Medical Aesthetics Market Size, Share & Industry Analysis, By Type (Energy-based Devices, Non-energy-based Devices, and Others), By Application (Skin Resurfacing & Tightening, Body Contouring and Cellulite Reduction, Hair and Tattoo Removal, Breast Augmentation, and Others), By End-user (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2024-2032

The global medical aesthetics market size was valued at USD 22.84 billion in 2023. The market is projected to grow from USD 25.48 billion in 2024 to USD 67.89 billion by 2032, exhibiting a CAGR of 13.0% during the forecast period.

In recent years, there has been a gradual increase in the number of aesthetic procedures performed across the world. The increase is due to the majority of the population opting for minimally invasive, and non-invasive procedures such as botulinum toxin and dermal fillers due to various benefits offered by these procedures. The benefits offered include reduced side effects, less time taken for recovery, and pain-free procedures, among others.

• As per the data published by the International Society of Aesthetic Plastic Surgery in 2023, it was reported that in the U.S., the total number of non-surgical procedures was 5,802,761 in 2022.

Also, the growing popularity and adoption of cosmetic procedures among the male population are increasing each year. Moreover, the demand for non-energy-based procedures such as dermal fillers and botulinum toxin is also responsible for the overall growth in the number of procedures performed. These factors and the balance between genders in adopting cosmetic procedures are gradually improving, resulting in the overall demand for medical aesthetics.

As the demand for medical aesthetics continues to grow, many companies in the industry are investing in research and development to introduce new products with advanced technology. The latest developments are focused on offering pain-free treatment for minimally invasive and non-invasive procedures. Also, the companies are focused on receiving various product approvals from countries such as the U.S., Canada, and Europe, which is further driving the adoption of aesthetic devices in the market. Moreover, increasing disposable incomes in emerging countries, such as India, China, and Brazil, among others, and the availability of home-based products are further fueling the market expansion.

On the other hand, various cosmetic procedure volumes declined during the pandemic due to decreased demand for these procedures worldwide. The government has laid guidelines to postpone elective procedures to manage COVID-19. The halt on elective surgical procedures in many countries during COVID-19 was responsible for the decrease in the number of cosmetic surgical procedures performed. Also, the imposed lockdowns and disruptions in supply chains affected the sales of aesthetic devices, and several manufacturers reported a drop in product sales. Ease of lockdown restrictions, introduction of innovative products by key players in the market, and the growing demand for non-invasive cosmetic procedures led to increased demand for medical aesthetics in 2021. The market is projected to grow steadily over the forecast period. 

Medical Aesthetics Market Trends

High Demand for Botulinum Toxin and Dermal Filler-based Treatment

There has been a preferential shift of patients toward non-invasive procedures, such as botulinum toxin, dermal fillers, and chemical peels, among others over surgical procedures.  Several benefits offered by non-invasive treatment options, such as less recovery time, lower side effects, faster results, better outcomes, and others, are important in increasing the adoption of these procedures.

In recent years, the demand for facial aesthetics has increased among the general population to improve their appearance. This has led to the rising demand for dermal filler procedures used for correction of wrinkles, acne scars, and others. In addition, the assurance of fewer adverse reactions than other dermal fillers has fueled the market's demand for hyaluronic acid-based dermal fillers.

Also, key industry players are investing in R&D for the development of new fillers to meet the increasing demand for dermal fillers in the market. For instance, in February 2021, Merz Pharma announced the launch of BELOTERO BALANCE + Lidocaine in the U.S. BELOTERO BALANCE is a dermal filler for etched-in lines, and the advantages of lidocaine formulation provide a perfect finish to filler patients.

However, the growing popularity among the male population in adopting procedures, such as botulinum toxin in recent times, particularly those over the age of 50 years opting for such procedures to improve their appearance and have a younger look, is further increasing the demand for these procedures in the market.

