Global Medical Aesthetics Market - Focused Insights 2024-2029

MEDICAL AESTHETICS MARKET SIZE, GROWTH INSIGHTS

The global medical aesthetics market was valued at USD 21.03 billion in 2023 and is projected to reach USD 39.87 billion by 2029, experiencing a CAGR of 11.25% throughout the forecast period. The growth of this market is mainly fueled by an increasing patient population, a rise in surgical procedures, rapid advancements in healthcare technology, and a growing number of hospitals and beauty centers. Medical aesthetics emphasizes non-surgical methods to improve cosmetic appearance, conducted by trained professionals. These minimally invasive techniques encompass chemical peels, hair removal, skin-lightening treatments, anti-aging injections, dermal fillers, and laser procedures. They tend to be more cost-effective than plastic surgery while delivering immediate results.

MARKET TRENDS & DRIVERS

Growing Demand for Neurotoxins

The global uptake of neurotoxins, especially Botulinum toxin (commonly known as Botox), has significantly increased, reshaping the medical aesthetics sector. This growth is fueled by a rising interest in non-surgical, minimally invasive cosmetic treatments that deliver effective outcomes rapidly with little recovery time. Neurotoxins are primarily utilized to minimize the appearance of fine lines and wrinkles by temporarily immobilizing the underlying muscles, resulting in smoother and more youthful skin. The acceptance of these procedures has expanded beyond conventional cosmetic use to include therapeutic purposes, enhancing their market appeal and growth. A key factor driving the increase in neurotoxin use is the heightened awareness and acceptance of aesthetic treatments.

Increasing Consumer Base for aesthetics

The rising consumer interest in aesthetics reflects the increasing demand for cosmetic treatments across various demographics. This growth can be attributed to several factors, such as greater societal acceptance, advancements in technology, improved accessibility, and evolving cultural views on beauty and self-care. A key driver for this expanding consumer interest is the widespread societal acceptance of aesthetic procedures. Once viewed as exclusive to the affluent or a taboo topic, cosmetic enhancements have entered the mainstream. Influencers, celebrities, and social media platforms have been pivotal in making these procedures more normalized by openly sharing their experiences and results. This increased visibility has diminished the stigma surrounding aesthetic treatments, prompting more individuals to contemplate and pursue such procedures. Moreover, technological advancements in medical aesthetics have significantly fueled the surge in consumer interest. Innovations in non-invasive and minimally invasive procedures, like laser treatments, injectables, and body contouring techniques, provide effective outcomes with minimal recovery time and lower risks compared with traditional surgical options.

