Aesthetic Medicine Market - Forecast(2024 - 2030)

Aesthetic Medicine Market Overview

The Aesthetic Medicine Market size is estimated to reach $1,201 million by 2027, growing at a CAGR of 4.3% during the forecast period 2022-2027. Aesthetic medicines also termed cosmetic treatments, are non-surgical procedures that are utilized to reduce the indications of aging and rejuvenate and freshen the skin. Medical aesthetics encompasses a wide range of products and medications designed to address specific customer demands and aesthetic needs, like fine lines and wrinkle reduction, fat reduction, stretch mark treatment, scar treatment, skin oxygenation and revival, body contouring and botulinum toxin treatment of the upper face and skin repair. Acceptance for aesthetic medicinal procedures has increased rapidly, owing to the accelerated outreach of surgeons, Healthcare Providers (HCPs), patients and other stakeholders by way of social media channels and other digital platforms. This has enhanced communication between HCPs and patients who are fearful about undergoing such treatments. The Aesthetic Medicine specialty is not confined to dermatologists and plastic surgeons owing to doctors of all specialties seeking to offer services to address their patient's aesthetic requirements and wants. Some Aesthetic Medicine procedures are performed under local anesthesia while some procedures do not need anesthetics’ at all. Liver spots materialize in areas where melanin has collected or clumped. Melanin is the substance that provides skin pigment. When ultraviolet (UV) light strikes the skin, it accelerates melanin generation. Over time, this process may result in sun spots. Liver spots may also be developed subsequent to medical treatments like radiation therapy. Liposuction has long been one of the most popular treatment modalities in aesthetic surgery. Most typically carried out on the hips, thighs, buttocks, abdomen and arms, liposuction assists in eliminating rigid areas of fat that may have proved immune to diet and exercise. The (radiofrequency ablation) RF waves are used in different medical specialties, including aesthetics. Radiofrequency ablation applies an electric current to heat up a tiny area of nerve tissue to halt it from transmitting pain signals. The most typical condition treated by radiofrequency ablation is lower back facet joint pain where the medial branch nerves are situated. Carboxytherapy is a non-surgical technique utilized in aesthetic medicine. The technique includes the administration of gaseous carbon dioxide from a machine with small needles serving both subcutaneously and intradermally. A Brachioplasty is a surgery that reshapes the back portion of the upper arm, from the arm to the elbow. It’s also termed an arm lift. It eliminates excess skin and tissue. It makes the upper arm appear smoother. A typical Aesthetic Medicine Industry application involves aesthetic medicine and cosmetic surgery in areas of the head, neck and distinct areas of the body.

The surging count of manufacturers developing innovative aesthetic devices resulting in heightened demand for aesthetic treatments currently is set to drive the Aesthetic Medicine Market. The increasing count of cosmetic surgeries and aesthetic treatments like liposuction owing to soaring attention paid to physical appearance in the modern day of remote working with surging zoom calls amidst the Coronavirus (COVID-19) pandemic is set to propel the growth of the Aesthetic Medicine Industry during the forecast period 2022-2027. This represents the Aesthetic Medicine Industry Outlook. 

Aesthetic Medicine Market Report Coverage

The “Aesthetic Medicine Market Report - Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Aesthetic Medicine Market.

Key Takeaways

• Geographically, North America (Aesthetic Medicine market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the rapidly altering attitude of people towards beauty, wellness and aging resulting in surging awareness and adoption of aesthetic medications and procedures like liposuction as well as numerous principal businesses focusing on the U.S. Market by declaring premium on product innovation collaborations having a principal impact on the market size in the North American region.
• Aesthetic Medicine Market growth is being to the expanding inclination of people to look youthful resulting in a boost in demand for aesthetic treatments in developing countries and the surging demand for aesthetic procedures like liposuction, nose reshaping and Botox injections across the world. However, the soaring cost of aesthetic treatment, reduced reimbursements and hazard of malfunctions connected with implants are some of the major factors hampering the growth of the Aesthetic Medicine Industry.
• Aesthetic Medicine Market Detailed Analysis of the Strength, Weaknesses and Opportunities of the prominent players operating in the market will be provided in the Aesthetic Medicine Market report.

