Aesthetic Medicine Industry Overview
The global aesthetic medicine market size was valued at USD 63.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.6% from 2022 to 2030.
Manufacturers coming up with innovative aesthetic devices has led to an increased demand for aesthetic treatments in recent years. For instance, the introduction of technologically advanced products, such as non-invasive body contouring systems that use fat freezing technology, is expected to create lucrative opportunities for market growth in the coming years. According to the Aesthetic Society (U.S.), non-invasive body fat reduction was among the top 5 non-invasive procedures in the U.S. in 2020 with 140,314 procedures being carried out.
The COVID-19 pandemic had significantly affected the market for aesthetic medicine. Initially, social distancing and a sudden sharp cut in consumers’ income levels had negatively impacted the market. The market had witnessed a phase of short-term negative growth owing to factors such as a decline in product demand, limited operations, temporary closures of beauty centers, and disruption in the manufacturing and supply chain.
Gather more insights about the market drivers, restrains and growth of the Global Aesthetic Medicine market
However, remote working has increased the time spent on Zoom calls. Adults are paying attention to their physical appearance closely. This has increased the demand for cosmetic surgeries, with Botox being one of the most popular procedures preferred. Interest in non-invasive procedures has increased during the past few months while interest in invasive procedures has declined. Thus, the market has witnessed a spike during the past few months and it is expected to be in high demand throughout the forecast period.
The growing urge to look young and fit has increased the demand for aesthetic treatment in developing countries. Aesthetic procedures such as liposuction, nose reshaping, and Botox injections are gaining consumer interest in countries such as India and South Korea. According to the International Society of Aesthetic Plastic Surgery (ISAPS), India was ranked among the top 5 countries performing non-surgical procedures at a global level. This highlights the high growth prospects that lie ahead for aesthetic medicine manufacturers in the country.
Browse through Grand View Research’s Medical Devices Industry Research Reports.
- Buttock Augmentation Market – The global buttock augmentation market size was estimated at USD 1.5 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 22.0% from 2021 to 2028. Buttock implants are cosmetic surgical procedures that are done to contour or enhance the shape and size of the butt.
- Thailand Aesthetic Medicine Market – The Thailand aesthetic medicine market size was valued at USD 718.3 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.6% from 2021 to 2028. The shifting trend toward maintaining optimal aesthetic beauty is one of the major factors driving the adoption of aesthetic procedures.
Aesthetic Medicine Market Segmentation
Grand View Research has segmented the global aesthetic medicine market on the basis of procedure type and region:
- Aesthetic Medicine Procedure Type Outlook (Revenue, USD Million, 2017 – 2030)
- Invasive Procedures
- Breast Augmentation
- Liposuction
- Nose Reshaping
- Eyelid Surgery
- Tummy Tuck
- Others
- Non-invasive Procedures
- Botox Injections
- Soft Tissue Fillers
- Chemical Peel
- Laser Hair Removal
- Microdermabrasion
- Others
- Aesthetic Medicine Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Share Insights
- December 2021: Allergen Aesthetics, a part of AbbVie, acquired a medical technology company, Soliton, Inc. This acquisition will strengthen its portfolio of non-invasive body contouring treatments.
- September 2020: Allergan Aesthetics, a part of AbbVie and Skinbetter Science, announced the launch of a new educational partnership DREAM: Driving Racial Equity in Aesthetic Medicine initiative. The Dream Initiative™ is committed to advancing the principles of racial and ethnic diversity, inclusion, respect, and understanding in the fields of plastic surgery and dermatology.
Key Companies profiled:
Some prominent players in the global aesthetic medicine market include
- AbbVie
- Cynosure
- Evolus Inc.
- Revance Galderma
- Lumenis
- Solta Medical
- Syneron Candela
- Alma Laser
Order a free sample PDF of the Aesthetic Medicine Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
