Global Medical Aesthetics Market Outlook to 2030

Global Medical Aesthetics Market Overview

• Global Medical Aesthetics Market was valued at USD 18 billion in 2023, driven by increasing consumer demand for minimally invasive and non-invasive aesthetic procedures. The rise in disposable income, coupled with growing awareness about cosmetic treatments, has significantly contributed to market growth. The aging population seeking anti-aging treatments and the influence of social media and celebrity culture are key drivers pushing the market forward.

• Key players in the market include Allergen Inc., Cynosure Lutronics, Elen Group, Cutera and Venus Concepts. These players are primarily known for their continuous technological innovations and high-quality aesthetic solutions.
• In 2024, Allergan announced that JUVDERM VOLUMA XC is approved by US Food & Drug Administration (FDA) for injection in the temple region to improve moderate to severe temple hollowing in adults over the age of 21. This is the first and only hyaluronic acid (HA) dermal filler to receive FDA approval for this indication, with results lasting up to 13 months with optimal treatment

Global Medical Aesthetics Current Market Analysis

• North America as the dominant country: North America dominates the global medical aesthetics market, fueled by robust healthcare infrastructure and high disposable incomes$45,343 per capita in the U.S. and $34,422 in Canada. The region is a hub for key market players and cutting-edge technologies, with notable investments such as Cartessa Aesthetics' $35 million funding in 2021. Innovations like fractional resurfacing and third-generation ultrasound-assisted lipoplasty enhance patient outcomes. Increased acceptance of minimally invasive procedures and anti-aging solutions further solidify North America's market leadership.
• Europe as the emerging region: Europe has an aging population with 215 Mn elderly people in 2021. Older individuals often seek aesthetic treatments to maintain a youthful appearance. In 2022, 744 Mn people were residing in Europe out of which 59% of the population were adults & almost 1 out of 3 children were obese. The rising burden of obesity in the region is anticipated to increase demand for aesthetic surgeries and devices, thus boosting market growth.
• US as the dominant country: In 2023, the United States led in medical aesthetics with 6,196,701 procedures 1,791,102 surgical and 4,405,599 non-surgical. Cultural emphasis on appearance fuels this demand. Americans spent over $11.8 Bn on aesthetics in 2022, a 2% increase from 2021. This reflects a robust market for both advanced surgical and innovative non-surgical options. The shift towards minimally invasive treatments highlights consumer preference for convenience and shorter recovery times, underscoring ongoing growth in the sector.

Global Medical Aesthetics Market Segmentation

Global Medical Aesthetics Market can be segmented based on several factors:

By Technique: Global medical aesthetics market is segmented by technique into non-invasive procedures & invasive procedures. In 2023, market is dominated by the non-invasive sub-segment, which holds the largest share by value. This is driven by reduced discomfort, faster outcomes, and lower costs. Injecting Botox using soft tissue fillers into the area and chemical peels are prominent non-invasive treatments.

By End-User: Global medical aesthetics market is segmented by end-user into hospitals, clinics & medical centers, beauty centers and home care. In 2023, the market segmentation by end user shows hospitals, clinics & medical centers as the dominant sub-segment in terms of value due to their adoption of advanced, minimally invasive cosmetic technologies. Hospitals can offer a wide range of procedures and afford high-cost instruments and expert professionals.

By Non-Invasive Procedures: Global medical aesthetics market is segmented by non-invasive procedures into botulinum toxin, hyaluronic acid, hair removal, non-surgical skin tightening, non-surgical fat reduction & others. In 2023, Botulinum toxin dominate the non-invasive procedure segmentation by value. Botulinum toxin injections are highly effective in reducing the appearance of facial wrinkles and fine lines. The results are visible within a few days of treatment, offering immediate gratification to patients.

Global Medical Aesthetics Market Competitive Landscape

• Allergan Aesthetics: In April,2024, Allergan Aesthetics announced the launch of two new products from SkinMedica- The SkinMedica Acne Clarifying Treatment and SkinMedica Pore Purifying Gel Cleanser are breakthroughs in skincare, providing effective and balanced care for people with acne-prone skin. SkinMedica Acne Clarifying Treatment contains 2% encapsulated salicylic acid to proactively guard against future breakouts.
• Sisram Medical Ltd: In January, 2024, the Company has entered into a strategic partnership with Prollenium, a Canadian premium FDA-approved dermal filler manufacturer. Under this agreement, Sisram will have exclusive distribution rights for Prollenium's Revanesse dermal filler collection in key markets, including Germany, Austria, Switzerland, Australia, and New Zealand.
• Johnson & Johnson Services Inc: In January 2022, Mentor Worldwide LLC, a subsidiary of Johnson & Johnson Services Inc, announced that the U.S. Food and Drug Administration (FDA) approved the MENTOR MemoryGel BOOST Breast Implant for breast augmentation in women aged 22 and older, as well as for women of all ages undergoing breast reconstruction.

Global Medical Aesthetics Industry Analysis

Global Medical Aesthetics Market Growth Drivers:

• Growing demand for Home-based Aesthetic Procedures: In July 2022, LightStim launched Elipsa, the first device to offer dual treatment options for treating acne and wrinkles using LED- based technology. This device is used at home by users. The device has been well-received due to its ease of use and effectiveness, contributing to the growing trend of home-based aesthetic treatments.
• Increased Investment Activity: The factor for spurring growth is investments by both private equity firms and manufacturers. Galderma, the second-largest injectables player worldwide, acquired Alastin Skincare in 2021 to complement its Dysport and Restylane products. This acquisition highlights the strategic moves by companies to expand their product portfolios and strengthen their market position.
• Aging Population: In 2022, there were 771 million people aged 65+ years globally, equal to 10% of the world's population. This demographic is expected to increase significantly, driving demand for anti-aging and aesthetic products. As the aging population grows, the market for home-based aesthetic procedures is anticipated to expand correspondingly.

Global Medical Aesthetics Market Challenges:

• Regulatory and Compliance Issues: Navigating the complex and varying regulatory frameworks across different countries can be challenging for companies. This includes obtaining approvals from health authorities like the FDA in the US, the EMA in Europe, and other national regulatory bodies. The time and cost associated with obtaining regulatory approval for new devices and treatments is significant, delaying market entry and increasing development costs.
• High Costs of Advanced Technologies: The development and adoption of advanced technologies such as laser devices, ultrasound systems, and innovative injectables require substantial investment. Devices like CoolSculpting and Ultherapy involve high initial costs, which can be a barrier for small clinics and individual practitioners.

Global Medical Aesthetics Future Market Outlook

Global Medical Aesthetics market is expected to reach USD 33 billion in 2029, driven by integration of AI in aesthetic treatments, rise of personalized aesthetic solutions & expansion of minimally invasive procedures.

Future Market Trends

• Integration of Artificial Intelligence (AI) in Aesthetic Treatments The integration of AI in aesthetic treatments is expected to revolutionize the market. AI-driven diagnostic tools and personalized treatment plans will enhance the precision and efficacy of procedures. AI applications in aesthetics will account for a significant portion of technological investments, with anticipated adoption in over 50% of aesthetic clinics globally.
• Rise of Personalized Aesthetic Solutions The trend towards personalized aesthetic solutions will continue to grow. Advanced data analytics and genetic testing will enable customized treatments tailored to individual needs and biological profiles. Personalized treatments will constitute a substantial chunk of the market, driven by consumer demand for bespoke aesthetic care.