Aesthetic Medicine Market to Reach Valuation of USD 107 Billion by 2028 - The Increasing Public Awareness Associated with the Cosmetics Procedures, and the Accessibility of Technologically Advanced User-Friendly Products are Driving the Market Growth

Vantage Market Research

May 28, 2022

In terms of revenue, the Global Aesthetic Medicine Market is probable to reach USD 107 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 9.3% from 2022 to 2028.

The rising awareness amid healthcare professionals and patients concerning the advantages of Aesthetic Medicine has left a optimistic impact on the Aesthetic Medicine Market growth during the forecast period. Whereas, Aesthetic Medicine particularly focuses on altering the cosmetics appearance of the person to her/his desire which is responsible for the increasing demand for Aesthetic Medicine during the forecast period and is predicted to grow in the coming years.

Key Highlights from the Report:

  • The non-surgical sub-segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR). The non-surgical methods include cryolipolysis, and facial injectables which help in correcting facial lines, wrinkles, and reduction of undesirable fats in a short time period with insignificant side effects, which are driving the growth of the non-surgical segment in the Aesthetic Medicine Market during the forecast period.

  • The hospital sub-segment holds a substantial market share in 2021. The hospital's segment is predicted to acquire the largest revenue share of the Aesthetic Medicine Market during the forecast period. The accessibility of sophisticated professional devices, availability of skilled professionals, and strict legislative guidelines for usage are the major factors driving the growth of the hospital segment during the forecast period. Moreover, the home care settings are witnessing increased demand owing to increasing patients’ preferences to avoid clinics and hospitals.

  • Asia Pacific is the fastest regional segment. The Asia Pacific is expected to register the fastest growth during the forecast period. the rising demand in the countries such as India, China, and South Korea is predicted to have a positive impact on the market growth in the coming years. The rise in medical tourism especially in Asian countries is helping to grow rapidly in the Asia Pacific region. The increasing preference of the consumers toward a healthy lifestyle along with the growing disposable income is fueling the Aesthetic Medicine Market during the forecast period.

Market Dynamics:

The increasing consciousness among healthcare specialists and patients concerning the advantages of Aesthetic Medicine has left a positive influence on the Aesthetic Medicine Market growth during the forecast period. Furthermore, advancements in the non-surgical and surgical aesthetic procedures are also predicted to act as a primary key driver for the expansion of the Aesthetic Medicine Market in the upcoming years. Moreover, the increasing urge to appear young and fit has boosted the demand for aesthetic treatment in emerging countries during the forecast period.

The collaborative strategies of companies for research and development, and the increasing awareness among the population regarding Aesthetic Medicine are further expected to propel market growth in the years to come. The clinical risk, and complications associated with medical aesthetic procedures, are expected to hamper the Aesthetic Medicine Market growth during the forecast period. Additionally, it is widely adopted to treat the conditions such as excess fat, scars, skin discoloration, wrinkles, and moles among others which are fueling the growth of the Aesthetic Medicine Market during the forecast period.

North America is the largest market. North America is projected to acquire the largest share of the Aesthetic Medicine Market during the forecast period. The increasing prevalence of skin disorders, adoption of cosmetic procedures, and presence of skilled and board-certified surgeons in North America are some of the prime factors contributing to the growth of the Aesthetic Medicine Market in the North American region during the forecast period.