Medical Aesthetics Market Size, Share, Trends 2017-2031F

Global medical aesthetics market is projected to witness a CAGR of 11.44% during the forecast period 2024–2031, growing from USD 20.84 billion in 2023 to USD 49.58 billion in 2031. Medical aesthetics, also known as cosmetic procedures, are done by aestheticians using cosmetic devices that are minimally invasive and enhance the patient’s experience through the procedures. These devices can be very versatile in performing different procedures that address a wide variety of concerns, such as body contouring, tattoo removal, hair removal, skin aging, implantations, and much more. These devices can personalize treatment options according to individual preferences, ensuring maximum satisfaction.

The market for medical aesthetics is anticipated to expand significantly in the upcoming years. This market has the potential to expand further due to factors such as the increasing geriatric population, technological advancements, increased awareness about the possible surgical outcomes that can be achieved through surgery, and increasing income and living standards. Companies in the industry and healthcare practitioners are collaborating to provide the best tools and cosmetic solutions for patients. Both public and commercial organisations are raising money and investing a significant amount to provide quality solutions. These massive corporations use strategic maneuvers like collaborations, investments and mergers and acquisitions to increase their presence in the market. Sciton Inc. announced the expansion of its mJOULE system in 2023, which includes two vascular treatments called as ClearV and ClearSilk. This expansion has helped the company strengthen its product portfolio in energy-based aesthetic devices and mark its position as a trusted leader in delivering advanced solutions to healthcare professionals.

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Technological Advancements in the Medical Aesthetics Market

Technological developments are significantly influencing the medical aesthetics sector in developed countries. New instruments and techniques are being launched that prioritize patient pleasure, safety, and effectiveness. In dermatology, minimally invasive procedures like chemical peels, laser therapy, and microdermabrasion have become standard practices. The scope of treatment and possibilities is driving the demand for aesthetic services these procedures provide patients to address a variety of skin issues with little discomfort and downtime. With the use of advanced imaging technology, such as 3D models and high-resolution cameras, dermatologists can precisely diagnose patients’ skin diseases and adjust treatment regimens accordingly. Before having operations, patients can envision possible outcomes, which promotes informed decision-making and increases overall satisfaction. The delivery of these services has been revolutionized by telemedicine platforms, enabling patients to visit dermatologists remotely and receive professional advice from the comfort of their homes.

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This telemedicine has proven helpful for those who may not have easy access to specialised treatment and live in rural or underdeveloped locations. Patients may track the effectiveness of their treatments, keep an eye on the condition of their skin, and get customized skincare advice with the use of wearable technology and smartphone apps. Increased patient participation and adherence to treatment plans are encouraged by this, which eventually improves results. In 2022, GC Aesthetics, Inc. (GCA), a privately held medical technology business offering healthcare aesthetic solutions, announced the release of FixNip NRI, an innovative implant for the reconstruction of the nipple areola complex (NAC). The company has devised a solution to reconstruct the nipple areola complex for thousands of women worldwide.

Marketing and Advertising Strategies Contribute to Rising Awareness

Reputed brands provide confidence and trust to their consumers about their surgical procedures and devices through advertising. Advertising provides a forum for informing prospective patients about different cosmetic procedures, the benefits of different devices and procedures, and the expected results, guaranteeing that they have access to relevant and reliable information. Before-and-after photos, films, and visual demonstrations are frequently used in creative advertising to highlight the effectiveness of medical aesthetic equipment and help prospective patients visualize possible outcomes.

