Global aesthetic medicine market was worth USD 99.1 million in 2021. It is projected to grow at a compound annual rate (CAGR of 14.5%) between 2022 and 2030. In recent years, aesthetic treatments have seen a rise in demand due to the introduction of new devices by manufacturers. In the next few years, market growth is expected to be a lot more lucrative due to the introduction of new, technologically advanced products such as non-invasive body contouring that uses fat freezing technology.
Medical aesthetics encompasses all specialties that address cosmetic issues such as skin laxity and scarring, excess fat wrinkles, skin moles, liver spots or cellulite. Medical aesthetics includes medical specialties like dermatology, plastic surgery, and reconstructive surgery. Medical aesthetics can include both surgical and non-surgical procedures. Professionals may also use a combination of both. Medical aesthetics can include skin tightening, unwanted hair removal and fat removal. The majority of medical aesthetics procedures are elective, but they can enhance and promote quality of living, psychological well-being, and social engagement.
The preference for non-invasive, minimally invasive aesthetic procedures has increased over traditional surgical procedures in the last decade. Nonsurgical and minimally invasive alternatives have many advantages over traditional surgery, including less pain, less scarring, faster recovery, and a quicker recovery. These procedures can also be more affordable than traditional surgical procedures. According to the International Society of Aesthetic Plastic Surgery, there was an overall 5.4% increase in plastic and cosmetic surgery between 2017-2018.
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Medical aesthetic procedures have grown in popularity over the past 20 years. Due to an increase in doctors and surgeons offering safe and effective aesthetic treatments, and the introduction of new technologically advanced products, the market has seen a significant rise in demand for aesthetic treatments. Medical aesthetic procedures can have side effects. Aesthetic treatments can lead to complications and risks for patients.
One of the problems that has remained constant and impeded the growth of the market is the potential side effects of medical aesthetic procedures. Patients who seek the treatment are likely to encounter a range of complications and risks that can occur during the procedure.
Market Key Trends
The report will analyze the past trends in medical aesthetics market operations and then discuss the impact of coronavirus on the market. This report also aims to identify the market’s drivers and highlight any potential obstacles to its growth.
To examine the increasing needs of the target market that is distributed across the globe, which further leads to the market trends over the forecast period. Additionally, the report aims at analyzing the market structure for global medical aesthetics. It also examines the available resources to support the market growth as predicted by industry leaders.
To examine the market’s rising competitiveness in the global medical aesthetics industry based upon the collective efforts of market players, as well as the most recent developments made by them during this forecast period.
A prominent French market player, HRA Pharma, acquired a German company at the pre-pandemic stage of 2019. Merz was the company’s name. This acquisition was done to enhance the company’s product portfolio in surgical aesthetics, particularly during the forecast period.
AbbVie purchased Allergan in November 2020. It was forming a global segment, Allergan Aesthetics. The goal of this acquisition was to increase its medical aesthetics product range.
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Johnson & Johnson
Cellulite & Fat Reduction
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