The Aesthetic Medicine Global Market Report 2023, provides comprehensive information on the aesthetic medicine market 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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The global landscape of aesthetic medicine is poised for substantial growth and transformation, as elucidated by The Business Research Company’s Aesthetic Medicine Global Market Report for 2023. It is projected that the market’s size will exhibit a remarkable increase, ascending from $56.93 billion in 2022 to $62.8 billion in 2023, characterized by a noteworthy compound annual growth rate (CAGR) of 10.3%. Nevertheless, the shadow of the protracted Russia-Ukraine conflict looms large, impeding the prospects of a swift and robust global economic resurgence in the aftermath of the COVID-19 pandemic.
The reverberations of this geopolitical turmoil extend far and wide, giving rise to a series of economic sanctions against various nations, a palpable upsurge in commodity prices, and consequential disruptions within global supply chains. These multifaceted challenges have translated into inflationary pressures that resonate across the pricing spectrum of goods and services, exerting a discernible impact on diverse markets spanning the globe. Notwithstanding these tribulations, the aesthetic medicine market is projected to persevere and demonstrate resilience, with a projected market size of $91.27 billion anticipated by 2027, supported by a CAGR of 9.8%. This trajectory underscores the unwavering dynamism and adaptability of the aesthetic medicine industry, promising enduring growth and innovation in the pursuit of enhancing beauty and well-being.
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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 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
North America was the largest region in the aesthetic medicine market in 2022.
The table of contents in TBRC’s aesthetic medicine market report includes:
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Top 5 Major Key Players Are:
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