Aesthetic Medicine Market Size is projected to reach USD 245 Billion by 2030, growing at a CAGR of 9.8%: Straits Research

The global aesthetic medicine market size was worth USD 105 billion in 2021 and is predicted to reach USD 245 billion by 2030, growing at a CAGR of 9.8% during the forecast period (2022–2030). North America is estimated to expand at a CAGR of 9.5% over the forecast period, reaching USD 83,875 million in 2030.

Pune, INDIA


New York, United States, July 13, 2022 (GLOBE NEWSWIRE) -- Cosmetic treatments, also known as aesthetic treatments, are non-surgical methods used to reduce the effects of aging, rejuvenate, and replenish the skin. Aesthetic Medicine primarily focuses on changing a person's cosmetic appearance to their preference. It's commonly used to cure scars, fatty tissue, hyperpigmentation, skin laxity, moles, and wrinkles, among several other things. Invasive, minimally invasive, and non-invasive cosmetic procedures are used in aesthetic medicine. The global medical aesthetic market is expanding as elderly individuals become more aware of such therapies, and innovative treatments become more widely adopted.


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Increasing Practice of Minimally Invasive Treatments to Boost the Global Aesthetic Medicine Market

Aesthetic procedures are becoming more popular, while reimbursements for conventional insurance-based medicine are decreasing. Medical Aesthetic practices, such as conducting aesthetic trials in their offices or practicing in medical spas, are becoming increasingly popular among doctors. In comparison to invasive surgeries, minimally invasive surgeries have smaller incisions, shorter hospital stays, faster healing of wounds, very little pain, lesser surgical injuries, and reduced associated complications.

Minimally invasive operations are rapidly replacing invasive surgeries. Non-invasive/minimally invasive fat reduction procedures accelerated by 7% in the United States between 2016 and 2019, as per the American Society of Plastic Surgeons (ASPS). In 2021, nearly 13.2 million cosmetic procedures, both minimally invasive and surgical, were accomplished. As a result, the development of the aesthetic medicine market is being driven by the increasing implementation of minimally invasive surgeries and access to a broader spectrum of minimally invasive treatment options.


Report Scope

Report MetricDetails
  Market SizeUSD 245 Billion by 2030
  CAGR9.8% (2020-2030)
  Historical Data2019-2020
  Base Year2021
  Forecast Period2022-2030
  Forecast UnitsValue (USD Billion)
  Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments CoveredBy Procedure Type,By Non-Invasive Procedures,By Region
  Geographies CoveredNorth America, Europe, Asia-Pacific, LAME and Rest of the World
  Key Companies Profiled/VendorsEvolus Inc.,AIVITA Biomedical,Ellman International, Inc.,Genesis Biosystems, Inc.,Lumenis Ltd.,Sciton, Inc.,Wells Johnson Company,Zeltiq Aesthetics, Inc.
  Key Market OpportunitiesAdvancements in Technology
  Key Market DriversIncreasing Adoption of Minimally Invasive Treatments
Growing Population Aged Between 25 to 65

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Impact of COVID-19

The aesthetics industry suffered massive setbacks as a result of the COVID-19 pandemic. Lockdowns in several countries led to the closure of beauty clinics, med spas, dermatology centers, and retail stores because many cosmetic procedures were not medically necessary. Healthcare professionals were urged to cancel non-emergency appointments by government officials and hospital administrators worldwide. COVID-19 had a detrimental effect on the invasive aesthetic treatment market in the first half of 2020, according to Springer, due to regulations on elective aesthetic treatments and overall hospital strain. Aesthetic surgeons were more concerned with maintaining cash flow to manage their expenses.

According to a survey conducted by Hamilton Fraser Cosmetic Insurance Company in the United Kingdom, COVID-19 had a significant impact on their operations, with 86% reporting a decrease in revenue and 72% stating that they had no contingency plan to deal with the pandemic. Due to increased online purchases, the cosmeceuticals (self-care) market saw a low impact during the pandemic. In contrast, invasive and minimally invasive needs, such as aesthetic surgeries, saw a significant influence due to the closure of aesthetic amenities and the temporary suspension of appointments.


