Medical Aesthetics Global Market Report 2024

Medical aesthetics encompass a range of medically guided cosmetic procedures, including laser treatments, wrinkle-reduction procedures, fillers, chemical peels, and hair transplants.

The main types of medical aesthetics comprise facial aesthetic products, body contouring devices, cosmetic implants, hair removal devices, skin aesthetic devices, tattoo removal devices, thread lift products, physician-dispensed cosmeceuticals, skin lighteners, physician-dispensed eyelash products, and nail treatment laser devices. Facial aesthetic products are designed to enhance an individual's appearance, using technologies such as invasive, non-invasive, minimally invasive, and others. These products are distributed through direct tender and retail channels, and they find applications in anti-aging and wrinkle reduction, facial and skin rejuvenation, breast enhancement, body shaping and cellulite reduction, tattoo removal, vascular lesion treatment, psoriasis, vitiligo, and other cosmetic procedures. Various users, including clinics, hospitals, medical spas, beauty centers, and individuals for home care, utilize these products and procedures.

The medical aesthetics market research report is one of a series of new reports that provides medical aesthetics market statistics, including medical aesthetics industry global market size, regional shares, competitors with a medical aesthetics market share, detailed medical aesthetics market segments, market trends and opportunities, and any further data you may need to thrive in the medical aesthetics industry. This medical aesthetics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The medical aesthetics market size has grown rapidly in recent years. It will grow from $11.5 billion in 2023 to $13.11 billion in 2024 at a compound annual growth rate (CAGR) of 14.0%. The expansion observed in the historical period can be attributed to various factors, including an increased aging population, growth in the cosmetic industry, rising consumer awareness, the phenomenon of medical tourism, and regulatory approvals for medical aesthetic procedures.

The medical aesthetics market size is expected to see rapid growth in the next few years. It will grow to $21.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The projected growth in the forecast period can be attributed to various factors, including the increasing popularity of minimally invasive procedures, the rise of virtual consultations, the trend towards personalized aesthetics, the demand for sustainability and eco-friendly products, and the influence of social media on consumer choices. Key trends expected in this period include the adoption of combination therapies, the emergence of regenerative aesthetics, the integration of artificial intelligence (AI) and machine learning in procedures, the use of virtual reality (VR) for pain management, and the development of ultrasound-based treatments. These trends reflect the evolving landscape of medical aesthetics, driven by technological advancements and changing consumer preferences.

The anticipated surge in the adoption of minimally invasive and non-invasive aesthetic procedures is set to drive the growth of the medical aesthetics market. Minimally invasive procedures involve medical professionals employing techniques to limit the size and quantity of incisions or injections. The increasing prevalence of these procedures in medical aesthetics is attributed to their attributes of being quick, safe, effective, minimally invasive, and requiring minimal downtime. For instance, as of January 2023, liposuction, a leading cosmetic surgical procedure, witnessed a substantial increase with over 1.9 million cases, marking a 24.8% surge, according to The International Society of Aesthetic Plastic Surgery. This underscores the growing adoption of minimally invasive and non-invasive aesthetic procedures as a significant driver for the medical aesthetics market.

The rapid expansion of medical tourism is poised to contribute to the growth of the medical aesthetics market. Medical tourism involves individuals traveling, often internationally, to access medical care and treatments. The growth in medical tourism is facilitating increased access to cost-effective and high-quality cosmetic procedures across different countries, broadening the spectrum of treatment options. For example, in 2023, Turkey witnessed a substantial rise in medical tourism, with 1,258,382 individuals seeking medical procedures, indicating an impressive 87.52% increase compared to the 670,730 visitors in 2021. Hence, the accelerated growth in medical tourism is a significant factor propelling the medical aesthetics market.

The adoption of robot-based surgery is emerging as a key trend in the medical aesthetics market, with major companies focusing on developing innovative technological solutions to fortify their market positions. For instance, in November 2021, Smith-Nephew, a UK-based manufacturing company in the medical aesthetics sector, introduced CORI, a robotic surgical tool for use in total and partial knee arthroplasties. CORI represents a groundbreaking handheld robotic solution that places the surgeon in the digital operating room. It integrates an advanced robotic sculpting tool with a 3-D intraoperative imaging system, providing patients with less painful treatment, reduced revisions, and enhanced post-surgery satisfaction.

Major companies operating in the medical aesthetics market are intensifying their efforts to introduce cutting-edge skin lasers like the Clear + Brilliant Touch Laser, aiming to gain a competitive advantage. The Clear + Brilliant Touch Laser is a next-generation laser system that offers a customized and comprehensive treatment protocol for patients of all ages and skin types. For instance, in September 2022, Solta Medical International Inc., a US-based medical aesthetics company, launched the Clear + Brilliant Touch laser in the US, providing a fractional treatment creating microscopic treatment zones in the upper layers of the skin to replace damaged skin with new, healthy-looking tissue.

In May 2022, Crown Laboratories, a US-based global skincare company, completed the acquisition of Eclipse Med Corp. LLC for an undisclosed amount. This strategic acquisition aims to expand Crown's aesthetics portfolio and overall value proposition globally, aligning with its mission to drive innovation and deliver superior products and services to customers. Eclipse Med Corp. LLC is a US-based company operating in the field of medical aesthetics.

Major companies operating in the medical aesthetics market include AbbVie Inc., Medytox Inc., Galderma S.A., Alma Lasers Ltd., Merz Pharma GmbH & Co. KGaA, Cynosure LLC, Fotona d.o.o., Anika Therapeutics Inc., Johnson & Johnson Pvt. Ltd., Cutera Inc., Solta Medical LLC, Quanta System SpA, Sisram Medical Ltd., SharpLight Technologies Inc., Revance Therapeutics Inc., Solta Medical Inc., Lumenis Inc., Candela Corporation, Asclepion Laser Technologies GmbH, Lumenis Ltd., Mentor Worldwide LLC, Sientra Inc., Sciton Inc., Sinclair Pharma, Syneron Medical Ltd., ThermiGen LLC, Venus Concept Inc., Zimmer Biomet Holdings Inc., Allergan PLC, BioForm Medical Inc., EndyMed Medical Ltd., Invasix Aesthetic Solutions Inc., Lutronic Corporation

North America will be the largest region in the medical aesthetics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this medical aesthetics market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the medical aesthetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The medical aesthetics market consists of sales of body contouring devices, skin aesthetic devices, thread lift products, tattoo removal devices, and hair removal devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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