The Global Medical Aesthetics Market Size Was Valued At USD 18.46 Billion In 2021. The Market Is Projected To Grow From USD 20.54 Billion In 2022 To USD 45.91 Billion By 2030, Exhibiting A CAGR Of 12.2% During The Forecast Period.

Medical Aesthetics Market Overview:

The global COVID-19 pandemic has been unprecedented and shocking. As a result, demand for medical aesthetics has been lower than expected in all regions compared to levels before the pandemic. Based on our research, the global market was 18.0% smaller in 2020 than it was in 2019.

Over the past few years, the number of cosmetic procedures done around the world has slowly been going up. The increase is because most people are choosing minimally invasive and non-invasive procedures like botulinum toxin and dermal fillers because of the benefits they offer. Some of the benefits include fewer side effects, shorter recovery times, and painless procedures.

According to data released by the Aesthetic Society in 2021, the number of non-surgical procedures in the U.S. rose by 44.0% in 2021 compared to the year before.

Also, more and more men are getting plastic surgery and doing other things to make themselves look better. Demand for procedures that don't use energy, like dermal fillers and botulinum toxin, also contributes to the overall rise in the number of procedures done. As these things get better and more people of both sexes get cosmetic procedures, the overall demand for medical aesthetics is going up.

As the number of people who want medical aesthetics keeps going up, many companies in the field are investing in research and development to come up with new products with more advanced technology. Most of the new developments are aimed at making minimally invasive and non-invasive procedures painless. Also, companies are working hard to get approvals for their products from places like the U.S., Canada, and Europe. This is another factor driving the market for aesthetic devices. The market is also growing because people in developing countries like India, China, and Brazil have more money to spend and there are more products that can be made at home.

Pollogen's TriPollar Stop, which uses radiofrequency technology to treat the face and neck to get rid of wrinkles and smooth out the skin, was approved by the U.S. Food and Drug Administration (FDA) in August 2019. This device was tested in a U.S. hospital before it could be used at home.

Market Dynamics:

Latest Trends:

Patients are now more likely to choose non-invasive procedures like botulinum toxin, dermal fillers, and chemical peels over surgical procedures. Non-surgical treatments are becoming more popular because they have benefits like fewer side effects, less time to heal, and faster results.

Over the past few years, more people have been getting facial aesthetics to make themselves look better. This has caused more people to want dermal filler procedures to fix wrinkles, acne scars, and other things. Key players in the industry are also putting money into research and development (R&D) to come up with new fillers to meet the growing demand for dermal fillers on the market.

Merz Pharma said that BELOTERO BALANCE + Lidocaine would come out in the U.S. in February 2021. BELOTERO BALANCE is a dermal filler for deep lines, and the fact that it is made with lidocaine gives filler patients a perfect finish.

But more and more men, especially those over 50, are getting procedures like botulinum toxin to look better and younger. This is driving up the demand for these procedures in the market.

According to information released by the International Society of Aesthetic Plastic Surgery in 2020, around 905,958 botulinum toxin procedures are done on men around the world every year.

So, the demand for dermal fillers and botulinum toxin-based treatment is going up because these procedures are becoming more popular and there are more advanced products on the market.

Driving Factors:

In many countries, skin conditions like acne, psoriasis, skin cancer, and others are becoming more common among the general population. Because so many people have serious skin problems that need to be treated, the market is seeing a rise in demand for cutting-edge solutions.

According to information released by the British Skin Foundation in 2020, almost 60% of people in the U.K. have some kind of skin condition.

But the fact that there are products you can use at home is making more people want to treat skin problems at home. Manufacturers are putting a lot of effort into developing and releasing new technologies that can be used at home, like LED and radiofrequency-based devices. As a result, more and more people are using devices that can be used at home.

LightStim released Elipsa in July 2022. It was the first device to use LED technology to treat both acne and wrinkles at the same time. People use this machine at home.

The growth of the market is also being driven by the above-mentioned factors and the rate at which patients buy and use new products to get treatment and use at home.

Restraining Factors:

The growth of the medical aesthetics market will be slowed by the high cost of devices.

