Aesthetic Medicine Market Analysis

Aesthetic Medicine Market Analysis

Aesthetic medicine market by type is segmented as non-surgical and surgical. Non-surgical segment held over 64% market share in 2022. With growing introduction of devices for non-surgical aesthetics and population awareness regarding minimally invasive techniques will augment the growth of non-surgical procedures. Innovations in non-invasive procedure technology has led to lesser procedure time with faster recovery which is positively impacting procedure adoption.
 

Non-surgical procedures include facial injectables and, cryolipolysis, among others. Such procedures assist in correcting facial lines, wrinkles, cellulite reduction and reduction of unwanted fat within short time period and with minimal side effects. Furthermore, a considerable increase in desire to overcome the signs of aging has been observed over the past few years. Thus, adoption of non-surgical anti-aging procedures especially by elderly population base will augment the segmental demand.
 

Aesthetic medicine market by product is classified into energy-based and non-energy based. Energy-based is further segmented into laser-based aesthetic device, light-based aesthetic device, radiofrequency (RF)-based aesthetic device, ultrasound aesthetic device and others. Non energy-based includes dermal fillers, botulinum toxin, implants and others. Non energy-based segment is estimated to surpass USD 36.5 billion by 2032. High demand for wide range of non-surgical procedures is supplementing the segment expansion.
 

Increasing disposable income in emerging economies has resulted in adoption of advanced aesthetic medicines. Dermal fillers, being one of the most commonly adopted non-energy-based procedures are used to give volume and fullness to an individual's skin. Moreover, growing demand of facial aesthetics, cost-effectivity and surge in ageing population will further escalate the demand for dermal fillers. Thus, owing to high procedural volume and preference for minimally invasive procedures, the segment will foresee robust growth in forthcoming years.
 

Aesthetic medicine market by gender is classified into male and female. Male and female segment is further classified on the basis of age as 18 years and below,19-34 years, 35-50 years, 51-64 years and 65 years and above. Female segment accounted for more than 79% revenue share in 2022 due to increasing adoption of facial surgeries such as rhinoplasty, blepharoplasty and breast augmentation procedures. Moreover, increasing adoption of breast augmentation procedures among female between 19-34 years of age will foster the demand for breast aesthetics thereby augmenting the market statistics.
 

Aesthetic medicine market by end-use is segregated into hospitals, ambulatory surgical centers, beauty centers and medical spas, dermatology clinics and home settings. Hospitals segment is projected to reach over USD 14.7 billion revenue by 2032. Increasing number of surgeries worldwide and rising expenditure on healthcare infrastructure in emerging economies will enhance the adoption of advanced aesthetic procedures.
 

Requirement of skilled professionals to perform aesthetic procedures, high cost associated with the aesthetic devices and availability of well-developed healthcare facilities will increase the number of procedures in hospitals. Moreover, growing demand for liposuction and abdominoplasty surgery along with high requirement of sophisticated infrastructure and expertise will drive the segmental expansion.
 

North America aesthetic medicine market accounted for over USD 8.6 billion in 2022 and will witness remarkable growth during analysis timeframe due to rising focus on aesthetic appearance, technological advancements and rising inclination of people towards less invasive surgical procedures, primarily in the U.S. Growing adoption of sedentary lifestyle leading to increased incidence of obesity has intensified the demand for fat reduction procedures over the years. Growing expenditure on cosmetic and rejuvenation procedures for enhancing aesthetics is growing rapidly among the people in the region.
 

There are several leading players focusing in the U.S. market. These firms are emphasizing on product innovation collaborations that significantly contributes to the market demand. Due to high awareness and adoption of innovative technologies in the U.S., market players witness momentous growth potential.