Market Overview
The India Aesthetics market is is estimated to grow at a Significant CAGR during the forecast period (2024-2031).
Increasing beauty consciousness is the major factor driving the medical aesthetics market. A growing societal emphasis on physical appearance and beauty has led to a higher demand for cosmetic treatments and procedures to enhance the aesthetic appeal. This is driven by media influence and social media platforms.
Non-surgical procedures are generally less invasive compared to traditional surgical interventions. Many individuals prefer these treatments as they involve minimal or no downtime, fewer risks, and less discomfort. This appeals to a broader audience seeking cosmetic enhancements without the commitment and recovery associated with surgery
Market Summary
Metrics | Details |
CAGR | Prominent Growth |
Size Available for Years | 2022-2029 |
Forecast Period | 2024-2031 |
Data Availability | Value (US$) |
Segments Covered | By Procedure, and By Gender |
Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
The increasing the technological advancements
The rise of technology has played a crucial role in driving the growth of the medical aesthetics market in India. Several technological advancements have contributed to the expansion of this market by offering innovative solutions, improving treatment outcomes, and enhancing the overall patient experience.
For instance, IV Based on Glutathione Therapy, glutathione IV therapy is a method of inserting glutathione into your body to offer a lighter skin tone or fairer complexion. This process involves delivering nutrients directly into the bloodstream by passing through the gastrointestinal tract.
Additionally, on March 18, 2023, AAYNA, a leading provider of cosmetic dermatology and aesthetics treatments in India, had launched of its exclusive AAYNA Renew treatment at its Ludhiana branch.
AAYNA Renew is a cutting-edge micro-needling RF (radio frequency) treatment that stimulates collagen production and rejuvenates the skin, leaving it looking smoother, firmer, and more youthful. Thus above factors helps to boost the market growth.
Moreover, laser carbon peel is a fast and painless method to improve the texture of the skin. This deeply exfoliates the skin and also helps to stimulate collagen production. This is also very popular among men who are constantly dealing with skin tanning and pigmentations.
The strategies adopted by the companies
The growth is driven by factors such as increased demand, rising collaborations between the medical fraternity, academia, and industry stakeholders further contribute to innovation and skill development, propelling India toward its goal of becoming a global hub for aesthetic medicine.
Investments in products, machinery, and services fuel this growth, and with a growing market and a strong emphasis on innovation and collaboration, the future of India’s aesthetic medicine industry looks incredibly promising.
For instance, in December 2023, A Menarini India, partnered with French pharmaceutical giant - Pierre Fabre Laboratories. Under this strategic collaboration, Menarini India has obtained exclusive rights to market and distribute the dermo-cosmetic brands, EAU THERMALE AVÈNE and DUCRAY in India. The partnership forms a perfect synergy between the two pharma giantsto deliver innovative solutions for the Indian market, promising a better future in the dermatology and cosmetics landscape in the country.
Additionally, in November 2023, Sephora, which made its first foray into India in 2012, today counts 26 stores across 13 cities. To boost its operations in acountry, which is widely seen as the next growth hot spot for the cosmetics industry, the prestige beauty retailer has tied up a new partnership with Reliance Retail Ventures Limited (RRVL). Thus above factors helps to accelerates the market growth
Covid Impact Analysis
The declaration of COVID pandemic by the WHO can certainly be seen as a watershed era the world has witnessed in modern times. All non-essential industries and services have taken a back seat including aesthetic medicine. Over the last decade, India has witnessed a steady growth in medical tourism owing to global standards of care and services at a relatively modest cost.
In the pre-COVID era, an average aesthetic surgeon was finely balancing his profession, personal lifestyle, learning, and recreation. The lockdown clamped their practices which lead into a financial drought; despite which, they were able to maintain their productivity by engaging in webinars, reading, and research. The post-COVID times demand an implementation of safety protocols along with changes in set-up, regulating patient traffic, engaging in distant learning through virtual conferences, and maintaining a healthy lifestyle acquired during the lockdown.
In the pre-pandemic world, India was being seen as an emerging market for medical tourism in aesthetic surgery, with an increasing number of procedures being conducted every year. India is a popular destination for medical tourism, including aesthetic procedures. However, travel restrictions and safety concerns related to the pandemic led to a decline in medical tourism, affecting the aesthetics market. The pandemic accelerated the adoption of telemedicine services, including virtual consultations. While certain aesthetic procedures require in-person visits, virtual consultations became moreprevalent for initial assessments and follow-ups.
The pandemic has likely led to a shift in consumer behavior, with individuals becoming more discerning about the safety and necessity of aesthetic procedures. This may influence the types of treatments and services that gain popularity post-pandemic.
Market Segmentation Analysis
By Procedure
Non-surgical procedures are generally less invasive compared to traditional surgical interventions. Many individuals prefer these treatments as they involve minimal or no downtime, fewer risks, andless discomfort. This appeals to a broader audience seeking cosmetic enhancements without the commitment and recovery associated with surgery. There has been a notable shift in societal attitudes towards nonsurgical aesthetic procedures. As awareness increases and the stigma around cosmetic enhancements diminishes, more individuals are willing to explore non-surgical options to enhance their appearance. The integration of non-surgical procedures with advanced skin care products and formulations enhances overall treatment outcomes. The use of cosmeceuticals and complementary skincare regimens contributes to the effectiveness and longevity of non-surgical interventions.
For instance, in April 2023, Doctors Aesthetics Centre had introduced PICOCARE 450 an advanced laser skin treatment machine in Kerala State. It is an aesthetic laser machine that has obtained all the necessary certificates of all the prominent authorities world-wise like the Korea Food and Drug Administration, USA FDA, European CE and has been certified as stable and highly efficacious system by all the agencies.
Thus due to the high acceptance and launch of new products of the non-surgical procedures also helps to drives the segment growth. For instance, in August 2022, Allergan Healthcare India Private Limited, Bangalore had launched Juvederm VOLUX in India under its Business Unit of Allergan Aesthetics. According to the company’s press statement, Allergan Aesthetics has obtained all the necessary approvals from the Central Drugs Standards Control Organization (CDSCO) office before launching this product in India.
Additionally, in June 2023, UnCover Laser, Skin and Hair Clinic proudly stated the highly anticipated clinic in Gurgaon. UnCover Laser, Skin and Hair Clinicis poised to redefine the beauty and wellness landscape in India. With its focus on personalized and specialized treatments, the clinic strives to empower individuals to embrace their uniqueness and discover their inherent beauty. Thus, owing to the above factors, it is expected to hold the largest segment.
Market Key players
Major key players are AbbVie Inc, Medicure Group Of Companies, SPECTRA MEDICAL INDIA PVT LTD, Concord Medisys, BluRay Aesthetics, Cosderma, Alma Medical Pvt Ltd, Coghlin Companies, Inc., Pacific Aesthetic India Pvt Ltd., Galderma SA.