By 2030, with an expected valuation of USD 79401 million North America is the largest market of Aesthetic medicines. For the period of 2022 to 2030 the CAGR of Aesthetic Medicines is expected to be 9.9% for the North American market.
Aesthetic treatments, often known as cosmetic treatments, are non-surgical procedures that are intended to reduce the appearance of wrinkles, renew the skin, and make it look younger. Fine line and wrinkle reduction, fat reduction, stretch mark cures, scar therapy, skin oxygenation and resurrection, body contouring and firming botulinum toxin, and skin repair are all covered under medical aesthetics. Aesthetic medicine is primarily concerned with modifying a person's visual look to their liking. Scars, excess fat, skin discolouration, skin laxity, moles, and wrinkles are all treated with this procedure.
A variety of invasive, minimally invasive, and non-invasive cosmetic procedures are used in aesthetic medicine. The global medical aesthetics market is growing as the aged population becomes more aware of such treatments and accepts novel treatments. Furthermore, evolving consumer attitudes around wellness, beauty, and healthy aging have increased aesthetic awareness and acceptability, boosting demand from new patient categories like men and millennials.
The global aesthetic medicine market was worth USD 105 billion in 2021 and is expected to expand to USD 245 billion by 2030, with a CAGR of 9.8% between 2022 and 2030.
The surge in demand for minimally invasive reconstruction surgeries, as well as an increase in traffic accidents and trauma cases, are propelling the medical aesthetics market forward. The significant prevalence of congenital face and teeth malformations also contributes to the market's overall growth.
Rising technology improvements and the expansion of awareness initiatives, such as the breast reconstructive awareness campaign, are likely to create profitable chances for the market.
The United States controls the majority of the cosmetic medicine market in North America. The need for cosmetic medications in North America is being driven by a rise in reconstructive treatments. The presence of advanced healthcare facilities and qualified specialists, as well as a high disposable income, are critical factors driving the growth of the aesthetic medicine business in North America.
According to the American Med Spa Association, the majority of medical spas in the United States provide at least one energy-based therapy, with almost 70% offering laser hair removal and around 54% offering body contouring. The demand for these treatments is expected to increase as a result of this. According to the 2020 Plastic Surgery Statistics Report, almost 4,401,536 botulinum toxin type A operations were performed in the United States, placing it among the top five non-surgical procedures. This is one of the world's most extensively used anti-wrinkle products.
Rhinoplasty, facelifts, neck lifts, eyelid surgery, and eye lifts have all seen a considerable increase in popularity. According to an Allergan poll conducted in April 2020, 95% of respondents said they planned to use a neurotoxic filler treatment once COVID-19 restrictions are lifted.
Non-invasive/minimally invasive fat reduction procedures increased by 7% in the United States between 2016 and 2019, according to the American Society of Plastic Surgeons (ASPS). Nearly 13.2 million minimally invasive surgical cosmetic procedures are expected to be performed in 2021. The aesthetic medicine sector is growing as a result of the growing popularity of minimally invasive procedures and the availability of a wide range of minimally invasive treatment options.
The danger of complications linked with procedures and implants could pose a threat to the market's expansion. Additionally, The market's expansion is expected to be hampered by issues such as high treatment costs and inadequate reimbursements.
Due to increased internet purchases, the cosmeceuticals (self-care) market had a slight effect during the pandemic. Invasive and minimally invasive needs, such as aesthetic operations, saw a significant impact as a result of aesthetic facility closures and appointment postponement. The non-invasive market, which includes injectable fillers and laser-based cosmetic treatments, has experienced moderate-to-high consequences but is predicted to recover at a moderate-to-high rate.
The Federal Food, Drug and Cosmetic Act further restricts the usage of aesthetic medicines on various aspects. This acts as a major restraint for the aesthetic medicine market in the North American Region.
Private and government insurance policies may not cover all aesthetic operations. Methods primarily aimed to remove wrinkles, fats, hair removal, tattoo removal, removal of extra skin, and liposuction for the purpose of improving one's external appearance are not covered. Medicines include facial reconstructive after an accident and weight loss surgery to alleviate obesity-related concerns. The percentage of surgical treatments justified by medical reasons is smaller than the percentage of procedures undertaken for cosmetic reasons. As a result, a lack of reimbursement coverage for most operations may limit the market's total growth.
During the projected period, technological advancements provide attractive prospects for market participants. Furthermore, the critical need of optimising imaging workflows will boost the aesthetic medicine market's future growth rate.
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
North America Aesthetic Medicine Market is segmented on the basis of type, product, technology, application, end user and distribution channel.
Major North American countries outperforming in the field of Aesthetic Medicines are: