North America aesthetic services market to reach $28.1bn by 2024, predicts TMR

The North America market for aesthetic services is set to grow at a compound annual growth rate (CAGR) of 7.70% from 2016 to 2024, rising from a value of $14.4bn (£11.6bn) in 2015 to $28.1bn (£22.64bn), a new research study by Transparency Market Research (TMR) has predicted. In terms of volume, the market is likely to double by 2024, reaching more than 22 million procedures. Companies operating in the sector are focusing aggressively on innovation and technical advancements and investing heavily to increase the research activities for the development of minimally invasive and less painful treatments, the report says. In the coming years, these companies are likely to introduce a number of aesthetic services, expanding their portfolio, which will further intensify competition within the market.