Aesthetic Services Market Size, Share, Growth, and Industry Analysis, By Type (Surgical, Non-surgical and Reconstructive Procedures), By Application (Hospital and Beauty agency) and Regional Forecast to 2032

Updated On: 02 September 2024

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AESTHETIC SERVICES MARKET REPORT OVERVIEW

The Aesthetic Services Market size was USD 332.28 million in 2023 and the market is projected to touch USD 576.25 million by 2032, exhibiting a CAGR of 5.66% during the forecast period.

More precisely, rising popularity that leads to swelling amounts is witnessed in the market of aesthetic services. These services are meant for those who wish to improve their looks and self-esteem through treatments, which include the following – Botox injections, dermal fillers, laser hair removals and various operations that are plastic; therefore, affecting different population groups. What drives the growth of the market are developments in medicine science resulting from the increase in use of endoscopic surgeries which do not require long recovery periods to show good results; changes which have facilitated widespread adoption of beauty treatments similar to this as well as engendering greater attractiveness among different classes of people.

The market is also growing because of increased disposable income and increased consumer awareness about beauty. As the numbers of people interested in personal grooming increase, a corresponding rise in professional aesthetic services is witnessed.

Also, the increase in the quantity of specialized clinics and the increase in the number of skilled professionals that are skilled are fuelling the growth in this market. Besides, the interest of clients in aesthetic treatments is further promoted by the increased social media and celebrity endorsements.

Furthermore, the need for aesthetic services is increasing because the older generation is looking for ways to appear youthful while skin diseases are becoming more common.

COVID-19 Impact: Market Growth During Pandemic due to the social distancing measures that forced clinics and beauty agencies to temporarily close or reduce operations

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Pandemic had negative effect on Aesthetic Services market because many businesses constraining working hours or closing completely which led to social distancing measures and lockdowns being widely imposed. As the pandemic was being fought, medical resources were redirected hence elective procedures such as numerous aesthetic treatments were rescheduled or put off. Consequently, services providers experienced a fall in the volume of patients attended to as well as revenue.

Many people had less money to spend on things like beauty treatments because the pandemic made them unsure about their jobs and finances. Then they started valuing their health and safety more than just physical beauty that really reduced the desire for cosmetics.

Nevertheless, due to the pandemic, virtual consultations and telemedicine became more popular in the beauty sector, enabling providers to continue liaising with patients as well as prepare for other therapies. There has been an obvious increase in demand for cosmetic procedures with the end to restrictions driven by the Zoom Boom effect arising from increased video conferencing and individuals’ desire for aesthetic enhancements. Although it was predominantly negative at first, market readiness for resuscitation and expansion is expected following the reestablishment of the norm as well as positive response from buyers.

LATEST TRENDS

"Rising popularity of non-invasive and minimally invasive procedures to drive market growth "

There exists a noticeable trend within the Aesthetic Services market growth; that is, non-invasive and minimally invasive procedures are becoming more popular. Unlike conventional surgery, these include operations like Botox, dermal fillers, and laser therapies that lots of people prefer because they enable quicker healing periods among other things. The driving force behind this development is technological advancements that increase these operations' effectiveness and safety, making them more popular and palatable to a wider range of clients looking for minor and natural changes.

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AESTHETIC SERVICES MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Surgical, Non-surgical and Reconstructive Procedures.

• Surgical

Surgical aesthetic procedures are for instance, facelifts and liposuction that invasive methods are used to significantly change or improve someone’s physical looks. Such operations in most cases have lasting effects although they take longer to heal from and have increased chances of risks involved. They are prominent because they can bring about amazing changes.

• Non-surgical

Non-surgical aesthetic services, such as injections with Botox, dermal filling procedures and laser therapy enable us to improve our appearance with minor and often no time off. These processes are loved because they are so much more convenient compared to surgical ones with their long recovery periods as well as low chances of anything going wrong in general. They are more and more demanded when we want slight corrections which look like nothing has been done actually.

• Reconstructive Procedures

Reconstructive surgeries are meant to bring back the way you look as well as how you operate after a road accident, an operation or birth defects such as creating new breasts after removal of a mast. These services are important in enhancing the self-esteem of patients and their quality of life especially after they have been affected by specific situations. Insurance usually provides cover for such operations because they are necessary for health purposes, and they are very complex hence attracting more surgeons who specialize in them.

By Application

Based on application the global market can be categorized into Hospital and Beauty agency.

