Aesthetic Medicine Market Size, Share & Trends Report

Aesthetic Medicine Market Size, Share & Trends Analysis Report By Product (Energy-based Devices, Anti-wrinkle Products, By End Use (Clinics & Beauty Centers, Home Use), By Region, And Segment Forecasts, 2019 - 2026

  • Published Date: Jun, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-733-9
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 130

Industry Insights

The global aesthetic medicine market size was valued at USD 8.5 billion in 2018 and is projected to expand further at a CAGR of 8.8% from 2019 to 2026. Introduction of technically advanced products enabling minimally invasive surgeries is identified as the most influential growth driver. Moreover, rise in disposable income has boosted the demand for cosmetic surgeries, thereby accelerating market growth.

On the other hand, adverse effects associated with these aesthetic procedures continue to negatively impact the consumer preference index. Moreover, stringent regulatory framework, to ensure product safety and efficacy, and high costs of the overall treatment may limit the growth. In addition, surgical and minimally invasive procedures require skilled professionals.

Global aesthetic medicine market

Thus, lack of experts in the field may also have a negative impact on the market development. However, rising number of working individuals, especially in the emerging markets of Asia Pacific like India and China, is likely to support market development over the forecast period.

Thus, with improving employment, the demand for aesthetic medicines is going to increase during the forecast period. Moreover, rising geriatric population is also expected to boost the product demand, thereby propelling market growth. Geriatric population is highly prone to wrinkles, lack of skin elasticity, dark spots, and other skin problems, which can be treated with aesthetic medicines.

Product Insights

Based on products, the market is segmented into energy-based devices, implants, and anti-wrinkle products. Anti-wrinkle products accounted for the largest market share of more than 45% in 2018 owing to their affordable costs and high consumer awareness levels regarding product availability. The segment is projected to expand further the highest CAGR form 2019 to 2026 owing to easy availability and instant and persistent results of these products.

The energy-based devices segment is further categorized into aesthetic laser, body contouring, microdermabrasion, and ultrasound devices. Among these, aesthetic laser accounted for the largest market share in 2018. High cost of these products coupled with wide application areas including laser resurfacing, hair removal, and others resulted in it being the largest revenue-generating segment in the past. On the other hand, microdermabrasion segment is expected to witness comparatively slower growth owing to risk of skin bruising or permanent discoloration.

End Use Insights

Clinics and beauty centers segment led the overall market, in terms of revenue, in 2018 and is projected to expand further at a healthy CAGR from 2019 to 2026. High costs of professional devices, stringent regulatory guidelines for their usage, and requirement of skilled professionals are some factors attributing to the segment’s growth.

Most commonly, invasive procedures are performed in clinics and beauty centers. Costs of surgical procedures are higher than non-surgical procedures as it includes hospital stay (in some cases), skilled professionals, and costly tools. According to the international survey on cosmetics by the International Society of Aesthetic Plastic Surgery (ISAPS), 10,766,848 surgical and 12,623,694 non-surgical procedures were performed globally in 2017.

On account of a large number of surgical procedures being performed in professional clinics, the demand for aesthetic medicine is the largest in this segment. Moreover, products used in clinics are costlier than the ones used in home settings. As a result, clinics and beauty centers segment is expected to show significant growth during the forecast period.

Regional Insights

Asia Pacific accounted for the largest market share of over 35% in 2018. It is projected to maintain its dominance throughout the forecast years owing to rising number of surgical procedures being performed each year. Moreover, cheaper treatment costs and availability of advanced techniques and skilled professionals in the region are attracting customers.

Global aesthetic medicine market share

Moreover, rising population, especially in China and India, along with rising disposable income and number of working individuals in the region is generating demand for aesthetic procedures. As a result, Asia Pacific is expected to witness the maximum CAGR of 11.5% from 2019 to 2026.

Aesthetic Medicine Market Share Insights

The global market is highly fragmented with many regional companies competing with international manufacturers. However, strict regulatory approval process is challenging the entry of new products into the market. Some of the key companies in the market include Allergan, Inc.; Alma Laser; Cynosure; Galderma S.A.; Lumenis; Johnson and Johnson; Solta Medical, Inc.; and Syneron Medical Ltd.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2026

Market representation

Revenue in USD Million and CAGR from 2019 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Country scope

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

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2026. For the purpose of this study, Grand View Research has segmented the global aesthetic medicine market report on the basis of product, end use, and region:

  • Product Outlook (Revenue, 2015 - 2026 (USD Billion))

    • Energy-based Devices

      • Aesthetic Laser Devices

      • Body Contouring Devices

      • Microdermabrasion Devices

      • Ultrasound Devices

    • Implants

    • Anti-wrinkle Products

      • Botulinum Toxin

      • Dermal Fillers

      • Chemical Peel

  • End Use Outlook (Revenue, 2015 - 2026 (USD Billion))

    • Clinics and Beauty Centers

    • Home Use

  • Regional Outlook (Revenue, 2015 - 2026 (USD Billion))

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

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