Aesthetic Medicine Market Expected to Reach US$ 129.1 Billion by 2023-2030

cmianjali

posted on 7 months ago — updated on 1 second ago

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Aesthetic Medicine Market

Market Overview:
The aesthetic medicine market is predicted to reach a valuation of US$ 129.1 billion by 2022 with a CAGR of 14.5% over the forecast period of 2023-2030. Aesthetic medicine includes various products and procedures that enhance and improve the appearance of an individual. These products offer great advantages such as skin rejuvenation, reduction of wrinkles and fine lines, hair removal, and body sculpting. The increasing demand for aesthetic treatments, driven by factors such as rising disposable income, growing awareness about physical appearance, and the influence of social media, is fueling the growth of the aesthetic medicine market. Additionally, advancements in technology and the introduction of non-invasive treatment options are further propelling the market growth.

Market Key Trends:
One key trend in the aesthetic medicine market is the increasing popularity of minimally invasive procedures. These procedures involve minimal incisions, require less downtime, and offer natural-looking results, which appeal to a wide range of consumers. Minimally invasive treatments such as botulinum toxin injections, dermal fillers, and laser hair removal are gaining traction among individuals seeking quick and effective cosmetic enhancements without undergoing invasive surgeries. The trend towards minimally invasive procedures is driven by factors such as the desire for subtle improvements, the fear of surgical complications, and the convenience of shorter recovery periods. This shift towards non-surgical options is expected to continue driving the growth of the aesthetic medicine market in the forecast period.
Segment Analysis:

The aesthetic medicine market can be segmented based on product type, procedure type, and end-user. Based on product type, the market can be further segmented into facial aesthetics, body contouring devices, and skin tightening devices. Facial aesthetics dominate this segment as facial procedures are the most popular among consumers seeking aesthetic treatments. Facial aesthetic products include dermal fillers, botulinum toxin, and chemical peels. These products are used for various facial rejuvenation treatments such as reducing wrinkles, improving skin texture and volume, and enhancing facial features. Facial aesthetics are expected to continue dominating the market due to increased awareness, availability of advanced products, and growing demand for non-invasive procedures.

Key Takeaways:

The global Aesthetic Medicine Market Trend is projected to witness high growth, exhibiting a CAGR of 14.5% over the forecast period (2023-2030). This growth can be attributed to several factors, including the increasing focus on physical appearance, advancements in aesthetic treatments and technologies, and rising disposable income in developing countries. Additionally, the growing aging population and the influence of social media on beauty standards are driving the demand for aesthetic medicine globally.

In terms of regional analysis, North America is currently the fastest-growing and dominating region in the aesthetic medicine market. This can be attributed to the high adoption of aesthetic procedures, the presence of key market players, and the availability of advanced aesthetic technologies in the region. Moreover, increasing awareness about aesthetic treatments and the demand for non-invasive procedures are contributing to the market growth in North America.

Key players operating in the aesthetic medicine market include Alma Laser, Hologic, Inc. (Cynosure), Abbvie (Allergan), Solta Medical, Candela Medical, Merz Pharma GMBH, Revance Therapeutics Inc., Lumenis, Galderma Pharmaceuticals S.A., and Johnson & Johnson Services, Inc., among others. These key players have a strong market presence and offer a wide range of aesthetic medicine products and services. They focus on technological advancements, strategic collaborations, and mergers and acquisitions to maintain their market position and expand their customer base.