Aesthetic Medicine Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Product Type (Body Contouring Devices, Breast Implants, Hair Removal Devices, Skin Aesthetic Devices, Others); Procedure Type [Invasive(Breast Augmentation, Liposuction, Nose Reshaping, Tummy Tuck) Non-Invasive (Botox Injections, Chemical Peel, Laser Hair Removal)]; End-Users (Clinics, Hospitals, and Medical Spas, Beauty Centers, Home Care); and Region & Country.

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143

Table:

52

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77

Report ID:

UMHE21263

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Report Description
Table of content
Research Methodology

Report Description

Aesthetic Medicine Market is expected to exceed the market valuation of more than US$ 19.3 billion in 2027 and is expected to grow at a significant CAGR of 10.5% during the forecast period (2021-2027). Aesthetic medicine consists of all medical procedures that aim to improve one’s physical appearance. They can be performed using non-invasive and minimally invasive procedures. Dermatologists and plastic surgeons are the main specialists in aesthetic medicines; however, other specialists also offer services to address the aesthetic needs of the patients. These procedures can be performed under local anesthesia while some do not require anesthesia at all. Plastic in plastic surgery comes from the Greek word plastikos, which means mold or to give form. This is what plastic surgery essentially is, it is a surgical specialty that enhances a person’s appearance and reconstructs their facial and body tissue defects which could be caused by trauma, illness, or can be birth disorders. Plastic surgery can be performed in any part of the anatomy except the central nervous system. The increasing cosmetic surgery culture among millennials is causing an upsurge in the aesthetic medicine market. An increase in the number of cosmetic surgery and the cultural acceptance of the procedures are also reasons for the growth in the aesthetic medicine market.

According to the American Society of Plastic Surgery, 18 million people in the United States underwent cosmetic procedures in 2018. This is almost a quarter-million more than 2017. In 2019, 15 million surgical and non-surgical cosmetic procedures were performed in the United States. Even though the pandemic has temporarily decreased the number of cosmetic procedures being performed, surveys show that in the long run people are now more willing to undergo cosmetic procedures than before. This growth in the acceptance of cosmetic procedures is very beneficial for the growth of the aesthetic medicine industry in the coming years.

Top Plastic Surgery Countries (#), 2019

Allergan, Galderma Laboratories, Merz Pharmaceuticals, Alma Lasers, Johnson & Johnson, Anika Therapeutics, Lumenis, Cynosure, Cutera, and Solta Medical are some of the prominent players operating in the Aesthetic Medicine market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative technologies/services.

Insights Presented in the Report

“Amongst Procedure Type, Breast Augmentation segment holds the major share”

Based on procedure type, the market is bifurcated into invasive and non-invasive procedures. Invasive procedures are further fragmented into breast augmentation, liposuction, nose reshaping, tummy tuck, and non-invasive procedures into botox injections, chemical peel, laser hair removal. Breast Augmentation was the most common cosmetic procedure in 2019, even though there was a 3.6% decrease in the number of procedures from 2018. In the last 5 years, there has been a 20.6% increase in breast augmentation procedures. Also, there was a 10.7% increase in implantation removal surgeries.

“Amongst Product, Breast Implants segment holds the major share”

Based on product, the aesthetic medicine market is fragmented into facial aesthetic products, body contouring devices, breast implants, hair removal devices, skin aesthetic devices, and others. Breast augmentation is the most performed aesthetic treatment. Breast Implants are thus the most consumed products. Facial aesthetic products and hair removal devices are also gaining popularity. According to the aesthetic society, 103,593 women and 14,999 men have undergone hair removal treatments in 2018. The increasing popularity of all these treatments is increasing the awareness about aesthetic procedures among people and more and more people are willing to undergo cosmetic procedures in the coming years according to the survey by the International Society of Aesthetic Plastic Surgery

“Amongst End-User, Clinics, Hospitals, and Medical Spas segment holds the major share”

Based on end-user, the aesthetic medicine market is fragmented into clinics, hospitals, and medical spas, beauty centers, and home care. Most aesthetic procedures are performed in clinics, hospitals, and medical spas as they are the best advertisers of these treatments. Additionally, they are also the most qualified. The popularity of cosmetic procedures is increasing continuously, and as people become more aware and want the highest qualified surgeons to perform the treatments and are willing to spend more money on the treatments as well. A plastic surgeon earns US$ 444,008 on an average in a year, which is approximately US$ 213 an hour in the United States.