GLOBAL MEDICAL AESTHETICS MARKET INSIGHTS

• Insight by product: The global medical aesthetics market is divided by product type into injectables, energy-based devices, cosmetic implants, and cosmeceuticals/skin care. The injectables category holds the largest market share due to increasing acceptance among various demographics. The growth in injectable procedures reflects wider trends in the cosmetic sector, where non-invasive treatments are becoming more popular owing to their convenience, minimal recovery time, and effective outcomes. More consumers are choosing injectables as a preventative approach to aging or to enhance facial features without resorting to surgical options. This trend is reinforced by ongoing developments in injectable technologies and formulations that cater to a range of aesthetic aspirations and preferences.
• Insight By Procedure: The global medical aesthetics market is classified by procedure type into non-invasive and minimally invasive categories. The non-invasive segment is experiencing substantial growth, exhibiting the fastest CAGR during the projected period. Rising awareness and accessibility of non-invasive aesthetic treatments are propelling their global acceptance and popularity. These procedures, which present numerous advantages in terms of safety and effectiveness, have become the favored option for many individuals seeking cosmetic enhancements without surgical intervention. Non-invasive treatments do not necessitate incisions, making them less perilous and more appealing to a wider audience. A variety of prominent non-invasive medical aesthetic procedures have gained traction around the world, including botulinum toxin injections, dermal fillers, spider vein treatments, and chemical peels. Advances in these procedures have significantly led to their widespread acceptance.
• Insight By Gender: In terms of gender classification, the female holds the largest global medical aesthetics market share. This dominance is due to the increasing acceptance of cosmetic enhancements as an integral part of contemporary beauty and wellness practices. In 2022, the arena of cosmetic procedures for women displayed strong demand for both surgical and non-surgical enhancements, mirroring prevailing trends and consumer preferences within aesthetic medicine. Surgical procedures such as cosmetic surgeries, breast augmentations, liposuction, and blepharoplasty accounted for a considerable share of total surgeries conducted on women.
• Insight By Application: The global market for medical aesthetics is divided by application type into categories such as skin rejuvenation, body contouring and skin tightening, breast augmentation, hair removal, and others. The segment for skin rejuvenation captures the largest share of the market. Facial aesthetic treatments represent a key segment within the global cosmetic surgery industry, spurred by an increasing desire for facial rejuvenation, enhancement, and the correction of aesthetic issues. These treatments include both surgical and non-surgical options aimed at improving facial symmetry, contour, and overall look. The growth in this sector is bolstered by shifting consumer preferences, advancements in technology, and a rising awareness and acceptance of aesthetic procedures across the globe. As these treatments become more available and customized to meet individual preferences, the market is projected to grow further, serving a wide range of global consumers looking to improve their facial aesthetics.
• Insight By End-User: The homecare sector is witnessing significant growth by end-user category, exhibiting the highest CAGR throughout the forecast period. Medical aesthetic procedures are now accessible for in-home care, including anti-wrinkle therapies and micro-needling, which are procedures that can be performed at home. Various dermal fillers, such as lip, cheek, chin, jawline fillers, non-invasive nose reshaping, signature facelifts, hand fillers, and fillers for nasolabial folds, are also utilized for aesthetic purposes in homecare environments. The market for homecare aesthetic devices is seeing considerable growth, primarily due to the product’s availability through online platforms, which has notably increased their use. The legal administration of specific aesthetic services by medical professionals in home settings boosts their frequency of application. Micro-needling has become one of the most sought-after homecare treatments among women, enjoying popularity for being simple, cost-effective, efficient, and safe.
• Insight By Age Group: The age group of 34-50 years is displaying notable growth with the highest CAGR during the forecast period. For those aged 35 to 50, aesthetic procedures have become increasingly prevalent, mirroring a wider societal movement towards preserving a youthful look and enhancing self-esteem. The rising demand for aesthetic treatments in this age demographic is also driven by improving accessibility and the increasing normalization of these procedures. The impact of social media and the visibility of celebrities and influencers who candidly share their experiences with cosmetic enhancements have played a considerable role in diminishing the stigma associated with such treatments.

GEOGRAPHICAL ANALYSIS

APAC is expected to register the highest CAGR within the global medical aesthetics market over the forecast period. This growth is largely attributed to its large patient demographic and the growing number of elderly individuals pursuing cosmetic enhancements. Favorable demographic shifts and the increasing incidence of conditions that can be treated with aesthetic procedures are propelling market expansion. Enhanced availability of medical aesthetic services and their ongoing proliferation across the region are driving this upward trend. The rising expenditures on cosmetic procedures and the rapid acceptance of these treatments are significant factors as well. This growth is particularly evident among higher and middle-income groups, who are increasingly integrating aesthetic procedures into their lifestyle choices. The market's dynamic nature is highlighted by the varying degrees of access to aesthetic treatments across different countries in APAC. In developing markets like India and South Korea, the affordability of medical aesthetic treatments is leading to higher adoption rates.

COMPETITIVE LANDSCAPE

The market is marked by intense competition and is highly dynamic, featuring a mix of global, regional, and local vendors. These suppliers provide a range of medical aesthetic procedure products, devices, and treatments to end-users. The competition is heightened by the presence of major international entities such as AbbVie, Bausch Health Companies, Candela, Cutera, Cynosure, El.En. S.p.A., Galderma, Johnson & Johnson, Lumenis, Merz Pharma, Sientra, Sinclair, and Sisram Medical, which continually influence market dynamics through their innovative offerings and advanced technologies. Leading players in the market are consistently launching new aesthetic solutions with enhanced quality and technological advancements, contributing to the competitiveness of the market. These companies also pursue strategic business initiatives, including collaborations and mergers or acquisitions of smaller and mid-sized market players.