• As per the data published by the International Society of Aesthetic Plastic Surgery in 2023, in the year 2022, 1,370,495 botulinum toxin procedures are performed on men across the world.

Thus, the growing popularity of these procedures and the availability of advanced products are increasing the demand for dermal fillers and botulinum toxin-based treatment.

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Medical Aesthetics Market Growth Factors

Growing Demand for Home-based Aesthetic Procedures to Boost the Market

In various countries, there is an increase in the prevalence of dermatological conditions among the general population such as acne, psoriasis, skin cancer, and others. The market is witnessing an increase in demand for cutting-edge solutions due to the presence of a large patient base with severe skin problems that need treatment.

• As per the data published by the British Skin Foundation in 2023, around 20% of children in the U.K. have eczema, along with nearly 60.0% of people are suffering from some kind of skin condition in the country

However, the availability of home-based products is raising the demand for home-based procedures for treating dermatology conditions. The manufacturers are focusing on developing and introducing new technologies such as LED and radiofrequency-based devices which can be used at home, resulting in the growing adoption of home-based devices.

• In July 2022, LightStim launched Elipsa, the first device to offer dual treatment options for treating acne and wrinkles using LED-based technology. This device is used at home by users.

The factors mentioned above and the adoption rate of patients for innovative products to receive treatment and use at home are further fueling the market growth.

RESTRAINING FACTORS

High Cost of Devices to Limit the Medical Aesthetics Market Growth

Various players in the market are focused on introducing new devices to meet the increasing demand for aesthetics worldwide, resulting in the increasing costs of the devices in the market.

• For example, as per the data published by Medicreations in 2021, the average cost of new aesthetic devices can be around USD 120,000 to USD 300,000.

Also, the high costs of procedures such as breast augmentation, abdominoplasty, and the lack of reimbursement policies to cover these procedures are restricting users from undergoing cosmetic procedures as most people cannot afford such huge costs. For instance, according to an article published in January 2023, procedures, such as facelifts, can start at USD 8,000, excluding facility and other related costs.

Additionally, non-surgical cosmetic treatments typically only last one or two years. For example, botulinum toxin treatment needs to be redone every 4-6 months. This is resulting in non-surgical cosmetic procedures being less cost-effective. Also, the cost of the hyaluronic acid filler (e.g., Juvederm Ultra, Juvederm Ultra Plus, Perlane, Restylane, and Belotero) is around USD 652 and fat grafting is around USD 2,163.

Thus, the lack of reimbursement policies, high costs associated, and various risks of the treatment are further restricting the market growth.

Medical Aesthetics Market Segmentation Analysis

By Type Analysis

Increasing Demand for Non-Surgical Procedures among Young Population to Drive Market

On the basis of type, the market has been split into energy-based devices, non-energy-based devices, and others.

The non-energy-based devices segment held a dominant share of the global market in 2023. In recent years, the demand for procedures such as dermal fillers, chemical peels, among others is increasing due to various benefits offered by these procedures. Increasing focus of manufacturers on introducing new products and getting product approvals to meet the growing demand for these non-surgical procedures is further fueling the segment.

• In September 2022, Sientra Inc., gained approval from Saudi Food and Drug Authority to commercialize the recently manufactured gel breast implants made with silicone materials that are mostly preferred by the customers, in Saudi Arabia.

Also, increasing patient population undergoing botulinum toxin, dermal filler procedures, and hair removal procedures across the world is resulting in the increased demand for non-energy based aesthetic devices. Similarly, the extensive presence of hospitals and dermatology clinics conducting cosmetic procedures with dermal fillers across the regions further propels the segmental growth. According to statistics by the International Society of Aesthetic Plastic Surgery (ISAPS), in 2022, the number of HA-based dermal filler procedures performed in Brazil was 327,563.

