The Global Aesthetics Market Valued at USD 77.3 billion in 2023, projected to grow from USD 84.1 billion in 2024 to USD 154.06 billion by 2032, exhibiting a CAGR of 8.80% 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.
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.
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.
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.
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.
The segmentation of this market, based on gender, is divided into two categories male and female. The female category had a major share in 2023 due to the growing female working population. Also, the female group has signs of ageing, such as forehead lines, frown lines and crow's feet. However, the male category in the said segmentation is the fastest growing category as it allows to reduce the appearance of scarring skin which fuels this market growth during the forecast period.
ZO Skin Health Inc. - July 2024: ZO Skin Health has launched a new line of skincare products specifically designed for men, addressing common male skin concerns such as shaving irritation, acne, and signs of aging. This line features advanced formulations with enhanced anti-inflammatory and hydrating properties. The products incorporate a proprietary technology that adapts to different skin types and conditions, providing tailored solutions for male skin health.
Alumier MD - June 2024: Alumier MD introduced a revolutionary gender-specific anti-aging serum aimed at women. This serum combines novel peptide technology with plant-based stem cells to target fine lines, wrinkles, and skin elasticity. The formulation is designed to cater to the unique hormonal changes and skin aging processes in women, offering a more effective solution for maintaining youthful skin.
Teoxane - May 2024: Teoxane has developed a new range of gender-tailored dermal fillers that address distinct aesthetic needs for both men and women. For men, the focus is on enhancing facial volume and contour to achieve a more defined jawline and overall masculine appearance. For women, the fillers are designed to provide subtle volume enhancement and smooth fine lines. The new range uses advanced hyaluronic acid technology to ensure natural-looking results and prolonged effects.
Based on the end-user segmentation, the global aesthetics market is segmented into clinics, hospitals, & medical spas, beauty centres, and home care. In 2023, the clinics, hospitals, and medical spas category held a prominent market share. Market growth in this category can be related to the growing awareness about the psychology of aesthetics along with several aesthetic procedures and their benefits, growing preference for minimally invasive cosmetic surgeries, and an increase in the number of body dysmorphia clinics. However, the home care segment is the fastest growing segment due to the increased adoption of home-use aesthetic devices.
The global market is studied prominently across and divided into four regions, viz., North America, Europe, Asia-Pacific, and the Rest of the World. North America, among all the other regions, has the major market share, while Asia-Pacific is estimated to have the highest CAGR during the forecast period.
As per the research report published in 2023, North America is accounted to have the largest revenue share in the global aesthetics market. The US Aesthetics Market is expected to rise from USD 9.42 billion in 2023 to USD 14.28 billion by 2032, with a compound annual growth rate (CAGR) of 6.42% over the forecast period (2024-2032). Advanced healthcare infrastructure, the adoption of cosmetic procedures, the growing prevalence of skin disorders, and the existence of board-certified and experienced cosmetic surgeons in North America are some of the major characteristics driving the market growth in this region.
The American Society of Plastic Surgeons (ASPS) compared the data from 2000 to 2018 and observed the growth rates of cosmetic surgery procedures. It was observed that breast augmentation procedures have increased by 48%, while the usage of Botox injections increased by 845%. Thus, North America will be a key revenue generator for aesthetic medicine manufacturers during the forecast period.
Asia-Pacific is estimated to register the highest growth rate in the aesthetics market during the forecast period. The APAC Aesthetics Market is expected to surge from USD 6.86 billion in 2023 to USD 13.64 billion by 2032, with a compound annual growth rate (CAGR) of 6.78% during the forecast period (2024-2032). The growth of the APAC market is primarily driven by the growing public awareness about the body image, anti-ageing surgeries and cosmetic procedures, enhanced medical tourism and healthcare infrastructure, and the low cost of treatment.
Furthermore, the high growth rate of the Asia-Pacific region is backed by China, India, and South Korea, where South Korea is known as the hub of cosmetic surgery. The availability of technologically advanced products and the growing focus on physical appearance and visual aesthetics help the said market grow rapidly. These are some key factors anticipated to drive the market growth in the region during the forecast period.
The global aesthetics market includes tier-1, tier-2, and local players. The tier-1 and tier-2 players have reached with diverse product portfolios. Companies such as AbbVie, Cynosure, Lumenis, Solta Medical, Evolus Inc., Revance Galderma, Syneron Candela, and Alma Lasers dominate the market owing to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are concentrating on supporting research and development in skin rejuvenation and cosmetic surgery.
Furthermore, these key players embrace strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base globally. For instance, in March 2020, Galderma announced a significant investment in the aesthetic portfolio, including the expansion of the U.S. salesforce and digital advancements in ASPIRE Galderma Rewards which helps strengthen its position in the market.
March 2023: Galderma introduced "FACE by Galderma," an augmented reality tool that empowers both aesthetic professionals and patients to preview injectable treatment results before the actual procedure, enhancing the botox and dermal fillers treatment and its planning process.
August 2022: AbbVie Inc. launched their own SkinMedica Firm & Tone Lotion for Body, which is stated to be the first product from the professional-grade skincare line formulated to prevent and address visible ageing signs of the body, while aiding the appearance-related bias in healthcare among people.
January 2022: Mentor Worldwide LLC, one of the venture partners of Johnson & Johson Medical Devices, announced that the FDA had approved their newly launched product called MENTOR Memory Gel BOOST, which helps breast implants for breast augmentation and breast reconstruction. This product has helped the said company to expand its product portfolio of visual and body contouring in the global market.
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Market Forecast and Size: To identify and estimate the market size of aesthetics segmented by procedure, gender, and end-user by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the market.
Market Influencing Factors: To find out the factors which are affecting the sales of aesthetics among consumers.
Impact of COVID-19: To identify and understand the various factors involved in the market affected by the pandemic.
Company Profiling: To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Intended Audience
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