The Global Medical Aesthetic Market was valued at USD 9.5 Bn in 2020 is expected to reach USD 18 Bn by 2027, with a growing CAGR of 10 % during the forecast period.
The medical aesthetic is a broad term that focus on altering or rectifying the skin abnormalities such as wrinkles, scars, patches, pigmentation etc through cosmetic treatment. This includes dermatology, oral & maxillofacial surgery, reconstruction surgery, plastic surgery, etc.
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Medical Aesthetic Market Dynamics
The driving factors for the global medical aesthetic market include an increase in applications of aesthetics in breast-related abnormalities and growing government initiatives & campaigns for spreading awareness regarding medical aesthetics. Besides, growing aging-related skin and hairs problems such as wrinkles, skin pigmentations, dull skin fuels the growth of the medical aesthetic industry. The advantage that medical aesthetics offer is, it eliminates the use of surgery completely that demands a huge healing time and the aesthetic procedures are independent of age group I.e., people of lower age can also go for medical aesthetic procedures where normal aesthetics are not recommended. These factors favor the growth of ecosystems across the globe. On the contrary, inflated treatment costs and the presence of social stigma hinder the growth of the medical aesthetic industry.
Medical Aesthetic Market Segmentation:
Company Profiles and Competitive Intelligence
The key players operating in the medical aesthetic market are:
Based on product, the non-invasive products segment accounted for the highest revenue share in 2020 and is expected to increase more during the forecast period owing to increase in popularity of less painful therapy
Based on products, the medical aesthetic market is broadly segmented into non-invasive and invasive products. Non-invasive products include dermal fillers, chemical peels, botulinum toxin, and Microdermabrasion. Non-invasive products are expected to dominate the market due to an increase in demand for beautification or plastic surgeries. Increase in demand for minimally invasive therapy with instantly visible results fuels the growth of the medical aesthetic industry. Parameters such as low treatment cost, less time-consuming, and easily available boost the growth of the non-invasive product segment in the market. The most popular non-invasive products include Botox injections, chemical peel and soft tissue fillers. For instance, in August 2020, MedTech giant Lumenis, an Israeli based start-up company launched non-invasive aesthetic body treatment that would allow physicians or staff members to provide personalized modifications into the system based on individual body type. The technology is named as ‘NuEra Tight with FocalRF technology’. Such emergence of technologies is expected to uplift the growth of non-invasive system in medical aesthetic market.
Based on end user, hospital & clinics segment held largest market share in market in 2020 due to presence of large volume of cosmetic clinics and increased number of hospital admissions for aesthetic therapy
Based on end user, medical aesthetic market is segmented into hospital& clinics, beauty centers, and home care. Hospitals & clinic is expected to hold the maximum market share during forecast period owing to increase in number of admissions for plastic surgeries, adaption of spas & clinic and presence of medical infrastructure at one place. Moreover, technological advances in medical devices and availability of trained staff & professionals drives the growth of this segment in this ecosystem.
Based on geographical region, North America accounted for the highest market share in 2020 due to the presence of large volume of aging population and related skin abnormalities
Based on region, North America held the highest market share in 2020 due to the presence of key market players. Moreover, availability of skilled professionals, rising number of clinics & spa and increase in the prevalence of skin/hairs disorders fuels the growth of medical aesthetic market. According to American Society of Plastic Surgeons, the significant increase in growth rate of cosmetic surgery has been observed in 2020. More than $17 Bn was spent on cosmetic surgery in U.S. This shows the increased spending of the American population on cosmetic/plastic surgeries. The application of medical aesthetics for breast augmentation procedures increased by 50% and Botox injections increased by 80%. Thus, North America is a key sales generator in the market during forecast period.
The report also provides in-depth analysis of medical aesthetic market dynamics such as drivers, restraints, opportunities and challenges
Drivers
Restraints
Opportunities
Challenges
COVID-19 Impact on the Medical Aesthetic Market Analysis
Covid-19 has negatively impacted the growth of medical aesthetic industry. Initially, due to strict government guidelines for social distancing and lockdown, number of patients adapting for medical aesthetics procedures significantly decreased. As this would increases the chances of transferring infection form one person to other. Moreover, due to sudden outbreak, there was sharp cut in individual income and public spending's. During covid-19 outbreak, priority was given to the virus infected patients. Lack of availability of professional staff, trained nurses affected the growth of the market. sudden decline in supply chain, lack of raw material availability, limited operations, closure of beauty centers due to lockdown pulled down the growth of medical aesthetic industry. However, the minimum consultancy was carried out using virtual mode to avoid direct contact with patients. Moreover, rising attention towards personal beautification & appearance and the increasing population opting for cosmetic surgeries triggered the growth of the medical aesthetic industry.
The report also provides an in-depth analysis of key trends in the medical aesthetic market
| Sr. No. | Trends | Impact |
| 1 | Gaining importance and applications of dermal fillers in non-invasive medical aesthetics | Positive |
| 2 | The emergence of intense pulsed light treatments for minimally invasive procedures | Positive |
The report also provides an in-depth analysis of recent news developments and investments
The unique insights provided by this report also includes the following:
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