June 07, 2022 09:50 ET | Source: Vantage Market Research Vantage Market Research

WASHINGTON, June 07, 2022 (GLOBE NEWSWIRE) -- Modern life-style and innovative aesthetic device manufacturers are the key factors driving the Aesthetic Medicine Market. Also, the demand in aesthetic surgery such as tummy tuck (abdominoplasty), breast augmentation, breast reduction, eyelid surgery, nose reshaping (rhinoplasty), face lift and removal of fat (liposuction) are generating demand for the Aesthetic Medicine Market. Furthermore, growing awareness among the young population about cosmetic procedures fuels the market in the forecast years.

The Global Market revenue stood at a value USD 62.8 Billion in the year 2021. The Global Aesthetic Medicine Market size is expected to reach USD 107 Billion by the year 2028 and is expected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.

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Driver: Increasing Awareness for Aesthetic Treatment in the Geriatric Population

Aesthetic procedures are quite famous in the U.S. and Europe. In 2020, around 4.6 million cosmetic procedures have taken place in North America and South America. Brazil is ranking second in the aesthetic procedures with 2 million surgeries per year. In 2019, the total expenditure on aesthetic surgeries went 2 times that of non-surgical procedures. The popularity varies from region to region.

According to International Society of Aesthetic Plastic Surgery (ISAPS), there was an overall rise of 4.5% in the number of aesthetic procedures. These are few factors that are boosting the demand for aesthetic procedures among the geriatric population and thus impacting the market growth.

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Segmentation of the Global Aesthetic Medicine Market:

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Restrain: High Chances of Risk and Clinical Complications

According to an American Society of plastic surgeons, around 25,000 complications are recorded every year around the globe. The growing risks of hematoma, seroma, blood loss, infection, nerve damage, and other things are commonly seen in patients opting for aesthetic procedures. The potential damage and nerve damage might cause a permanent failure of the skin. Aesthetic procedures are operated by professional surgeons but 7% of the overall surgeons are not certified to operate these procedures, hence chances of failure might occur. These are some of the restraining factors that are hampering market growth.

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020.

Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

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The report on Aesthetic Medicine Market highlights:

North America Dominates the Global Aesthetic Medicine Market

North America held the largest market share in 2021. The U.S leads the aesthetic procedures trend and thus Aesthetic Medicine Market. The rising disposable income and growing concerns towards individual’s physical appearance is driving the demand for aesthetic procedures in this region.

Asia Pacific is poised to be the fastest growing in Aesthetic Medicine Market. Countries in APAC are witnessing high growth rates in coming years. Increasing knowledge and a growing young population is fuelling the demand for cosmetic and plastic surgery in this region.

List of Prominent Players in Aesthetic Medicine Market:

Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "Aesthetic Medicine Market Size, Share & Trends Analysis Report by Type (Surgical, Non-surgical), by Product (Energy-based, Non Energy-based, Others), by Gender (Male, Female), by End-use (Hospitals, Ambulatory surgical centers, Beauty centers and medical spas, Dermatology clinics), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/aesthetic-medicine-market-616896

In November 2020, AbbVie (US) acquired Allergan (Ireland) to form a global segment Allergan Aesthetics in order to improve its medical aesthetics product line.

In January 2019, HRA Pharma (France) acquired Merz (Germany) to enhance its product portfolio in surgical medical aesthetics.

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This market titled “Aesthetic Medicine Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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