Aesthetic Medicine Market Size, Share & Trends Report

Aesthetic Medicine Market Size, Share & Trends Analysis Report By Procedure Type (Invasive Procedures, Non-invasive Procedures), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2021 - 2028

  • Published Date: Dec, 2020
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-733-9
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 130

Report Overview

The global aesthetic medicine market size was valued at USD 86.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2021 to 2028. Manufacturers coming up with innovative aesthetic devices have led to an increased demand for aesthetic treatments in recent years. For instance, introduction of technologically advanced products, such as non-invasive body contouring systems which uses fat freezing technology is expected to create lucrative opportunities in coming years. According to the Aesthetic Society (U.S.), non-invasive body fat reduction was among the top 5 non-invasive procedures in the U.S. in 2019 with 129,686 procedures being carried out.

India aesthetic medicine market size, by procedure type, 2016 - 2028 (USD Million) 

The COVID-19 pandemic had significantly affected the market for aesthetic medicine. Initially, social distancing and sudden sharp cut in consumers income level had negatively impacted the market. The market had witnessed a phase of short-term negative growth owing to factors such as decline in product demand, limited operations, temporary closures of beauty centers and disruption in the manufacturing and supply chain. However, remote working has increased the time spent on Zoom calls. Adults are paying attention on their physical appearance closely. This has increased demand for cosmetic surgeries, with Botox being one of the most popular procedures preferred. Patients are also opting for cosmetic surgeries owing to ease of recovery at while staying at home. Thus, the market for aesthetic medicine has witnessed a spike during lockdown.

Growing urge to look young and fit has increased demand for aesthetic treatment in the developing countries. Aesthetic procedures such as liposuction, nose reshaping, and Botox injections are gaining consumer interest in countries such as India and South Korea.

According to the International Society of Aesthetic Plastic Surgery (ISAPS), India was ranked among the top 5 countries performing non-surgical procedures at a global level. This highlights the high growth prospects that lie ahead for aesthetic medicine manufacturers in the country.

Procedure Type Insights

The non-invasive procedures segment dominated the market for aesthetic medicine and accounted for the largest revenue share of 52.5% in 2020. The segment is expected to witness the fastest CAGR over the forecast period. Less pain, instant results, and low cost are some of the factors that have boosted demand for non-invasive procedures at a global level. Popular non-invasive procedures include Botox injections, soft tissue fillers, and chemical peel.

In June 2020, Allergan Aesthetics, a subsidiary of AbbVie Inc. (U.S.), received FDA approval of JUVÉDERM® VOLUMA™ XC for the augmentation of the chin region in adults over the age of 21. Apart from this, in 2019, FDA approved, Jeuveau, which is similar toBotox, however, available at a lower cost compared to Botox. The product is found to be effective in reducing wrinkles.

Invasive procedures such as liposuction, breast augmentation, nose reshaping, are some of the popular aesthetic procedures. Growing focus towards physical appearance has increased demand for these invasive procedures.

Regional Insights

In 2020, North America accounted for the largest share of 36.0% in the market for aesthetic medicine. Advanced healthcare infrastructure, adoption of cosmetic procedures, increasing prevalence of skin disorders, and the presence of board certified and skilled cosmetic surgeons in the region are some of the major factors contributing to the growth of the aesthetic medicine market in this region.

Global aesthetic medicine market share, by region, 2020 (%)

According to the American Society of Plastic Surgeons (ASPS), the growth in rates of cosmetic surgery procedures from the year 2000 to 2018 was compared. It was observed that breast augmentation procedures increased by 48%, while the use of Botox injections increased by 845%. Thus, North America is expected to be a key revenue generator for aesthetic medicine manufacturers in the coming years.

In Asia Pacific, the market for aesthetic medicine is projected to witness the highest CAGR of 10.9% during the forecast period. The region is backed by countries such as China, India, and South Korea. Availability of technologically advanced products, growing focus towards physical appearance, and South Korea considered as the hub of cosmetic surgeries are some of the key factors to drive the market in the region.

Key Companies & Market Share Insights

The market is highly fragmented with many local players competing with international players. However, strict regulatory approval process is challenging the entry of new products into the market. Primary parameters affecting the competitive nature are rapid adoption of advanced devices for improved treatment, and technological advancement. Leading players have adopted mergers and acquisitions as one of the key strategies to retain market share.

Recently, in 2019, one of the key players, Allergan, had launched a TV ad campaign for its brand, Botox Cosmetics for millennials. According to the American Academy of Facial Plastic and Reconstructive Surgery, in the past five years, Botox injections have increased by 22.0% among 22- to 37-year-olds, focusing on which the product is being launched by the company. Some of the prominent players in the aesthetic medicine market include:

  • Allergan

  • Hologic (cynosure)

  • Johnson & Johnson

  • Galderma

  • Lumenis

  • Solta Medical

  • Syneron Candela

  • Alma Laser 

Aesthetic Medicine Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 64.6 billion

Revenue forecast in 2028

USD 124.7 billion

Growth Rate

CAGR of 9.8% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Allergan; Hologic (cynosure); Johnson & Johnson; Galderma; Lumenis; Solta Medical; Syneron Candela; Alma Laser

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

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Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global aesthetic medicine market report on the basis of procedure type and region:

  • Procedure Type Outlook (Revenue, USD Million, 2016 - 2028)

    • Invasive Procedures

      • Breast augmentation

      • Liposuction

      • Nose reshaping

      • Eyelid Surgery

      • Tummy tuck

      • Others

    • Non-invasive Procedures

      • Botox injections

      • Soft tissue fillers

      • Chemical peel

      • Laser hair removal

      • Microdermabrasion

      • Others

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • India

      • Japan

      • China

      • Australia

      • New Zealand

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

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