Aesthetic Medicine Market Segment Analysis - By Product

The Aesthetic Medicine Market based on products can be further segmented into Energy-Based Devices, Implants and Anti-Wrinkle Products. The Anti-Wrinkle Products Segment held the largest Aesthetic Medicine market share in 2021. This growth is owing to the surging application of anti-wrinkle products for the reduction of age spots, hyperpigmentation and fine wrinkles in people. Anti-wrinkle products also assist in the renewal of skin cells and the creation of collagen. Liver spots are typical among mature grown-ups aged more than 50. Anti-wrinkle products are greatly recognized among the geriatric and aging population who wish to keep their skin smooth. Also, there is a heightening body image consciousness among the young population. These factors considerably fuel the demand for body contouring and skin-tightening procedures. Along with awareness, supportive government initiatives and funding research in the field will stimulate market revenue. Radiofrequency ablation may include radio frequency skin tightening which is regarded as safe and effective. The effortless accessibility and minimum invasiveness of the anti-wrinkle products are further propelling the growth of the Anti-Wrinkle Products segment.

Furthermore, the Implants segment is estimated to grow with the fastest CAGR of 4.5% during the forecast period 2022-2027 owing to the rise in patient demand for facial aesthetic medical treatments and the spending power and an increase in the use of breast implants in patients who have had mastectomy surgeries. Liposuction can be applied to demonstrate and spotlight the outcomes of breast implants. A plastic surgeon may opt to eliminate or alleviate liver spots by way of cryotherapy. Implantation is frequently done for cosmetic reasons as well as to correct the abnormal shape of the organ. The goal of aesthetic medicine to apply minimally invasive or non-invasive techniques to enhance the physical appearance and happiness of a patient is further fuelling the growth of this segment.

Aesthetic Medicine Market Segment Analysis - By Application

The Aesthetic Medicine Market based on the application can be further segmented into Surgical and Non-Surgical. The Non-Surgical Segment held the largest Aesthetic Medicine market share in 2021. This growth is owing to the Non-surgical techniques Non-surgical methods include facial injectables and cryolipolysis among others. Areas of concern like frown lines, horizontal forehead lines, glabellar lines and Crow’s feet can all be handled by an aesthetic non-surgical procedure termed Botulinum toxin injection. Certain typical non-surgical cosmetic procedures include neurotoxin injections and dermal fillers. Through light invasion, such operations help to repair facial lines, decrease wrinkles, diminish cellulite and eliminate unwanted fat in a short amount of time. Obese patients are increasingly opting for non-surgical fat removal techniques owing to the more reduced pain connected with these procedures when compared to surgical techniques. According to the World Health Organization (WHO), 39 million children aged under 5 were overweight or obese in 2020. The increasing predominance of obesity coupled with the relative ease of conducting non-surgical aesthetic techniques is boosting the demand of the Aesthetic Medicine Market. Carboxytherapy did not have its origins as an aesthetic treatment, but as a treatment for vascular ailments, hypertension and heart ailments. To combat the indications of age, the elderly population is increasingly turning to non-surgical aesthetic medications to decrease wrinkles and lax skin, which is further propelling the growth of this segment.

Furthermore, the Surgical segment is estimated to grow with the fastest CAGR of 4.9% during the forecast period 2022-2027 owing to an increase in the demand for facial treatments such as eyelid surgery, nose surgery, neck lifts, facelifts, lip enhancement and other procedures like liposuction and Brachioplasty around the world. According to the American Academy of Facial Plastic and Reconstructive Surgery, Inc. (AAFPRS) 2021, almost 83 percent of AAFPRS surgeons reported a 70% increase in bookings in 2021 compared to 2020. The surging count of cases pertaining to facial plastic surgery is further fuelling the growth of this segment.