Market Recovery Timeline

During the pandemic, demand for home skincare devices has increased. For example, sales of Philips' at-home Intense Pulse Light (IPL) hair removal system have increased, with solid demand in APAC. Many dermatologists believe the lockdowns will help patients return after the pandemic. For instance, in the United Kingdom, the number of first-time dermatology clinic visitors increased by 78 percent following the lockdowns.

According to the report, the requirement for surgical cosmetic procedures is anticipated to grow as patients have more flexibility and freedom to recover from systems due to social isolation and working from home. Rhinoplasty, facelifts, neck lifts, eyelid surgery, and eye lifts have increased significantly in popularity.

According to an Allergan survey conducted in April 2020, 95% of respondents said they planned to use a neurotoxin filler treatment once COVID-19 restrictions were lifted. A similar report reveals that 86 percent of private aesthetic clinics in China reopened in the third quarter of 2020, with a 52 percent increase in patient traffic. This indicated that the market was on the rise.


Regional Analysis

The global aesthetic medicine market is divided into North America, Europe, Asia-Pacific, Central and South America, and the Middle East and Africa. Asia-Pacific is expected to grow at a CAGR of 11% to reach an expected value of USD 64,155 million in 2030. With the increase in the demand for antiaging and antipollution products, rise in the standard of living, and growth in disposable income in Asia-Pacific countries, the aesthetic medicine market is expected to grow during the forecast period.

The aesthetic medicine market in North America is estimated to expand at a CAGR of 9.5% over the forecast period, reaching USD 83,875 million in 2030. The United States accounted for the largest share of the North American aesthetic medicine market. A Spike in the number of reconstructive surgeries is propelling the demand for aesthetic medicines in North America. 

Key Highlights

  • The Global Aesthetic Medicine Market was worth USD 105 billion in 2021 and is predicted to reach USD 245 billion in 2030, with a CAGR of 9.8% during the forecast period (2022–2030).
  • By procedure type, the global aesthetic medicine market is divided into invasive and non-invasive procedures. The non-invasive procedures are dominant over invasive procedures. They are expected to grow at a CAGR of 10.5% during the forecast period, to reach an expected value of USD 140,520 million in 2030. 


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List of Top Aesthetic Medicine Market Companies

  • Evolus Inc.
  • AIVITA Biomedical
  • Ellman International, Inc.
  • Genesis Biosystems, Inc.
  • Lumenis Ltd.
  • Sciton, Inc.
  • Wells Johnson Company
  • Zeltiq Aesthetics, Inc.


Global Aesthetic Medicine Market: Segmentation

By Procedure Type:

  • Invasive Procedures
  • Breast augmentation, 
  • Liposuction 
  • Nose reshaping
  • Eyelid 
  • surgery
  • Tummy tuck
  • Others 
  • Non-Invasive Procedures
  • Botulinum toxin type A
  • Soft tissue fillers 
  • Chemical peel 
  • Laser hair removal 
  • Microdermabrasion 

By Regions:

  • North America
  • Europe
  • Asia-Pacific
  • Central and South America
  • The Middle East and Africa