“North America represents one of the largest markets of Aesthetic Medicine market”

For a better understanding of the market dynamics of the Aesthetic Medicine market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. North America dominated the market and grabbed around XX% market share owing to an increase in acceptance of aesthetic procedures by society and high-end healthcare infrastructure.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

Aesthetic Medicine Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

1.1.Market Definitions
1.2.Objective of the Study
1.3.Limitation
1.4.Stake Holders
1.5.Currency Used in Report
1.6.Scope of the Aesthetic Medicine Market Study
2.1.Research Methodology for the Aesthetic Medicine Market
 2.1.1.Main Objective of the Aesthetic Medicine Market
3MARKET SYNOPSIS
4EXECUTIVE SUMMARY
5COVID-19 IMPACT
6.1.Invasive Procedures
 6.1.1.Breast augmentation
 6.1.2.Liposuction
 6.1.3.Nose reshaping
 6.1.4.Tummy tuck
6.2.Non-invasive Procedures
 6.2.1.Botox injections
 6.2.2.Chemical peel
 6.2.3.Laser hair removal
7.1.Facial Aesthetic Products
7.2.Body Contouring Devices
7.3.Breast Implants
7.4.Hair Removal Devices
7.5.Skin Aesthetic Devices
7.6.Others 
8.1.Clinics, Hospitals, and Medical Spas
8.2.Beauty Centers
8.3.Home Care
9.1.NORTH AMERICA AESTHETIC MEDICINE MARKET
 9.1.1.United States of America
 9.1.2.Canada
 9.1.3.Rest of North America
9.2EUROPE AESTHETIC MEDICINE MARKET
 9.2.1.United Kingdom
 9.2.2.Germany
 9.2.3.France
 9.2.4.Spain 
 9.2.5.Italy
 9.2.6.Rest of Europe
9.3.ASIA-PACIFIC AESTHETIC MEDICINE MARKET
 9.3.1.China
 9.3.2.Japan
 9.3.3.India
 9.3.4.Australia
 9.3.5.Rest of Asia-Pacific
9.4.REST OF THE WORLD AESTHETIC MEDICINE MARKET
10LEGAL AND REGULATORY FRAMEWORK
11.1.Demand Side Analysis
11.2.Supply Side Analysis
 11.2.1.Top Product Launches
 11.2.2.Top Business Partnerships
 11.2.3.Top Business Expansions, Investments and Divestitures
 11.2.4. Top Merger and Acquisitions
12VALUE CHAIN ANALYSIS
13AESTHETIC MEDICINE MARKET TRENDS & INSIGHTS
14.1.Drivers 
14.2.Challenges
14.3.Impact Analysis
14.4.Opportunity
15.1.Aesthetic Medicine Market Share, by Company 2020
16.1.Allergan 
16.2.Galderma Laboratories
16.3.Merz Pharmaceuticals
16.4.Alma Lasers
16.5.Johnson & Johnson
16.6.Anika Therapeutics
16.7.Lumenis 
16.8.Cynosure 
16.9.Cutera 
16.10.Solta Medical
17DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Aesthetic Medicine market were the three major steps undertaken to create and analyze the adoption of Aesthetic Medicine in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Aesthetic Medicine market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Aesthetic Medicine through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Aesthetic Medicine market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as procedure type, product and end-user. Further country-level analyses were conducted to evaluate the overall adoption of Aesthetic Medicine in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Aesthetic Medicine. Further, we conducted factor analysis using dependent and independent variables such as the rise of acceptance among people and the development of new treatments. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Aesthetic Medicine sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Aesthetic Medicine market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Aesthetic Medicine across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Aesthetic Medicine market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Aesthetic Medicine market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the Aesthetic Medicine market.

The main objective of the Aesthetic Medicine Market Study

The current & future market trends of Aesthetic Medicine were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Aesthetic Medicine in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type and their subtypes
  • Define and analysis of the regulatory framework for the Aesthetic Medicine industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Aesthetic Medicine market for the major region
  • Major regions studied in the report include North America (the U.S, Canada, and Rest of North America), Europe (Germany, United Kingdom, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and the Rest of World
  • Company profiles of the Aesthetic Medicine market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry