Medical Aesthetics Market To Hit US$ 35.32 Billion By 2030 With 12.8% CAGR Marketsandmarketstm.

(MENAFN- PR Newswire)

DELRAY BEACH, Fla., Dec. 20, 2024 /PRNewswire/ -- The global
medical aesthetics market , valued at US$15.59 billion in 2023, is forecasted to grow at a robust CAGR of 12.8%, reaching US$17.16 billion in 2024 and an impressive US$35.32 billion by 2030. The growing incidence of lifestyle diseases such as skin infections, obesity, and age-related issues coupled with growing technological innovations is driving growth in the medical aesthetics market. Minimally invasive procedures, laser-based treatments, and the like have improved patient outcomes and expanded the scope of applications. Trends of consumer awareness coupled with preventive care alongside digital platforms for their treatment plans have led to adopting aesthetic solutions across clinics, medical spas, and home care settings around the globe.

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Based on the product, the medical aesthetics market is categorized into facial aesthetic products, cosmetics implants, skin aesthetic devices, body contouring devices, physician-dispensed cosmeceuticals and skin lighteners, hair removal devices, tattoo removal devices, thread lift products, Physician- dispensed eyelash products and nail treatment laser devices. For the year 2023, facial aesthetics products consisting of botulinum toxins, dermal fillers, and chemical peels held the largest of the medical aesthetics market.

Based on device type, The medical aesthetics market is segmented into standalone devices, multimodal devices, and at-home or self-use devices. For medical aesthetics procedures, standalone devices are preferred more by surgeons due to their interactive and smooth interface. Such characteristics make standalone devices more viable for end users like hospitals, and beauty clinics.

Based on procedure, in terms of procedure the medical aesthetics market is divided into two main categories: surgical and non-surgical procedures. Surgical procedures include options such as breast augmentation, rhinoplasty, facelifts, body lifts, and other similar interventions. On the other hand, non-surgical procedures encompass treatments like anti-aging and skin rejuvenation, tattoo and scar removal, hair removal, lipolysis, and various other non-surgical options. Non-surgical procedures are generally preferred by consumers due to their shorter recovery times and lower risk of complications, such as infections. These advantages have contributed to non-surgical procedures capturing the largest share of the medical aesthetics market in terms of the number of procedures performed.

Based on end users, the medical aesthetics market is categorized into clinics, hospitals, medical spas, beauty centers, and home care settings. Growth in this segment can attributed to advancements in technologies specifically in clinics, hospitals, and medical spa settings helping them to acquire more consumers. The same thing has helped hospitals, clinics, and medical spas to acquire the largest share of medical aesthetics market in terms of end users. At the same time, it's anticipated that the coming time will observe an increase in the elderly population. Such conditions will create a need for solutions aiming at maintaining health and physical appearance which will help to grow the market for medical aesthetics.

Based on Geography, North America accounts for the highest share of the medical aesthetics market. This is due to strategic initiatives by the market players in the region, a growing number of concerns regarding aesthetics treatment, and the aesthetics healthcare infrastructure. The US has a higher adoption rate of innovative technologies as compared to other countries, which is a major factor responsible for the large share of the US in the North American medical aesthetics market. Availability of advanced and user-friendly products are the other major factors responsible for the growth of the market.

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The market of medical aesthetics is moderately competitive, where there exist established companies and upcoming competitors for the same market share. As of 2022, key players that operate in the global medical aesthetic market are Abbvie Inc (US), Galderma (Switzerland), Johnson & Johnson (US), Bausch Health Companies Inc. (Canada), and Cutera. (US) among others.

These competitors have employed several strategies to gain an advantage in the global medical aesthetics market through mergers and acquisitions, agreements, partnerships, and new product launches. In 2022, Abbvie Inc. (US), Bausch Health Companies Inc. (Canada), and Johnson & Johnson (US) possessed a larger share in the medical aesthetics market.

Abbvie Inc. (US):

AbbVie is a global biopharmaceutical company with six product segments: Immunology, Hematologic Oncology, Aesthetics, Neuroscience, Eye Care, and Other Key Products. Their Aesthetics division provides a wide range of solutions, such as Botox Cosmetic, Juvederm Collection, and other aesthetic products, including facial injectables, regenerative medicine, body contouring, and skincare items.

Abbvie is among the leading companies in the global medical aesthetics market. A strong focus on research and innovation to discover and develop innovative pharmaceutical products with a diversified global presence are the company's major strengths and help in keeping its product pipeline robust.

AbbVie has strategically positioned itself as one of the most well-known biopharmaceutical companies globally, especially in the Aesthetics market. The company continues to expand its portfolio with FDA approvals and launches of new product lines, such as Botox Cosmetic for facial treatments, the Juvéderm Collection for restoring lost volume, and SKINVIVE to smoothen cheek skin. All these products are gaining more aesthetic demand and place AbbVie at a better competitive advantage in the skincare marketplace. Others, AbbVie just innovated further in body contouring with CoolSculpting and diversified its medical solutions in Neuroscience, Oncology, and Eye Care.

Galderma (Switzerland):

The company's core strength, however, remains its innovative portfolio of products and strong regulatory achievements, making the company a leader in dermatology and injectable aesthetics. Indeed, successful FDA approvals for cutting-edge treatments such as Restylane Eye light, Restylane Contour, and Restylane Define highlight Galderma's superiority in considering almost any aesthetic demand-from hollowing under the eyes to chin augmentation. Further proof of commitment towards technological advancements, Galderma launched "FACE by Galderma" - an augmented reality device that has augmented treatment planning. With good manufacturing capabilities, a new facility in Singapore and a direction towards digitalization and automation, Galderma is prepared for sustainable growth.

Galderma maintains its strategic focus on innovation and global growth with strategic alliances in reinforcement of dermatology dominance. The company distinguishes itself with advanced technologies, one of which is the PLLA-SCA technology of Sculptra, a collagen stimulator that targets signs of aging. A wide variety of products in injectable aesthetics, dermo- cosmetic, and therapeutic dermatology underline effective solutions against various skin issues and are on offer by Galderma.

Johnson & Johnson (US):

Johnson & Johnson's competitive advantages in the medical aesthetics market are based on its wide-range product portfolio, international presence, and mastery of advanced healthcare technologies. One of its products in the Mentor line of breast implants, particularly MemoryGel, MemoryShape, and SILTEX, is reflective of innovation regarding features that can offer natural aesthetics, flexibility in options, and advanced materials for augmentation and reconstruction. The group's presence in all major regions and the subsidiary support of Janssen Pharmaceuticals, Neutrogena, and Ethicon Inc. help to penetrate every critical market around the globe. Furthermore, as a leader in healthcare and the capability to cater to a variety of provider and patient needs, the company strongly reiterates its leadership in the industry for medical aesthetics.

Johnson & Johnson has undertaken strategic efforts that enhance its position in the medical aesthetics market. Such strategic moves included the acquisition of Mentor Worldwide LLC in 2009, which expanded its portfolio in surgical aesthetics as well as breast implant technologies. As an independent business under Ethicon, J&J ensured that it remained in a better position concerning leadership in breast aesthetics while responding to the growing demand for cosmetic and reconstructive procedures. Also, the company has emphasized innovation, providing sophisticated implants that ultimately improve the patient's outcome. Its investment in a sound global distribution network and strategic collaboration with providers of healthcare services prove that it is working effectively to ensure product availability and maintain a competitive edge.

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