PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1355815
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1355815
The medical aesthetics market is projected to reach USD 25.9 billion by 2028 from USD 15.4 billion in 2023, at a CAGR of 11.0% from 2023 to 2028. The growth of the medical aesthetics market is significantly influenced by the robust demand for procedures like liposuction and hair transplantation. This demand is chiefly propelled by two key factors: the rising prevalence of obesity and an aging population. As obesity rates continue to climb, there is an increasing need for body contouring solutions like liposuction. Simultaneously, the aging demographic seeks hair transplantation to combat hair loss, further bolstering market expansion. These factors highlight the sustained appeal of medical aesthetic treatments in addressing cosmetic and age-related concerns, driving market growth.
Scope of the Report | |
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Years Considered for the Study | 2021-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Units Considered | USD |
Segments | Product, Procedure, End User, Region |
Regions covered | North America, Europe, APAC, LATAM, MEA |
"The facial aesthetic products segment held the largest share of the market in 2023."
Based on product, the medical aesthetics market is segmented into facial aesthetic products, cosmetics implants, skin aesthetic devices, body contouring devices, physician-dispensed cosmeceuticals, skin lighteners, thread lift products, hair removal devices, tattoo removal devices, physician-dispensed eyelash products, and nail treatment laser devices. The facial aesthetic products segment held the largest market share in 2023. The market is expected to experience growth due to an increasing demand for aesthetic procedures conducted in home settings.
"The lipolysis segment is projected to register the highest CAGR of the non-surgical procedures by procedure during the forecast period."
Based on procedure, the medical aesthetics market is segmented into surgical procedures - breast augmentation, rhinoplasty, facelift and body lift, and other surgical procedures; non-surgical procedures - anti-aging and skin rejuvenation, tattoo and scar removal, hair removal, lipolysis, other non-surgical procedures. The lipolysis segment is projected to register the highest CAGR of the non-surgical procedures market from 2023 to 2028. The rising expenditure by consumers on pharmaceuticals related to cosmetics.
"The market in the Asia Pacific region is expected to witness the highest growth during the forecast period."
The medical aesthetics market in the APAC region is expected to register the highest CAGR during the forecast period, primarily due to evolving healthcare infrastructure and the increasing focus of major players in the region. The healthcare infrastructure in emerging economies, such as India and China, is evolving at a rapid pace, leading to major investments in advanced aesthetics systems by clinics, hospitals, and medical spas. These factors are anticipated to fuel the growth of the medical aesthetics market in this region.
The prominent players in the medical aesthetics market are AbbVie Inc. (US), Bausch Health Companies Inc. (Canada & Johnson (US), and others.
Research Coverage
This report studies the medical aesthetics market based on product, procedure, end user, and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their growth trends and forecasts the revenue of the market segments with respect to three main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall medical aesthetics market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse and provides information on key market drivers, restraints, challenges, and opportunities.