Aesthetic Market Overview
The Aesthetic Market Size is expected to reach USD 321.25 Billion by 2033. The Aesthetic industry size accounted for USD 13.41 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 13.92% from 2023 to 2033. Aesthetic refers to the principles and qualities that pertain to beauty, visual appeal, and the appreciation of art and design. It encompasses the understanding and application of artistic and design elements such as harmony, balance, proportion, color theory, and composition. In various fields, including visual arts, architecture, fashion, and graphic design, the concept of aesthetics is crucial in creating visually pleasing and impactful experiences. It involves subjective judgments and preferences based on cultural, historical, and personal factors, and plays a significant role in shaping perceptions, emotions, and overall aesthetic experiences.
Global Aesthetic Market Synopsis
COVID-19 Impact Analysis
The COVID-19 pandemic had a profound effect on the aesthetic market, leading to significant disruptions and shifts in consumer behavior. As countries implemented lockdowns, social distancing measures, and restrictions on non-essential services, the aesthetic industry, which includes sectors such as beauty salons, spas, cosmetic procedures, and skin care products, experienced a notable downturn. Many aesthetic businesses were forced to temporarily close their doors, resulting in substantial revenue loss and financial strain. Additionally, the decline in social gatherings, events, and public appearances reduced the demand for aesthetic services and products as individuals focused more on essential needs and safety precautions. The pandemic also impacted consumer confidence and discretionary spending, leading to a decrease in elective procedures and a shift towards cost-consciousness.
Global Aesthetic Market Dynamics
The major factors that have impacted the growth of Aesthetic are as follows:
Drivers:
Increasing Consumer Awareness and Demand for Aesthetic Treatments
The rising consumer awareness and demand for aesthetic treatments. With the advent of social media and the influence of celebrities and influencers, there has been a significant increase in the visibility and promotion of aesthetic procedures and products. Consumers are increasingly seeking ways to enhance their appearance, improve self-confidence, and address specific aesthetic concerns. This growing awareness and desire for aesthetic enhancements drive the demand for a wide range of treatments, including non-invasive procedures, cosmetic surgeries, skincare products, and beauty services.
Restraint:
- Regulatory and Safety Concerns
Aesthetic treatments and procedures, particularly invasive ones, involve certain risks and potential complications. Regulatory bodies have implemented guidelines and standards to ensure patient safety and prevent unqualified practitioners from performing aesthetic procedures. However, the enforcement of these regulations may vary across regions, leading to inconsistencies in quality control and patient safety. Additionally, cases of unethical practices, malpractice, and adverse events associated with certain aesthetic treatments have raised concerns among consumers. These safety and regulatory issues can create a sense of hesitancy and caution among potential customers, impacting the growth of the aesthetic market.
Opportunity:
Technological Advancements and Innovation
Technological advancements and innovation present significant opportunities in the aesthetic market. The development of new technologies and techniques has led to the emergence of minimally invasive procedures, advanced skincare products, and sophisticated devices for aesthetic treatments. For example, the introduction of laser technology, radiofrequency devices, and energy-based platforms has expanded the range of non-surgical options available to consumers. These innovations offer reduced downtime, improved efficacy, and enhanced patient comfort, driving the demand for aesthetic treatments. Moreover, the integration of digital tools, artificial intelligence, and virtual reality has revolutionized treatment planning, patient consultations, and outcome predictions, providing personalized and realistic expectations for individuals considering aesthetic procedures. The continuous research and development in the field of aesthetics contribute to the expansion of the market and open doors for novel advancements and breakthroughs.
Aesthetic Market Segment Overview
By Procedure
Based on the Procedure, the market is segmented based on Invasive Procedures, Non-invasive Procedures. The Non-invasive Procedures segment was projected to hold the largest market share in the Aesthetic market. Advancements in technology and the development of innovative devices have improved the efficacy and safety of non-invasive treatments, further boosting their demand. Additionally, the preference for less invasive options, driven by factors such as reduced downtime and lower risks, has led to a shift from traditional surgical procedures to non-invasive alternatives.
By Gender
Based on Gender, the market has been divided into males and Females. The Female segment is expected to hold the largest market share in the Market. This is attributed to several factors, including the cultural, societal, and personal factors that drive women’s interest and demand for aesthetic treatments and products. Women have been more inclined towards aesthetic procedures as they often face societal pressure and expectations related to beauty standards. The desire to enhance their appearance, address specific aesthetic concerns, and boost self-confidence are common motivators for women seeking aesthetic treatments.
By End-user
Based on End-user, the market has been divided into Clinics, Hospitals and Medical Spas, Beauty Centers, and Home Care. The Hospitals and Medical Spas segment is projected to experience significant growth in the Aesthetic market. Hospitals and medical spas have a distinct advantage in terms of trust and credibility. Patients often prefer to undergo aesthetic procedures in a healthcare setting where they can have access to medical professionals who can ensure safety and provide expert guidance. The presence of trained healthcare professionals, such as dermatologists, plastic surgeons, and aesthetic nurses, instills confidence among patients seeking aesthetic treatments.
Global Aesthetic Market Regional Analysis
Based on region, the market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. The area of North America is anticipated to dominate the market for the usage of Aesthetics, followed by those in Asia-Pacific and Europe.
North America Market
North America has consistently held the largest market share in the aesthetic market due to several factors. The region’s high disposable income, strong consumer demand, and well-established healthcare infrastructure contribute to its dominant position. With a culture that places importance on appearance and self-care, North American consumers are more inclined to invest in aesthetic treatments and products. The region is home to a large number of aesthetic clinics, medical spas, and experienced practitioners offering a wide range of procedures, including both surgical and non-invasive options. Furthermore, North America is at the forefront of technological advancements in the aesthetic field, driving innovation and attracting patients seeking the latest and most advanced treatments. Combined, these factors have solidified North America’s position as the leading market for aesthetic procedures and contributed to its consistent market share dominance.
Asia Pacific Market
The aesthetic industry in the Asia-Pacific region has been experiencing remarkable growth. Several factors contribute to this upward trend. Firstly, the region’s rapidly growing middle-class population, along with increasing disposable income levels, has fueled the demand for aesthetic treatments and products. As individuals have more financial resources, they are seeking ways to enhance their appearance and improve their self-confidence. Secondly, shifting beauty standards and cultural influences play a crucial role. The Asia-Pacific region has its unique beauty ideals and cultural preferences, which drive the demand for specific aesthetic procedures tailored to those standards. Additionally, advancements in technology and medical expertise in the region have made aesthetic treatments more accessible, safer, and more affordable, further contributing to the industry’s growth. The presence of a large and diverse market, coupled with favorable demographic trends, positions the Asia-Pacific region as a key growth hub for the aesthetic industry.
Competitive Landscape
The competitive landscape includes key players (tier 1, tier 2, and local) having a presence across the globe. Companies such as Merz Aesthetics, Galderma, Alma Lasers, Cynosure, and Syneron Candela are some of the leading players in the global  Aesthetic Industry. These players have adopted partnership, acquisition, expansion, and new product development, among others as their key strategies.
Key Market Players:
- Allergan (AbbVie)
- Merz Aesthetics
- Galderma
- Alma Lasers
- Cynosure
- Syneron Candela
- Cutera
- Lumenis
- Sciton
- Venus Concept
Key development:
In March 2022, 7e Wellness, a brand based in the United States, introduced its Myolift Mini device. This innovative device is designed for effortless anti-aging treatments, specifically skin-lifting, and can be used up to three times a week. The launch of the Myolift Mini brings advanced skincare technology to India, offering users convenient and effective solutions for achieving youthful and rejuvenated skin.
Scope of the Report
Global Aesthetic Market, by Procedure
- Invasive Procedures
- Non-invasive Procedures
Global Aesthetic Market, by Gender
- Male
- Female
Global Aesthetic Market, by End-user
- Clinics
- Hospitals and Medical Spas
- Beauty Centers
- Home Care
Global Aesthetic Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Aesthetic Industry trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities analysis in the future
- Historical market size for the year 2021, and forecast from 2023 to 2033
- Aesthetic market share analysis for each segment
- Competitor analysis with a comprehensive insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted by the key players including new product development, mergers and acquisitions, joint ventures, collaborations, and partnerships.
- To identify and understand the various factors involved in the global Aesthetic market affected by the pandemic
- To provide year-on-year growth from 2022 to 2033
- To provide short-term, long-term, and overall CAGR comparison from 2022 to 2033.
- Provide Total Addressable Market (TAM) for the Global Aesthetic Market.
| Parameters | Indicators |
|---|---|
| Market Size | 2033: $321.25 Billion |
| CAGR | 13.92% CAGR (2023-2033) |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Procedure, Gender, End-user |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, Middle East, Africa |
| Key Vendors | Allergan (AbbVie), Merz Aesthetics, Galderma, Alma Lasers, Cynosure, Syneron Candela, Cutera, Lumenis, Sciton, Venus Concept |
| Key Market Opportunities | • Expansion of non-invasive and minimally invasive procedures • Advancements in technology, such as laser treatments and energy-based devices • Integration of digital tools and virtual consultations for personalized treatment planning |
| Key Market Drivers | • Increasing consumer demand for aesthetic procedures and products • Growing disposable income and rising middle-class population • Shifting beauty standards and cultural influences |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Aesthetic Industry trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities analysis in the future
- Historical market size for the year 2021, and forecast from 2023 to 2033
- Aesthetic market share analysis for each segment
- Competitor analysis with a comprehensive insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted by the key players including new product development, mergers and acquisitions, joint ventures, collaborations, and partnerships.
- To identify and understand the various factors involved in the global Aesthetic market affected by the pandemic
- To provide year-on-year growth from 2022 to 2033
- To provide short-term, long-term, and overall CAGR comparison from 2022 to 2033.
- Provide Total Addressable Market (TAM) for the Global Aesthetic Market.