Aesthetic Medicine Market Segment Analysis - By Geography

The Aesthetic Medicine Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America (Aesthetic Medicine Market) held the largest Aesthetic Medicine market share with 47% of the overall market in 2021. This growth is owing to the existence of progressive healthcare infrastructure and the soaring adoption of aesthetic treatments like liposuction and Brachioplasty in the North American region. As per the American Society of Plastic Surgeons, there were 15.6 million cosmetic procedures and 6.8 million reconstructive procedures in 2020. Market leaders in the U.S have tremendous growth potential as a result of increased awareness and application of breakthrough technologies. The rising obesity rate owing to the soaring adoption of a sedentary lifestyle is propelling the growth of the Aesthetic Medicine Industry in the North American region. The increasing prevalence of skin conditions like liver spots and the existence of board-certified and skilled cosmetic surgeons in the region is further driving the growth of the Aesthetic Medicine Market in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the existence of countries like India, South Korea and China in the Asia-Pacific region. The surging accessibility of technologically progressive products including liposuction devices, heightening attention on the physical countenance, the rising applications of radio frequency ablation technology, the existence of carboxytherapy clinics and the presence of South Korea which is the center for cosmetic surgeries are further fuelling the growth of the Aesthetic Medicine Industry thereby contributing to the Aesthetic Medicine Industry Outlook, in the Asia-Pacific region.

Aesthetic Medicine Market Drivers

The Growing Application of Aesthetic Medicinal Procedures for the Removal of Stretch Marks and Treatment of Burns is Propelling the Growth of the Aesthetic Medicine Market:

Aesthetic medical procedures involve enhancing patients' phenotypical traits to meet their specific requirements. Scars, wrinkles, moles, liver spots, excess fat, skin discoloration, skin laxity, cellulite, spider veins and undesirable hair are all becoming more common leading to the availability of a wide range of services. These treatments are used by people who want to change or improve aspects of their bodies in order to improve their quality of life. Women who have given birth have stretch marks in their lower abdomen from pregnancy, as well as a postpartum tummy, that takes months to years to return to its previous shape. Stretch marks affect almost 8 out of every 10 pregnant women, according to National Health Service. These women use aesthetic medical procedures to speed up their healing and get rid of their stomach scars. Aesthetic medicine makes use of carbon dioxide (CO2) for the removal of stretch marks. Carboxytherapy treats both new and old stretch marks. As per the American Burn Association, every year there are 1.1 million burn injuries in the U.S., which need treatment. Nearly 45,000 of these injuries need hospitalization and nearly 4,500 of these victims lose their lives. Numerous of these injuries are brought about by the "negligent, reckless or intentional conduct of another party". Reconstructive burn surgery is a plastic surgery procedure subsequent to the initial burn wounds having been healed. Skin grafts are typically applied to burn patients. The growing application of aesthetic medicinal procedures for the removal of stretch marks and treatment of burns is therefore propelling the growth of the Aesthetic Medicine Market during the forecast period 2022-2027.

The Rising Adoption of Minimally Invasive and Non-Invasive Aesthetic Procedures is Fuelling the Growth of the Aesthetic Medicine Industry:

Minimally invasive/nonsurgical techniques have a number of advantages over typical surgical procedures, including less pain, scars and recovery time. In addition, these techniques are less expensive than standard surgical procedures. Breast cancer patients, as well as undiagnosed women who are taking preventive measures, undergo a mastectomy to lower their cancer risk. As per breastcancernow.org, just over 80% of people diagnosed with breast cancer in the U.K. undergo surgery and among women enduring a mastectomy for breast cancer in the U.K. about 21% have immediate breast reconstruction. While mastectomy lessens the prevalence of the ailment, it permanently alters the physical orientation of the patient. In such cases, individuals undertake surgical treatments to implant prosthetic breasts and reclaim their former figure. Conducted by the International Society of Aesthetic Plastic Surgery, the survey grades India as four in the list of top five nations in the world in the number of people going for surgical and non-surgical procedures to improve their features. An arm lift, or Brachioplasty, is a surgical technique that decreases surplus sagging skin that hangs downward, Tightens and smoothes the underlying backing tissue that defines the form of the upper arm, It also decreases localized pockets of fat in the upper arm region. The average arm lift cost changes between $1,900 to $2,800 in Turkey. The rising adoption of minimally invasive and non-invasive aesthetic procedures is therefore fuelling the growth of the Aesthetic Medicine Industry during the forecast period 2022-2027.

