The Aesthetic Medicine Global Market Report 2023 by The Business Research Company, provides aesthetic medicine market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Aesthetic Medicine Global Market Report 2023, the global aesthetic medicine market size will grow from $56.93 billion in 2022 to $62.8 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the aesthetic medicine is expected to grow to $91.27 billion in 2027 at a CAGR of 9.8%.
The growing obese populations across the globe is expected to propel the growth of the aesthetic medicine market. The increase in unhealthy food consumption, lack of physical activity, and parental & postnatal influences are contributing to rapid growth in the obese population across the globe. Individuals with obesity, seek aesthetic medicine for fat reduction, meso/face-lift, and other benefits through various invasive and non-invasive aesthetic medicine procedures.
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The aesthetic medicine market is segmented:
1) By Product: Facial Aesthetic Products, Body Contouring Devices, Cosmetic Implants, Hair Removal Devices, Skin Aesthetic Devices, Tattoo Removal Devices, Thread Lift Products, Physician-dispensed Cosmeceuticals and Skin Lighteners, Physician-dispensed Eyelash Products, Nail Treatment Laser Devices
2) By Procedure Type: Invasive Procedures, Non-Invasive Procedures
3) By End User: Clinics, Hospitals, and Medical Spas, Beauty Centres, Home Care
New product development for a wide spectrum of skin types is a key trend in the aesthetic medicine market. Aesthetic medicine companies are focusing on launching new products and solutions to cater to the needs of various skin types and expand their customer reach. These products can be used in the treatment and patient care for a broad spectrum of skin types resulting in a wider application range. For instance, in September 2020, Allergan Aesthetics, an American pharmaceutical company, and Skinbetter Science, a US-based skincare company launched the DREAM initiative (DREAM: Driving Racial Equity in Aesthetic Medicine). This will help in the development of new products for all kinds of racial and ethnic groups so that aesthetic providers can meet the needs of all patients. In addition, in March 2020, Galderma, a Swiss pharmaceutical company announced to make significant investments to grow its aesthetic portfolio, including digital enhancements to ASPIRE Galderma Rewards.
The aesthetic medicine market report table of contents includes:
1. Executive Summary
2. Aesthetic Medicine Market Characteristics
3. Aesthetic Medicine Market Trends And Strategies
4. Aesthetic Medicine Market – Macro Economic Scenario
5. Aesthetic Medicine Market Size And Growth
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26. Africa Aesthetic Medicine Market
27. Aesthetic Medicine Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Aesthetic Medicine Market
29. Aesthetic Medicine Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Allergan PLC
- Alma Lasers
- Cutera
- Cynosure
- Galderma
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