Medical Aesthetics Market Size and Share Analysis by Product Type (Injectables, Topicals, Energy-Based Devices, Breast Implants), End User (Beauty Clinics, Spas and Salons, Hospitals) - Global Industry Revenue Estimation and Demand Forecast to 2030

Market Overview

The global medical aesthetics market size stood at $11,892.0 million in 2021, and it is expected to advance at a compound annual growth rate of 12.4% during 2021–2030, to reach $34,124.0 million by 2030. The growth can be primarily ascribed to the rising development of technologically advanced and user-friendly products and the increasing demand for aesthetic treatments among individuals.

Moreover, the popularity of minimally invasive and non-invasive aesthetic procedures is growing globally because of loose facial skin, especially around the eyes, jowls, and cheeks; and dry or roughened skin; among others, which are some of the significant changes that usually appear when a person ages. Additionally, the demand for aesthetic devices is increasing, due to the surging adoption of cosmetic procedures among people, to improve their appearance and look different from others.

Furthermore, rising efforts by key players to develop and launch new and innovative ranges of products, to cater to the target population, are likely to drive the market. In addition, the rising burden of breast cancer, trauma injuries, and obesity, among others; the presence of key manufacturers; and developing healthcare systems are some of the other factors contributing to the market growth.

North America Holds Largest Market Share

North America has the leading position in the medical aesthetics market, and it will hold the same position in the coming years, with a value of around $15 billion in 2030. This is because it is considered the key region for innovation in cosmetic procedures since a majority of established and upcoming key players are either headquartered or have a significant geographical presence in the region. This is also because of the surging spending on aesthetic plastic surgeries and the increasing number of surgical and non-surgical procedures in the region.

For instance, people in the region spent $8.7 billion alone on aesthetic plastic surgeries during the first half of 2021 and consumer patterns suggest that they do not hesitate in undergoing expensive aesthetic products and treatments. Additionally, according to the American Academy of Facial Plastic and Reconstructive Surgery, almost 1.4 million surgical and non-surgical procedures were performed in 2021. The region also remains the significant leader in various medical procedures, such as implantation, body contouring, and liposuction, addressing the needs of the growing population of obese people, due to poor eating habits and lifestyles.

Furthermore, the rising investments in the healthcare industry, the governments’ favorable regulations for inviting foreign investments, and the increasing research and product development through advanced technologies are aiding the growth of the regional market.

In North America, the U.S. market holds the leading position, and it will grow at a CAGR of over 10% during the forecast period. This is due to the advanced healthcare system, technological advancements, and strong financial support from the government. Moreover, the increasing geriatric population, peer pressure to look younger, and the rising obese or overweight population are driving the growth of the market in the country.

On the other hand, the APAC market is expected to witness significant growth in the coming years, as regional countries are experiencing a significant increase in the use of cosmetic treatments, driven by factors such as expanding middle-class population with rising disposable income, the surging awareness about skin treatments, the growing aging population, the decreasing social stigma and taboo attached with these treatments, and the increasing number of medical tourists in the region opting for cosmetic procedures.

Injectables Account for the Largest Product Share

The injectables category held the largest revenue share, around 40%, in 2021, owing to the rising sales of injectables, such as botulinum toxin, neurotoxin, and dermal fillers. Additionally, the injectables are in high demand due to various factors such as minimal scarring, short procedure time, minimally invasive, instant result, and cost-effectiveness of the products.

Moreover, the sales of topicals, such as gels and creams, account for the second-largest market share. This is attributed to their ability to treat several skin conditions without any usage of uncomfortable procedures and their ease of application. However, during the forecast period, the energy-based aesthetic category is projected to grow at the highest rate, due to the rising adoption of radio frequency and laser devices in aesthetics.

Beauty Clinics Are the Largest Revenue Contributor

The beauty clinics category held the largest revenue share, around 50%, in 2021, due to the increasing disposable income of several countries, along with the increasing number of beauty clinics and centers across the globe. These centers offer numerous aesthetic treatments, such as scar removal, wrinkle treatment, and body enhancement and augmentation. These increase the usage of different products especially neurotoxin and dermal fillers in beauty clinics and centers.

Moreover, the rising awareness of aesthetic procedures, the increasing number of clinics and surgeons offering this treatment, the emergence of advanced products, the surging comfort level among patients, and the growing patient preference for minimally invasive cosmetic procedures are also driving the market in this category.

In addition, the spas and salons category hold the second-largest market share, due to the rising demand for energy-based aesthetic devices in these facilities for epidermal skin and hair treatment. However, the spas and salons are no longer restricted to non-prescribed beauty treatments, they offer specific aesthetic treatments and procedures, including injectables.

Growing Awareness Among Consumers Drives the Demand

The growing consumer awareness about the presence of technologically advanced medical aesthetic products and treatments leads to the increasing demand for these procedures across the globe. Also, in recent years, many celebrities have openly revealed their use of facial cosmetic treatments, leading to a rise in awareness about these treatments, and at the same time making these treatments acceptable to society.

There are many other factors, such as a desire to look younger and increasing acceptance of cosmetic procedures, that are driving a large section of the male population to undergo such treatments. Also, there has been a considerable increase in awareness about aesthetic procedures and devices among the male population. Thus, the overall rise in awareness about already marketed and newly launched aesthetic devices is a major driver to boost the demand for these products.

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Health Benefits of Medical Aesthetic Procedures Boosting the Demand

Medical aesthetic treatments provide much more than just enhancing the physical appearance of patients. Some of these treatments offer a sense of enhanced self-esteem, leading to improved psychological conditions for the patients. Treatments like Botox can help deal with severe migraine and sweating. When Botox is injected into the armpits of the patients, it immediately paralyzes the sweat glands, resulting in lesser sweat being released. Medical aesthetic treatments are also used to erase fine lines and wrinkles, lift sagging skin, remove unwanted fat, and rejuvenate skin.

Similarly, dermal fillers are majorly used for filling wrinkles lines on the patient’s face with a solution made of hyaluronic acid, but the same fillers can be used to smoothen and repair the skin that has been damaged by accidental scars or wounds. Thus, various benefits of cosmetic procedures are driving consumers to use these products not just fulfilling their aesthetic needs but also to deal with various health issues. Also, these treatments have various advantages such as beauty enhancement, moles and warts removal, skin soothing, and many more.

Key Players in the Medical Aesthetics Market Are:

• AbbVie Inc.
• Galderma
• Merz Pharma GmbH & Co. KGaA
• El.En Group
• Cutera Inc.
• Venus Concept
• Lutronic Inc.
• Lumenis Be Ltd.
• Bausch Health Companies Inc.
• Candela Corporation

Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Product Type

• Injectables
  • Neurotoxins
  • Dermal fillers
• Topicals
  • Creams
  • Gels
• Energy-Based Devices
  • Laser
  • Radiofrequency
  • Ultrasound
• Breast Implants
  • Silicone
  • Saline

Based on End user

• Beauty Clinics
• Spas and Salons
• Hospitals

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E