Aesthetic Medicine Market to Grow with a CAGR of 12.27% through 2028
Increasing beauty consciousness, social media
influence is expected to drive the Global Aesthetic Medicine Market growth in
the forecast period, 2024-2028.
According to
TechSci Research report, “Aesthetic Medicine Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Aesthetic Medicine Market stood at USD 105.01 Billion in 2022 and is
anticipated to grow with a CAGR of 12.27% in the forecast period, 2024-2028. The
growing awareness about fitness and overall appearance has increased the demand
for aesthetic treatments in developing countries. Aesthetic procedures, such as
liposuction, nose reshaping, and Botox injections, are gaining consumer
interest in countries, such as India and South Korea. Manufacturers
coming up with innovative aesthetic devices has led to an increased demand for
aesthetic treatments in recent years. For instance, the introduction of
technologically advanced products, such as non-invasive body contouring
systems, which use fat-freezing technology is expected to create lucrative
opportunities in coming years. According to the Aesthetic Society (U.S.),
non-invasive body fat reduction was among the top 5 non-invasive procedures in
the U.S. in 2020 with 140,314 procedures being carried out.
However,
remote working has increased the time spent on Zoom calls. Adults are paying
attention to their physical appearance closely. This has increased the demand
for cosmetic surgeries, with Botox being one of the most popular procedures.
Interest in non-invasive procedures has increased during the past few months
while interest in invasive procedures has declined.
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"Global Aesthetic Medicine Market”
Minimally
invasive or noninvasive procedures can generally happen in the office setting
and need minimal recovery time, allowing individuals to return to their normal
activities without delay. Also, the accessibility of these procedures is
playing a crucial role in increasing the demand. The affordability and
availability of such procedures make them more accessible to a broad range of
individuals.
The
demand for aesthetic procedures is rising due to several factors, such as
increasing beauty consciousness, social media influence, and growing disposable
income. As a result, more people opt for aesthetic treatments to enhance their
appearance and self-confidence.
The Global Aesthetic
Medicine Market is segmented into procedure type, regional distribution, and
company
Based on Type,
the Nitinol Stone Retrieval Basket segment has emerged as the predominant
market leader, the segment will continue to grow at a significant rate during
the forecast period. The nitinol stone retrieval basket segment led the market
with the highest revenue share in 2022. In stone removal surgeries, it is
essential to navigate in particular areas without causing any discomfort to the
patient. Nitinol stone retrieval baskets are flexible and can also endure high
amounts of strain. These baskets are much safer and less damaging as compared
to other baskets. These baskets also effectively lead to the fragmentation and
extraction of the stone. These factors are supporting the demand for nitinol
stone retrieval baskets in the market.
Based on Procedure
Type, non-invasive procedures segment is expected to grow during the forecast
period. This segment's growth is mostly due to Less pain, instant results, and
low cost are some of the factors that have boosted the demand for non-invasive
procedures at a global level. Popular non-invasive procedures include Botox
injections, soft tissue fillers, and chemical peel. In
June 2020, Allergan Aesthetics, a subsidiary of AbbVie Inc. (U.S.), received
FDA approval for JUVÉDERM® VOLUMA™ XC for the augmentation of the chin region
in adults over the age of 21 years. Apart from this, in 2019, FDA approved,
Jeuveau, which is similar to Botox; however, available at a lower cost compared
to Botox.
Major companies
operating in Global Aesthetic Medicine Market are:
- Evolus, Inc.
- Cynosure LLC.
- Revance Therapeutics,
Inc.
- Galderma S.A.
- Alma Lasers Inc.
- AbbVie Inc.
- Solta Medical Inc.
- Lumenis Inc.
- Syneron Inc.
- Bausch Health
Companies, Inc.
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“The development
of new technologies such as laser devices, radiofrequency devices, and
minimally invasive procedures has expanded the range of available aesthetic
treatments. These advancements have made the procedures safer, less invasive,
and more effective, increasing patient satisfaction. With
the aging population on the rise, there is an increasing demand for aesthetic
treatments that address age-related skin concerns. Older patients seek
treatments such as dermal fillers, Botox, and skin rejuvenation therapies to
reduce the signs of aging and improve their appearance.
Aesthetic medicine is a highly regulated industry, with different
regulations and guidelines in different regions. These regulations can
challenge companies seeking to enter new markets, as they must navigate the
complex regulatory environment. While
many aesthetic treatments are safe and effective when performed by qualified
professionals, there are also risks associated with some procedures. Patients
may experience adverse effects like infection, scarring, or anesthesia-related
complications. It is essential for patients to thoroughly research the
treatment and practitioner before undergoing any procedure. The aesthetic medicine market is driven by the
increasing demand for cosmetic procedures, technological advances, and the
growing aging population.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Aesthetic Medicine Market By Procedure
Type (Invasive procedures v/s Non-invasive procedure), By
Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Aesthetic Medicine Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Aesthetic Medicine Market.
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