On the other hand, energy-based devices segment is anticipated to register a significant CAGR during the forecast period due to introduction of new products with advanced technologies such as ultrasound, radiofrequency, and others. For example, in April 2021, Sisram Medical Ltd. launched Alma PrimeX, which has ultrasound and radiofrequency technologies. The device is used for circumference reduction and skin tightening in abdomen, waist, thigh, and buttocks areas.

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By Application Analysis

Increasing Need for Skin Application Treatments to Boost the Skin Resurfacing & Tightening Segment

On the basis of application, the market has been divided into skin resurfacing & tightening, body contouring and cellulite reduction, hair and tattoo removal, breast augmentation, and others.

The skin resurfacing & tightening segment captured the largest market share in 2023. The presence of a large patient pool undergoing various treatments for skin applications such as acne scars, fine lines and wrinkles, sagging skin, and others is increasing the demand to treat such conditions. The increasing patient demand for technological advancements in skin resurfacing procedures and approvals from various government agencies for the launch of advanced devices is contributing to the augmentation of the segment.

• In May 2022, Apyx Medical announced that it received 510(k) clearance from the U.S. FDA for the use of the Renuvion Dermal Handpiece for specific dermal resurfacing procedures. The Renuvion Dermal Handpiece is designated for the treatment of moderate to severe wrinkles and rhytides.

Additionally, several benefits of advanced skin rejuvenation include minimal recovery time, gradual and natural-looking changes in the skin, quick and simple appointments, and others. These factors have resulted in the increasing popularity of these devices among the general population.

The hair and tattoo removal segment is slated to expand during the forecast period due to increased awareness of hair removal procedures and high demand for advanced technologies, thereby boosting the segment growth. For example, in June 2020, Cynosure announced the launch of the Elite iQ platform in the European market. Elite iQ platform offers personalized laser hair removal treatments and permanently reduces unwanted hair for all skin types, anywhere on the body.

By End-user Analysis

Preferential Shift of Patients Toward Specialty Clinics to Propel the Segment Growth

Based on end-user, the market is classified into hospitals, specialty clinics, and others.

Specialty clinics segment captured the largest market share in 2023. The surging demand for minimally invasive procedures and shift of patients toward specialty clinics over hospitals are responsible for the growth of this segment. Also, the increasing number of specialty clinics in various countries performing aesthetic procedures is further fueling the advancement of the segment.

• As per the data published by PolicyBee Ltd., in 2022, it was reported that around 950 medical aesthetics clinics are currently operating in the U.K.

On the other hand, the hospitals segment is anticipated to register a significant CAGR during 2024-2032. The growth is primarily attributed to the increasing number of procedures, particularly breast procedures and other surgical procedures, which are mainly performed in hospitals.

• As per the data published by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2022, out of total cosmetic procedures conducted around 47.4% were performed in hospitals in the U.S.

REGIONAL INSIGHTS

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The North America medical aesthetics market size accounted for USD 12.28 billion in 2023. The dominance is due to the increasing popularity of cosmetic procedures and the growing number of surgical and non-surgical procedures in the U.S. Also, the presence of highly qualified plastic surgeons performing various procedures related to medical aesthetics and the growing number of clinics in the region are propelling the market.

• As per the data published by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2022, around 7,461 plastic surgeons are present in the U.S.

Asia Pacific held the second position in the global market. The demand for dermal fillers and botulinum toxin treatments in countries such as India, Japan, and Thailand along with the high demand for facial aesthetic procedures in countries such as China, South Korea, among others is responsible for the market growth in Asia Pacific.

• As per the International Society of Aesthetic Plastic Surgery (ISAPS), in 2022, in Thailand, the number of botulinum toxin procedures was 30,330, which accounted for 69.8% of total non-surgical cosmetic procedures.

Europe is expected to register a significant CAGR during the forecast period. The increasing number of non-invasive procedures along with the growing demand for medical tourism where people are traveling from other countries to Spain, Germany, and the U.K. for various procedures is fueling the market growth in Europe. As per the International Society of Aesthetic Plastic Surgery (ISAPS), in 2020, around 14.8% of patients attended from other countries for various medical aesthetics purposes in Spain.

