Global Medical Aesthetics Market, 2023-2035 - Distribution by Type of Product and/or Device Offered, Type of Procedure, End User, Gender, Distribution Channel, and Key Geographical Regions: Industry Trends and Forecasts

Surge in Demand for Medical Aesthetics Propelled by Social Media, Celebrity Endorsements, and COVID-19's Impact

The global medical aesthetics market size is estimated to be $35 billion in 2023 and is anticipated to grow at a compounded annual growth rate (CAGR) of around 9.3% over the forecast period 2023-2035. In the recent years, the increased desire to achieve prolong youthfulness, influence of social media, technological advancements, celebrity endorsements and the hype bolstered by certain beauticians and medical professionals have led to a surge in the demand for medical aesthetic solutions. It is worth highlighting that COVID has also contributed significantly towards the increased number of annual aesthetic treatments. In fact, according to the American Academy of Facial Plastic and Reconstructive Surgery, the pandemic has led to a 10% increase in the number of cosmetic surgeries. Medical aesthetics is a well-established branch of modern medicine, which primarily focuses on enhancing the cosmetic appearance of an individual without clinical surgery. These treatments are mainly used for anti aging purposes by reducing fine lines and wrinkles, lifting flabby skin and skin rejuvenation. Additionally, medical aesthetic procedures can also help in reducing excess fat and cellulite, unwanted hair, and spider veins. Further, according to a study conducted by the International Society of Aesthetic Plastic Surgery (ISAPS), over 15 million invasive aesthetic procedures and 19 million non-invasive aesthetic procedures have been performed in 2022, globally. It is worth mentioning that nearly 90% of the industry clientele are women, however, these aesthetic procedures are also gaining popularity among men.

Owing to the widespread adoption of these procedures, medical aesthetics companies are actively pursuing the development of medical aesthetic products and devices, primarily focusing on the development of non-invasive or minimally invasive solutions. These treatments usually do not involve full-fledged surgical procedure, thereby causing lesser pain, minimal discomfort, fewer risks and short hospital stays, while offering long-lasting results. Popular minimally invasive medical aesthetic procedures include Botulinum toxin and aesthetic fillers that are mainly utilized for improving glabellar lines and skin tightening. It is worth highlighting that benefits of aesthetic procedures aren’t just limited to cosmetic appearance but also aid in addressing other commonly experienced healthcare concerns. For instance Botulinum toxin helps in limiting sweating and migraines. Further, some of the commonly performed non invasive procedures include body contouring, laser hair removal, tattoo removal and nail treatments. Body contouring devices are commonly employed for skin tightening, fat reduction and cellulite reduction purposes.

Medical aesthetic procedures can be performed at a medical aesthetic clinic and also at medical spas by various professionals, including dermatologists, plastic surgeons, physicians, nurse practitioners, registered nurses and even aestheticians. It is interesting to note that more than 70% of the today’s medical aesthetics market is dominated by hospitals, clinics and medical spas. In addition, South Korea, the plastic surgery capital, boasts the highest rate of cosmetic surgery per capita globally. This can be attributed to the well-established cosmetic surgery infrastructure and experienced medical professionals promoting aesthetics medical tourism within the country. However, the concern associated with medical aesthetic treatments is the violation of regulatory guidelines by certain medical professionals and medical aesthetic companies that can lead to side-effects. Therefore, it is crucial for the patient to undergo treatment by a licensed medical professional using certified aesthetic devices to avoid potential risks and complications. By overcoming these challenges and fulfilling the rising demand for medical aesthetic procedures, the medical aesthetics companies are likely to experience significant market growth over the forecast period.

Key Market Insights

The Medical Aesthetics Market: Distribution by Type of Product and / or Device Offered (Botox, Dermal Fillers, Chemical Peels, Body Contouring, Gluteal Implants, Hair Removal, Breast Implants and Other Products and / or Devices), Type of Procedure (Non-invasive, Minimally Invasive and Invasive), End User (Hospitals, Clinics / Med Spas and Dermatology / Cosmetology Centers, and Other end users), Gender (Male and Female), Distribution Channel (Direct Distribution and Indirect Distribution), and Key Geographical Regions (North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America): Industry Trends and Global Forecasts, 2023-2035 report features an extensive study of the current market landscape, market size and future opportunities associated with the medical aesthetics market, during the given forecast period. The market report highlights the efforts of medical aesthetics companies engaged in this growing segment of the cosmetic industry. Key takeaways of the medical aesthetics market report are briefly discussed below.

