Medical Aesthetics Market to Grow by USD 18.8 Billion (2024-2028) with Rising Awareness, Report on AI Impact on Market Trends - Technavio

NEW YORK, Nov. 26, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global medical aesthetics market size is estimated to grow by USD 18.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.52% during the forecast period. Increasing global awareness about medical aesthetics is driving market growth, with a trend towards advances in technology. However, high cost of treatments poses a challenge. Key market players include 3M Co., AbbVie Inc., Adin Dental Implant Systems Ltd., Anika Therapeutics Inc., Bausch Health Companies Inc., BioHorizons Inc., Boston Scientific Corp., Candela Corp., Cutera Inc., Danaher Corp., Dentsply Sirona Inc., Galderma SA, Hologic Inc., Huadong Medicine Co. Ltd., Johnson and Johnson Services Inc., Merz Pharma GmbH and Co KGaA, Shanghai Fosun Pharmaceutical Group Co. Ltd., Sientra Inc., Venus Concept Inc., and Zimmer Biomet Holdings Inc..

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Market Driver

The Medical Aesthetics Market is experiencing an upward trajectory with a focus on advanced systems and innovative devices. Trending procedures include Abdominoplasty, breast augmentation, and eyelid surgery. Advanced body contouring devices, such as liposuction and fat reduction technology, are in high demand. Non-surgical options like Botox injections, dermal fillers, and chemical peels continue to gain popularity for instant results. Automated systems and minimally invasive devices, like laser therapy and microdermabrasion, offer safe and effective solutions for skin resurfacing and cellulite reduction. Cultural norms drive the demand for cosmetic interventions, with breast implants and nose reshaping among the most requested procedures. Safety standards are paramount, ensuring patient workflows run smoothly and pain is minimized. The market caters to various needs, offering a range of aesthetic fillers, implants, and cosmetic solutions, from over-the-counter options to physician-dispensed cosmeceuticals and eyelash products. Reveal Lasers and other skin aesthetic devices, as well as tattoo removal devices, further expand the market's offerings. Overall, the Medical Aesthetics Market is dedicated to providing personal aesthetic enhancement through a variety of invasive and non-invasive procedures, surgical approaches, and cosmetic implants. 

Since the late 1990s, medical aesthetics has seen significant growth due to advancements in laser-based technologies. These innovations include transdermal focused ultrasound, low-level laser, high-intensity focused ultrasound, and monopolar radiofrequency, which have gained popularity as non-invasive methods for fat reduction. Lumenis, a leading company in this field, introduced various medical aesthetic technologies, such as Intense Pulsed Light and CO2 Laser Skin Resurfacing systems. In developed countries, these treatments have become standard health management procedures. Recent advances in laser technologies have resulted in the generation of high-efficiency beams for medical use, further expanding the possibilities in medical aesthetics. 

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Market Challenges

• The Medical Aesthetics Market is experiencing an upward trajectory with a growing demand for cosmetic interventions. Challenges include advanced systems for procedures like Abdominoplasty and Breast Augmentation using aesthetic devices, fillers, and implants. Automated systems and non-invasive procedures such as Botox injections, chemical peels, and laser therapy, offer instant results with minimal pain. Cultural norms drive the market for cosmetic solutions like breast cancer reconstruction, eyelid surgery, and nose reshaping. Safety standards are crucial for invasive procedures like liposuction and surgical approaches. The market caters to various patient workflows with over-the-counter options, physician-dispensed cosmeceuticals, and eyelash products. Minimally invasive devices like microdermabrasion devices, microneedling devices, and tattoo removal devices, are increasingly popular. Market leaders include Reveal Lasers, focusing on skin aesthetic devices and skin lighteners. Disease detection and skin resurfacing, tightening, and lightening are key areas of innovation. Soft tissue fillers and thread lift products continue to gain traction. Overall, the market offers a range of cosmetic solutions to meet diverse personal aesthetic enhancement needs.
• The medical aesthetics market is experiencing significant interest from consumers, with many opting for various procedures to enhance their appearance. However, the high cost of these treatments is a major barrier to entry for middle and lower-middle-income groups, particularly in developing countries. The expenses associated with medical aesthetic procedures, such as implantation surgeries, include the cost of screening tests, implants, surgical procedures, replacement or recurrence surgeries, and physicians fees. Additionally, the lack of reimbursement policies for these procedures in developed countries like the US, UK, Germany, France, and Japan further exacerbates the affordability issue. These factors are hindering the growth and accessibility of medical aesthetics treatments for a larger population.

