Q. What is the growth rate of medical aesthetics market?
What is the growth rate of medical aesthetics market?
The Medical Aesthetics Market report has recently been added to Stratview Research’s offering. This report shows lucrative growth opportunities in the industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, dynamics, and key market players.
The medical aesthetics market was estimated at USD 9.3 billion in 2021 and is likely to grow at a CAGR of 10.7% during 2022-2028 to reach USD 18.94 billion in 2028.
Medical aesthetics includes all medical procedures and treatments to help patients achieve their aesthetic goals by improving their cosmetic appearance of patients.
The medical aesthetic market was significantly affected by the pandemic in the year 2020. The market experienced negative growth owing to the reasons like reduced product demand, limited operations, lockdown leading to the closure of beauty centers, and supply chain disruption. However, after the pandemic, there was an increase in the demand for cosmetic surgeries and the market is expected to experience a robust growth in the forecast period.
The growth of the medical aesthetics market is primarily driven by:
• Increasing demand for minimally invasive and non-invasive aesthetic procedures,
• Growing awareness of cosmetic procedures,
• Rising disposable income,
• Prevalence of skin diseases,
• Technological advancements,
• Rising expenditure on cosmetic surgeries and growing demand for medical aesthetics to improve physical appearance.
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