On the other hand, Latin America and the Middle East & Africa are expected for significant growth rate during the forecast period due to the increasing number of aesthetic clinics in countries, such as Dubai, and Saudi Arabia, among others, to meet the growing demand for various cosmetic procedures including botulinum toxin, dermal fillers, and breast augmentation.

• For example, as per the data published by NCBI in 2021, Dubai is called the plastic surgery hub and reported 236 licensed plastic surgeons and 400 aesthetic clinics. 

Also, the surging demand for medical tourism in countries such as Brazil, Mexico, and others along with the high number of plastic surgeons and the increasing healthcare infrastructure with advanced technologies is further responsible for the market expansion in these regions during the forecast period.

• For example, as per the data published by the International Society of Aesthetic Plastic Surgery (ISAPS), in 2022, Brazil was the second leading country with around 6,200 plastic surgeons after the U.S.

List of Key Companies in Medical Aesthetics Market

Strong Product Portfolio of Key Competitors to Elevate the Market

As per competitive landscape, Sisram Medical Ltd. accounted for the highest medical aesthetics market share in 2023 due to the availability of a wide variety of products and increasing focus on introducing new advanced products.

• In October 2020, Alma Lasers announced the launch of Alma Hybrid for ablative, non-ablative, and thermal treatments for skin rejuvenation and scar revision, combining the power of CO2 laser, 1570 nm laser, and IMPACT.

Other companies such as Merz Pharma, Apyx Medical, and AbbVie Inc., among others have their effective products marketed globally. The increasing focus on inorganic growth strategies to expand the company’s product portfolio and receiving product approvals from regulatory bodies are expected to favor the expansion of these companies.

• In December 2021, Allergan Aesthetics acquired Soliton, Inc., to expand its body contouring portfolio.

LIST OF KEY COMPANIES PROFILED:

• Sisram Medical Ltd (Israel)


• Merz Pharma (Germany)


• Apyx Medical (U.S.)


• AbbVie Inc. (U.S.)


• El.En. S.p.A. (Italy)


• Johnson & Johnson Services, Inc. (MENTOR) (U.S.)


• Candela Medical (U.S.)


• Cutera (U.S.)


• Bausch Health Companies Inc. (Canada)


• Sientra, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• November 2023 – LUBEX introduced Sapphire ice-cooling hair removal device. This device can be used at home.


• May 2023 – The U.S. FDA approved SKINVIVE by JUVÉDERM by Allergan. This is used to improve the smoothness of the cheeks.


• July 2022 – Apyx Medical announced that Renuvion device was cleared the U.S. Food and Drug Administration (FDA) for use in aesthetic procedures to enhance the appearance of lax skin in the neck region.


• March 2021 – Bausch Health Companies Inc. launched the Clear + Brilliant Touch laser in the U.S. Clear + Brilliant Touch laser provides customizable treatment for patients of all ages and skin types.


• January 2021 – Mentor Worldwide LLC, a Johnson and Johnson Services Inc. company, received the U.S. FDA approval for the MENTOR MemoryGel BOOST breast implant in breast augmentation in women of age 22 years and above undergoing breast reconstruction.


• June 2019 – AbbVie Inc. received FDA approval for its CoolTone device, which is used to strengthen, tone, and firm muscles using magnetic muscle stimulation technology. Also, the growing focus on combination technologies in one device is further fueling the segment growth.


• April 2019 – Merz Pharma announced the new launch of belotero revive dermal filler. The product contains a combination of hyaluronic acid (HA) and glycerol that improves skin hydration, reduces the redness on the skin, and reduces the appearance of fine lines.

REPORT COVERAGE

The research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, type, application, and end-user. Besides this, the market analysis highlights key industry developments and offers insights into the market trends. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth in recent years.

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Report Scope & Segmentation