Aesthetic Medicine Market is expected to reach US$ 233.84 billion by 2028

Rising Demand for Nonsurgical Injectable Treatments

According to our latest study on "Aesthetic Medicine Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Gender, Procedures, Technologies, End User, and Geography," the market is expected to reach US$ 233.84 billion by 2028 from US$ 102.25 billion in 2022, growing at a CAGR of 14.8% from 2022 to 2028.

Impact of COVID-19 Pandemic on Aesthetic Medicine Market.

According to the World Health Organization (WHO), as of August 2022, there were 596,873,121 confirmed cases of COVID-19 and 6,459,684 deaths. The highest number of deaths was in the Americas, followed by Europe and Southeast Asia. The COVID-19 pandemic has negatively impacted the aesthetic medicine market. Initially, social distancing and reduced income levels of consumers had a negative impact on the overall aesthetic medicine market. The short-term negative impacts included limited operations, a decline in product demand, and temporary closures of beauty parlors and medical spas. However, remote Zoom call meetings with doctors via online method increased the demand for aesthetic medicine. Rising demand from adults to retain their physical appearance has increased the demand for cosmetic surgeries, especially botox invasive treatments. As the COVID-19 cases are declining across the world, there is a demand for aesthetic treatment procedures in both developed and developing countries. For instance, at the Skin Renewal Medical Aesthetic Centre located in South Africa, a treatment with Restylane, Surgiderm, or Juvederm is priced from R2 900, and at Melrose Aesthetic Centre, Juvederm treatment costs R3 450.

Increasing Aesthetics Procedures

There is a significant rise in nonsurgical procedures and dermal injectables across the globe. According to the Global Aesthetics Consensus, in 2016, ~258,438 nonsurgical aesthetic procedures were performed in France, out of which more than 101,400 were botulinum toxin (BTX) procedures. Moreover, the expansion of cosmetology clinics and the increase in the number of cosmetology practitioners are expected to drive the botulinum toxin market further in the coming years. People from countries such as Switzerland, Romania, and Russia visit France for aesthetic procedures, owing to the advanced medical services available in the country. Moreover, in Italy, every 10th patient applying for cosmetic surgery is a tourist. The Italian Association of Aesthetic Plastic Surgery (AICPE) announced an "aesthetic alliance" with the International Society of Aesthetic Plastic Surgery (ISAPS) to develop high-quality cosmetic surgeries with enhanced patient safety.

Similarly, according to the American Society of Plastic Surgeons (ASPS), a total of 4,401,536 botulinum toxin Type A (Botox, Dysport, Xeomin) minimally-invasive cosmetic procedures were performed in the US, in which 4,136,289 were female, and 265,247 were male. In 2020, Aesthetic Neural Network (ANN) data reported total revenue of over US$ 9 billion spent on aesthetic plastic surgery.

In addition, according to the American Society of Plastic Surgeons (ASPS), in 2019, the total number of cosmetic procedures performed in India was 643,752, in which total nonsurgical procedures were 249,024, out of which botulinum toxin procedures were 70,248. Similarly, in 2019, the total number of cosmetic procedures performed in Brazil was 2,565,675, in which total nonsurgical procedures were 1,072,002 among them, botulinum toxin procedures were 507,869. Thus, increasing aesthetic procedures is likely to boost the aesthetic medicine market.

EME s.r.l; Fusion Meso; AbbVie; Galderma; Cynosure Aesthetics; Lumenis Be Ltd;  Evolus, Inc.; Solta Medical; Syneron Candela; and Alma Lasers are a few of the key players profiled during the study of the aesthetic medicine market. Several other major companies were studied and analyzed during this research study to get a holistic view of the market and its ecosystem.