How Much Revenue Aesthetic Medicine Market Will Generate Globally Till 2030? |Grand View Research, Inc.

Posted by Mrudula Anil Karmarkar on March 14th, 2024

San Francisco, 14 March 2024: The ReportAesthetic Medicine Market Size, Share & Trends Analysis Report By Procedure Type (Invasive Procedures, Non-invasive Procedures), By Region (North America, Asia Pacific, Europe), And Segment Forecasts, 2024 - 2030

The global aesthetic medicine market size is expected to reach USD 332.1 billion by 2030, growing at a CAGR of 14.9% over the forecast period, according to a new report by Grand View Research, Inc. According to the International Association for Physicians in Aesthetic Medicine (IAPAM), aesthetic medicine is a branch of medicine focused on satisfying the aesthetic desires and goals of patients. The major aim of aesthetic medicine is to improve the physical appearance of the patient. Some key drivers of the market include the introduction of innovative aesthetic devices, such as non-invasive aesthetic devices, a growing focus on physical appearance, and a rise in adoption among geriatric individuals.

Aesthetic medicine mainly includes invasive and non-invasive procedures. Invasive procedures include breast augmentation, liposuction, and nose reshaping while non-invasive procedures include popular technology, such as Botox injections, soft tissue fillers, and chemical peel. A rise in the number of obesity cases in the US has propelled the demand for aesthetic treatments in the country. In the Asia Pacific region, the rise in income levels in countries, such as China and India, is expected to create lucrative opportunities for the market. The region is also backed by South Korea, which is the hub of cosmetic surgeries.

A significant driver for the thriving aesthetic medicine market is the rising societal focus on individual appearance, propelling an increased desire for aesthetic procedures. This shift in cultural norms, combined with an expanding awareness of the diverse cosmetic solutions now accessible, has played a pivotal role in driving the market's upward trajectory. The growing acknowledgment and acceptance of various cosmetic interventions reflect an evolving mindset towards personal aesthetic enhancement, serving as a key driver in sustaining the aesthetic market's growth.

The 2022 data from the International Society of Aesthetic Plastic Surgery (ISAPS) highlights key trends in the top five global surgical procedures, providing insights into the factors shaping the aesthetic medicine market. Liposuction emerged as the most performed procedure, totaling 2,303,929, followed closely by Breast Augmentation at 2,174,616. Eyelid Surgery secured the third position with 1,409,103, and Abdominoplasty claimed the fourth spot with 1,180,623. The fifth spot was occupied by Breast Lift, recording 955,026 procedures.

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Thus, the market has witnessed a spike during the past few months and is expected to be in high demand throughout the forecasted period. 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. According to the International Society of Aesthetic Plastic Surgery (ISAPS), in 2022, India was ranked among the top 5 countries performing non-surgical procedures at a global level. This highlights the lucrative growth prospects that lie ahead for industry players in the country.

Aesthetic Medicine Market Report Highlights

• The non-invasive procedures segment is projected to dominate the industry throughout the forecast period owing to quicker and more accurate results of these procedures along with ease of usage compared to invasive procedures
• Breast augmentation and liposuction are among the fastest-growing sub-segments under the invasive procedures segment over the forecast years
• Asia Pacific is projected to be the fastest-growing region with a CAGR of 16.5% during the forecast period
• Countries, such as South Korea and India, are expected to serve as key revenue pockets

The aesthetic medicine market has witnessed significant expansion, propelled by a combination of factors, and key industry players have played a central role in shaping its trajectory. Increasing consumer awareness and a societal emphasis on appearance have driven the surge in demand for aesthetic treatments. Advancements in technology, especially in non-invasive procedures, have widened the market's attractiveness, drawing in a varied clientele seeking safer and more efficient solutions.

Prominent players in the dynamic aesthetic medicine market include Allergan (now a part of AbbVie), renowned for its iconic Botox and Juvederm offerings; Alma Lasers, acknowledged for pioneering laser and light-based devices; Galderma, a leading force in dermatology, emphasizing aesthetic solutions; Syneron Medical Ltd., providing a diverse array of aesthetic devices; and Cynosure, specializing in innovative laser technologies. These industry leaders consistently propel innovation, conduct extensive research and development, and shape the market by introducing state-of-the-art products and strategic initiatives. Their influence extends beyond product portfolios, impacting market trends, standards, and the overall evolution of the aesthetic medicine market.

Aesthetic Medicine Market Report Scope

Key Aesthetic Medicine Companies:

The following are the leading companies in the aesthetic medicine market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these aesthetic medicine companies are analyzed to map the supply network.

• AbbVie
• Cynosure
• Evolus Inc.
• Revance Galderma
• Lumenis
• Solta Medical
• Syneron Candela
• Alma Laser