Aesthetic Medicine Market to Expand at 14.5% CAGR During the Forecast Period 2023-2030

Posted on 2023-04-05 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Apr 05, 2023 — /EPR Network/ —

Aesthetic Medicine Industry Overview

The global Aesthetic Medicine Market size is expected to reach USD 332.1 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 14.5% from 2022 to 2030. According to the International Association for Physicians in Aesthetic Medicine (IAPAM), aesthetic medicine is a branch of medicine focused on satisfying the aesthetic desires and goals of patients. The major aim of aesthetic medicine is to improve the physical appearance of the patient. Some key drivers of the market include the introduction of innovative aesthetic devices such as non-invasive aesthetic devices, a growing focus on physical appearance, and a rise in adoption among geriatric individuals.

Aesthetic medicine mainly includes invasive and non-invasive procedures. Invasive procedures include breast augmentation, liposuction, and nose reshaping while non-invasive procedures include popular technology such as Botox injections, soft tissue fillers, and chemical peel. The rise in the number of obesity cases in the U.S. has urged patients to opt for aesthetic treatments in the country. In the Asia Pacific region, the rise in the income level of the adult population in countries, such as China and India, is expected to create lucrative growth opportunities for the market. The region is also backed by South Korea, which is the hub of cosmetic surgeries.

The growing urge to look young and fit has increased the demand for aesthetic treatment in developing countries. Aesthetic procedures such as liposuction, nose reshaping, and Botox injections are gaining consumer interest in countries such as India and South Korea. Adults are paying attention to their physical appearance closely. This has increased the demand for cosmetic surgeries, with Botox being one of the most popular procedures preferred.

Aesthetic Medicine Market Segmentation

Grand View Research has segmented the global aesthetic medicine market on the basis of procedure type, gender, end-User and region:

Based on the Procedure Type Insights, the market is segmented into Invasive Procedures and Non-invasive Procedures.

The non-invasive procedures segment dominated the market in 2021 with a share of over 50.0%. The segment is also expected to expand at the fastest CAGR over the forecast period.
The product is found to be effective in reducing wrinkles. Invasive procedures such as liposuction, breast augmentation, and nose reshaping are some of the popular aesthetic procedures. Growing focus on physical appearance has increased the demand for these invasive procedures.

Based on the Gender Insights, the market is segmented into Male and Female.

Based on the End-User Insights, the market is segmented into Clinics, Hospitals, and Medical Spas, Beauty Centers and Home Care.

Aesthetic Medicine Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

The market for aesthetic medicine is highly fragmented with many local players competing with international players. However, a strict regulatory approval process is challenging the entry of new products into the market. Primary parameters affecting the competition are the rapid adoption of advanced devices for improved treatment and technological advancement. Leading players have adopted mergers & acquisitions as one of the key strategies to retain market share.

Some prominent players in the global Aesthetic Medicine market include

AbbVie
Cynosure
Evolus Inc.
Revance Galderma
Lumenis
Solta Medical
Syneron Candela
Alma Laser

Order a free sample PDF of the Aesthetic Medicine Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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