Medical Aesthetics Market Size, Share Report, Analysis, Trends, Growth 2032

Medical Aesthetics Industry Prospective:

The global Medical Aesthetics market size was worth around USD 14.23 billion in 2023 and is predicted to grow to around USD 34.68 billion by 2032 with a compound annual growth rate (CAGR) of roughly 10.5% between 2024 and 2032.  

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Medical Aesthetics Market: Overview

Medical aesthetics is the branch of medicine that targets improving cosmetic appearance via several treatments and procedures. This includes minimally invasive and non-invasive operations used to improve a person's physical appearance, primarily by addressing a variety of disorders like obesity, wrinkles, and scars. Expert medical professionals, such as dermatologists, plastic surgeons, and cosmetic physicians, carry out the procedure. This category could include injectables (such as Botox and dermal fillers), laser treatments, chemical peels, microdermabrasion, non-surgical body sculpting, and other procedures.

Increasing demand for non-invasive procedures, an ageing population, technological advancements, rising disposable income, increased awareness, an increase in the number of skin disease disorders, an increase in medical tourism, and many other factors are driving the medical aesthetics market.

Key Insights

• As per the analysis shared by our research analyst, the global Medical Aesthetics market is estimated to grow annually at a CAGR of around 10.5% over the forecast period (2024-2032).
• In terms of revenue, the global Medical Aesthetics market size was valued at around USD 14.23 billion in 2023 and is projected to reach USD 34.68 billion by 2032.
• The growing product launch is expected to propel the market growth during the forecast period.
• Based on the product, the Aesthetic Implants segment is expected to capture the largest market share over the forecast period.
• Based on the application, the Non-Surgical segment is expected to grow at the highest CAGR during the forecast period.
• Based on the end user, the Hospitals and Clinics segment is expected to dominate the market over the projected period.
• Based on region, North America is expected to lead the market during the forecast period.

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Medical Aesthetics Market: Growth Drivers

Rising demand for non-invasive procedures drives market growth

The market is expanding mainly due to the growing demand for non-invasive procedures. Apart from this, the medical aesthetics market outlook is being stimulated by the changing inclinations of consumers toward cosmetic improvements. Additionally, the market is expanding due to the rising demand for various aesthetic procedures like laser therapy, Botox injections, and dermal fillers. For instance, in July 2021, the US FDA approved Allergan's request to add eight more muscles to the BOTOX label to treat adult upper limb spasticity. Additional forearm and elbow muscles (brachialis, brachioradialis, pronator teres, and pronator quadratus) are among the new muscles being treated.

With 4.4 million operations carried out in 2020, Botox injections were the most common non-invasive cosmetic surgery, according to a survey by the American Society of Plastic Surgeons. As a result, botulinum toxins are now widely used in aesthetic treatment. The US FDA has approved Botox injections for the treatment of horizontal forehead lines, crow's feet, and frown lines as cosmetic indications.

Medical Aesthetics Market: Restraints

The high cost of treatment hinders market growth

Medical cosmetic operations are becoming more and more popular, but their expensive cost discourages them from being widely used. Due to the high expense of medical aesthetic procedures, middle-class and lower-middle-class people now cannot afford them, which is a deterrent, particularly in developing nations. The cost of screening tests, implants, surgical procedures, replacement or recurrence surgeries, and physician fees are all included in the costs associated with medical aesthetic procedures like implantation surgery. In addition to their high expense, these procedures' absence of reimbursements exacerbates the affordability issue.

Even in industrialized nations like the US, UK, Germany, France, and Japan, there are still issues with medical device and pharmaceutical reimbursement systems notwithstanding reforms. Except for a few managed care organizations (MCOs), the majority of medical insurance plans available in the US do not pay for these treatments. Throughout the projection period, the high cost of treatment and the restricted coverage for medical aesthetic procedures will impede the growth of the aesthetic medicine market, particularly in developing nations.

