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Global Medical Aesthetics Market - Outlook and Forecast 2022-2027
The global medical aesthetics market is experiencing rapid growth, with a compounded annual growth rate (CAGR) of 13.71% projected from 2022 to 2027. It is anticipated to reach USD 45.52 billion by 2027, up from USD 21 billion in 2021. Several trends are driving this market expansion. Firstly, there is an increasing number of consumers seeking aesthetic procedures at a younger age. Additionally, there has been a rise in men seeking cosmetic enhancement procedures. Moreover, there is a growing preference for non-invasive cosmetic procedures over surgical options.
The market is witnessing the introduction of advanced and innovative devices and products from both global and local vendors. Facelifts, liposuction, botox and neuromodulators, skin resurfacing, and intense pulse light procedures are experiencing high demand across various age groups.
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USD 21.1 billion in 2020
Procedures, Product, Application, End User, and Geography
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Medical aesthetics treatments focus on improving the appearance of patients’ skin and body. These treatments are less aggressive than surgical interventions and encompass minimally invasive and non-invasive procedures that enhance body shape, skin texture, and other aesthetic benefits. They require a high level of skill, knowledge, and training in human anatomy and physiology.
Despite the barriers and restrictions imposed by the COVID-19 pandemic, there has been a healthy 3% rise in the demand for cosmetic treatments compared to 2019. This indicates a strong preference for improving one’s appearance and presents significant opportunities for the medical aesthetics market in the future.
Platelet-rich plasma (PRP) is a highly popular cosmetic injectable treatment within the global medical aesthetics market. It utilizes the patient’s own platelet-rich blood cells to naturally rejuvenate the skin and treat signs of aging. PRP has gained popularity in recent years due to its safety and ability to deliver rapid results. This procedure is commonly used for hair loss and skin rejuvenation, particularly in treating male pattern baldness. Dermatologists and plastic surgeons in high-income countries highly recommend PRP for improving skin appearance and overall health.
Advancements in medical aesthetics procedures are expected to contribute to significant market growth. The field of aesthetic dermatology, including innovations in botanical blends for hair care and skincare, has witnessed notable changes in recent years. These advancements have reduced side effects and paved the way for numerous procedures. Laser applications are widely adopted for treating vascular birthmarks, hemangioma, and other skin issues.
The demand for minimally invasive and non-invasive aesthetic procedures has seen a surge in recent years, appealing to all demographics. Non-invasive treatments, in particular, have become an accessible entry point for individuals, including men and young people who are highly conscious of their appearance. These procedures are favored by consumers due to their affordability, minimal downtime, and lower risk compared to invasive options.
The increasing per capita expenditure on personal care and cosmeceuticals, coupled with growing awareness of medical aesthetic solutions, has significantly driven market growth. In 2022, the Aesthetic Society reported a high market growth resulting from increased spending on aesthetic procedures. Approximately USD 9.3 billion was spent on aesthetic procedures in 2020, with around USD 3 billion allocated to non-invasive treatments and USD 6 billion to invasive procedures. This represents an 80% growth in expenditure compared to 2019 when approximately USD 8.2 billion was spent on aesthetic procedures.
Both the youth and aging populations are major users of medical aesthetics treatments. These treatments have evolved from anti-aging creams to approved cosmetic procedures. Currently, an increasing number of young individuals are turning to such procedures to prevent the signs of aging.
Medical tourism is also contributing to the surge in medical aesthetic procedures. Patients are traveling abroad for cosmetic surgery, driven by factors such as the globalization of medical services, the desire to display a healthy lifestyle, an emphasis on physical appearance, and the willingness to travel. This has given rise to a new segment in health tourism known as aesthetic medicine tourism.
The market is segmented based on various factors, including procedures, product, application, end user, and geography.
Segmentation by Procedures
Segmentation by Product
Body Contouring Devices
Laser & Energy Based Devices
Derma Filler & Neuromodulators
Microneedling & Chemical Peels
Segmentation by Application
Body Contouring & Cellulite Reduction
Skin Tightening & Skin Lighteners
Segmentation by End-Users
Hospital & Skin Clinics
Medical Spa & Beauty Centres
Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain
APAC – China, Japan, India, South Korea, Australia
Latin America – Brazil, Mexico, Argentina
Middle East & Africa – South Africa, Saudi Arabia, Turkey
The medical aesthetics market encompasses various procedures aimed at enhancing the physical appearance and satisfaction of patients. These procedures can be categorized as non-invasive or minimally invasive. In 2021, minimally invasive procedures accounted for the highest market share at 57.14%, while non-invasive procedures held a 42.86% market share. The popularity of minimally invasive and non-invasive aesthetic procedures is on the rise globally due to their advantages such as minimal surgical intervention, shorter recovery time, reduced pain, and higher safety and efficacy.
When considering product types in the global medical aesthetics market, body contouring devices dominate with a 27.38% market share. Other product segments include laser and energy-based devices, cosmetic implants, dermal fillers and neuromodulators, micro-needling and chemical peels, microdermabrasion, and others such as thread lifts and skin lighteners. The increasing number of minimally invasive procedures for fat reduction and body shaping drives the growth of the body contouring devices segment. Laser and energy-based devices follow closely behind with a 21.86% market share, indicating rapid industry growth.
In terms of applications, the key segments in the global medical aesthetics market are body contouring and cellulite reduction, skin tightening and resurfacing, facial aesthetics, breast augmentation, and others. Among these, the body contouring and cellulite reduction segment holds the largest market share at 30.58%. The growing demand for fat reduction, cellulite reduction, and liposuction procedures contributes to the growth of this segment. Additionally, skin tightening and resurfacing procedures have gained popularity in recent years and are expected to experience significant growth in the near future.
In the context of end-users, the global medical aesthetics market is categorized into hospitals and skin clinics, medical spas and beauty centers, and homecare. In 2021, hospitals and skin clinics dominated with a 55.24% market share. The increasing demand for minimally invasive and non-invasive procedures, coupled with growing awareness, drives more patients to visit hospitals and skin clinics for medical aesthetic treatments. These settings provide easily accessible and advanced treatment options, further fueling the growth of this segment.
North America currently holds the largest share in the global medical aesthetics market and is projected to grow at a CAGR of 12.52% during the forecast period. Factors driving market growth in this region include higher expenditure on medical aesthetic procedures, well-established healthcare infrastructure, and easy access to such procedures. Within North America, the United States is a key contributor to significant industry growth, with high demand for liposuction, breast augmentation, and tummy tuck procedures.
Among all regions, the Asia-Pacific (APAC) is expected to witness faster growth, with a CAGR of approximately 15% during the forecast period. This is attributed to factors such as a rising aging population, increased acceptance and demand for cosmetic surgeries, and higher expenditure on medical aesthetic procedures. Countries like Japan, China, India, South Korea, and Australia are experiencing significant improvements in access to medical aesthetic procedures, indicating promising market growth opportunities.
The global medical aesthetics market is characterized by intense competition and a dynamic environment, with numerous vendors at the international, regional, and local levels offering a wide range of medical aesthetic products, treatments, and devices to consumers. Prominent industry players such as AbbVie (Allergan), Sisram Medical, Cutera Inc., Lumenis Inc., Bausch & Lomb, and El En Spa consistently exert significant influence on the competitive landscape.
Geographically, many industry players are headquartered in the United States, Japan, Europe, and the Asia-Pacific (APAC) region. AbbVie, a key player based in the United States, holds a leading position in the medical aesthetics market, providing innovative and advanced solutions for addressing critical health issues. In 2021, AbbVie’s acquisition of Allergan, a major player in the medical aesthetics market, expanded their product portfolio. Additionally, AbbVie’s product category includes the highly sought-after and popular Botox, which further contributes to the industry’s fierce competition.
Key companies profiled in this report include AbbVie (Allergan), Bausch Health Companies, Candela, Cutera, Cynosure, EL.En. S.p.A., Galderma, Johnson & Johnson, Lumenis, Merz Pharma, Sientra, Sinclair, Sisram Medical, Aerolase, Aesthetics Biomedical, Asclepion Laser Technologies, Astanza Laser, Beijing Sanhe Beauty S & T Co., Beijing ADSS Development, Biolitec, Biotec Italia, BISON Medical, Bluecore Company, Brera Medical Technologies S.R.L., BTL Aesthetics, Cartessa Aesthetics, Dominion Aesthetic Technologies, Erchonia, ENDYMED, F Care Systems, Gigaalaser, GSD – Global Skin Dermatologist, InMode Aesthetic Solutions, Leaflife Technology, LINLINE Medical Systems, Lutronic, Lynton Lasers, MedArt ApS, Microaire Surgical Instruments, Medytox, Meyer-Haake, PhotoMedex, Revance Aesthetics, Sciton, ThermiGen, Venus Concept, Wavemed, Zimmer MedizinSysteme.
Key Questions Answered
What is the size of the global medical aesthetics market?
The global medical aesthetics market had a valuation of USD 21.05 billion in 2021 and is projected to reach USD 45.52 billion by 2027.
What is the growth rate of the global medical aesthetics market?
The global medical aesthetics market is anticipated to grow at a compound annual growth rate (CAGR) of 13.71% from 2022 to 2027.
What are the current trends in the global medical aesthetics market?
Some notable trends in the global medical aesthetics market include rapid advancements in the application of platelet-rich plasma (PRP) in medical aesthetics, continuous progress in the field of medical aesthetics, and the emergence of new medical aesthetic treatments and developments.
Who are the key players in the global medical aesthetics market?
Leading companies in the global medical aesthetics market include AbbVie (Allergan), Bausch Health Companies, Candela, Cutera, Cynosure, EL.En. S.p.A., Galderma, Johnson & Johnson, Lumenis, Merz Pharma, Sientra, Sinclair, and Sisram Medical.
Which region is expected to dominate the global medical aesthetics market share?
North America is projected to dominate the global medical aesthetics market, accounting for 45% of the revenue share. The region’s dominance is attributed to its high expenditure capacity for aesthetic procedures and a significant level of awareness among the population, which drives market growth in this region.