The overall medical aesthetics market is estimated to reach a peak of $34.6 billion in 2023, boosted by growing preferences for aesthetic appearance. According to a recent report by Roots Analysis, a significant paradigm shift in beauty standards and increasing demands for medical aesthetic solutions to achieve youthful skin is expected to drive the market at a compound annual growth rate (CAGR) of 9.4% between 2023 and 2035.
Medical aesthetics refers to the form of cosmetic treatment that helps to improve an individual’s appearance. These solutions help treat conditions like acne, dark spots, uneven skin, sun spots, unwanted hair, and more. In addition, medical aesthetic treatments are widely used for anti-aging purposes to reduce fine lines and wrinkles and promote skin rejuvenation. Various medical professionals also use medical aesthetic procedures to reduce excess cellulite, fat and spider veins, significantly improving the appearance of the skin. Due to increasing social media hype and endorsement by celebrities promoting the benefits of a youthful appearance, the medical aesthetics market is expected to witness significant growth during the forecast period.
Top Medical Aesthetics Market Statistics 2024-2035
Below are some of the most popular medical aesthetics market statistics from research conducted by Roots Analysis:
- How big is the medical aesthetics market: According to Roots Analysis, the medical aesthetics market is expected to reach $102.2 billion by 2035.
- Statistics of medical aesthetic procedures: In 2022, more than 30 million aesthetic procedures were performed on various individuals around the world.
- Medical aesthetics market regional statistics: North America dominates the market and will account for 48.4% of the total revenue in 2023. The medical aesthetics market in Asia Pacific is expected to grow at a CAGR of 11.52% between 2023 and 2035.
- Statistics of medical aesthetics companies: Currently, more than 205 medical aesthetic companies are involved in the development of medical aesthetic solutions in the industry. Additionally, approximately 90% of these solutions address skin conditions such as acne, wrinkles, and pigmentation.
- Financing statistics: More than 3.6 billion USD has been invested in recent years.
5 main growth drivers of the medical aesthetics market
The growing trend of youthful appearance and social media-fueled hype has increased the demand for medical aesthetic solutions. Listed below are some examples of the key factors that have fueled the growth of the medical aesthetics market.
- Aging population: Due to the aging of the growing population worldwide, the need for aesthetic procedures to achieve youthful and radiant skin has increased. As people age, signs of skin aging such as dark spots, sagging and wrinkles make the skin visibly dull. The aging population is looking for aesthetic solutions to improve their aesthetic appearance and revitalize their skin. The superficial goal of achieving perfect skin has emerged as a fundamental growth factor driving the market over the forecast period.
- Increasing disposable income: Higher disposable income has become a significant growth factor for the medical aesthetics market in a number of ways. Increasing disposable income has made various aesthetic treatments available to a wide range of the population to fulfill their dream of youthful skin. And the medical aesthetics market offers diverse treatment options to its varied clientele, which is expected to drive the market during the forecast period.
- Growing awareness of beauty standards: The social perception of beauty is evolving all over the world, and this is leading to an increase in the desire to achieve long-lasting youth. Amplified hype by celebrities, social media influencers and medical professionals has led to a surge in demand for medical aesthetic solutions.
- Growing demand for non-invasive/minimally invasive procedures: The growing preference for non-invasive or minimally invasive procedures has received considerable attention in the past few years. Additionally, patients prefer less invasive aesthetic treatments that require minimal downtime and less risk compared to other treatment options. With the growing demand for non-invasive aesthetic treatment options, key players are stepping up their R&D activities to develop advanced non-invasive procedures that meet consumer demands.
- Technological developments: Ongoing technological advancement is one of the primary market drivers that will accelerate growth in this area. In order to meet the growing consumer demands, many researchers active in the field are constantly expanding cutting-edge technologies, such as laser therapies, advanced imaging techniques and non-invasive procedures. Technological developments aim at a safer and less invasive treatment approach to achieve an aesthetic appearance.
The best players in the medical aesthetic market
Leading companies active in the medical aesthetics market include Allergan Aesthetics, BTL Aesthetics, Candela Medical, Classys, Lumenis, Lutronic, MedicalZone, Sinclair Pharma, Sincoheren, Skin Tech Pharma, Wontech and Zesay Beauty.
Conclusion
Overall, it can be said that the future of the medical aesthetics market is promising, and thanks to the increasing awareness of the benefits of aesthetic treatment, the field shows continuous growth. In the near future, players in the medical aesthetics market will focus on integrating advanced technology, including artificial intelligence, to offer effective aesthetic solutions. Additionally, increasing support from regulatory authorities such as the FDA for the development of aesthetic procedures has contributed to the growth of the market. As the medical aesthetics industry continues to evolve, it is expected that companies will focus on personalized aesthetic solutions that align with the standard beauty goals of individuals.
For more information, read the full Medical Aesthetics Market report, which details unique market dynamics, provides insights into the historical period (2022-2023), and forecasts trends to 2024-2035.
About the author
Nancy Kapila is an excellent pharmaceutical consultant with rich and varied experience for more than five years. Throughout her career, Nancy’s expertise in providing valuable insight and strategic guidance has helped clients make informed, data-driven decisions. What sets Nancy apart is her unwavering commitment to staying at the forefront of the ever-evolving pharmaceutical world.
About Roots Analysis
Roots Analysis is a world leader in pharmaceutical and biotechnology market research. For more than a decade, working with over 750 clients worldwide, including Fortune 500 companies, startups, academia, venture capitalists and strategic investors, Roots Analysis brings a highly analytical and data-driven perspective to a network of over 450,000 industry leaders . stakeholders looking for authentic market insights. All reports published by the company are structured in such a way that the reader develops a thorough perspective on the given topic.