Marketers use data and consumer insights to target specific demographics and audiences to ensure that their marketing efforts reach those most likely to be interested in aesthetic procedures. Patient evaluations and testimonials, which provide real-life experiences and success stories, are widely used in advertising campaigns to build trust and credibility. Partnerships and collaborations with celebrities and social media influencers who use certain technologies or have undergone cosmetic procedures can greatly impact their fan base and quickly raise awareness and interest. To facilitate better decision-making, some clinics and device makers use interactive tools like augmented reality (AR) applications that let prospective patients see possible treatment results. For example, a special Mother’s Day discount was introduced in March 2024 by an aesthetic medicine clinic named Shine Medical Cosmetic Clinic, located in Kenilworth, United Kingdom. Along with many procedures discounted by up to USD 54.28 (£50), Shine Medical Cosmetic Clinic also provides a complimentary LED treatment with each radiant glow peel. With a variety of reasonably priced treatments, Shine Medical Cosmetic Clinic, headed by Dr. Shyna Raj, hopes to assist clients in achieving their cosmetic aspirations.

Botulinum Toxin Segment Leads the Global Medical Aesthetics Market

The bacteria clostridium botulinum produces the neurotoxic protein known as botulinum toxin. Injections of botulinum toxin typically obstructs nerve signals to the targeted muscle. The muscle reduces or lessens undesirable face wrinkles because it cannot contract without a signal. Therefore, both cosmetic and non-cosmetic treatments require very diluted quantities of botulinum toxin, including the treatment of dystonia, persistent migraines, frown lines between the eyebrows, and other such conditions. The market category is expanding due to factors such as the growing popularity of botulinum toxin operations among young adults, the increasing demand for less invasive cosmetic procedures, an increase in the number of people who are mindful of their appearance, and the introduction of new products. According to the American Society of Plastic Surgeons poll, one of the most popular minimally invasive cosmetic procedures among patients is botulinum toxin Type A. Also, it was noted that patients between the ages of 31 and 45 most frequently seek out cosmetic botulinum toxin type A operations. The key competitors in the market are also making significant investments in technical advancements and increasing their import and export of products containing botulinum toxin. In September 2022, Revance Therapeutics Inc.’s USFDA authorised DAXXIFY (DaxibotulinumtoxinA-lanm) received an approval for injection to treat adults with moderate to temporarily severe frown lines (glabellar lines).

North America Dominates the Global Medical Aesthetics Market

The market for medical aesthetic devices in North America is anticipated to develop significantly because of the region’s advancements in technology, growing awareness of aesthetic and minimally invasive procedures, and the rising volume of various aesthetic procedures performed in the United States and Canada. The region’s high rate of aesthetic operations generates demand for aesthetic devices, which in turn propels the market’s expansion. High concentration of major players in North America are promoting product launches, which is also an important factor contributing to the regional market’s expansion. Mentor Worldwide LLC, a division of the Johnson & Johnson Medical Devices Companies, declared in January 2022 that the MENTOR MemoryGel BOOST breast implant for breast augmentation and reconstruction has received FDA approval. This product has supported the company to expand its portfolio in the United States market. Allergan, a division of AbbVie Inc., announced in February 2022 that JUVÉDERM VOLBELLA XC received FDA approval for the treatment of infraorbital hollows in people over the age of 21.

Future Market Scenario (2024–2031F)

One of the main factors contributing to the anticipated growth of the medical aesthetics market is the increasing awareness and desire to achieve the best possible physical features in the general population. Given that technology is serving the best quality results expected by people, satisfaction level with these kinds of treatments is very high. Players in this market are expanding at an unparalleled rate, introducing advanced and efficient aesthetic surgery technologies. For instance, Cynosure released the PicoSure Pro device in June 2022, marking the most recent iteration of the PicoSure platform. PicoSure Pro is one of the first 755 nm picosecond lasers to receive FDA clearance. Similarly, Gladerma launched its FACE by Gladerma in 2023, which is an augmented reality tool. It enables the professionals and patients to preview the possible results of any injectable procedure to achieve the best results. The government is enacting new laws and generating money to enhance the quality of healthcare provided globally.

Report Scope

“Medical Aesthetics Market Assessment, Opportunities, and Forecast, 2017–2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of the global medical aesthetics market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

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