Different market players are focusing on making new devices to meet the growing demand for beauty around the world. This is driving up the prices of devices on the market.

For example, according to data published by Medicreations in 2021, the average cost of a new cosmetic device can be between USD 120,000 and USD 300,000.

Also, the high costs of procedures like breast augmentation, abdominoplasty, and liposuction, as well as the lack of reimbursement policies for these procedures, keep most people from getting cosmetic procedures.

Also, treatments that don't involve surgery usually only last one or two years. Botulinum toxin treatment, for example, needs to be done again every 4 to 6 months. Because of this, procedures that don't involve surgery are becoming less cost-effective. Also, hyaluronic acid fillers like Juvederm Ultra, Juvederm Ultra Plus, Perlane, Restylane, and Belotero cost about USD 652, and fat grafting costs about USD 2,163.

So, the lack of reimbursement policies, the high costs, and the different risks of the treatment are all slowing down the growth of the market.

Segmentation Analysis:

By Type Analysis:

The market is made up of devices that use energy, devices that don't use energy, and other devices.

In 2021, non-energy-based devices made up the largest part of the global market. In recent years, more people have been getting dermal fillers and chemical peels, among other procedures, because they have many benefits. The segment is also growing because manufacturers are putting more effort into making new products and getting product approvals to meet the growing demand for these non-surgical procedures.

In September 2022, the Saudi Food and Drug Authority gave Sientra Inc. permission to sell gel breast implants made with silicone, which are the most popular type of implant with customers, in Saudi Arabia.

Also, more and more people around the world are getting botulinum toxin, dermal fillers, and hair removal treatments, which is driving up the demand for aesthetic devices that don't use energy.

On the other hand, the energy-based devices segment is expected to have a high CAGR during the forecast period. This is because new products with advanced technologies like ultrasound, radiofrequency, and others will be coming out during this time. For instance, Sisram Medical Ltd. released Alma PrimeX in April 2021. It uses ultrasound and radiofrequency technologies. The device is used to tighten the skin and reduce the size of the abdomen, waist, thighs, and buttocks.

By Application Analysis:

The market has been split into skin resurfacing and tightening, body contouring and cellulite reduction, hair and tattoo removal, breast augmentation, and other uses.

In 2021, the market share for skin resurfacing and tightening was the largest. There are a lot of people who need to treat skin problems like acne scars, fine lines and wrinkles, sagging skin, and others. This is driving up the demand for treatments for these problems. The segment is growing because more and more patients want technological improvements in skin resurfacing procedures and because different government agencies are giving their approval for the launch of new, advanced devices.

In May 2022, Apyx Medical announced that it had 510(k) clearance from the U.S. FDA to use the Renuvion Dermal Handpiece for certain dermal resurfacing procedures. The Renuvion Dermal Handpiece is made to treat wrinkles and lines that are moderate to severe.

During the forecast period, the hair and tattoo removal segment is expected to grow. This is because more people are becoming aware of hair removal procedures and there is a high demand for advanced technologies. For example, Cynosure announced in June 2020 that the Elite iQ platform would be available on the European market. Elite iQ platform offers personalised laser hair removal treatments that permanently get rid of unwanted hair on all skin types, anywhere on the body.

By End-user Analysis:

The market is divided into hospitals, specialty clinics, and other groups based on who will use the products.

In 2021, the largest market share went to the specialty clinics segment. This segment is growing because there is a growing need for minimally invasive procedures and more people are going to specialty clinics instead of hospitals. Also, the growth of the segment is helped by the fact that more and more specialty clinics in different countries offer cosmetic procedures.

According to information released by PolicyBee Ltd. in 2022, there are currently about 950 medical aesthetics clinics in the U.K.

On the other hand, it is expected that the hospitals segment will have a high CAGR from 2022 to 2029. The main reason for the growth is the rise in procedures, especially breast procedures and other surgeries, which are mostly done in hospitals.

According to information from the International Society of Aesthetic Plastic Surgery (ISAPS), around 0.9 million cosmetic procedures will be done in U.S. hospitals in 2020.

