Aesthetics Market Share

Global Aesthetics Market Overview

The Global Aesthetics Market Size was valued at USD 75.46 Billion in 2023 and is projected to grow from USD 88.45 Billion in 2024 to USD 232.49 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.34% during the forecast period (2024 - 2032). 

The growing need to look young and fit has raised the demand for body image concerns in developing countries. 

Aesthetic procedures such as nose reshaping, liposuction, and Botox injections are accumulating consumer interest in major emerging economies including India and South Korea. As per the International Society of Aesthetic Plastic Surgery (ISAPS), India is rated among the top 5 countries serving non-surgical procedures globally, which highlights the increased growth prospects for aesthetic medicine manufacturers in the country.

During August 2022, AbbVie Inc. unveiled its SkinMedica Firm & Tone Lotion for Body, which is claimed to be the first product from its professional-grade skincare line developed to prevent and address visible signs of aging on the body, among other things, such as appearance-related bias in healthcare. 

In June 2022, Cynosure released the PicoSure Pro device – an upgraded version of the Picosure platform. This device was one among those cleared by the US FDA as being a picosecond laser at 755nm wavelength. 

In May 2022, GC Esthetics Inc. launched FixNip NRI, an innovative nipple-areola complex (NAC) reconstructive implant in Europe through an exclusive partnership agreement with FixNip LTD. 

On March 2023, Galderma introduced FACE by Galderma, a new augmented reality tool that boosts planning for both the treatment with botox and dermal fillers and facilitates consultation with patients in aesthetic procedures, enabling them to preview results of injectable treatments prior to the actual procedure. 

In March 2022, AAFPRS conducted a survey that revealed there were nearly 1.4 million surgical and non-surgical procedures that took place in the US in 2021. This soaring demand for aesthetic procedures records a glaring 40% rise from the previous year.

Mentor Worldwide LLC, partner of Johnson & Johson Medical Devices, made a public announcement in January 2022 that the FDA had approved MENTOR Memory Gel BOOST as an additive for use in breast augmentation or breast reconstruction processes when used with breast implants. This addition to their offerings worldwide has enabled them to expand their global line-up of visualization products and body contouring. 

According to an ISAPS survey released in December 2021, Mexico had done about eight hundred fifty-nine thousand seven hundred eighteen (860,718) aesthetic procedures and among these four hundred fifty-six thousand four hundred eighty-nine (456,489) were aesthetic surgical procedures. 

In November 2021, NanoPass Technologies signed an agreement with AMP (Aesthetic Management Partners) for U.S. commercialization of its MicronJet 600 intradermal delivery device. 

In March 2021, Bausch Health Companies Inc., Solta Medical business, announced the U.S introduction of Clear + Brilliant Touch laser, which is a next-generation product offering individualized and more comprehensive treatment protocols by giving patients the benefits from two wavelengths regardless of age or skin type.

Global Aesthetics Market Trends

• Employment of new-age growth strategies by key players

The global aesthetics market is driven by new-age trends, which include the introduction and employment of new growth-driven strategies. Major key players in the global market are empowering their businesses by adopting different growth strategies, including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launches, and innovative visual aesthetics products to remain competitive in the marketplace, which is anticipated to positively impact the market's growth.

With the growing popularity of minimally invasive and non-invasive aesthetic beauty treatment, the growing popularity of anti-aging treatment procedures among geriatric patients, the accessibility of technologically developed and user-friendly products, and the growing demand for aesthetic treatment among men, the market for medical aesthetics has seen a commendable growth. With this, the market's growth is being held back by the clinical risks and consequences associated with body contouring procedures and the growing accessibility and popularity of alternative beauty and cosmetic products.

In June 2020, Allergan Aesthetics, a subordinate of AbbVie Inc. a leader in dermatology from the United States, obtained the approval from FDA to indicate the Chin region in adults aged 21 and above. Apart from this, FDA has also authorized Jeuveau which is similar to Botox, but available at a much lower price. Such and more growth strategies employed by the companies operating in the said domain help the global market grow rapidly to earn a substantial market share. 