Current Market Landscape of the Medical Aesthetics Companies

Presently, more than 200 medical aesthetics companies are engaged in offering various products and devices to fulfil aesthetic requirements of clients. The landscape of medical aesthetics features a mix of large, mid-sized, small and very small firms. These players offer numerous products and / or devices, including Botulinum toxin, aesthetic fillers, chemical peels, microdermabrasion devices, microneedling devices, nose lifting products, thread lift products, aesthetic implants, facial aesthetics devices, gluteal implants, body contouring devices, laser hair removal devices, intense pulsed light (IPL) hair removal devices, breast implants, breast lifting / reconstruction devices, nail treatment devices and tattoo removal devices. These products and / or devices can be used for several aesthetic purposes, such as skin resurfacing, skin lightening, skin tightening, fat reduction, cellulite reduction and breast augmentation. Additionally, medical aesthetic companies offer all types of invasive, non invasive and minimally invasive solutions to address the requirements of all end users, such as hospitals, medical aesthetic clinic and individuals in home care settings.

Popular Medical Aesthetic Procedures

According to a study conducted by the International Society of Aesthetic Plastic Surgery (ISAPS), in 2022, Botulinum toxin was the most popular minimally invasive medical aesthetic procedure with over nine million procedures performed worldwide. The cost of the treatment usually ranges from USD 400-500, making it a cost-efficient alternative as compared to surgical approaches while providing immediate results. This is followed by dermal filler procedures, which constitute 25% of the total number of non-surgical procedures. Further, breast implants are the most commonly performed surgical procedures, globally. This can be attributed to increased incidences of breast cancer and constant innovations occurring in the field of breast implants. It is interesting to note that several innovations are going on to provide natural looking results to people seeking breast augmentation procedures. In fact, researchers in this field are working in developing micro-implants. These breast implants are designed in such a way that they can be inserted into the breast tissue by making small incisions and thus providing more natural looking results and ensuring maximal comfort. Additionally, some studies are also investigating the potential of stem cell breast implants, which involve removal of stem cells from the stomach and injecting them into the breasts that may result in one cup increase in size. Further, some plastic surgeons are also working on developing lightweight silicone aesthetic implants, wherein they are trying to reduce the weight of weight by 30%. The increasing efforts of researchers will significantly accelerate the growth of breast implants market.

Market Trends: Medical Aesthetics Companies Partnering to Expand their Product Portfolios

In recent years, several partnerships have been inked by various stakeholders in order to consolidate their presence and enhance their capabilities / product portfolio to meet the growing demand for medical aesthetic procedures. In fact, the partnership activity has witnessed a CAGR of ~15% in the past few years. It is worth mentioning that acquisitions and mergers emerged as the most common type of partnership model adopted by stakeholders in this domain. For instance, Reveal Lasers acquired NEOconcepts (July 2023) to gain their extensive medical aesthetic devices portfolio, particularly intended for facial aesthetic purposes. Further, the partnerships signed in the medical aesthetics market have been primarily focused on distribution of different products and devices across multiple geographies. In addition, some medical aesthetic companies have also collaborated for product / technology integration purposes to advance the development of innovative aesthetic devices. The analyst expects the medical aesthetic companies to continue to partner with other firms, hospitals and medical aesthetic clinic to expand their product portfolio in order to meet the rising demand of global clientele and drive the medical aesthetics market growth during the forecast period.

