Medical Aesthetics Market Outlook
[150 Pages Report] Medical Aesthetics Market size was valued at USD 13,744.00 million in 2021 and is estimated to reach at a compound annual growth rate (CAGR) of 11.4% over the forecast period 2022 to 2029.
Medical Aesthetics Market - Strategic Insights
By Product, By Application, By End User, and By Region
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, and Other key insights.
Fastest Growing Region
Largest Market Share
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Medical aesthetics is any medicine or medical procedure specializing in or intended to improve cosmetic appearance. A broad range of treatments and therapies are available from a medical aesthetician, including procedures considered to reduce, reverse, or otherwise minimize signs of aging, such as wrinkles, age spots, or loose and sagging skin.
The medical aesthetics market growth is driven by the rise in the adoption of minimally invasive and noninvasive procedures aesthetic procedures, an increase in the geriatric population globally, an increase in awareness among the fashion community regarding cosmetic procedures, the availability of technologically advanced products, and usage of cosmetic procedures in men.
The rising awareness of medical aesthetics in public is expected to drive the market growth
Innovations and techniques have enabled customers to look fresh and youthful. They have a tighter and toned appearance. As per the article published in the Aesthetic Surgery Journal in April 2022, technological advances and widespread use of social media have increased awareness of diverse standards of beauty and aesthetic outcomes, ultimately broadening definitions of beauty and attractiveness and the consciousness of treatment goals. This dramatic rise in customer spending on cosmetic procedures has, in turn, generated promising prospects for the aesthetic medicine market in the future. Most physicians use Botox injections and chemical peels in their treatment portfolios to meet customers' demands for their appearance.
Approximately 70% of surveyed physicians indicated that their patients should seek aesthetic treatments in their 20s and 30s. Among aesthetically conscious female survey respondents, 32% indicated that they should seek treatment in their 30s, and 37% reported that they should seek treatment in their 40s.
The market players are adopting the market strategies such as new product launches or acquisitions. For instance, in February 2021, Allergan, acquired by AbbVie, received FDA approval for Botox to treat detrusor hyperactivity in patients five and older. Also, in August 2021, Bausch Health Companies Inc. and its Solta Medical business introduced the Clear plus Brilliant Touch laser in the U.S.
The side effects associated with medical aesthetics will hamper the growth of the market
However, some medical aesthetics procedures are the safest and most popular but have some side effects used in these treatments. For instance, Mesotherapy, growing in demand, lacks scientific research and the lack of standardized procedures leads to undocumented side effects like necrosis. Botox also reports ecchymosis (rashes) and edema (swelling), even if they are prevented with better procedures and user experience. These factors are limiting the market growth.
COVID-19 Impact Analysis
The appearance of COVID-19 considerably impacted the global medical aesthetics market. As per the article published in the Journal of Cosmetic Dermatology in June 2021, The COVID-19 pandemic has remarkably affected multiple aspects of life, among which it negatively impacted interest in medical aesthetics. Furthermore, lack of social communication during times of quarantines negatively influenced people's desire to seek cosmetic treatments. In some countries, such as Egypt, during the early months of the pandemic and due to the limited resources (supplies of imported cosmetic products), several physicians were affected by their ability to provide cosmetic services.
In addition, the aesthetic industry maintained its research and development practices in 2020 and 2021, despite uncertainties at the pandemic's start. The research was ongoing by the market players. For instance, in June 2020, Cynosure introduced the Elite iQ Aesthetic Workstation for laser skin revitalization and hair removal in the US, Europe, and Australia.
The Skin Tightening Devices segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
The skin tightening devices segment is expected to boost the market over the forecast period. To reduce fine lines and wrinkles, customers preferred skin tightening procedures. The advancement in skin-tightening devices drives the market. For instance, ultrasound (Ultherapy) is an FDA-approved skin-tightening technology that transfers micro-focused ultrasound energy deep into the lower layers of the skin to promote active collagen production. These skin-bypassing technologies can be effective with a wide range of patients, including those with darker skin color that may experience discoloration with a laser. It is mostly used to tighten the neck, jowls, chest, and brow areas, where the skin is a little thinner.
In addition, the market players are expanding their business to offer a strong portfolio in the market. For instance, in April 2021, Cynosure acquired the MyEllevate Surgical Suture System, expanding the Company's portfolio of minimally invasive facial rejuvenation solutions. This Acquisition will help to broaden Cynosure's extensive surgical product portfolio, enabling it to offer this ground-breaking procedure in combination with other energy-based skin-tightening technologies for optimal, long-lasting results.
North America region holds the largest market share of the global medical aesthetics market
North America dominates the market for medical aesthetics and is expected to show a similar trend over the forecast period. It is estimated to hold a significant market size over the forecast period (2022-2029) owing to advanced healthcare infrastructure, the growing shift towards the appearance of the young and adult population, and key regional players.
As per the article published in the Aesthetic Surgery Journal in April 2022, minimally and noninvasive facial aesthetic procedures are increasing in popularity. The procedures, including botulinum toxin or soft tissue filler injections, chemical peels, and an estimated $16.7 billion, were spent on aesthetic treatments in 2020 in the United States alone.
In addition, the market players are adopting market strategies such as product launches and acquisitions. For instance, in August 2022, AirSculpt Technologies, Inc., offered to clients state of the art cellulite removal with AirSculpt Smooth, FDA-cleared, a single, minimally invasive one-time procedure in conjunction with a standard AirSculpt procedure. AirSculpt Smooth results provide full removal of stubborn cellulite dimples. AirSculpt Smooth does not use any scalpels, needles, or stitches all while the client is concious, so they can schedule to return to their daily lifestyle in 24-48 hours. Also, in October 2020 Cynosure launched of FlexSureTM, the latest addition to its best-in-class TempSure 300-watt platform and the world's first wrappable radiofrequency (RF) applicator for flexible, hands-free, non-invasive RF treatments in United States and Canada.
The medical aesthetics market is a moderately competitive presence of local and global companies. Some of the key players contributing to the market's growth are Allergan plc, Alma Lasers, Ltd., Cutera, Inc., Cynosure, El.En. S.p.A., Fotona d.o.o, Merz Pharma GmbH & Co., Sientra, Inc., Sinclair Pharma PLC, Syneron, Medical, Ltd., and Bausch Health Companies Inc, among others. The major players are adopting several growth strategies, such as Treatment type launches, acquisitions, and collaborations, which contribute to the growth of the medical aesthetics market globally.
Allergen aesthetics, an Abbvie company, an American company founded in 2013, provides innovative products of the highest quality and science-based aesthetic solutions to our Healthcare Professionals.
Dermal Fillers: It rejuvenates and increases facial features with natural looking and feeling results. It is injected just below the skin surface to fill wrinkles, plump-up small areas such as the lips, and re-volumise large areas like cheeks.
The global medical aesthetics market report would provide access to approximately 60+ market data tables, 60+ figures, and in the range of 200+ (approximate) pages.
What is the Medical Aesthetics Market growth?
The market is growing at a CAGR of 9.60%
What is Medical Aesthetics Market size in 2021
The Medical Aesthetics Market size was valued at USD YY million in 2021
Who are the key players in Medical Aesthetics Market?
Alma Lasers, Cutera Inc., Cynosure, El.En. S.p.A., Fotona d.o.o, Merz Pharma GmbH & Co., Sientra, Inc., Sinclair Pharma PLC
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