Medical Aesthetics Market Analysis

Global Medical Aesthetics Market Overview

The Medical Aesthetics Market Size was anticipated at USD 16.8 Billion in 2022 and is projected to grow from USD 18.66 Billion in 2023 to USD 43.32 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.10% during the forecast period (2024 - 2032). The rising popularity of facials therapy, including cosmetic surgeries, and increasing obesity and senior population are the key market drivers contributing to the market’s growth and expansion.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

In July 2024, Galderma has announced the launch of a new product in its flagship Restylane® portfolio. This latest addition aims to enhance facial volume and contour with a novel formulation designed to offer longer-lasting results. 

In June 2024, Allergan has received FDA approval for a new aesthetic treatment under its Juvederm® brand. The new treatment is designed to improve the appearance of deep facial wrinkles and folds. This approval is expected to boost Allergan’s market presence and offer more options to consumers seeking advanced non-surgical facial rejuvenation solutions.

Medical Aesthetics Market Trends

• The growing popularity of facials therapy, including cosmetic surgeries, is driving the market growth

Market CAGR for medical aesthetics is driven by the popularity of facials therapy, including cosmetic surgeries. The number of cosmetic operations performed worldwide has gradually increased in recent years. Because of the benefits provided through these treatments, a large portion of the public is choosing safe and non-surgical treatments such as botulinum toxin injections and facial fillers. Among the advantages mentioned are fewer adverse reactions, shorter periods of recovery, and painless treatments. According to statistics from the Aesthetic Society in 2021, total non-surgical operations in the United States grew by 44.0% in 2021 relative to the prior year.

Additionally, the male population's attractiveness and acceptance of aesthetic operations are expanding year after year. Furthermore, the need for non-energy-based operations like superficial fillers for face and botulinum toxin injections is driving the overall increase in the number of procedures conducted. These characteristics, in addition to the gender balance in the adoption of cosmetic operations, are increasingly improving, resulting in an overall need for the market of medical aesthetics. Furthermore, Medicine is improving in multiple fields, indicating that procedures have gotten more effective than previously. Because treatments aren't any incisions required in most situations, Medical Aesthetics is appropriate for middle-aged and older people who hope to appear younger without undergoing surgery. They can generate excellent outcomes with minimal downtime.

The COVID-19 pandemic highlighted the market's adaptability, which was already apparent in an earlier crisis. Throughout the recession of 2008, it dropped only 2.4% of its revenue and fewer than 20% of its market cap. Furthermore, mandated lockdowns and interruptions in distribution networks impacted aesthetic device revenue, with many companies reporting reduced sales of their goods. The aesthetics market quickly recovered in 2021, supported by a post-Covid enhanced awareness and attention on aesthetics operations. The relaxation of restrictive limitations, the launch of novel products by leading market participants, and the rising desire for non-invasive cosmetic treatments all contributed to a growth in the need for medical aesthetics during post covid-19. Furthermore, the basic trends and increased worries about aging and health partially contributed to the recovery.

For instance, based on the International Society of Aesthetic Plastic Surgery Report 2020, the overall number of aesthetic operations performed in 2020 will be 524,064, including 255,528 surgical operations and 268,526 procedures that are not surgical. A rising number of aesthetic operations in India would need more aesthetic equipment, propelling market expansion. Thus, demand for Medical Aesthetics is expected to increase throughout the projection period due to the rising popularity of facials therapy, including cosmetic surgeries. Thus, driving the Medical Aesthetics market revenue.

Medical Aesthetics Market Segment Insights

Medical Aesthetics Product Insights

The Market segments of Medical Aesthetics, based on Product, includes Facial Aesthetics, Body Contouring Devices, Cosmetic Implants, Hair Removal Devices, Skin Aesthetic Devices, and Tattoo Removal Devices. The Facial Aesthetic dominated the market, accounting for 48% of the market share (USD 8.1 Billion) in 2022. Facial aesthetics are attributable to increased patient demand for facial aesthetic therapies, increasing treatments, rising per capita income and spending abilities, and a growing elderly population globally. Cosmetics implants are expected to grow significantly during the projected timeframe.

Medical Aesthetics Technology Insights

The Medical Aesthetics Market segmentation is based on Technology, Invasive, Non-Invasive, and Minimally Invasive. The Non-Invasive generated the highest revenue of about 49%, accounting for USD 8.2 billion in 2022. Reduced discomfort, faster outcomes, and lower costs are a few variables driving worldwide demand for non-invasive procedures. Injecting Botox, using soft tissue fillers into the area, and chemical peels are prominent non-invasive treatments.

Medical Aesthetics End-User Insights

The Medical Aesthetics Market segmentation based on End-User, includes Hospitals & Clinics and Dermatology & Cosmetic Centers. Hospitals & Clinics dominated the market, accounting for 69% of the market share (USD 11.6 billion) in 2022. The growing number of hospitals and clinics conducting aesthetic operations in various nations supports the sector's development. Furthermore, the increasing need for less-invasive treatments and the transfer of individuals away from hospitals are driving the expansion of this market.

