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According to The Business Research Company’s research on the medical aesthetics market, the adoption of robot-based surgery is the key trend gaining popularity in the medical aesthetics market. Major companies operating in the medical aesthetics market are focused on developing new technological solutions to strengthen their position. For instance, in November 2021, Smith-Nephew, a UK-based manufacturing company that operates in medical aesthetics, launched CORI, a surgical tool using robotic technology. It is an advanced handheld robotic used in total and partial knee arthroplasties. It is the first technology to place the surgeon in the digital operating room and is a compact mobile solution incorporating an advanced robotic sculpting tool with a 3-D intraoperative imaging system. Patients get less painful treatment with fewer revisions required and thus have greater satisfaction post-surgery.
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The global medical aesthetics market size is expected to grow from $8.67 billion in 2021 to $9.82 billion in 2022 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The market is expected to grow to $15.63 billion in 2026 at a CAGR of 12.3%.
The growing adoption of minimally invasive and non-invasive aesthetic procedures is expected to propel the growth of the medical aesthetics market going forward. Minimally invasive procedures refer to the technique used by medical professionals to limit the size and quantity of incisions or injections. There is a rise in minimally invasive and non-invasive aesthetic procedures, which are used as treatments in medical aesthetics because they are quick, minimally invasive, safe, effective, and require little downtime. For instance, in December 2021, according to Botox Statistics, a US-based society of plastic surgeons data, the average annual rate of Botox injections climbed by about 459% in 2020 since its inception. Every year, 4-5 million people receive Botox. In 2020, there were 44,101 Botox procedures performed, with each treatment costing between $1.3 billion and $2.6 billion. Therefore, the growing adoption of minimally invasive and non-invasive aesthetic procedures is driving the medical aesthetics market growth.
AbbVie Inc, Medytox Inc, Galderma S. A., Alma Lasers Ltd, Merz Pharma GmbH and Co KGaA, Cynosure LLC, Fotona d.o.o., Anika Therapeutics Inc., Johnson & Johnson, Cutera Inc, Solta Medical International Inc, Quanta System SpA, Sisram Medical Ltd., SharpLight Technologies Inc, and Revance Therapeutics Inc are major players in the medical aesthetics market.
North America will be the largest region in the medical aesthetics market in 2021. Asia-Pacific is expected to be the fastest-growing region in the medical aesthetics market during the forecast period. The regions covered in this medical aesthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The global medical aesthetics market is segmented by product into facial aesthetic products, body contouring devices, cosmetic implants, hair removal devices, skin aesthetic devices, tattoo removal devices, thread lift products, physician-dispensed cosmeceuticals and skin lighteners, physician-dispensed eyelash products, nail treatment laser devices; by technology into invasive, non-invasive, minimally invasive, other technologies; by distribution channel into direct tender, retail; by application into anti-aging and wrinkles, facial and skin rejuvenation, breast enhancement, body shaping and cellulite, tattoo removal, vascular lesions, psoriasis and vitiligo, other applications; by end user into clinics, hospitals, and medical spas, beauty centers, home care.
Medical Aesthetics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide medical aesthetics market overview, medical aesthetics market forecast size and growth, medical aesthetics market segments, medical aesthetics market trends, medical aesthetics market drivers and restraints, medical aesthetics market leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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