Medical Aesthetic Market is Estimated to be Worth USD 102.2 Billion by 2035 Exclusive Report by Roots Analysis

According to a recently published report by Roots Analysis, the growing preferences of maintaining a youthful appearance by treating conditions such as acne, fine lines, wrinkles, sunspots and unwanted hair using advanced aesthetic procedures are driving the medical aesthetic market. 

Global Medical Aesthetic Market 

LONDON, Jan. 8, 2024 /PRNewswire/ -- The medical aesthetic market is growing exponentially, anticipated to be worth USD 34.6 billion in 2023, and it is expected to reach USD 102.2 billion by 2035. The market will grow at a higher compounded annual growth rate (CAGR) of 9.4% during the forecast period from 2023 to 2035.

The growth of the medical aesthetic market is likely to be the result of increasing demand for aesthetic devices that help to maintain a youthful appearance in the long term. Medical aesthetic devices have been designed to improve appearance by treating myriad conditions such as acne, fine lines, lifting up face, sunspots, unwanted hairs, and wrinkles. Over the past few years, the demand for aesthetic treatment solutions has increased owing to the social media hype and increasing desire for achieving prolonged youthful skin. Aesthetic devices serve as a potential alternative to conventional cosmetic procedures that are invasive, painful, and require extended recovery time. It is interesting to note here that, according to a recent study conducted by the International Society of Aesthetic Plastic Surgery, in 2022, more than 15 million invasive aesthetic procedures and close to 19 million non-invasive aesthetic procedures have been performed worldwide. Owing to the increasing adoption of these procedures, market players are emphasizing the development of non-invasive solutions to improve the aesthetic appearance of individuals.

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Medical Aesthetic Market Report Scope:

Key Report Takeaways

• At present, over 205 medical aesthetic companies are engaged in offering medical aesthetic solutions across the globe; around 90% of these solutions address facial skin conditions, such as acne, wrinkles, and pigmentation.
• Due to the rising demand for painless procedures, medical aesthetic companies are actively offering non-invasive medical aesthetic solutions; of these, 62% are providing solutions for both skin tightening and fat reduction.
• In pursuit of gaining a competitive edge, stakeholders are steadily expanding their existing capabilities in order to enhance their respective product portfolios and drive compliance to evolving industry benchmarks.
• Post-2019, a considerable increase in partnership activity has been witnessed in this domain; 31% of the deals were mergers and acquisitions, signed primarily by players based in the US.
• Several investors have realized the opportunity within the domain of medical aesthetics and invested over USD 3.6 billion across various funding rounds in the past six years.
• Owing to the growing desire to achieve lifelong youthfulness and enhanced social media influence post-COVID, the medical aesthetics market is anticipated to witness an annualized growth of ~9% over the next decade.
• The estimated market opportunity is projected to be distributed across different end-users, genders, distribution channels, and key geographical regions.
• Within each region, the opportunity varies considerably across different countries; the market is relatively more mature in the US, Canada, Germany, the UK, China, and South Korea.
• Close to 60% of the medical aesthetic market is driven by the revenues generated from breast implant procedures, followed by Botox and dermal fillers.

Medical Aesthetic Market Insight

Market Drivers

Rise in the aging population has led to the surge in the demand for aesthetic surgical treatment to improve physiological well-being and achieve youthful skin. Moreover, the increasing requirement of minimally invasive or non-invasive cosmetic procedures such as Botox, chemical peeling, dermal fillers, and microdermabrasion to achieve an aesthetically naturally radiant look is driving the market. Growing consumer preferences for medical aesthetic services and technical advancements to develop less invasive treatments are further driving the market in the future.

Market Restraints

The stringent regulatory compliance and safety standards associated with the development of medical aesthetic systems may hinder the growth of the market. The new medical aesthetic systems that market players will develop have to meet regulatory compliance to ensure that treatment procedures are safe and effective to use on humans. Furthermore, the presence of alternative cost-effective cosmetic procedures and overall expensive medical aesthetic treatment procedures may hamper the growth of the market because consumers may prefer economical solutions. 

Growth Factors

One of the potential growth factors that are driving the medical aesthetic market is growing disposable income, which has led to an increase in people's spending on cosmetic procedures to enhance their appearance. Aesthetic treatment is considered a means of self-improvement to improve overall well-being. The growing preference for wellness and self-care has increased the demand for aesthetic procedures, which is anticipated to grow the market during the forecast period. Growth in the medical aesthetic market is also driven by advances in aesthetic technologies that cater to individual preferences for achieving patient satisfaction.

Recent Developments in the Medical Aesthetic Market

It is interesting to note here that the medical aesthetic market is witnessing steady capital investments by industrial stakeholders and the development of advanced technologies to improve the appearance of individuals. Examples of the ongoing research and development activities that have taken place in the field include,

• In June 2023, an extracellular nanoparticle technology (plant-derived) was supplied to S-Thetics, which is a medical aesthetic clinic in the US aiming to skin's signaling pathway to rebalance with plant versions of human exosomes for targeting inflammation.
• In January 2023, FACE by Galderma (an aesthetic visualization solution to stimulate the end results of different injectables produced by using face assessment. This application has been designed for wrinkle detection of more than 20 injectable treatments with head-to-head comparisons between before-treatment images and after-treatment images.
• In 2023, several market players have raised around USD 30 million, including Aeon Biopharma (USD 125 million), Establishment Labs (USD 90 Million), and Galderma (USD 1,000 million).

