several factors may hinder market growth. The high costs of advanced aesthetic equipment, coupled with stringent government regulations in certain countries, could limit access to aesthetic treatments. Developing countries with lower budgets and weaker economies may face challenges in adopting these advanced technologies, making it difficult for hospitals and clinics to offer the latest procedures.

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Market Segmentation Insights

On the basis of procedure type, the global aesthetic market is divided into invasive and non-invasive treatments. In 2022, non-invasive procedures held the largest market share due to their affordability, minimal pain, and instant results. Popular non-invasive procedures include Botox injections, soft tissue fillers, and chemical peels. The U.S. Food and Drug Administration (FDA) has approved several such treatments, including JUVEDERM VOLUMA XC for chin augmentation and Jeuveau, a lower-cost alternative to Botox for wrinkle reduction.

Invasive procedures, such as liposuction, breast augmentation, and nose reshaping, also remain in demand. However, their growth is more moderate compared to non-invasive procedures due to factors such as higher costs and the requirement for skilled personnel.

Application and End-Use Trends

The global aesthetic market is segmented into surgical and non-surgical applications. Non-surgical procedures are expected to dominate the market during the forecast period due to their accessibility, affordability, and lower risk compared to surgical methods. For instance, non-surgical treatments, such as chemical peels and laser therapy, are preferred by many as they are safer and less invasive.

On the other hand, the surgical segment is projected to experience steady growth as procedures such as liposuction and breast augmentation continue to gain popularity, although they are typically more painful and costly.

In terms of end-use, hospitals and clinics held the largest market share in 2022. These facilities provide a wide range of cosmetic treatments performed by professional staff in a safe environment. However, medical spas and beauty centers are expected to be the fastest-growing segment in the coming years. These facilities are increasingly popular among younger generations seeking beauty treatments in a comfortable and personalized setting.

Aesthetic Top Companies and Competitive Landscape

The global aesthetic market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective aesthetic solutions.

Some major players included in the global aesthetic market report are:

Zimmer Biomet Holdings, Inc.
Johnson & Johnson
Dentsply Sirona Inc.
VALEANT PHARMACEUTICAL INTERNATIONAL, INC.
Hologic, Inc.
Mentor Worldwide LLC
SYNERON MEDICAL LTD,
Lumenis, Shanghai Fosun Pharmaceutical(Group)Co., Ltd.
Lutronic
Sharplight Technologies Inc.

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AestheticLatest Industry Updates

In January 2022, Mentor Worldwide LLC (a subsidiary of the Johnson & Johnson Medical Devices Companies) announced that the FDA had approved MENTOR MemoryGel BOOST breast implant for breast augmentation and breast reconstruction. This product has helped the company to enhance its product portfolio of aesthetics in the U.S. market.

In December 2021, Allergan Aesthetics, a part of AbbVie, acquired a medical technology company, Soliton, Inc. This acquisition helped the company to strengthen its portfolio of non-invasive body contouring treatments.
Aesthetic Market Segmentation Analysis

For the purpose of this report, Emergen Research has segmented the global aesthetic market on the basis of procedure, application, product, end-use, and region:

Procedure Outlook (Revenue, USD Billion; 2019-2032)

Invasive procedure
Non-invasive procedure

Application Outlook (Revenue, USD Billion; 2019-2032)

Surgical
Non-surgical

Product Outlook (Revenue, USD Billion; 2019-2032)

Aesthetic laser devices
Energy devices
Facial aesthetic devices
Aesthetic implants
Others

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Hospitals & Clinics
Medical spas and beauty centers
Cosmetics centers
Dermatology clinics
Others

Regional Outlook (Revenue, USD Billion; 2019-2032)

North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Benelux
Russia
Rest of Europe
Asia Pacific
China
Japan
South Korea
India
ASEAN Countries
Oceania
Rest of APAC
Latin America
Brazil
Mexico
Rest of LATAM
Middle East & Africa
GCC Countries
Israel
Turkey
South Africa
Rest of Middle East & Africa

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Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
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About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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