The global medical aesthetics market is growing at a significant CAGR of around 7.5% during the forecast period (2019-2025). The market is driven by growing cosmetic procedures, rising middle-aged population, and increasing disposable income across the globe. Further, growing minimally invasive procedure has increased the number of cosmetic procedures across the globe as the minimally invasive procedure provides faster recovery and better cosmetic results which are contributing to the market growth. As per the American Society of Plastic Surgeons (ASPS), a number of cosmetic procedures are continuously growing as there were around 17.7 million cosmetic procedures performed in the US including both, surgical and minimally invasive procedures in 2018, which is increased by 2% as compared to 2017. Among the total cosmetic procedure, around 15.9 million were cosmetic minimally invasive procedures in 2018.

Spending on beauty procedures is on a significant rise throughout the globe. Urbanization is leading to a modern lifestyle which has urged individuals to focus on physical appearance, thus more and more individuals are going for various beauty procedures. According to a report published by the American Society of Plastic Surgeons (ASPS), Americans spent more than ever with $16.5 billion on cosmetic plastic surgeries and minimally invasive procedures in 2018, a 4% increase from 2017. The most expensive surgical procedures include, facelift (121,531 procedures), $7,655, tummy tuck (130,081 procedures), $6,253, breast reduction (43,591 procedures), $5,680, and Nose reshaping (213,780 procedures), $5,350. Such growing expenditures on beauty procedures ultimately drive the growth of the medical aesthetics market.

Segmental Outlook  

The medical aesthetics market is classified on the basis of type and end-user. Based on type, the market is segmented into facial aesthetics, body contouring, cosmetic implants, hair removal, and others. Based on the end-user, the market is segmented into hospitals, dermatology clinics, and others.  

Global Medical Aesthetics Market Share by Type, 2018(%)

Facial aesthetics augments the global medical aesthetics market

Facial aesthetics contributes a significant share in the global medical aesthetics market. There are various applications covered under facial aesthetics market, such as plumping of thin lips, enhancement of shallow contours, softening of facial creases and wrinkles, improving the appearance of recessed scars, and reconstruction of contour deformities in the face, among others. A poll by VICE UK Snapchat was conducted on 60,000 people about the lip filler in the country in 2019. 59% of the respondent preferred procedures such as lip fillers as compared to getting a haircut or manicure. Around 66% of the poll agreed that they will like to change their facial features, 33% wanted to alter their nose, 24% their lips and 9% appearance of the cheek. Similarly, there is a wide scope for facial aesthetics across the globe, which in turn, augments the segmental growth in the market.

Regional Outlook 

The global medical aesthetics market is classified on the basis of geography, which includes North America, Europe, Asia-Pacific, and Rest of the World. North America holds a significant share in the global medical aesthetics market. A significant rise in cosmetic procedures was witnessed over the years in the US and Canada. In addition, the rise in the minimally invasive cosmetic procedures is offering growth to the medical aesthetics market in North America. For instance, as per the American Society of Plastic Surgeons (ASPS), there were 17.7 million surgical and minimally invasive cosmetic procedures performed in the US in 2018. Of which minimally invasive cosmetic procedures have significantly increased by nearly 228% since 2000. 

Global Medical Aesthetics Market Growth, by Region 2019-2025

Asia-Pacific is expected to propel with a considerable growth rate in the global market

Asia-Pacific is estimated to project a considerable CAGR in the global medical aesthetics market. This is backed by the rising disposable income and high proportion of middle-aged people in China, India, and Japan. The increasing influence from western culture is propelling the demand for lip augmentation, wrinkle treatment, and other non-surgical cosmetic procedures in China. According to ISAPS, China comprises 2,800 plastic surgeons in 2017, estimating around 6.4% of the total plastic surgeons across the globe. Such a wide availability of cosmetic surgeons further possesses to the increase in the demand for non-surgical cosmetic procedures in China. In addition, the affordability of cosmetic surgeries is rising in India due to the sustained growth of income. The adoption of modern medicine and newer therapies will increase due to market creation by players.

Market Players Outlook

The key players in the medical aesthetics market are contributing significantly by providing advanced technology-based products and through expanding their geographical presence across the globe. The key players operating in the global medical aesthetics market include Allergan, PLC, Anika Therapeutics, Inc., Galdermal Laboratories L.P., Merz Pharmaceuticals GmbH, and Johnson & Johnson Services, Inc. These market players adopt various strategies such as product launch, partnerships, collaborations, merger, and acquisitions to sustain a strong position in the market.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global medical aesthetics market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.