Medical Aesthetic Market Segments

Based on the Type of Products or devices offered, the Medical Aesthetic Market is segmented into Botulinum toxin, Dermal Fillers, Chemical Peels, Body Contouring, Gluteal Implants, Hair Removal, Breast Implants, and Other Products / Devices.

• Based on the type of products or devices offered, the medical aesthetic market is led by breast implants and is anticipated to capture 55.5% in 2023.
• Hair removal is anticipated to grow at a compounded annual growth rate (CAGR) of 11.04% during the forecast period 2023-2035.

Based on the type of procedure, the medical aesthetic market is segmented into non-invasive, minimally invasive, and invasive procedures.

• Based on the type of procedure, the market is led by invasive procedures, capturing 64.8% of the market share in 2023.
• Minimal invasive procedure is expected to grow at a higher CAGR rate of 9.72% during the forecast period.

Based on End-User, the Medical Aesthetic Market is segmented into Hospitals, Clinics / Med Spas, Dermatology / Cosmetology Centers, and other end users.

• Based on end-users, the medical aesthetic market is led by clinics / med spas and dermatology / cosmetology centers, capturing 50.0% of the market share in 2023.
• The clinics / med spas and dermatology / cosmetology centers are anticipated to grow at a CAGR of 9.57% during the forecast period.

Based on Gender, the Medical Aesthetic Market is segmented into Males and Females.

• Based on gender, females will dominate the market, and it is expected to hold a significant share (90%) in 2023.
• Males are estimated to grow the medical aesthetic market at a higher compounded annual growth rate (CAGR) of 20.5% during the forecast period 2023-2035.

Based on the Distribution Channel, the Medical Aesthetic Market is segmented Into Direct Distribution and Indirect Distribution.

• Based on the distribution channel, indirect distribution is dominating the medical aesthetic market, capturing 80% of the market share in 2023.
• Indirect distribution has shown significant potential to expand the market during the forecast period at a higher CAGR of 11.7%

Based on the Key Geographical Region, the Medical Aesthetic Market is segmented into North America, Europe, Asia-Pacific, the Middle East and North Africa, and Latin America.

• North America is dominating the market and is poised to capture 48.4% of the overall market share in 2023.
• In Asia-Pacific, the medical aesthetic market is anticipated to grow at a higher CAGR of 11.52% during the forecast period 2023-2035.

Key Companies Profiled

Examples of the key companies engaged in the medical aesthetic market (which have also been profiled in the market report; the complete list of the companies is also included in the full report) include:

• ADSS
• Allergan Aesthetics
• Astiland, Beijing Kes Biological Technology
• BTL Aesthetics
• Candela Medical
• Classys
• Croma Pharma
• Cynosure
• Daeyang Medical
• Establishment Labs
• Galderma
• Guangzhou Itech Aesthetics
• IBSA
• Lumenis
• Lutronic
• MedicalZone
• Mentor
• Sanhe Medical
• Shanghai Haohai Biological Technology
• Sinclair Pharma
• Sincoheren
• Skin Tech Pharma
• Wontech
• Zesay Beauty

Key Benefits of Buying this Report

• The report offers market leaders and newcomers valuable insights into revenue estimations for both the overall market and its sub-segments.
• Stakeholders can utilize the report to enhance their understanding of the competitive landscape, allowing for improved business positioning and more effective go-to-market strategies.
• The report provides stakeholders with a pulse on the medical aesthetic market, furnishing them with essential information on significant market drivers, barriers, opportunities, and challenges.

Browse Complete Report @ https://www.rootsanalysis.com/reports/medical-aesthetics-market.html 

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Skin Care Market - Skin Care Market (Distribution by Products (Face Creams, Moisturizers, Cleansers, Face Wash, Sunscreen, Body Creams, Shaving Lotions, Shaving Creams and Other Products), by Gender (Male and Female), by Distribution Channel (Supermarkets, Convenience Stores, Pharmacy, Online and Other Distribution Channels) and Key Geographical Regions (North America, Europe, Asia-Pacific, Middle East and North Africa and Latin America): Industry Trends and Global Forecasts, 2023-2035

Breast Implants Market - The global breast implants market size is estimated to be $19.2 billion in 2023 and is anticipated to grow at a compounded annual growth rate (CAGR) of around 9.6% over the forecast period 2023-2035.

Dermal Fillers Market - The global dermal filler market size is estimated to be $3.0 billion in 2023 and is anticipated to grow at a compounded annual growth rate (CAGR) of around 9% over the forecast period 2023-2035.

Botox Market - The global botox market size is estimated to be $4.3 billion in 2023 and is anticipated to grow at a compounded annual growth rate (CAGR) of around 10% over the forecast period 2023-2035.

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