The aesthetic medicine market covers a wide range of products such as energy-based devices, botulinum toxin, dermal fillers, and cosmeceuticals. These products are majorly utilized in aesthetic procedures like skin tightening, anti-aging, hair removal, and scar reduction. The growing consciousness among people regarding physical appearance coupled with high adoption of minimally invasive procedures are driving the growth of this market substantially. The global Aesthetic Medicine Market is estimated to be valued at US$ 147.9 Bn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising adoption of minimally invasive procedures is a key trend fueling the growth of aesthetic medicine market. Minimally invasive procedures provide results comparable to invasive surgeries but cause lesser pain and downtime. With advancements in technology, newer minimally invasive techniques such as laser therapy, injectable fillers, and injectable botulinum toxin have been introduced. These minimally invasive techniques have transformed the way cosmetic procedures are performed today and have gained widespread acceptance among customers. Coupled with superior results and convenience, minimally invasive aesthetic procedures are finding increasing adoption which is contributing to the growth of aesthetic medicine market.
Segment Analysis
The global aesthetic medicine market can be segmented based on procedure type, end use, and regional analysis. By procedure type, the non-surgical procedures segment dominates the market and accounts for around 60% share owing to rising demand for minimally invasive procedures. Non-surgical procedures such as botulinum toxin, dermal fillers, chemical peel help to reverse the signs of aging without any surgical downtime and risk of surgery. This drives the growth of this segment.
Key Takeaways
The Global Aesthetic Medicine Market Size is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis indicates that North America currently dominates the market and is expected to maintain its leading position through 2030 owing to rising awareness about aesthetic procedures and availability of advanced treatment options. Key players operating in the aesthetic medicine market include John Deere, Vermeer Corporation, Kuhn Group, AGCO Corporation, Krone North America, New Holland Agriculture, Claas Group, Kubota Corporation, Fella Maschinenbau GmbH, Sitrex S.p.A.
Key players related content comprises Key players operating in the aesthetic medicine market are focusing on new product launches and geographic expansion strategies to strengthen their market position. For instance, in 2022, Allergan Aesthetics launched SkinMedica® Neck Correct Cream to reduce the appearance of sagging skin and wrinkles on the neck.
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