Medical Aesthetics Market: Opportunities

Growing product launches provide a lucrative opportunity for market growth

The growing product launches are expected to offer a lucrative opportunity for the Medical Aesthetics market over the projected period. For instance, in May 2023, for medical aesthetic enterprises, MedShift introduced a Software-as-a-Service (SaaS) solution. Features like business automation and sales acceleration are part of the new Velocity Technology Suite, which is intended for aesthetic industries like plastic surgery and dermatology.

Medical Aesthetics Market: Challenges

Safety concern poses a major challenge to market expansion

Although aesthetic operations that are non-invasive or minimally invasive are typically regarded as safe when carried out by trained specialists, there are still risks involved with these treatments, such as the possibility of long-term side effects, unpleasant reactions, and problems. Consumer safety concerns can impede market expansion and reduce demand, especially when they pertain to newer or less established practices.

Medical Aesthetics Market: Segmentation

The global Medical Aesthetics industry is segmented based on Product, Application, End User and region.

Based on product, the global Medical Aesthetics market is bifurcated into Aesthetic Implants and Devices. The Aesthetic Implants segment is expected to capture the largest market share over the forecast period. The market is expanding due to the rising demand for aesthetic implants used in surgeries like face and breast augmentation. For instance, to address the therapeutic demands of women, GC Aesthetics, Inc. introduced FixNip NRI, its Nipple Areola Complex Reconstruction Implants, in May 2022. Furthermore, the growing consumer demand for customized, natural-looking outcomes is propelling the market expansion.

Based on the application, the global Medical Aesthetics industry is segmented into Surgical and Non-Surgical. The non-surgical segment is expected to grow at the highest CAGR during the forecast period. Compared to conventional surgical methods, non-surgical therapies provide patients with less intrusive options for improving their appearance. Due to its shorter recovery times, lower risks, and less downtime when compared to surgery, procedures like chemical peels, microdermabrasion, laser treatments, injectables (such as Botox and dermal fillers), and non-surgical body sculpting have acquired popularity. This is expected to drive the segment expansion.

Based on the end user, the global Medical Aesthetics market is segmented into Hospitals and Clinics and Medical Spas and Beauty Centers. The Hospitals and Clinics segment is expected to dominate the market over the projected period because they offer a secure and regulated environment for complex treatments.

Medical Aesthetics Market: Report Scope

Regional Analysis

North America is expected to lead the market during the forecast period

North America is expected to lead the market over the forecast period due to the region's technical advancements, growing awareness of aesthetic and minimally invasive procedures, and the amount of various cosmetic procedures that are being performed there. The region's high rate of aesthetic operations generates demand for aesthetic devices, which in turn propels the market's expansion. An estimated 1.4 million surgical and non-surgical procedures were carried out in the US in 2021, up 40% from 2020, according to the AAFPRS study that was published in March 2022.

Furthermore, 860,718 aesthetic treatments were carried out in Mexico in 2021, of which 456,489 were aesthetic surgical procedures and 404,229 were non-surgical aesthetic procedures, according to the ISAPS survey that was published in December 2021. Therefore, the population's growing preference for cosmetic operations will fuel market expansion.

Medical Aesthetics Market: Competitive Analysis

The global Medical Aesthetics market is dominated by players like:

• Anika Therapeutics Inc.
• 3M Co.
• Bausch Health Co. Inc.
• BioHorizons Inc.
• Danaher Corp.
• Dentsply Sirona Inc.
• Adin Dental Implant Systems Ltd.
• Candela Corp.
• Hologic Inc.
• Huadong Medicine Co. Ltd.
• Johnson and Johnson
• Galderma SA
• Shanghai Fosun Pharmaceutical Group Co. Ltd.
• Merz Pharma GmbH and Co KGaA
• Sientra Inc.

The Global Medical Aesthetics market is segmented as follows:

By Product

• Aesthetic Implants
• Devices

By Application

• Surgical
• Non-Surgical

By End User

• Hospitals and Clinics
• Medical Spas and Beauty Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa