by The global Aesthetic Medicine Market is estimated to be valued at US$ 147.9 Bn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Aesthetic medicine involves surgical and non-surgical treatments that enhance and reshape structures of the body to improve appearances and boost self-confidence. Products used include injectable such as Botox, calcium hydroxylapatite, hyaluronic acid; non-surgical energy-based treatments; and laser-based & light-based treatments.
Market key trends:
The increased emphasis on physical appearance along with rising acceptance of aesthetic procedures among people are driving the aesthetic medicine market growth. As physical attractiveness is highly valued in modern societies, people are opting for surgical and non-surgical aesthetic procedures to look younger, curvier, and more attractive. A growing middle-class population worldwide with higher disposable incomes has opened up opportunities for cosmetic treatments. Easy access to information via social media have normalized aesthetic treatments which is contributing further to the market demand.
SWOT Analysis
Strength: Aesthetic medicine offers non-invasive and minimally invasive procedures that help enhance physical appearance. They require minimal downtime and recovery.
Weakness: High cost of treatments and devices may limit their adoption. Strict regulations and safety standards around new products may delay market entry.
Opportunity: Rising beauty consciousness and need for anti-aging treatments drives the demand. Untapped potential in developing markets provides new opportunities for market expansion.
Threats: alternatiave like surgeries and natural remedies limits the market scope. Stringent regulations around newer products and technologies poses challenges.
Key Takeaways
The Global Aesthetic Medicine Market Size is expected to witness high growth, exhibiting 14% CAGR over the forecast period, due to increasing beauty consciousness and need for anti-aging treatments worldwide.
Regional analysis: North America dominated the global aesthetic medicine market in 2022 due to growing medical tourism and advanced healthcare infrastructure in the region. Asia Pacific is expected to be the fastest growing market owing to rising standard of living, consciousness about physical appearance, and growing medical tourism in countries like China, India, and South Korea.
Key players operating in the Aesthetic Medicine market are Alma Laser, Hologic, Inc. (Cynosure), Abbvie (Allergan), Solta Medical, Candela Medical, Merz Pharma GMBH, Revance Therapeutics Inc., Lumenis, Galderma Pharmaceuticals S.A., and Johnson & Johnson Services, Inc., among others. These players are focusing on new product launches, mergers, collaborations and geographic expansions to increase revenues and market shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