TABLE OF CONTENT

1          Introduction

1.1      Market Definition

1.2      Market Scope

2          Research Methodology

2.1      Primary Research

2.2      Research Methodology

2.3      Assumptions & Exclusions

2.4      Secondary Data Sources

3          Executive Summary

4          Market Overview

4.1      Report Segmentation & Scope

4.2      Value Chain Analysis: Aesthetic Medicine Market

4.2.1  Vendor Matrix

4.3      Key Market Trends

4.3.1  Drivers

4.3.2  Restraints

4.3.3  Opportunities

4.4      Porter’s Five Forces Analysis

4.4.1  Bargaining Power of Suppliers

4.4.2  Bargaining Power of Buyers

4.4.3  Threat of Substitution

4.4.4  Threat of New Entrants

4.4.5  Competitive Rivalry

4.5      Environment & Regulatory Landscape

4.6      Forecast Factors & Relevance of Impact

4.7      Macro-Economic & Geopolitical Scenario

4.8      Parent Market Overview

4.9      Technology Landscape

4.10   Market Share Analysis

4.11   Potential Venture Analysis

4.12   Regional Price Trends

4.13   Raw Material Trends

4.14   Cost Structure Analysis

4.14.1            Labor Cost

4.14.2            Consumables

4.14.3            Maintenance Cost

4.15   Covid-19 Impact Analysis:

4.15.1            Pre and Post Covid-19 Market Scenario Analysis

4.15.2            Market Recovery Timeline and Challenge

4.15.3            Measures Taken by Top Players

4.15.4            Quarterly Market Revenue and Growth Forecast till 2021

4.15.4.1        North America

4.15.4.2        Europe

4.15.4.3        Asia-Pacific

4.15.4.4        Central and South America and the Caribbean

4.15.4.5        The Middle East and Africa

5              Procedure Type Overview

5.1      Introduction

5.1.1  Market Size & Forecast (Value & Volume)

5.1.2  General Purpose Credit cards

5.1.3  Specialty and Other Credit Cards    

6             Regional Overview

6.1      Introduction

6.1.1  Market Size & Forecast (Value & Volume)

6.2      North America

6.2.1  Economic Overview

6.2.2  Market Scenario

6.2.3  U.S.

6.2.4  Canada

6.2.5  Mexico

6.3      Central and South America and the Caribbean

6.3.1  Economic Overview

6.3.2  Market Scenario

6.3.3  Brazil

6.3.4  Argentina

6.3.5  Colombia

6.3.6  Rest of Central and South America and the Caribbean

6.4      Europe

6.4.1  Economic Overview

6.4.2  Market Scenario

6.4.3  Germany

6.4.4  France

6.4.5  The U.K.

6.4.6  Italy

6.4.7  The Rest Of Europe

6.5      Asia-Pacific (APAC)

6.5.1  Economic Overview

6.5.2  Market Scenario

6.5.3  China

6.5.4  Japan

6.5.5  India

6.5.6  Australia

6.5.7  South Korea

6.5.8  Rest Of APAC

6.6      Middle East

6.6.1  Economic Overview

6.6.2  Market Scenario

6.6.3  South Arabia

6.6.4  The UAE

6.6.5  Qatar

6.6.6  Oman

6.6.7  Turkey

6.6.8  The Rest Of Middle East

6.7      Africa

6.7.1  Economic Overview

6.7.2  Market Scenario

6.7.3  Nigeria

6.7.4  South Africa

6.7.5  The Rest Of Africa

7          Competitive Landscape — Manufacturers & Suppliers

7.1      Competition Dashboard

7.2      Industry Structure

7.3      Evolus, Inc.

7.3.1  Business Overview

7.3.2  Financial Performance

7.3.3  Recent Developments

7.3.4  Portfolio

7.4      AIVITA Biomedical

7.5      Ellman International, Inc.

7.6      Genesis Biosystems, Inc.

7.7      Lumenis Ltd.

7.8      Sciton, Inc.

7.9      Wells Johnson Company

7.10   Zeltiq Aesthetics, Inc

8          Conclusion & Recommendation

9          Acronyms & Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/aesthetic-medicine-market/toc


Market News

  • In March 2021, Solta Medical announced the launch of the Clear + Brilliant Touch laser, its next-generation Clear + Brilliant laser, in the US.
  • In February 2021, Galderma announced that the US. FDA approved Restylane Defyne to improve mild-to-moderate chin restoration for adults over 21 years.
  • In January 2021, Candela Medical announced the launch of the Frax Pro system, a dual-depth skin resurfacing procedure in the US.
  • In October 2020, Hologic's Medical Aesthetics Subsidiary Cynosure expanded its TempSure 300-watt platform with the introduction of FlexSure in the U.S. and Canada.
  • In May 2020, Abbvie completed the acquisition of Allergan Plc for USD 63 billion. The move significantly expanded and diversified AbbVie's revenue base and complemented existing leadership positions in immunology.
  • In January 2020, Revance Therapeutics announced a US distribution agreement with Swiss hyaluronic acid (HA)-based dermal filler manufacturing company, TEOXANE SA. The partnership will help Revance gain immediate and exclusive access to Teoxane's Resilient HA (RHA) fillers in the US.

News Media

Aesthetic Medicine Market to Thrive at an Astonishing Healthy CAGR During Forecast Period 

World's Top 10 Brands In The Oral Hygiene In 2022

Botulinum Toxin Non-Surgical Aesthetic Procedures to Escalate the Market Growth


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