The aesthetic medicine market consists of minimally-invasive and non-invasive procedures which enhance physical appearance and boost self-esteem. These procedures help reduce signs of aging, treat sagging skin, improve body proportions, and diminish acne scars and blemishes. The demand for aesthetic procedures is growing substantially owing to rising influence of social media emphasizing ideal beauty standards and images.
The global Aesthetic Medicine Market is estimated to be valued at US$ 147.9 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing social media influence has accelerated the growth of the aesthetic medicine market tremendously over the past few years. People extensively use various social media platforms which showcase highly curated and edited images presenting unrealistic beauty standards. The constant exposure to such images on social media makes individuals increasingly conscious about their physical appearance. In a bid to attain the similarly carved shape and proportions shown in most social media photos, people are actively opting for various aesthetic procedures. Cosmetic treatments help actualize the idealized versions of beauty prevalent on different social platforms. This amplified focus on physical attributes due to social media is a key trend boosting the demand for aesthetic medicine procedures globally.
Segment Analysis
The global aesthetic medicine market is dominated by cosmetic surgery procedures sub segment. Cosmetic surgery procedures contribute over 50% of the total market value. Cosmetic surgery procedures such as breast augmentation, liposuction, eyelid surgery and abdominoplasty are more popular across regions and witness high growth compared to other procedure types. This sub segment dominates due to the increasing preference towards enhancing physical appearance and growing social acceptance of cosmetic procedures among people.
Key Takeaways
The Global Aesthetic Medicine Market Size is expected to witness high growth. The global Aesthetic Medicine Market is estimated to be valued at US$ 147.9 Bn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.
Regional analysis related content comprises North America region dominates the global aesthetic medicine market and accounts for over 35% of the total market share. The United States is the largest market in this region due to growing spending on personal appearance and advertising of cosmetic treatments and procedures.
Key players related content comprises Key players operating in the aesthetic medicine market are Johnson & Johnson, Lumenis, Cynosure, Allergan, Alma Lasers, Solta Medical, Syneron Candela, Cutera, and Merz Pharma.
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