Face Skin Care. Close-up Of Woman Getting Facial Hydro Microdermabrasion Peeling Treatment At Cosmetic Beauty Spa Clinic. Hydra Vacuum Cleaner. Exfoliation, Rejuvenation And Hydratation. Cosmetology.

The market’s trajectory is nothing short of remarkable. As of 2022, the global medical aesthetics market boasted a valuation surpassing USD 5.86 billion. A future of unprecedented growth beckons, with projections foreseeing an ascent to over USD 7.94 billion by 2032. This surge is set to unfold at a compelling Compound Annual Growth Rate (CAGR) of 3.29% throughout the forecast period spanning from 2023 to 2032.

Medical Aesthetics Market Size 2023 - 2032

The Present Landscape

A Blossoming Medical Aesthetics Market

The current standing at USD 5.86 billion underscores the thriving nature of medical aesthetics market. This industry, synonymous with beauty enhancement and well-being, is witnessing substantial growth. The increasing demand for non-invasive cosmetic procedures and cutting-edge technologies is steering the sector towards unparalleled prosperity.

A Glimpse into the Future

Projections for 2032

With a bullish outlook, the medical aesthetics market is poised for remarkable expansion. By 2032, analysts anticipate the industry to eclipse the USD 7.94 billion mark. This trajectory is indicative of the growing consumer inclination towards aesthetic treatments and the continuous innovation within the sector.

Factors Driving Growth

Technological Advancements

In the competitive landscape of medical aesthetics market, technological innovation stands as a catalyst for growth. Advancements in non-surgical procedures, laser therapies, and rejuvenation techniques are driving the market’s evolution. Consumers are increasingly drawn to these state-of-the-art solutions, fostering an environment conducive to substantial market expansion.

Rising Beauty Consciousness

The 21st century has witnessed a paradigm shift in societal attitudes towards beauty and self-care. A surge in beauty consciousness has propelled the demand for aesthetic treatments, influencing individuals to invest in procedures that enhance their physical appearance. This cultural shift is a pivotal driver steering the medical aesthetics market towards unprecedented heights.

Aging Population

As the global population ages, the demand for anti-aging treatments and cosmetic procedures is on the rise. The desire to maintain a youthful appearance is a significant factor fueling the growth of the medical aesthetics market. This demographic trend contributes substantially to the market’s positive trajectory.

Forecasting the Journey

CAGR Insights

The projected CAGR of 3.29% from 2023 to 2032 signifies a steady and sustainable growth path for the medical aesthetics market. This trajectory is a testament to the industry’s resilience and its ability to adapt to evolving consumer preferences and technological advancements.

Regional Dynamics

Examining regional variations is crucial in understanding the market’s pulse. While established markets continue to contribute significantly, emerging economies are becoming pivotal players. The globalization of beauty standards is fostering growth in regions where the medical aesthetics market was once nascent.

An increase in the adoption of Robot-based surgery helps in reducing cost as well as provide open procedures treatments.

Medical aesthetics market are procedures used to improve cosmetic appearances. It is a fusion of healthcare and beauty, and it contains many types of skin treatments like skin tightening, laser hair removal lip fillers, etc. People doing aesthetic procedures from ancient days for beautiful looks. In Ancient times Egypt people used milk and honey baths for beauty now they switch on aesthetic procedures to help people to achieve the look they want including medical aesthetics market.

Medical aesthetics market has a huge demand worldwide for energy-based, minimally invasive procedures for skin tightening, wrinkle reduction, face contouring, and skin rejuvenation.

The expansion of the market for aesthetic devices is anticipated to be constrained by the high cost of aesthetic surgery procedures and the negative effects of the devices used in those procedures. The medical aesthetics market is driven by expanding public awareness and medical aesthetic devices are used to treat impairments associated with a person’s aesthetic appearance or to enhance the same.

In addition, these devices (particularly implants) rectify the malformations caused due to accidents, trauma, and other congenital disorders. The medical aesthetics market devices is driven by an increase in technological advancements, high demand for minimally invasive & non-invasive reconstruction surgeries, a rise in the incidence of congenital face & tooth deformities, and growth in awareness for aesthetic appearance.

However, this growth is limited due to the high costs of treatment, low reimbursements, and risk of malfunctions associated with implants. The growth of the medical tourism industry, the emergence of tourism medical spas, and the adoption of aesthetic procedures are on the verge to enhance physical appearance and provide several opportunities for key market players.

Navigating the Future

CAGR Insights

The projected CAGR of 3.29% from 2023 to 2032 signifies a steady and sustainable growth path for the medical aesthetics market. This trajectory is indicative of the industry’s resilience and its ability to adapt to evolving consumer preferences and technological advancements.

Regional Dynamics

Understanding regional variations is essential to grasp the market’s pulse. Established markets continue to contribute significantly, while emerging economies are emerging as key players. The globalization of beauty standards is fostering growth in regions where the medical aesthetics market was once in its infancy.

