The worldwide aesthetic medicine market value is expected to grow at a CAGR of 10.3% during the forecast period. By 2032, global aesthetic medicine sales revenues will be approximately US$ 187.7 billion.
People's growing desire to improve their physical appearance is emerging as a major driver of demand for aesthetic treatment.
Aesthetic medicine, sometimes known as cosmetic medicine, is a growing clinical specialty that offers therapies to help patients feel better about their physical appearance. It is a discipline of modern medicine that includes all medical operations aimed at improving the physical appearance of patients.
The rising frequency of disorders such as obesity will drive up global demand for aesthetic medicine during the forecast period.
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Obesity is a rising global health problem, and the number of persons affected is increasing. According to the World Obesity Federation, around 1 billion individuals will be obese by 2030. Obese people are more likely to choose aesthetic operations like liposuction.
Aesthetic procedures such as liposuction and body sculpting are gaining popularity as a way for people to lose excess fat and improve their appearance.
Aesthetic treatments can boost a person's self-esteem, confidence, and overall health. As the prevalence of obesity increases, so will the demand for aesthetic medicine.
Non-invasive procedures including as laser therapy, botox injections, dermal fillers, and other similar treatments continue to be in great demand. This is because they have short recovery durations and provide long-term results with little adverse effects.
Fact.MR projects that the non-invasive procedures sector will account for more than half of the market by 2032.
North America will continue to dominate the worldwide aesthetic medicine industry, accounting for over 40% of the market from 2022 to 2032. Increasing demand for cosmetic treatments, as well as rising consumer awareness, are significant drivers of the North American industry.
Similarly, the strong presence of prominent manufacturers and the widespread use of modern aesthetics techniques will raise market sales in North America.
Country-wise Analysis
How Consumer Acceptance of Aesthetic Medicine has Grown in the World’s Most Populous Country?
Consumer acceptance of aesthetic medicine has consistently increased in China, driven by the consumption upgrading trend and heightened consumer awareness fueled by innovative digital media marketing. The government has also implemented policies to promote the standardization of the cosmetic medicine industry. The aesthetic medicine market in China is expected to grow at the fastest rate in the Asia Pacific region, with a projected CAGR of 13%. The market in the country is forecast to surpass a valuation of US $16 billion by 2032.
By 2032, China is anticipated to account for over 7% of the global demand for medical aesthetics. Large digital platforms have also opened up access to patients in the country’s third and fourth-tier cities, sparking interest in the future potential of medical aesthetics in China.
Japan has the world's largest elderly population. According to a World Health Organization (WHO) poll, more than 34% of Japan's population is over the age of sixty, and this percentage is anticipated to increase to more than 42% by 2050. Wrinkles emerge as people age, which is one of the main causes for the growth of the cosmetic medicine market in Japan.
Category-wise Insights
Why Do Non-invasive Procedures Hold a Larger Share of the Cosmetic Medicine Market Than Invasive Procedures?
Non-invasive procedures dominate the cosmetic medicine market compared to invasive ones, driven by factors such as reduced pain, quicker results, and lower costs. Popular non-invasive treatments like Botox injections, soft tissue fillers, and chemical peels continue to see strong global demand.
Cosmetic procedures are gaining popularity worldwide, further propelling market growth. According to the International Society of Aesthetic Plastic Surgery (ISAPS), India ranks among the top five countries for non-surgical procedures. With growing fitness awareness, adults are increasingly focusing on improving their physical appearance.
How Did COVID-19 Impact Revenue Generation in Aesthetic Medicine?
The COVID-19 pandemic significantly impacted the aesthetic medicine industry, leading to temporary salon closures, reduced product demand, limited operations, and lower income levels. Although the industry experienced short-term negative growth, there has been a noticeable increase in demand for cosmetic treatments. Botox, in particular, has become increasingly popular.
Consumers, more conscious of their appearance during the pandemic, turned to cosmetic procedures, which allow for quicker recovery at home. This shift contributed to a surge in global demand, particularly for non-invasive aesthetic devices. The growth of advanced aesthetic technologies and the growing emphasis on physical appearance are key drivers of the market.
Market Segments Covered in Aesthetic Medicines Industry Analysis :
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By Procedure Type :
- Invasive Procedures
- Breast augmentation
- Liposuction
- Nose reshaping
- Eyelid surgery
- Tummy tuck
- Other invasive procedures
- Non-Invasive Procedures
- Botox injections
- Soft tissue fillers
- Chemical peel
- Laser hair removal
- Microdermabrasion
- Invasive Procedures
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By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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