Aesthetic Medicine Market Challenges

The Side Effects, Allergic Reactions to Aesthetic Medicine and Limitations of Aesthetic Treatments are Hampering the Growth of the Aesthetic Medicine Market:

Patients can have a variety of minor to severe side effects as a result of aesthetic medicine operations. People who have botulinum toxin injections for facelifts can have pain, edema and bruising at the injection site, as well as droopy eyelids, during or after the treatment. Furthermore, the prohibitive costs connected with such therapies are projected to limit their use among the middle class. This is a prominent element that is predicted to limit the market's revenue growth significantly. Anti-wrinkle formulation hyaluronic acid has been linked to anaphylactic responses in certain people. If not adequately filtered, acid produced from natural sources has protein impurities, which can cause a variety of allergies, which is another reason projected to limit market revenue development. The anesthetic utilized in liposuction is usually lidocaine. A tiny count of people (fewer than 1%) risks undergoing an allergic reaction to lidocaine. There is also a tiny risk of enduring a non-allergic toxic reaction. If a patient does have a dangerous reaction to lidocaine, they are provided medications to counteract the toxic results. Considering carboxytherapy, nearly all people require 7 to 10 sessions and every session costs nearly $75 to $200. Complexities that can happen after brachioplasty involve tiny wound separations, dehiscence, seroma, lymphocele/lymphedema, inability to close the arm, bad scarring, infection, bleeding, nerve compression/compartment syndrome, neuromas and sensory loss These issues are restraining the growth of the Aesthetic Medicine Market.

Aesthetic Medicine Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Aesthetic Medicine Market. The top 10 companies in the Aesthetic Medicine market are: 

1. Merz Aesthetic
2.  Dermaceutic Laboratoire
   
3. Revance Galderma
4. Abbvie Inc.
5. Cynosure
6. Johnson & Johnson Private Limited
7. Lumenis
8. Syneron Candela
9. Solta Medical
10. Alma Lasers

• In March 2022, Galderma planned to introduce a series of novel scientific data on its portfolio on their hyaluronic acid dermal filler range, their earliest liquid neuromodulator and their original collagen biostimulator at the Aesthetic & Anti-Aging Medicine World Congress (AMWC) happening in Monaco and virtually from 31 March to 2 April 2022. Dr Philippe Kestemont planned to demonstrate an overview of clinical data for Alluzience®, Galderma’s currently approved and Europe’s earliest ready-to-use liquid neuromodulator for the treatment of moderate to serious glabellar (frown) lines. Pooled data from two Phase III investigations (NCT02353871 and NCT02493946) demonstrate that Alluzience® successfully enhanced glabellar lines regardless of severity with accelerated onset and outcomes lasting up to 6 months.     
• In September 2020, Merz Aesthetics declared Oscar- and Emmy-winning actress, author, and entrepreneur Gwyneth Paltrow as its novel global brand ambassador. Both share the principles that women need to be inspired to take time for self-care and make own decisions regarding how they wish to look and feel their best. Merz Consumer Care has evolved significantly over the past eight years.

• In September 2020, Allergan Aesthetics, an AbbVie company and Skinbetter Science® declared the introduction of a novel long-term, educational initiative – DREAM: Driving Racial Equity in Aesthetic Medicine™. The DREAM Initiative™ is dedicated to advancing the principles of racial and ethnic diversity, inclusion, respect and comprehending in the areas of dermatology and plastic surgery. Case studies and data appropriate for darker skin tones are grossly under-depicted in contemporary educational materials and textbooks which can result in under or misdiagnoses for black and brown patients. 

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