Regulatory Scenario

Government regulation affects several aspects of the medical aesthetic market. For instance. The latest regulations on MDs in the EU are the Medical Devices Regulation (MDR), Regulation 2017/745, published on 5 April 2017, and entered into force on 25 May 2017. The regulation, to reshape and improve essential health and safety practices and guidelines, has widened the scope not only of aesthetic products but also non-medical devices.

Covid Impact on the Medical Aesthetics Market

COVID-19 has a potential economic impact and implications on most sectors, including the pharmaceutical and medical device industries. Governments worldwide are now responding to the threat of COVID-19 with all the essential measures, such as social distancing, travel restrictions, and large-scale quarantines, that are anticipated to impact businesses and consumer spending negatively.

Many countries had been in lockdown and have suspended trade with other countries, leading to declining market capitalizations of major companies across the world, along with a decline in industrial production and other businesses. Thus, the rising COVID–19 cases are expected to have a short-term impact on surgical rates of cosmetic procedures. The short-term effects on the surgical segment are less prominent. However, the adverse impacts of COVID-19 on the global economy may have significant indirect effects on the surgical segment of the market.

The emergence of COVID-19 has ushered in unprecedented challenges, with far-reaching economic implications for various sectors, including pharmaceuticals and medical devices. Governments worldwide have responded with essential measures like social distancing, travel restrictions, and large-scale quarantines, all of which are expected to cast a negative shadow on businesses and consumer spending. The pharmaceutical and medical device industries, crucial components of the healthcare landscape, are not exempt from the repercussions.

the aesthetic medicine market finds itself at the intersection of healthcare and economic challenges spurred by the COVID-19 pandemic. While the short-term impacts on surgical rates are notable, the industry’s resilience and adaptability will be crucial in mitigating these effects. As global economies work towards recovery, the aesthetic medicine market must remain agile, prepared to navigate uncertainties, and emerge stronger in the post-pandemic landscape.

Global Response and Economic Ripples

Governments globally have implemented stringent measures to counter the threat posed by COVID-19. Lockdowns, trade suspensions, and travel restrictions have become commonplace, leading to a cascade of effects on the world stage. Major companies worldwide have witnessed a decline in market capitalizations, and industrial production, along with other businesses, has suffered.

The Pharmaceutical and Medical Aesthetics Market

The pharmaceutical and medical device industries, integral to healthcare advancements, are navigating the challenges posed by the pandemic. The economic ramifications of COVID-19 have created a ripple effect, impacting various facets of these industries. The repercussions extend beyond immediate concerns, influencing market dynamics and, consequently, the global aesthetic medicine market.

Short-Term Impact on Cosmetic Procedures

The imposition of measures such as lockdowns and trade suspensions has inevitably affected the surgical rates of cosmetic procedures. The short-term effects on the surgical segment, while noticeable, are not as prominent as in other sectors. However, the overarching impact of COVID-19 on the global economy may have substantial indirect effects on the surgical segment of the aesthetic medicine market.

Adapting to Uncertain Times

As the world grapples with the ongoing challenges posed by the pandemic, the aesthetic medicine market is forced to adapt. The short-term disruptions in surgical rates necessitate strategic adjustments. Stakeholders in the industry must stay vigilant and responsive to evolving circumstances, charting a course that aligns with the dynamic nature of the global economy in the wake of COVID-19.

Expanding Awareness about Aesthetic Devices Drives Market Growth

The medical aesthetics market is driven by expanding public awareness, medical aesthetic devices are used to treat impairments associated with a person’s aesthetic appearance or to enhance the same. In addition, these devices (particularly implants) rectify the malformations caused due to accidents, trauma, and other congenital disorders. The medical aesthetics market is driven by an increase in technological advancements, high demand for minimally invasive & non-invasive reconstruction surgeries, a rise in the incidence of congenital face & tooth deformities, and growth in awareness for aesthetic appearance.

However, this growth is limited due to the high costs of treatment, low reimbursements, and risk of malfunctions associated with implants. The growth of the medical tourism industry, the emergence of tourism medical spas, and the adoption of aesthetic procedures are on the verge to enhance physical appearance and provide several opportunities for key market players.

Growing Adoption of Minimally Invasive and Non-Invasive Aesthetic Procedures Provides a Future Opportunity for the Market

In the past decade, there has been a significant increase in the preference for minimally invasive and non-invasive aesthetic procedures over traditional surgical procedures. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, such as less pain, reduced scarring, and quicker recovery. These procedures are also more economical than traditional surgical procedures.

As per the International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall increase of 5.4% in the number of plastic and cosmetic procedures between 2017 and 2018. In addition to this, the prices of dermal fillers, botulinum toxins, and skin care products tend to go up, mostly, as the companies raise the prices. However, in countries, like the United States, there are certain reward programs one can sign up for, to help lower the price. Moreover, presently, many physicians are offering promotions during the year, which prove to be useful to lower the price

Segmentation Outlook:

Based on type, the medical aesthetic market has been segmented into invasive and non-invasive. The invasive segment is further bifurcated into Breast Augmentation, Tattoo Removal, Liposuction, Eyelid Surgery, Hair Removal, Tummy Tuck, and Others. And the non-invasive segment is bifurcated into Dermal Fillers, Chemical Peels, Botulinum Toxin, Microdermabrasion, and Others.