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Segment Overview

This medical aesthetics market report extensively covers market segmentation by

1. Type 
• 1.1 Body contouring procedures
• 1.2 Botox and dermal filler procedures
• 1.3 Other procedures
2. End-user 
• 2.1 Hospitals and clinics
• 2.2 Medical spas and beauty centers
• 2.3 Home use
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 Asia
• 3.4 Rest of World (ROW)

1.1 Body contouring procedures- The global body contouring market is experiencing steady growth due to the increasing adoption of non-invasive and minimally invasive procedures. These methods, which include laser, radiofrequency, cryolipolysis, ultrasound, and heat technologies, offer minimal scars and natural skin texture changes. The market is driven by the development of advanced solutions like CoolSculpting, which uses controlled freezing to reduce body fat. Patients prefer these methods due to minimal procedural downtime, reduced soreness, lower cost, and no incisions. The dental implants market has also seen significant growth, driven by the increasing geriatric population and advancements in technology. Dental implants, made of biocompatible materials like titanium and zirconium, offer strength, durability, and biocompatibility. Titanium dental implants, with their easy availability, excellent biocompatibility, and durability, account for a larger market share. The market's growth is further fueled by innovations, such as OsseoSpeed Profile EV by Dentsply Sirona, which enables correction of sloped teeth without the need for bone augmentation. Additionally, dental implants are increasingly popular among the young population for proper teeth alignment. Dental tourism is another factor driving growth, as patients travel to countries with lower procedure costs, such as Eastern Europe, for dental implant surgeries.

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Research Analysis

The Medical Aesthetics market encompasses a range of cosmetic interventions and technologies designed to enhance personal appearance. Medical professionals utilize aesthetic devices such as Botulinum toxin and dermal fillers for wrinkle reduction and facial contouring. Chemical peels, microdermabrasion, and microneedling devices offer skin rejuvenation through exfoliation and collagen stimulation. Minimally invasive devices, including Botox and laser therapy, provide effective solutions for various aesthetic concerns. Surgical aesthetic treatments like liposuction, breast augmentation, eyelid surgery, and abdominoplasty offer more extensive transformations. Safety standards are paramount in this industry, ensuring procedures align with cultural norms and individual preferences for cosmetic solutions. The market's upward trajectory reflects the growing acceptance and demand for these cosmetic interventions.

Market Research Overview

The Medical Aesthetics Market is experiencing an upward trajectory due to the increasing cultural norms prioritizing personal aesthetic enhancement. Advanced systems, such as automated body contouring devices and laser therapy, offer instant results in fat reduction, cellulite removal, and skin resurfacing. Aesthetic procedures like Abdominoplasty, breast augmentation, and breast lift continue to be popular choices. Dermal fillers and Botox injections, using Botulinum toxin, are non-surgical options for facial aesthetics, addressing wrinkles and fine lines. Minimally invasive devices, such as microdermabrasion and microneedling, provide skin tightening and skin lightening. Safety standards are crucial in this market, ensuring the effectiveness and pain management of cosmetic interventions like eyelid surgery and nose reshaping. The market offers a range of cosmetic solutions, from over-the-counter options to physician-dispensed cosmeceuticals and eyelash products. Surgical procedures, such as liposuction and tattoo removal, continue to be in demand, while non-surgical procedures like chemical peels and thread lift products offer less invasive alternatives. The use of advanced aesthetic devices, including facial aesthetic products and skin lighteners, continues to evolve, providing a diverse range of options for those seeking personal enhancement.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Body Contouring Procedures
• Botox And Dermal Filler Procedures
• Other Procedures
• End-user
• Hospitals And Clinics
• Medical Spas And Beauty Centers
• Home Use
• Geography
• North America
• Europe
• Asia
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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SOURCE Technavio