Aesthetic Medicine Market – Global Industry Analysis by Trends, Top Companies, Growth Factors and Regional Forecast 2027

Aesthetic Medicine Market Expected to Exceed Market Valuation by Over US$19.3 Billion in 2027

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NOIDA, INDIA, Feb. 1, 2022 / — The demand for aesthetic medicine is witnessing a surge owing to the growing acceptance of cosmetic procedures, primarily among the female population, globally. Over the years, the popularity of cosmetic procedures has steadily increased, allowing people to enhance or change certain features of their bodies. Aesthetic medications can be administered through invasive and non-invasive procedures. In 2020, 2.3 million cosmetic surgery procedures were performed, down 14% from 2019 in the United States. In 2019, 2.67 million cosmetic surgeries were performed in the United States. In 2020, breast augmentation was the top surgical procedure performed in the United States. There were 193,073 breast augmentation procedures performed in 2020 in the United States alone. The leading non-surgical cosmetic procedure in 2020 was botulinum toxin (Botox) followed by hyaluronic acid (dermal fillers).

Covid-19 has changed the face of the global economy. In a recent survey published by the American Society of Plastic Surgeons, among 1,000 American women, 11% were more interested in plastic surgery now than before the pandemic. Women who have had cosmetic surgery before, the numbers were higher, 35% of them were ready to have surgery in 2021. This increase in demand is likely due to the fact that surgeons’ offices are closed every year or only offer limited services, thus causing a surge in demand now. For example, during the Covid-19 stay-at-home order, the number of patients visiting plastic surgeons in Rhode Island decreased by 36%.

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According to UnivDatos Market Insights (UMI) research report “Aesthetic Medicine Market Analysis, 2020”, the aesthetic medicine market is expected to exceed market valuation by more than US$19.3 billion in 2027 and is expected to grow at a significant CAGR of 10.5% over the forecast period (2021-2027). Changing societal norms are one of the major reasons driving the aesthetic medicine market. For example: there was a 14% decrease in cosmetic surgery procedures performed in the United States in 2020, compared to 2.6 million procedures performed in 2019. Additionally, there was an increase of 20.6 % of breast augmentation procedures in the last 5 years.

Based on product, the breast implants segment has acquired major chunk of the market and captured $XX million in revenue from the aesthetic medicine market in 2020. Breast implants are most common among women who receive them after a mastectomy during breast cancer or for cosmetic reasons. Typically, breast implant surgeries cost between US$5,000 and US$10,000, and since it is a cosmetic procedure, health insurance does not reimburse it.

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Clinics, Hospitals and Medical Spas Segment to See Robust Growth
On the basis of application type, the clinics, hospitals and medical spas segment grabbed XX% revenue share in 2020. The market size of this segment touched XX million US$ in 2020. Most cosmetic procedures are performed in clinics, hospitals and medical spas as these are the best advertisers of these treatments. Moreover, they are also the most qualified.

North America will grab the lion’s share and has seen explicit growth
Based on region, North America dominated the aesthetic medicine market in 2020. The region is expected to maintain its dominance during the forecast period 2021-27 owing to the increasing acceptance of aesthetic procedures by people and the societal norm to get cosmetic procedures. North America is expected to soar with a CAGR of XX% during the forecast period, as reported in UnivDatos Market Insights (UMI) research report “Aesthetic Medicine Market Analysis, 2020”.

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According to UnivDatos Market Insights (UMI), the major players with considerable market share in the aesthetic medicine market are Allergan, Galderma Laboratories, Merz Pharmaceuticals, Alma Lasers, Johnson & Johnson, Anika Therapeutics, Lumenis, Cynosure, Cutera, Solta Medical among others. The players are focusing on launching new products to attract customers and expand their geographical reach to gain a competitive advantage in the industry. Some of the cases are:
 In June 2021, Allergan Aesthetics launched “See Yourself,” a new campaign featuring the stories of real BOTOX Cosmetic patients – people of all shapes, sizes, backgrounds, colors and backgrounds.
 In May 2021, Lumenis partnered with Western University of Health Sciences College of Optometry to provide students with cutting-edge training in laser therapy treatments.
 In July 2020, Anika Therapeutics, Inc. announced the United States Food and Drug Administration (FDA) clearance and planned launch of several new product innovations that address the needs of orthopedic and sports surgeons and their patients looking to stay active by overcoming soft tissue damage.

“Aesthetic Medicine Market 2020 Analysis” provides comprehensive qualitative and quantitative information on the potential of the industry, key factors influencing sales and purchase decisions, hot spots and opportunities available for aesthetic medicine providers around the world. Additionally, the report also encompasses key strategic imperatives for competitor success as well as Strategic Factor Indexing measuring competitors’ capabilities on 16 metrics. This will help companies formulate go-to-market strategies and identify the blue ocean for their offerings.

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Market segmentation :
1. By type of procedure (invasive procedures, non-invasive procedures)
2. By Product (Facial Aesthetics Products, Body Contouring Devices, Breast Implants, Hair Removal Devices, Skin Aesthetic Devices, Others)
3. By end user (clinics, hospitals and medical spas, beauty centers, home care)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (Allergan, Galderma Laboratories, Merz Pharmaceuticals, Alma Lasers, Johnson & Johnson, Anika Therapeutics, Lumenis, Cynosure, Cutera, Solta Medical, etc.)

Answers to key research questions:
1. What are the current and future trends in the aesthetic medicine industry?
2. How has the industry evolved in terms of end-user demand and application areas?
3. How has competition shaped across countries, followed by their comparative factor indexing?
4. What are the main growth drivers and challenges for the aesthetic medicine industry?
5. What are the customer orientation, buying behavior and expectations of aesthetic medicine companies in different regions?

About Us:
UnivDatos Market Insights (UMI), is a passionate market research company and a subsidiary of Universal Data Solutions. Rigorous secondary and primary market research is our USP, which is why the information presented in our reports is based on facts and realistic assumptions. We have worked with over 200 global clients, including some of the Fortune 500 companies. Our clientele praises us for quality information, in-depth analysis, custom research capabilities, and detailed market segmentation.

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