Medical Aesthetics Market Share, By Type, 2022 (%)

The non-invasive type of segment is dominating segment in the medical aesthetic market. Recently, there has been an increasing trend of the shift of patients from more complicated, time-consuming invasive procedures to minimally invasive and non-invasive procedures for aesthetic applications. Aesthetic lasers offer effective non-invasive methods of body contouring, fat reduction, and other cosmetic procedures.

Therefore, the adoption of aesthetic lasers is increasing, and this trend is expected to continue throughout the forecast period. In the past decade, there has been a significant increase in the preference for minimally invasive and non-invasive aesthetic procedures over traditional surgical procedures. Minimally invasive/nonsurgical alternatives offer various advantages over traditional surgical procedures, such as less pain, reduced scarring, and quicker recovery.

These procedures are also more economical than traditional surgical procedures. As per the International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall increase of 5.4% in the number of plastic and cosmetic procedures between 2017 and 2018. The non-invasive type segment was valued at $7,855.5 million in 2020 and is expected to reach more than $14,774.6 million by 2027, growing at a CAGR of 9.6% during the forecast period. However, the invasive market was valued at $3,541.3 million in 2020 and is expected to reach more than $6,417.8 million by 2027, growing at a CAGR of 9.0% during the forecast period.
Medical Aesthetics Market Share, By Application, 2022 (%)

Based on applications, the market has been Acne Scars Removal, Lip Augmentation, Wrinkle Removal, Rhinoplasty, and Others. In 2022, the others segment accounted for the maximum share of the medical aesthetic market across the globe. Others include hair transplants, dental implants, eyelid surgery, facelift, facial implants, and more. For illustration, in hair transplant, service providers use an extractor with a tiny punch graft of 0.5-0.8 mm diameter which is much smaller than the conventional FUE techniques leaving no visible scarring. Dental implants are replacement tooth roots.

Implants provide a strong foundation for fixed (permanent) or removable replacement teeth. Such implants and procedures contribute to the growth of the other segment over the forecasting period. The other segment in the application segment was valued at $6,888.5 million in 2020 and is expected to reach more than $12,617.4 million by 2027, growing at a CAGR of 9.2% during the forecast period. However, the rhinoplasty segment was valued at $708.8 million in 2020 and is expected to reach more than $1,400.4 million by 2027, growing at a CAGR of 10.4% during the forecast period.

Medical Aesthetics Market Share, By End User, 2022 (%)

Based on end users, the market has been segmented into hospitals & clinics, beauty centers, and home care. According to this segment, in 2022, the Hospitals & clinics segment was the highest contributor to the global medical aesthetics market. Followed by beauty centers and spas. Hospitals and clinics provide facilities for a variety of cosmetic procedures that include breast augmentation, breast reduction, facelift, eyelid surgery, rhinoplasty, liposuction, breast lift, tummy tuck, body lift, hair transplant, laser resurfacing, laser hair removal, reconstructive surgeries, and hand surgery.

Due to the popularity of cosmetic procedures, hospitals & clinics have installed the latest technologically advanced devices and products to provide effective, yet minimally invasive cosmetic reconstruction methods. This has enabled hospitals to provide almost all types of cosmetic procedures for patients. This will contribute to the growth of the segment over the forecasting period at the global level.

North America Leading Region for Medical Aesthetics Market

The life cycle for medical aesthetics market has been analyzed for regions such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. In 2022, North America held the largest share of the global medical aesthetics market, a trend that is expected to continue throughout the forecast period. Advanced healthcare infrastructure, adoption of cosmetic procedures, increasing prevalence of skin disorders, and the presence of board-certified and skilled cosmetic surgeons in the region are some of the major factors contributing to the growth of the aesthetic medicine market in this region.

There is a vast growth of aesthetic procedures by facial injectables in Canada. These procedures are being performed in non-clinical organizations like shopping malls, beauty salons, or day spas, as well. Owing to this, the regulations of the Canadian Association of Medical Spas & Aesthetic Surgeons (CAMAS) must be adhered to ensure safety.

The global medical aesthetics market is embarking on a journey marked by substantial growth. From its current valuation of USD 5.86 billion in 2022, the industry is projected to ascend beyond USD 7.94 billion by 2032. This progression, fueled by technological innovations, shifting societal perspectives on beauty, and an aging population, underscores the resilience and potential of the medical aesthetics market. As the industry continues to evolve, businesses and practitioners alike must navigate these dynamics to capitalize on the burgeoning opportunities within this thriving sector.

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By Sanskruti

Sanskruti Sathe is a passionate healthcare professional author dedicated to improve advancing healthcare knowledge. With over a decade of experience in the field, Sanskruti has worked in various healthcare research institutions. She holds a Master's degree in Public Health and has authored several articles and books on topics ranging from chronic disease management to healthcare policy. As an advocate for evidence-based practice, Sanskruti continues to contribute to the healthcare community through her writing and consulting work.