Aesthetics Market Segment Insights

Aesthetics Procedure Insights

The market segments of aesthetics, based on procedure, have been divided into invasive procedures (breast augmentation, liposuction, nose reshaping, eyelid surgery, tummy tuck) and non-invasive procedures (botox injections, soft tissue fillers, chemical peel, laser hair removal, microdermabrasion). The non-invasive procedures category held a prominent share in 2023. Less pain, instant results, and lower prices are some of the factors that have enhanced the demand for non-invasive aesthetic treatment. However, invasive is the fastest-growing category due to the growing focus of individuals on physical appearance through skin rejuvenation.

The aesthetics market is experiencing a rise in innovation within the non-invasive procedures segment, particularly with the convergence of artificial intelligence (AI) and home care. Leading companies like L'Oreal and Procter & Gamble are leading the development of AI-powered at-home skincare devices. These smart systems analyze a user's skin characteristics using advanced algorithms. This analysis can encompass factors like wrinkle depth, sun damage severity, and hydration levels, providing a comprehensive assessment previously unavailable outside of a clinical setting.

During CES® 2024, L'Oréal announced "Beauty Genius technology," an innovative technology that uses artificial intelligence to customize the beauty experience.

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  Information on the adoption rates and efficacy of minimally invasive liposuction techniques like BodyTite, VASERlipo, and Blase Lipo.

  
  

Technology Innovations: The usage of less invasive liposuction procedures like BodyTite, VASERlipo, and Blase Lipo has increased since these procedures are more successful, involve less recovery time, and result in less scars than traditional liposuction techniques. Patients and medical professionals are using these cutting-edge devices more and more frequently. Clinical studies and real-world experiences indicate that BodyTite, VASERlipo, and Blase Lipo are helpful in reducing localized fat deposits and enhancing body forms. These treatments often result in more skin tightening and contouring than traditional liposuction procedures. According to the American Society for Aesthetic Plastic Surgery, there has been a notable surge in demand in recent times for minimally invasive cosmetic procedures like as BodyTite, VASERlipo, and Blase Lipo. In 2020, minimally invasive cosmetic procedures account for 86.3% of all cosmetic procedures performed in the US.

Innovation Impact: Data regarding patient outcomes, satisfaction rates, and comparisons between traditional liposuction and minimally invasive techniques.

Patients tend to be more satisfied with less invasive liposuction techniques because of their quicker recovery times, reduced scarring, and perceived safety. Patients who had VASERlipo reported higher satisfaction rates than those who had standard liposuction, according to research published in the journal Aesthetic Plastic Surgery.

Furthermore, liposuction was determined to be the most common operation performed, with 2,303,929 procedures, closely followed by breast augmentation at 2,174,616 procedures. Eyelid Surgery came in third place with 1,409,103, followed by Abdominoplasty in fourth place with 1,180,623. Breast Lift ranked sixth out of all documented procedures with 955,026.

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  Comparisons between traditional liposuction and minimally invasive techniques

  
  

Minimally invasive liposuction techniques typically have shorter recovery times compared to traditional liposuction. This is due to the smaller incisions and less invasive nature of these procedures, which result in less trauma to the surrounding tissues and faster healing. Furthermore, in a typical liposuction procedure, a cannula is placed under the skin to remove fat cells. On the other hand, non-invasive body sculpting uses state-of-the-art techniques, such as freezing temperatures, to break down fat cells without the need for incisions, anesthesia, or recovery time.

The size of the liposuction devices market was estimated at USD 1.30 billion in 2023 globally and is expected to rise at a compound annual growth rate (CAGR) of 11.41% between 2024 and 2032, from USD 1.45 billion in 2024 to USD 3.42 billion by 2032. The rising rate of obesity worldwide is a prominent factor driving the industry's progression. The World Heart Foundation (WHO) predicts that by 2025, approximately 1 billion adults, constituting 12% of the global population, will grapple with obesity.