Market Trends: Medical Aesthetics Companies Have Raised Significant Capital in the Past Few Years

Over the years, monetary assistance from angel investors, venture capitalists, and funding schemes of various public and private organizations / funds, along with assistance from regulatory authorities, have allowed medical aesthetic companies to progress their R&D efforts related to the development of medical aesthetic products / devices. It is important to highlight that over USD 3.6 billion has been invested in this domain, since 2018. Examples of the players that have raised more than USD 30 million capital in 2023 include (in decreasing order of capital raised) Galderma (USD 1,000 million), Aeon Biopharma (USD 125 million) and Establishment Labs (USD 90 million). It is worth noting that most of the funding instances reported within this industry were venture capital rounds indicative of the emergence of the new players in this domain.

Medical Aesthetics Market Size: North America to Hold the Largest Market Share, While Asia-Pacific to Witness Highest Market Growth

Presently, close to 40% of the medical aesthetics market is captured by companies based in North America. Driven by the rising interest in advanced medical aesthetic solutions and increasing demand of medical aesthetic treatments in the cosmetic industry, the market size for medical aesthetic solutions in North America is anticipated to grow at a CAGR of 12%, during the forecast period, 2023-2035. A number of factors contribute to the region’s dominance in this industry which include the presence of several well-established companies with extensive manufacturing capabilities that foster innovation and drive the demand for medical aesthetic products and devices. It is worth highlighting that maximum number of medical aesthetic procedures were performed in the US, in 2022. This can be attributed to the increase in disposable income due to money saved on other things, such as travel and dining out during the pandemic. Additionally, in terms of market growth, the medical aesthetics market in Asia-Pacific is likely to grow at a relatively faster pace in the long term. It is worth highlighting that nearly 40% of the Asian medical aesthetics market is dominated by China and South Korea. This can be attributed to growing aesthetic awareness amongst the population and increasing aesthetics medical tourism in the region. Moreover, developing healthcare infrastructure and affordable price of treatments in this region is likely to propel the market.

Market Analysis: Minimally Invasive Procedures to Continue to Dominate the Medical Aesthetics Market

Non-surgical procedures capture the largest current market share and are likely to dominate the future market as well. This can be attributed to the immediate results that can be provided with these procedures while ensuring patient safety. Moreover, these procedures are cost effective when compared with surgical aesthetic procedures. The most commonly performed minimally aesthetic procedures include botulinum toxin and aesthetic fillers employed for skin rejuvenation and skin tightening. It is worth noting that botulinum toxin constitutes nearly 49% of the total non-surgical procedures performed in the year 2022, contributing significantly towards medical aesthetics industry growth. Companies, such as Merz Pharma offers uniquely purified botulinum toxin that can improve the facial appearance by reducing moderate to severe lines in an effective manner.

Medical Aesthetics Market: Key Growth Drivers

In the last few years, several factors have contributed towards the transformation of the medical aesthetics market. The increasing geriatric and obese population, lower treatment costs and fewer risks have contributed to the popularity of these procedures. Moreover, employment of effective marketing strategies in future is likely to drive the market growth in the coming years. It is interesting to note that COVID-19 pandemic has also contributed to the rising demand for these procedures. This is due to the shift in the global work culture, with more people frequently working from their homes and attending online meetings. While most of the online applications provide options to apply various filters and effects, platforms, such as Zoom does not offer any such functionalities making people feel insecure about their appearance. This self-consciousness among people, popularly termed as “Zoom Effect” has led to an increased interest in medical aesthetic procedures, contributing to overall medical aesthetics industry growth.

Key Players Offering Medical Aesthetic Solutions

Examples of the key companies engaged in the medical aesthetics market (the complete list of players is available in the full report) include (in alphabetic order) ADSS, Allergan Aesthetics, Astiland, Beijing Kes Biological Technology, BTL Aesthetics, Candela Medical, Classys, Croma Pharma, Cynosure, Daeyang Medical, Establishment Labs, Galderma, Guangzhou Itech Aesthetics, IBSA, Lumenis, Lutronic, MedicalZone, Mentor, Sanhe Medical, Shanghai Haohai Biological Technology, Sinclair Pharma, Sincoheren, Skin Tech Pharma, Wontech and Zesay Beauty. This market report also includes an easily searchable excel database of all the medical aesthetic companies worldwide.