Figure 1: Medical Aesthetics Market by End-User, 2023 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Medical Aesthetics Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Medical Aesthetics market area will dominate this market, owing to an increasing trend to undergo cosmetic procedures. In addition, the growing number of non-surgical and surgical procedures will boost market growth in the North American region.

Furthermore, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Medical Aesthetics Market Share by Region 2023 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Medical Aesthetics market accounts for the second-largest market share due to the expanding number of non-invasive operations and the increasing need for healthcare tourism, in which individuals come from other nations to Germany, Spain, and the UK for various treatments are driving the market expansion in Europe. Further, the German market of Medical Aesthetics dominates the market share, and the UK market of Medical Aesthetics is anticipated to grow rapidly in the European region.

The Asia-Pacific region's Medical Aesthetics Market is expected to grow significantly during the projected timeframe. Increasing consumer knowledge and curiosity in processes attempts to develop regional economies, and advertising strategies used by existing market participants will help the market expand tremendously throughout the projection period in this region. Furthermore, a rise in investment in healthcare tourism is providing significant advantages to the business. Moreover, China’s Medical Aesthetics market dominates the market share, and the Indian market of Medical Aesthetics is anticipated to grow quickly in the Asia-Pacific region.

Medical Aesthetics Key Market Players & Competitive Insights

Leading market players invested heavily in research and development (R&D) to expand their manufacturing units and product lines, which will help the market of Medical Aesthetics grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their global footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. The Medical Aesthetics industry must offer cost-effective and sustainable options to survive in a fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses is one of the key business strategies organizations use in the global Medical Aesthetics industry to benefit customers and capture untapped market share and revenue. The Medical Aesthetics Market has offered significant advantages to Medicine and healthcare. Major players in the Medical Aesthetics market, including Galderma Laboratories, L.P (US)., Allergan plc (Ireland), Merz Pharmaceuticals GmbH (Germany), Lumenis (Israel), and Bausch Health (US)., are attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.

Mentor Worldwide LLC (Mentor), a Johnson & Johnson Medical Devices Companies division, creates, produces, and distributes surgical equipment emphasizing medical aesthetics. The headquarters of the corporation is in Santa Barbara, California. It provides implants for the breasts. The firm's goods are utilized in breast enhancement, rebuilding, and liposuction procedures. They revealed in January 2022 that the FDA had authorized the MENTOR MemoryGel BOOST implant for breasts for augmentation of the breast and rehabilitation. This Product has assisted the corporation in expanding its aesthetic offering in the US marketplace.

HRA Pharma is a young European pharmaceutical business that creates drugs, gadgets, and support services in particular wellness fields and makes these products accessible to healthcare professionals and patients worldwide. The firm, located in Paris, France, has established an extensive network of research and development, production, distribution, and non-governmental organization (NGO) partners, allowing it to meet key patient requirements and enhance patients' health in more than 50 nations worldwide. At the start of 2019, during the pre-pandemic period, an important market participant with a base in France, HRA Pharma, stepped ahead and purchased an established German organization. Merz was the brand name of the firm. The primary goal of this purchase is to advance the business's line of goods in surgical medical aesthetics, particularly during the current projection term that concludes.

Key Companies in the market of Medical Aesthetics include

• Galderma Laboratories L.P (US).


• Allergan plc (Ireland)


• Merz Pharmaceuticals GmbH (Germany)


• Lumenis (Israel)


• Bausch Health (US)

Medical Aesthetics Industry Developments

January 2022:Mentor Worldwide LLC, a subsidiary of Johnson & Johnson, revealed in January 2022 that the FDA had authorized the MENTOR MemoryGel BOOST implant for breasts for augmentation of the breast and rehabilitation. This Product has assisted the corporation in expanding its aesthetic offering in the US marketplace.

October 2020:Alma Lasers proposed the release of Alma Hybrid in 2020, integrating the strength of CO2 laser, 1570 nm laser, and IMPACT for non-ablative,  ablative, and thermal procedures for rejuvenation of the face renewal and scar modification.

January 2019 At the start of 2019, during the pre-pandemic period, an important market participant with a base in France, HRA Pharma, stepped ahead and purchased an established German organization. Merz was the brand name of the firm. The primary goal of this purchase is to advance the business's line of goods in surgical medical aesthetics, particularly during the current projection term that concludes.

Medical Aesthetics Market Segmentation

Medical Aesthetics Product Outlook

• Facial Aesthetic


• Body Contouring Devices


• Cosmetic Implants


• Hair Removal Devices


• Skin Aesthetic Devices


• Tattoo Removal Devices

Medical Aesthetics Technology Outlook

• Invasive


• Non-Invasive


• Minimally Invasive

Medical Aesthetics End-User Outlook

• Hospitals & Clinics


• Dermatology & Cosmetic Centers

Medical Aesthetics Regional Outlook

• 
  

  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America