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Aesthetics Market Overview
The aesthetics market is expected to reach USD 12,175.1 Million by the end of the appraisal period, says Market Research Future (MRFR). The market could acquire a healthy CAGR of 10.08% in the given timeline.
Rising focus among people on looking younger and more fit raises the demand for a variety of aesthetic treatments, with this trend gaining popularity in developing countries as well. Aesthetic procedures such as Botox injections, liposuction, and nose reshaping have gained the attention of a surging number of consumers in Singapore, India, and South Korea.
The aesthetics industry is inundated with several renowned vendors that indulge in strategic competition, eyeing a better position. This leads to fierce rivalry in the aesthetic industry. The different strategies employed by the companies include mergers and acquisitions, new product launch, collaborations, agreements and more. To cite a reference, in December 2021, CUTERA INC., a reputed developer of light, laser, and various energy-based aesthetic devices, introduced an upgraded version of truSculpt flex, its popular muscle building technology. The truSculpt flex+ rapid treatment mode enhances the performance and quality of the Multi-Directional Stimulation, providing the same firming, strengthening, and toning results but in a fraction of the time.
A major trend emerging in the worldwide aesthetics market can be the surging demand for minimally invasive aesthetic procedures. On top of that, the mushrooming elderly population increasingly opting for a variety of aesthetic procedures also add to the market value. The emergence of new technically advanced and user-friendly devices coupled with the rising number of men opting for aesthetic treatment will further strengthen the aesthetics market position in the ensuing years.
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Aesthetics Market Segmentation
Procedures as well as end-user have been considered major segments with respect to which the global market for aesthetics has been reviewed extensively in the research study.
The key procedures covered in the aesthetics market study include nonsurgical aesthetic procedures coupled with surgical aesthetic procedures. Intensifying demand for non-invasive aesthetic procedures will favor the nonsurgical aesthetic procedure section in the future. Non-surgical procedures note substantial demand in view of the host of advantages, such as zero scar, lower downtime, lesser treatment costs, reduced risks and no need for hospitalization.
Top end users listed in the review study are dermatology clinics & cosmetic centers, salons & spas, along with hospitals & clinics. Salons & spas will obtain the fastest CAGR in the following years, thanks to the escalation in the number of medical spas all over the world and the surging deployment of technologically innovative equipment. The mushrooming population of skilled and experienced cosmetic professionals coupled with a trained staff that conduct the aesthetic procedures in salons and spas will further elevate the segment’s position in the worldwide aesthetics market.
Aesthetics Market Regional Insight
The aesthetics market has been regionally segregated into Europe, the Middle East & Africa or MEA coupled with the Americas, and Asia Pacific or APAC.
The Americas, divided into North America as well as Latin America, is the biggest aesthetics market in the world. The American market’s dominance can be accredited to the highly developed healthcare sector in line with a sophisticated infrastructure. The soaring cases of skin disorders among people, surging popularity of a variety of cosmetic procedures and the extensive pool of skilled & board-certified medial staff and surgeons foster the aesthetics market share in the region.
The European aesthetics market can be split between Western Europe and Eastern Europe. Western Europe has a number of developed economies such as Germany, France, the UK, Spain, and Italy with well-defined, robust healthcare infrastructures. This, in addition to the high spending capacity of the consumers in these countries, makes Western Europe the better performing market in the region. The European market benefits from the strong support of the government in terms of funds and new initiatives, surge in research & development efforts and the leading vendors focusing on business expansion.
The Asia Pacific aesthetics market is led by Japan, India, Australia, South Korea, and China. APAC will be thriving at the fastest rate between 2020 and 2027, given the soaring number of cosmetic professionals, and the escalating use of modern techniques. The availability of affordable treatment options attracts a huge number of overseas travellers, giving a significant boost to the medical tourism sector in the region.
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Aesthetics Market Top Firms
Obagi Medical, Dermalogica, Medik8, Neostrata, Kiehl’s, Clarins, Clinique, Skin Medica, ZO Skin Health Inc., IS Clinical, SkinCeuticals, Biore, Alumier MD, Swisscode, Elemis Ltd, PCA Skin, Endocare, Lancome, Teoxane, La Roche-Posay have been profiled in the MRFR review study as the top aesthetics products and technology developers in the market.
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