The Medical Aesthetics Market size is estimated to reach $18.3 billion by 2027. Furthermore, it is poised to grow at a CAGR of 9.2% over the forecast period of 2022-2027. The market focuses on procedures and techniques which help in improving and enhancing the aspects of skin-face and other bodily appearances. The facial aesthetics cover the treatment of scars-moles-spots and even skin discoloration by the use of non-invasive plastic surgery. Furthermore, various reconstructive surgery faced heat owing to the pandemic in the years 2020 and 2021, however, around 5.1 million tumor removal were performed, using methods such as radio frequency ablation, and around 386,710 laceration repairs. Additionally, around 23% growth was observed in maxillofacial surgery in 2020, a very few procedures that were resilient to the pandemic. Dermatology as a medical field has been growing at a rapid pace owing to the increasing social media presence coupled with the growing inclination for people to feel and look good. Additionally, a major proportion of surgeries took place, and the technique of radio frequency skin tightening was used, which allows the skin to loosen by stimulating the production of collagen.
Competitive Landscape :
The top 5 players in the Medical Aesthetics Industry are –
1. Allergan-AbbVie
2. Alma Lasers, Ltd.
3. Anika Therapeutics
4. Cutera, Inc.
5. Cynosure
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Segmental Analysis :
1. The medical aesthetics market based on product/ service can be further segmented into Facial Aesthetic Products, Cosmetic Implants, Body Contouring Devices, Hair Removal Devices, Skin Aesthetics Devices, Thread Lift Products, Nail Treatment, Mesotherapy, Tattoo removal, and Others.
2. The medical aesthetics market based on service providers can be further segmented into Beauty Centers, Clinical-Hospitals-Medical SPAs, Home Care, and Others. Beauty Centers held a dominant market share in the year 2021 and would continue to dominate in the projected period of 2022-2027.
3. The medical aesthetic market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 38% as compared to the other counterparts in 2021.
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Report Coverage |
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Report Attributes |
Details |
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By Product/Service
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Facial Aesthetic Products, Cosmetic Implants, Body Contouring Devices, Hair Removal Devices, Skin Aesthetics Devices
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By Service Provider
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Beauty Centers, Clinical-Hospitals-Medical SPAs, Home Care |
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By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World |
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Market Drivers and Challenges :
1. A growing inclination towards making one feel self-confident and socially acceptable has been a key driver for the market: Social stigma pertaining to looks still is prominent in societies around the globe. Hence, the market for aesthetics is majorly driven because of the said reason.
2. Service availability augmented by the presence of digital media has allowed the market to grow manifold: Digital media has been of ready aid to the market. The advertising agency finds just the right spot for those present, by not being overly pushy or nasty, but at the same time communicating the product/ service option availability.
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