Yahoo Finance Aesthetic Medicine Market Size & Share to Surpass $107 Billion by 2028 | Vantage Market Research
WASHINGTON, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to the report published by Vantage Market Research, the global Aesthetic Medicine Market size was valued at $ 62.8 Billion in 2021 and is expected to reach $ 107 Billion by 2028, expanding at a 9.3% CAGR from 2022 to 2028. The report examines changing market dynamics, major segments, the value chain, the competitive scenario, and the regional landscape. This research provides valuable guidance to market leaders, investors, shareholders, and startups in developing strategies for long-term growth and gaining a competitive advantage.
Modern life-style and innovative aesthetic device manufacturers are the key factors driving the Aesthetic Medicine Market. Also, the demand in aesthetic surgery such as tummy tuck (abdominoplasty), breast augmentation, breast reduction, eyelid surgery, nose reshaping (rhinoplasty), face lift and removal of fat (liposuction) are generating demand for the Aesthetic Medicine Market. Furthermore, growing awareness among the young population about cosmetic procedures fuels the market in the forecast years.
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Market Dynamics:
Driver: Increasing Awareness for Aesthetic Treatment in the Geriatric Population
Aesthetic procedures are quite famous in the U.S. and Europe. In 2020, around 4.6 million cosmetic procedures have taken place in North America and South America. Brazil is ranking second in the aesthetic procedures with 2 million surgeries per year. In 2019, the total expenditure on aesthetic surgeries went 2 times that of non-surgical procedures. The popularity varies from region to region.
According to International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall rise of 4.5% in the number of aesthetic procedures. These are few factors that are boosting the demand for aesthetic procedures among the geriatric population and thus impacting the market growth.
Top Players in the Global Aesthetic Medicine Market
AbbVie (Allergan)
Alma Lasers
Cynosure
Galderma
LUMENIS Inc
Johnson & Johnson
Merz Aesthetics
PHOTOMEDEX
Syneron Candela
CUTERA Inc.
Bausch Health Companies Inc.
For Additional Information on Aesthetic Medicine Market Players and Detail List, Download a Report PDF Brochure
Segmentation of the Global Aesthetic Medicine Market:
Type
Surgical
Non-Surgical
Product
Energy-Based
Non-Energy-Based
Others
Gender
Male
Female
End Use
Hospitals
Ambulatory Surgical Centers
Beauty Centers and Medical Spas
Dermatology Clinics
Home Settings
Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Restrain: High Chances of Risk and Clinical Complications
According to an American Society of plastic surgeons, around 25,000 complications are recorded every year around the globe. The growing risks of hematoma, seroma, blood loss, infection, nerve damage, and other things are commonly seen in patients opting for aesthetic procedures. The potential damage and nerve damage might cause a permanent failure of the skin. Aesthetic procedures are operated by professional surgeons but 7% of the overall surgeons are not certified to operate these procedures, hence chances of failure might occur. These are some of the restraining factors that are hampering market growth.
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Recent Developments:
In November 2020, AbbVie (US) acquired Allergan (Ireland) to form a global segment Allergan Aesthetics in order to improve its medical aesthetics product line.
In January 2019, HRA Pharma (France) acquired Merz (Germany) to enhance its product portfolio in surgical medical aesthetics.
Regional Analysis:
North America Dominates the Global Aesthetic Medicine Market
North America held the largest market share in 2021. The U.S leads the aesthetic procedures trend and thus Aesthetic Medicine Market. The rising disposable income and growing concerns towards individual’s physical appearance is driving the demand for aesthetic procedures in this region.
Asia Pacific is poised to be the fastest growing in Aesthetic Medicine Market. Countries in APAC are witnessing high growth rates in coming years. Increasing knowledge and a growing young population is fuelling the demand for cosmetic and plastic surgery in this region.
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on Aesthetic Medicine Market Forecast Report (2022-2028).
Scope of the Report:
Report Attributes | Details |
Market Size in 2021 | USD 62.8 Billion |
Revenue Forecast by 2028 | USD 107 Billion |
CAGR | 9.3% from 2022 to 2028 |
Base Year | 2021 |
Forecast Year | 2022 to 2028 |
Key Players | AbbVie (Allergan), Alma Lasers, Cynosure, Galderma, LUMENIS Inc, Johnson & Johnson, Merz Aesthetics, PHOTOMEDEX, Syneron Candela, CUTERA Inc., Bausch Health Companies Inc. |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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Top Companies in Aesthetic Medicine Market | Top Players of Industry Growth Analysis
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