Global aesthetic medicine market sales in 2021 were pegged at US$64.6 billion. With 10.3%, the estimated market growth analysis between 2022 and 2032 is expected to be considerably higher.
The noninvasive procedure is expected to be the highest revenue-generating service, representing an absolute dollar opportunity of nearly US$64.4 billion. This increases the demand for the aesthetic medicine market.
From 2017 to 2021, the market aesthetic medicine industry value grew to around 8.9% CAGR, in countries like the United States, Canada, Brazil, Mexico, and Germany which held a significant share of the global market.
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COVID-19 impacts limited non-emergency medical services, dermatology and aesthetic medicine markets are expected to recover rapidly once the outbreak is over.
It is estimated that the aesthetic medicine market will benefit from increased awareness and demand for preventative procedures that confer the anti-aging benefits of injectable drugs early in life. Adults are very aware of their physical appearance. This has increased the demand for cosmetic operations, with botox being one of the most popular categories.
The combined influence of consumer improvement phenomenon and increased consumer awareness is due to new innovations in digital media marketing.
Non-invasive operations have grown in popularity over invasive procedures. As a result, the market trend has seen strong growth in recent months and is expected to grow at a CAGR of 10.3% over the next 10 years.
Key points to remember:
- The non-invasive procedures segment accounted for 53.7% of the aesthetic medicine market scope with revenue of US$37.9 billion in 2022.
- In 2022, North America will contribute over 41% of market revenue.
- An increase in awareness and demand for preventative procedures that provide anti-aging benefits to injectable drugs early in life is expected to drive the aesthetic medicine market.
- With a market share of over US$6.8 billion, liposuction was the largest contributor in invasive procedures, while Botox with a market share of approximately US$9.5 billion
- Breast augmentation has seen a significant increase in the invasive procedure, which is expected to grow to US$16.8 billion by 2032 with a CAGR of 9.6%.
- Compared to invasive procedures, non-invasive procedures have a higher market share. Less pain, faster results and lower costs are contributing to the growth in global demand for non-invasive procedures.
- Patients are also interested in cosmetic procedures because of its simplicity with which they can heal at ease. This has led to increase in demand for aesthetic medicine market.
- The development of advanced aesthetic devices such as non-invasive aesthetic devices and increasing attention to physical appearance are significant market drivers.
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- In January 2021, Allergan Aesthetic partnered with Cypris Medical, a private Chicago-based medical device company. The clinical trial has already begun, and it is helping to assess and cross-check the safety of Xact in the treatment of facial skin and deepening of the nasolabial fold.
- In December 2021, Allergen Aesthetics, a division of AbbVie, recently acquired Soliton, Inc., a medical technology company. This acquisition will expand the company’s line of non-invasive body contouring therapies.
- In December 2020, Galderma made a significant investment in its aesthetic portfolio, including the development of its US sales force and enhancements to the digital capabilities of ASPIRE Galderma Rewards. The company’s position in the medical aesthetic sector has been strengthened for the initiatives.
Key players in the Aesthetic Medicine Market include:
- Galderma Laboratories
- Merz Pharmaceuticals
- Alma’s Lasers
- Johnson & Johnson
- Solta Medical
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Market Segments Covered in the Aesthetic Drugs Industry Analysis:
- By type of procedure:
- Invasive procedures
- Mammal augmentation
- Nose reshaping
- Eyelid surgery
- Other invasive procedures
- Invasive procedures
- Non-invasive procedures
- Botox injections
- Soft tissue fillers
- Chemical peel
- Laser hair removal
- Non-invasive procedures
- By region:
- North America
- Latin America
Check out Fact.MR’s healthcare coverage:
Aesthetic ophthalmology devices market: The global aesthetic ophthalmology devices market is witnessing significant growth owing to the increase in the prevalence of eye disorders and advancements in technology. Additionally, the growing awareness of rejuvenation in aesthetic ophthalmology is increasing the demand for devices.
Aesthetic wellness market: The demand for aesthetic wellness services is increasing rapidly over time to improve physical appearance and treatment of skin disorders. Aesthetic wellness services include non-invasive and minimally invasive cosmetic procedures. Aesthetic wellness and cosmetic surgery is an exciting field and a new trend in modern medicine.
Oral and topical anesthetics market: Anesthesia is a feeling of reversible loss induced by a drug called an anesthetic. Among these drugs, oral and topical anesthetics are the drugs that reversibly block nerve conduction in and around the target administration site, primarily in the mouth or oral sites. Oral and topical anesthetics penetrate the mucous surfaces of the mouth more easily than through a keratinized surface due to the absence of the stratum corneum (through the openings of the hair follicles and sweat glands.
Non-invasive aesthetic treatment market: The size of the non-invasive aesthetic treatments market was around US$53.3 billion in 2021, and it is expected to grow with the compound annual growth rate (CAGR) of 16.5% for the period from 2022 to 2032. In recent years, growing interest in adult appearance has led to increased demand for non-invasive aesthetic treatments.
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