Global aesthetics industry could be worth $73.6bn (£56.75bn) by 2022

A CAGR of 5.5% over the next five years is expected to see the global aesthetics industry grow to $73.6bn (£56.75bn) in 2022, according to a report by Research and Markets.

Its latest report The "Global Medical Aesthetics Industry: Injectables, Energy-Based Devices, Cosmeceuticals, Cosmetic Surgery, Facial Aesthetics, Implants, Cosmetic Tourism. Market Analysis & Forecast to 2022" says the current market worth is $53.3bn (£41.10bn) for both service and product revenue. 

Currently, invasive aesthetic procedures generate revenues of over $27.8bn (£21.44bn), annually. The analysis indicate that by 2022, invasive aesthetic procedures will grow at a CAGR of 4.3%. Non-invasive procedures generate approximately $16.7bn (£12.88bn) per annum and will grow at a CAGR of 4.5% over the coming five years. Cosmetic surgery products generated $8.8bn (£6.79bn) in 2016 and have the potential to reach $15.3bn (£11.80bn) in 2022. 

The North American market accounts for about 45% of the global market. However, the dominance of the U.S. is shifting towards Asia, particularly in the energy- based devices segment. Asia is regarded as the next frontier and the number of physicians and clinics in China and India has been steadily rising, along with medical tourism in the region. In the injectables and devices category, the E.U. occupies the second position behind the U.S. Brazil continues to be a strong market for aesthetics and cosmetic procedures. The Russian market is also experiencing fast growth compared to many E.U. countries and the Russian market is particularly strong for devices and topicals.

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