Medical aesthetics involve non-invasive cosmetic procedures that enhance one’s physical appearance and boost self-esteem. These procedures utilize minimally invasive to non-invasive techniques for reducing wrinkles, lifting facial contours, and improving overall skin quality. With growing social acceptance of aesthetic treatments and willingness to spend on self-care, the demand for non-surgical procedures like Botox, hyaluronic acid fillers, chemical peels, microdermabrasion and laser treatments is increasing.
The global Medical Aesthetics Market is estimated to be valued at US$ 15.2 Bn in 2023 and is expected to exhibit a CAGR of 25% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends spurring the medical aesthetics market is growing demand for non-invasive aesthetic procedures. The steady increase can be attributed to the minimally invasive nature and quick recovery time associated with non-surgical treatments. Procedures like injectables and energy-based devices cause minimal discomfort and downtime. This makes them an attractive alternative to invasive surgeries. Furthermore, subtle and natural looking results associated with non-invasive treatments are drivingconsumer inclination towards these procedures. Growing popularity of procedures like botulinum toxin and hyaluronic acid injections for reducing wrinkles and dermal fillers for contouring facial features are fueling the demand for non-invasive aesthetic services. Rising consumer emphasis on appearance and self-confidence is anticipated to further accelerate the non-invasive segment within the overall medical aesthetics industry over the forecast period.
Strength: The medical aesthetics market has high growth potential owing increasing number of cosmetic procedures across the world.
Weakness: High costs associated with medical aesthetic procedures limits its adoption in low and middle-income countries. Lack of reimbursement is another weakness.
Opportunity: Growing medical tourism industry especially in Asian countries provides lucrative growth opportunities. Rising aging population demanding anti-aging treatments further opens up opportunities.
Threats: Stringent regulations and ethical issues related some procedures pose threats. Unfavorable economic conditions can negatively impact the market.
The global medical aesthetics market is expected to witness high growth over the forecast period. The global Medical Aesthetics Market is estimated to be valued at US$ 15.2 Bn in 2023 and is expected to exhibit a CAGR of 25% over the forecast period 2023 to 2030.
North America dominate currently due to high awareness levels and technological advancements. Asia Pacific shows highest growth potential attributed to low treatment costs and rapidly aging population in countries like China, Japan and South Korea driving demand.
Key players operating in the medical aesthetics market are Cynosure, Inc., Allergan, Inc., Alma Lasers, Ltd., Mentor Worldwide LLC, Lumenis Ltd., ZELTIQ Aesthetics, Inc., PhotoMedex, Inc., Galderma S.A., Syneron Medical, Ltd., and Solta Medical, Inc. These players are focusing on new product launches and geographic expansions to increase their market share.
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it