Regional Insights:

In 2021, the size of the medical aesthetics market in North America was worth USD 9.53 billion. This is because of how popular cosmetic procedures are getting and how many surgical and non-surgical procedures are being done in the U.S. The market is also growing because there are more and more clinics in the area and there are more and more highly qualified plastic surgeons who do different procedures related to medical aesthetics.

In 2020, the International Society of Aesthetic Plastic Surgery (ISAPS) said that there were about 7,000 plastic surgeons in the United States.

Asia-Pacific was the second largest market in the world. The Asia-Pacific market is growing because of the demand for dermal fillers and botulinum toxin treatments in countries like India, Japan, and Thailand, as well as the high demand for facial aesthetic procedures in countries like China, South Korea, and others.

According to the International Society of Aesthetic Plastic Surgery (ISAPS), the number of botulinum toxin procedures in Thailand rose by 57.4% from 23,323 in 2019 to 36,721 in 2020.

During the forecast period, Europe is expected to have a high CAGR. Europe's market is growing because there are more and more non-invasive procedures and more and more people are travelling from other countries to Spain, Germany, and the U.K. for medical procedures. According to the International Society of Aesthetic Plastic Surgery (ISAPS), around 14.8% of people who went to Spain for medical aesthetics in 2020 came from other countries.

On the other hand, Latin America and the Middle East and Africa are expected to grow at a faster rate during the forecast period. This is because countries like Dubai and Saudi Arabia are opening more aesthetic clinics to meet the growing demand for cosmetic procedures like botulinum toxin, dermal fillers, and breast augmentation.

For example, the NCBI reported in 2021 that Dubai has 236 licenced plastic surgeons and 400 aesthetic clinics and is known as the plastic surgery hub.

Also, the growing demand for medical tourism in countries like Brazil, Mexico, and others, as well as the high number of plastic surgeons and the growing number of advanced technologies in healthcare infrastructure, will cause the market to grow in these areas over the next few years.

For example, according to information from the International Society of Aesthetic Plastic Surgery (ISAPS), Brazil had about 5,843 plastic surgeons in 2020, making it the second most popular country after the U.S.

Scope Analysis

Recent Development:

• July 2022 – Apyx Medical announces that the Renuvion device has been approved by the US Food and Drug Administration (FDA) for use in cosmetic procedures to improve loose skin in the neck area.
• March 2021 – Bausch Health Companies Inc. launched the Clear + Brilliant Touch laser in the United States. The Clear + Brilliant Touch laser provides personalized treatment for patients of all ages and skin types.
• January 2021 – Johnson and Johnson Services Inc. Mentor Worldwide LLC, a company, has received US FDA approval for the MENTOR MemoryGel BOOST breast implant in breast augmentation in women 22 years of age and older undergoing breast reconstruction.
• April 2019 – Merz Pharma announces the new launch of Belotero Revival Dermal Filler. This product contains a combination of hyaluronic acid (HA) and glycerol to improve skin hydration, reduce redness of the skin and reduce the appearance of fine lines.
• June 2019 – AbbVie Inc. received FDA approval for the CoolTone device, which is used to strengthen, tone and tone muscles using magnetic muscle stimulation technology. Additionally, growing interest in technologies combined in one device is further fueling the segment growth.

Market Segmentation

By Type:

• Energy-based Devices
  • Laser-based Devices
  • Radiofrequency-based Devices
  • Light-based Devices
  • Ultrasound Devices
• Non-energy-based Devices
  • Botulinum Toxin
  • Dermal Fillers
  • Microdermabrasion
  • Implants
    • Dental Implants
    • Breast Implants
    • Other Implants
  • Others

By Application:

• Skin Resurfacing & Tightening
• Body Contouring and Cellulite Reduction
• Hair and Tattoo Removal
• Breast Augmentation
• Others

By End-user:

• Hospitals
• Specialty Clinics
• Others

By Companies:

• Sisram Medical Ltd (Israel)
• Merz Pharma (Germany)
• Apyx Medical (U.S.)
• AbbVie Inc. (U.S.)
• 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.)
• Others