The global aesthetic medicine market size is expected to reach USD 304.82 billion by 2030, according to a new study by Polaris Market Research. The report “Aesthetic Medicine Market Share, Size, Trends, Industry Analysis Report, By Procedure Type (Invasive Procedures, Non -Invasive Procedures); By End User; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The main elements anticipated to propel market revenue growth includes the patients having mastectomy, thereby driving the cosmetic medical procedures, with constant focus on the rapid development of minimally invasive and non-invasive aesthetic solutions.
In developing nations, demand for aesthetic treatments has surged due to a growing desire to seem young and fit. In nations like India and South Korea, consumers are becoming more interested in aesthetic procedures like liposuction, nose reshaping, and Botox injections. According to the 2020 International Society of Aesthetic Plastic Surgery (ISAPS) report, 6,213,859 Botulinum Toxin, and 1,225,540 eyelid surgeries were performed worldwide.
The market for aesthetic medicine was significantly impacted by the COVID-19 pandemic. Social alienation and a rapid, sharp decrease in consumer income levels had initially hurt the market. Due to factors such a decline in product demand, operational restrictions, the temporary closure of beauty salons, and disruptions in the supply and manufacturing chains, the industry has seen short-term negative growth.
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Due to doctors’, healthcare providers’ (HCPs), patients’, and other stakeholders’ quick outreach via social media channels and other digital platforms, approval for cosmetic medical operations has grown tremendously over the past several years. This has improved communication between HCPs and those who are wary about undergoing such operations. In the upcoming years, it is anticipated that this will lead to a greater acceptance of aesthetic medicine tools and products. Manufacturers of cosmetic medicinal formulations are able to satisfy consumer requests by researching regional consumer needs. For instance, India was listed as one of the top 5 countries providing non-surgical procedures globally in the International Society of Aesthetic Plastic Surgery (ISAPS) 2020 report. This demonstrates the promising future for the nation’s producers of aesthetic medicine.
Aesthetic Medicine Market Report Highlights
- Non-invasive procedures held the largest revenue share in 2021. The segment is expected to experience the fastest CAGR growth during the projection period. Globally, people are becoming more interested in non-invasive procedures due to factors including reduced pain, quick results, and inexpensive cost.
- A large portion of the global market is anticipated to be accounted for by beauty centers due to factors like the expansion of these facilities and growing consumer awareness of skin conditions.
- During the projection period, Asia Pacific is expected to grow at the fastest CAGR. Countries like South Korea, China, and India support the region. One of the main factors anticipated to propel the market in the area is the availability of technologically improved goods, the growing emphasis on appearance, and South Korea’s status as the center of cosmetic surgery.
- The market is extremely competitive because to the presence of key market players with global presence such as Allergan-AbbVie, Alma Lasers, Anika Therapeutics, Cutera, Cynosure, Fotona, and Solta Medical business.
Polaris Market Research has segmented the aesthetic medicine market report based on procedure, end use, and region:
Aesthetic Medicine, Procedure Outlook (Revenue – USD Billion, 2018 – 2030)
- Invasive Procedures
- Breast Augmentation
- Nose Reshaping
- Eyelid Surgery
- Tummy Tuck
- Non-invasive Procedures
- Botox Injections
- Soft Tissue Fillers
- Chemical Peel
- Laser Hair Removal
Aesthetic Medicine, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Clinics, Hospitals, and Medical Spas
- Beauty Centres
- Home Care
Aesthetic Medicine, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa