Aesthetic medicine market share worth £1082 million by 2027

The report showed that the surging count of manufacturers developing innovative aesthetic devices resulting in heightened demand for aesthetic treatments currently is set to drive the market with the increasing count of cosmetic surgeries and aesthetic treatments like liposuction owing to soaring attention paid to physical appearance in the modern day.

Geography

Geographically, North America accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the rapidly altering attitude of people towards beauty, wellness and ageing resulting in surging awareness and adoption of aesthetic medications and procedures like liposuction. Many principal businesses are focusing on the US market, with product innovation collaborations having a key impact on the market size in the region.

The expanding inclination of people to look youthful is resulting in a boost in demand for aesthetic treatments in developing countries but the soaring cost of aesthetic treatments, reduced reimbursements and concerns over botched results with implants are some of the major factors hampering the growth of the industry.

Product

The implants market is estimated to grow fastest with a compound annual growth rate (CAGR) of 4.5% during the report’s forecast period, owing to the rise in patient demand for facial aesthetic medical treatments, spending power and an increase in the use of breast implants in patients who have had mastectomy surgeries.

Application

The non-surgical segment was shown to hold the largest market share in 2021. The increasing predominance of obesity coupled with the relative ease of conducting non-surgical aesthetic techniques is credited with boosting demand. The surgical segment is estimated to grow with the fastest CAGR of 4.9% during the period owing to an increase in the demand for facial treatments such as eyelid surgery, nose surgery, neck lifts, facelifts, lip enhancement and other procedures like liposuction and brachioplasty around the world.

The report identified the sector’s ‘top five players’ as Merz Aesthetic, Dermaceutic Laboratoire, Revance Galderma, Abbvie Inc and Cynosure.