Global Medical Aesthetics Market Size Likely to Surpass at a CAGR of 8.4% By 2033

As per the current market research conducted by the CMI Team, the global Medical Aesthetics Market size is expected to record a CAGR of 8.4% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 17,501.3 Million. By 2033, the valuation is anticipated to reach USD 36,168.8 Million.

Medical Aesthetics Market: Growth Factors and Dynamics

• Increasing Demand for Aesthetic Procedures: Growing awareness of aesthetic treatments, advancements in technology, and changing societal norms regarding beauty have led to a surge in demand for medical aesthetics procedures globally.

• Aging Population: The aging population, particularly in developed countries, is driving the demand for anti-aging treatments and procedures to maintain a youthful appearance, contributing to market growth.

• Advancements in Technology: Technological innovations in energy-based devices, injectables, and other medical aesthetics products have resulted in safer, more effective treatments with minimal downtime, attracting more consumers to undergo aesthetic procedures.

• Rising Disposable Income: Increasing disposable income levels in emerging economies, coupled with the desire for self-improvement and enhanced appearance, have fueled the adoption of medical aesthetics procedures among a broader demographic, driving market expansion.

• Shift towards Minimally Invasive Procedures: Growing preference for minimally invasive treatments over traditional surgical procedures due to lower risk, shorter recovery times, and fewer complications has led to a surge in demand for non-surgical aesthetic procedures, boosting market growth.

• Expanding Market Reach: Market expansion strategies such as geographical expansion, partnerships with dermatology clinics and cosmetic surgery centers, and increased accessibility through online platforms have widened the reach of medical aesthetics services, further driving market growth and penetration.

• Cultural Influences and Social Media: Cultural influences and the pervasive impact of social media platforms have played a significant role in shaping beauty ideals and driving the demand for aesthetic procedures. The constant exposure to curated images of beauty standards on social media platforms has heightened awareness and desire for cosmetic enhancements, contributing to market growth.

• Regulatory Approvals and Safety Standards: Stringent regulatory approvals and adherence to safety standards for medical aesthetics products and procedures have bolstered consumer confidence and trust in the industry. Compliance with regulations ensures the safety and efficacy of treatments, reducing the risk of adverse events and enhancing the overall reputation of the medical aesthetics market.

Medical Aesthetics Market: Partnership and Acquisitions

• In 2022, Apyx Medical received FDA clearance for the Renuvion device to be used in aesthetic procedures targeting lax skin in the neck region. This clearance expands the device’s applications, offering patients innovative options for enhancing their appearance.

• In 2022, Allergan, a subsidiary of AbbVie Inc., secured FDA approval for JUVÉDERM VOLBELLA XC to enhance infraorbital hollows in adults over 21. This expansion of their aesthetics product portfolio strengthens their position in the U.S. market.

Report Scope

Medical Aesthetics Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Medical Aesthetics Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Disruption of Services: During the pandemic, many medical aesthetics clinics and practices were temporarily closed or operated at reduced capacity due to lockdowns and safety measures, resulting in a significant decline in patient visits for elective procedures.

• Economic Uncertainty: Economic uncertainty and job losses during the pandemic led to a reduction in disposable income and discretionary spending, causing some consumers to postpone or cancel aesthetic treatments due to financial concerns.

• Pent-Up Demand Release: As restrictions ease and vaccination rates increase, there may be a release of pent-up demand for aesthetic procedures, with patients resuming postponed treatments and seeking out new procedures they’ve been considering.

• Focus on Safety and Hygiene: Medical aesthetics practices will continue to prioritize stringent safety and hygiene protocols to ensure the well-being of patients and staff, reassuring consumers and rebuilding trust in the safety of undergoing aesthetic treatments.

• Innovation in Digital Consultations: The adoption of telemedicine and virtual consultations surged during the pandemic. Medical aesthetics providers may continue to offer virtual consultations as a convenient and accessible way for patients to discuss treatment options and receive personalized recommendations.

• Flexible Payment Options: Offering flexible payment plans and financing options may help mitigate the financial barriers to accessing aesthetic treatments, allowing patients to spread out the cost of procedures over time and making treatments more affordable.

• Marketing and Education Campaigns: Increased marketing efforts and educational campaigns can help reengage patients and educate them about the safety measures in place, new treatments available, and the benefits of aesthetic procedures for boosting confidence and well-being.

• Diversification of Services: Medical aesthetics practices may diversify their service offerings to meet evolving consumer preferences and address emerging trends post-pandemic. This could include introducing new treatments, such as non-invasive procedures targeting specific concerns, or expanding into complementary services like skincare consultations and wellness programs to attract a broader patient base and drive revenue growth.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Medical Aesthetics Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Medical Aesthetics Market:

• Allergan Aesthetics (AbbVie Inc.)
• Galderma S.A.
• Merz Pharmaceuticals GmbH
• Bausch Health Companies Inc.
• Syneron Candela
• Alma Lasers (Sisram Medical Ltd.)
• Cynosure LLC (Hologic Inc.)
• Lumenis Ltd.
• Solta Medical (Valeant Pharmaceuticals International Inc.)
• Cutera Inc.
• Zimmer MedizinSysteme GmbH
• Sciton Inc.
• Sinclair Pharma plc
• Sientra Inc.
• Fotona d.o.o.
• Others

The Medical Aesthetics Market is segmented as follows:

By Product Type

• Aesthetic Laser Devices
• Energy Devices
• Body Contouring Devices
• Facial Aesthetic Devices
• Aesthetic Implants
• Skin Aesthetic Devices

By Application

• Anti-Aging and Wrinkles
• Facial and Skin Rejuvenation
• Breast Enhancement
• Body Shaping and Cellulite
• Tattoo Removal
• Vascular Lesions
• Sears
• Pigment Lesions
• Reconstructive
• Psoriasis and Vitiligo
• Others

By End User

• Cosmetic Centers
• Dermatology Clinics
• Hospitals
• Medical Spas
• Beauty Centers
• Others

By Distribution Channel

• Direct Sale
• Retail Sales
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America