Pune, Sept. 28, 2023 (GLOBE NEWSWIRE) — “The SNS Insider report indicates that the Medical Aesthetics Market, which was valued at USD 12.10 billion in 2022 and is projected to reach USD 28.70 billion by 2030, with an anticipated compound annual growth rate (CAGR) of approximately 11.4% during the forecast period from 2022 to 2030.”
Medical aesthetics, also known as aesthetic medicine or cosmetic medicine, is a specialized field of medicine that focuses on enhancing a person’s appearance through non-invasive and minimally invasive procedures. Unlike traditional medical treatments that aim to cure or manage medical conditions, medical aesthetics primarily aims to improve the aesthetic aspects of a patient’s appearance. These procedures are typically elective and are chosen by individuals who wish to enhance their physical features or address concerns related to their appearance.
There is a growing preference for non-invasive or minimally invasive treatments over traditional surgical options. Patients are increasingly seeking procedures like Botox, dermal fillers, and laser treatments that offer less downtime and fewer risks. As the global population continues to age, the demand for anti-aging treatments has surged. The desire to maintain a youthful appearance and address age-related concerns such as wrinkles and sagging skin is a significant driver for the medical aesthetics market. Continuous advancements in medical aesthetics technologies have made procedures safer, more effective, and less painful. Innovations in laser technology, injectables, and devices for skin rejuvenation have expanded the range of available treatments. The rise in disposable income levels across many regions has made medical aesthetic treatments more accessible to a broader demographic. People are willing to invest in these procedures to enhance their quality of life.
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Major Players Listed in this Report are:
The KeyPlayers are Allergan, Johnson & Johnson, Galderma, Lumenis, Cynosure, AbbVie, Cynosure, Evolus Inc., Revance Therapeutics, Inc, Galderma, Lumenis, Solta Medical, Syneron Candela, Alma Laser and other players
Medical Aesthetics Market Report Scope:
|Market Size in 2022||US$ 12.10 Bn|
|Market Size by 2030||US$ 28.70 Bn|
|CAGR||CAGR of 11.4% From 2023 to 2030|
|Key Regional Coverage||North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)|
Key Takeaway from Medical Aesthetics Market Study
- In the ever-evolving world of medical aesthetics, the Facial Aesthetic segment has emerged as a dominant force, reshaping the beauty industry and the way we perceive self-enhancement. This dynamic sector encompasses a wide range of procedures and treatments aimed at rejuvenating and enhancing the facial features of individuals, ultimately boosting their self-esteem and confidence.
- Within the market, the Hospitals & Clinics segment plays a pivotal role in providing a wide array of services, both invasive and non-invasive, to meet the growing demand for aesthetic enhancements. This segment is poised for continued dominance due to its role as a hub for professional expertise, cutting-edge technology, and patient-centric care.
- In a groundbreaking move, MedShift, a leader in healthcare technology solutions, has recently unveiled its innovative Software as a Service (SaaS) platform tailored specifically for medical aesthetic businesses. This pioneering platform promises to transform the way these businesses operate, providing them with a competitive edge in a rapidly evolving industry.
- Empower Aesthetics, a pioneering leader in the world of aesthetic enhancements, announced a groundbreaking partnership with The Artistry of Face, a renowned name in the realm of facial aesthetics and beauty. This collaboration marks a significant milestone for both companies, as they join forces to offer a comprehensive range of innovative treatments and services to clients seeking the pinnacle of aesthetic perfection.
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Market Dynamics Analysis
The medical aesthetics market has been experiencing dynamic growth over recent years, driven by several key drivers while also facing its fair share of challenges and threats. One of the primary drivers propelling the market is the increasing global demand for minimally invasive cosmetic procedures. Patients seeking to enhance their appearance without undergoing extensive surgery are turning to treatments like Botox injections, dermal fillers, and laser therapies. Additionally, the aging population, particularly in developed countries, is a significant driver, as individuals seek to combat the signs of aging. Moreover, the growing disposable income and changing lifestyles contribute to the market’s expansion, as people are willing to invest in their aesthetic well-being. However, alongside these drivers, the market also grapples with notable restraints and challenges. One prominent challenge is the regulatory landscape and varying approval processes for different aesthetic treatments across different regions. This fragmentation often poses a hurdle for manufacturers and healthcare providers seeking to offer consistent services globally. As for threats, a potential one arises from the rise of counterfeit and unregulated aesthetic products and services. These pose significant health risks to patients and can tarnish the reputation of the medical aesthetics industry. Additionally, the global economic uncertainty and unforeseen public health crises, as exemplified by the COVID-19 pandemic, can disrupt the market’s growth trajectory.
Medical Aesthetics Market Key Segmentation:
By Product type
- Facial Aesthetic
- Body Contouring
- Cosmetic Implants
- Hair Removal Devices
- Skin Aesthetic Devices
- Tattoo Removal Devices
- Minimally Invasive
By End users
- Hospitals & Clinics
- Dermatology & cosmetic centers
Key Regional Developments
North America, particularly the United States, has traditionally been at the forefront of the medical aesthetics market. The region boasts a strong healthcare infrastructure, a large patient pool seeking cosmetic procedures, and a high level of disposable income. Regulatory approvals for new aesthetic treatments were relatively faster in the U.S., contributing to the market’s growth. Europe has seen steady growth in the market, with countries like the United Kingdom, Germany, and France emerging as key players. The demand for non-surgical procedures, including injectables and skin rejuvenation treatments, has been on the rise. The Asia-Pacific region has witnessed remarkable growth in the market due to rising disposable incomes, a growing middle class, and increasing awareness of cosmetic procedures.
Impact of Recession on Medical Aesthetics Market Growth
A recession can have a notable impact on the medical aesthetics market, leading to reduced demand, financial challenges for providers, and changes in consumer behavior. However, opportunities for innovation, adaptability, and strategic marketing can help businesses navigate and potentially thrive in these challenging economic conditions. It’s essential for industry stakeholders to closely monitor economic trends, adjust their strategies, and remain responsive to changing consumer needs during recessions.
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Table of Contents
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Medical Aesthetics Market By Product Type
9. Medical Aesthetics Market By Technology
10. Medical Aesthetics Market By End-User
11. Regional Analysis
12. Company profile
13. Competitive Landscape
14. Use Case and Best Practices
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