Recent Developments in the Medical Aesthetics Market

Several recent developments have taken place in the field of medical aesthetics over the past few years. Some of these recent initiatives have been mentioned below. These developments, even though took place post the release of the market report, substantiate the overall market trends that have been outlined in the analyses.

In July 2023, a plant derived extracellular nanoparticle (PDEN) technology was supplied to S-Thetics, medical aesthetic clinic in UK. The technology is designed to help the skin’s signaling pathways to rebalance with the plant version of human exosomes to target inflammation. The platform rejuvenates and revitalizes the skin through peptides, growth factors, liposomes and amino acids.

Technological advancements have also contributed to the popularity of medical aesthetic procedures. Therefore, to provide less invasive, more precise and interactive sessions to the customers, stakeholders engaged in this domain are integrating advanced technologies in their practice. For instance, in January 2023, Galderma launched FACE, an aesthetic visualization solution that can simulate the results of injectable procedures using digital face assessment. The application permits advanced wrinkle detection for close to 20 injectable treatments by comparing patient’s images before and after the treatment procedure.

Scope of the Report

The market report features an in-depth analysis, highlighting the capabilities of various stakeholders engaged in providing medical aesthetic solutions. The different industry segments are highlighted below:

Medical Aesthetics Market: Report Attribute / Market Segmentation

• Base Year: 2022
• Forecast Period: 2023-2035
• Historical Trends: 2018-2022
• Market Size 2023: $35 Billion
• CAGR: 9.3%
• Type of Product and / or Device Offered
  • Botulinum toxin
  • Dermal Fillers
  • Chemical Peels
  • Body Contouring
  • Gluteal Implants
  • Hair Removal
  • Breast Implants
  • Other Products / Devices
• Type of Procedure
  • Non Invasive
  • Minimally Invasive
  • Invasive
• End User
  • Hospitals
  • Clincs / Med Spas and Dermatology / Cosmetology Centers
  • Other end users
  • Gender
  • Male
  • Female
• Distribution Channel
  • Direct Distribution
  • Indirect Distribution
• Key Geographical Regions
  • North America
  • Europe
  • Asia-Pacific
  • Middle East and North Africa
  • Latin America
• Key Companies Profiled
  • ADSS
  • Allergan Aesthetics
  • Astiland, Beijing Kes Biological Technology
  • BTL Aesthetics
  • Candela Medical
  • Classys
  • Croma Pharma
  • Cynosure
  • Daeyang Medical
  • Establishment Labs
  • Galderma
  • Guangzhou Itech Aesthetics
  • IBSA
  • Lumenis
  • Lutronic
  • MedicalZone
  • Mentor
  • Sanhe Medical
  • Shanghai Haohai Biological Technology
  • Sinclair Pharma
  • Sincoheren
  • Skin Tech Pharma
  • Wontech
  • Zesay Beauty

(Full list of ~200 companies captured in the market landscape analysis of the report)

• Excel Data Packs (Complimentary)
  • Market Landscape Analysis
  • Company Competitiveness Analysis
  • Partnerships and Collaborations
  • Funding and Investments Analysis
  • Market Forecast and Opportunity Analysis
• Customization Scope: 15% Free Customization Option (equivalent to 5 analysts working days)

Amongst other elements, the market report includes:

• A preface providing an introduction to the full report, Medical Aesthetics Market, 2018-2035.
• An outline of the systematic research methodology adopted to conduct the study on medical aesthetics market, providing insights on the various assumptions, methodologies and quality control measures employed to ensure accuracy and reliability of the findings.
• An overview of economic factors that impact the overall medical aesthetics market, including historical trends, currency fluctuation, foreign exchange impact, recession and inflation measurement.
• An executive summary of the insights captured during the research. It offers a high-level view of the current state of the medical aesthetics market and its likely evolution, in the mid to long term.
• A general overview on medical aesthetics, their evolution, types of medical aesthetic procedures and application areas of medical aesthetic solutions. Additionally, the chapter provides information on the advantages of these procedures over conventional beauty treatments and associated side effects. It also discusses the key growth drivers, emerging technologies, key challenges and future perspectives in this domain.
• An overview of the current market landscape of medical aesthetic companies, featuring information on year of establishment, company size (in terms of number of employees) and location of headquarters, type of offering (product and / or device), type of products and / or devices offered (Botox, dermal fillers, chemical peels, microdermabrasion devices, microneedling devices, nose reshaping implants / lifting products, thread lift products, facial implants, facial aesthetic devices, gluteal implants, body contouring devices, laser hair removal devices, IPL devices, breast implants, breast lifting / reconstruction devices, nail treatment devices and tattoo removal devices), application area (skin resurfacing, skin lightening, skin tightening, fat reduction, cellulite reduction and breast enhancement), type of procedure (invasive, non-invasive and minimally invasive) and end user (hospitals / clinics / medical spas, dermatology centers / cosmetic centers and others).
• Elaborate profiles of companies offering products and / or devices for medical aesthetic procedures, featuring information on their year of establishment, location of headquarters, company size (in terms of number of employees), leadership team, financial information (if available), medical aesthetics portfolio, recent developments and an informed future outlook.
• A detailed competitiveness analysis of medical aesthetic companies based on several relevant parameters, such as company strength (in terms of number of years since it was established), portfolio strength (in terms of type of offering, type of product and / or device offered and type of procedure) and number of end users served.
• An analysis of the partnerships and collaborations inked in the medical aesthetics market, during the period 2018-2023, based on several parameters, such as year of partnership, type of partnership, focus area, most active players (in terms of number of partnerships) and geographical analysis.
• An analysis of the funding and investments made in the medical aesthetics market, during the period 2018-2023, including seed financing, venture capital financing, debt financing, grants, capital raised from IPOs and subsequent offerings, at various stages of development in companies that are engaged in this field, based on several parameters, such as year-wise trend of funding instances, amount invested, type of funding, company size, geographical analysis, leading players (in terms of number of funding instances and amount raised) and investors (in terms of number of funding instances).
• An in-depth analysis of the factors that can impact the growth of the medical aesthetics market. It also features identification and analysis of key drivers, potential restraints, emerging opportunities and existing challenges.
• A detailed market forecast analysis in order to estimate the existing market size and future opportunity for medical aesthetics products over the next twelve years. Based on multiple parameters, likely adoption trends and number of medical aesthetic procedures performed, the analyst has provided an informed estimate on the market evolution during the forecast period 2023-2035. The report also features the likely distribution of the historical, current and forecasted opportunity within the medical aesthetics products market.

One of the key objectives of the market report was to evaluate the primary growth drivers and estimate the future market growth potential associated with the medical aesthetics market, over the forecast period. The analyst has provided informed estimates on the likely evolution of the market size for the forecast period, 2023-2035. The year-wise projections of the current and future opportunity for medical aesthetics market have been segmented based on relevant parameters, such as number of surgical and non-surgical medical aesthetic procedures performed annually and cost of each procedure. The market report also features the likely distribution of the current and forecasted opportunity across type of product and / or device offered (botox, dermal fillers, chemical peels, body contouring, hair removal, breast implants, gluteal implants and other products and / or devices), type of procedure (non-invasive, minimally invasive and invasive), end user (hospitals, clinics / med spas and dermatology / cosmetology centers, and other end users), gender (male and female), distribution channel (direct distribution and indirect distribution) and key geographical regions (North America, Europe, Asia-Pacific, Middle East and North Africa and Latin America). In order to account for future uncertainties and to add robustness to the model, the analyst has provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

The opinions and insights presented in the market report were influenced by discussions held with stakeholders in the industry. The report features detailed transcripts of interviews held with the following stakeholders:

• Aesthetic Physician, Director and Chief Medical Advisor of an Indian Company
• Senior Resident, Dermatology of an Indian based large Hospital
• Clinical and Aesthetic Dermatologist of an Indian based large Medical Research Institute

Further, all actual figures have been sourced and analyzed from publicly available information forums and secondary research inputs. Financial figures mentioned in this report are in USD, unless otherwise specified.