Medical Aesthetics Market size was valued at USD 13.1 billion in 2022 and is poised to grow from USD 14.4 billion in 2023 to USD 35.6 billion by 2031, growing at a CAGR of 10.1% in the forecast period (2024-2031).
Medical aesthetics is used for treating and improving the aesthetic appearance of people by healing various conditions like skin laxity, excessive fat, cellulite, scars, moles, wrinkles, unwanted hair, liver spots, spider veins, and even skin discoloration. Generally, it consists of dermatology, oral & maxillofacial surgery, reconstructive surgery, and plastic surgery. Aesthetic medicine consists of surgical & non-surgical processes, and also a mix of both to improve physical appearance. Additionally, aesthetic processes also help in reversing the aging process to a certain limit. In today’s society, physical appearance has become crucial, and people are much more attracted to products and treatments that can help them to retain their youth and beauty. Deformities due to various situations like accidents, trauma, and other congenital disorders can also be rectified by using aesthetic devices like implants. It is expected that the medical aesthetic market will grow immensely because of the rising demand for minimally invasive and non-invasive reconstruction surgeries. The primary factors boosting the medical aesthetic market are congenital face and tooth deformities and rise in awareness for aesthetic look.
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Rising Focus on Preventive and Personalized Aesthetics
In the past few years, the cosmetic market has witnessed a massive shift towards proactive aesthetic processes where people enroll for preventive therapies to maintain their youth whenever they see signs of ageing. The move towards preventive self-care can be directed as a millennial strategy to look young over the years. Furthermore, individualized therapies are designed according to the unique requirement of a person, and this has increased the growth of the market. Personalizing treatments can enhance a patient’s experience and helps in keeping the customers satisfied with their change.
Increasing Disposable Income and Aging Population
The medical aesthetics market is driven by factors such as income growth, particularly in developing markets people are investing in cosmetic surgeries. The aging population is also another factor for the adoption of various aesthetics procedures. Nowadays more people are trying to maintain the youthfulness of their skin due to which the demand for beauty procedures and skincare products are increasing. These processes like anti-aging and wrinkles treatment will improve any age-related concerns and offer patients the changes they want in their skin.
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- In February 2023, Sinclair Pharma, a subsidiary of Huadong Medicine Corporation Ltd. Introduced Scultpt&Shape, a unique RoatateRF technology device for body contouring and face rejuvenation.
- In January 2023, Allergan Aesthetics unveiled their SkinMedica Even & Correction Collection.These clinically proven and formulated products even skin tone and minimize hyperpigmentation.
- In January 2022, Sientraannounced its acquisition of an innovative fat grafting technology from Auragen Aesthetics. It helped the company to expand its product portfolio of aesthetics.
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The medical aesthetics market is increasing because of the rising incidences of skin disorders. The market is also growing due to major technological advancements, investments in research and development, people’s desire for plastic surgeries. As cosmetic surgeries are becoming more popular the manufacturers are also following stringent regulations for developing safer and efficient anti-aging therapies as it will directly impact the consumers. However, in this industry satisfying the client is of utmost important, as long as they are happy the medical aesthetics market will keep growing.
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