• Hospital

Highly skilled medical professionals deliver various cosmetic services, both surgical and non-surgical within hospitals. They create safe environments with access to extensive medical treatment and modern medical facilities thus guaranteeing good quality of care. For complex operations that require thorough supervision after surgery, it is best to go to hospitals.

• Beauty Agency

Beauty salons are dedicated to non-surgical cosmetic procedures such as facials, Botox injections, and dermal fillers, which are aimed at improving the appearance of clients using less invasive methods. The clients seeking comfort and convenience often patronize these salons because they are known for providing customized and deluxe services. There are so many people who come to them looking for short cosmetic treatments that save time without necessarily being taken to hospital.

DRIVING FACTORS

"Technological Advancements to Boost Market Growth"

The market is growing because of continuous improvements in using technology for beauty therapy, for example non-surgical treatments and laser treatment. This attracts a wider range of customers who desire to look more attractive, as well as recover faster time periods after surgery than previously possible. They are also becoming increasingly common due to better results during treatment and shorter times that people are not allowed to engage in daily activities.

"Increasing Consumer Awareness to Drive Market Growth"

A key role in expanding the market is played by the increased awareness of consumers and their acceptance of aesthetic services. Cosmetic procedures have become more conventional through educational campaigns and influence from social media, which has led to decreased stigmatization and hence increased demand for such services. This has seen higher uptake among different demographics as many individuals get to know about possible treatments.

RESTRAINING FACTORS

"high cost of treatments to Hinder Market Growth "

An inhibiting factor for the Aesthetic Services market is that the treatment is so costly that it may be difficult for a large proportion of the population to access. In essence what this means is that there are very sophisticated aesthetic procedures which are highly priced, and most times are not covered by insurers hence making it difficult for certain prospective clients to pay for them. Such number of processes’ tariffs eventually act as impediments against further expansion of the market, more so in communities having disposable incomes, for instance.

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AESTHETIC SERVICES MARKET REGIONAL INSIGHTS

The market is primarily segregated into North America, Europe, Asia Pacific, South America and Middle East & Africa.

North America Dominates The Market Due To The Advanced Healthcare Infrastructure And High Disposable Income Levels

The developed healthcare infrastructure North America possesses and the disposable income levels which are high within this region encourage consumer spending on aesthetic treatments leading to its market domination. The market growth in this area is additionally spurred by a high number of established aesthetic service providers and creativity. Coupled with supportive regulatory environment, high demand and awareness levels drive the market forward, supporting the rise of cosmetic procedures with time. Therefore, North America remains the leader for aesthetic services market share due to these facts.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Continuous Innovations and Expansion of Service Offerings "

Non-stop service developments and expansions are done by leading industry players so as to push for growth in the Aesthetic Services market. They pump cash into state-of-the-art gadgets, for instance, laser treatments or no bruise procedures just to mention but these few, hence targeting a wide clientele base. In so doing, they can consolidate their market position through forming strategic relationships with other companies while at the same time taking control over losses associated with service delivery. Besides that, the combination of aggressive marketing campaigns and educational programs has the result that the demand for aesthetic medical procedures and services all over the world increases significantly. These efforts have the effect of strengthening their market position within this industry as well as maintain them as leaders among other rapidly growing businesses engaged in aesthetic services provision.

List of Market Players Profiled

• Advanced Dermatology and Cosmetic Surgery (U.S.)
• DCDermDocs (U.S.)
• The Plastic Surgery Clinic (Canada)
• Dermatology solutions group (U.S.)
• The MedSpa Southwest Plastic Surgery (U.S.)
• Riverside Plastic Surgery (U.S.)
• Quatela Center for Plastic Surgery (U.S.)
• Cosmetic & Aesthetic Plastic Surgery Clinic (U.S.)
• Riverchase Dermatology and Cosmetic Surgery (U.S.)
• Marina Plastic Surgery (U.S.)

INDUSTRIAL DEVELOPMENT

January 2024: The development in the Aesthetic Services Market was announced by Allergan Aesthetics, a subsidiary of AbbVie. In the US, the latest dermal filler Juvéderm VOLUX XC was released. The product aims at improving jawline shape or form and providing face sculpting without the necessity of any surgery procedure. The present launch of Juvéderm VOLUX XC comes as more people become interested in non-surgical cosmetic treatments thus more patients will be provided alternatives in order to get desired effects but without resorting to surgery. Allergan's latest development highlights how its commitment looks after growing its extensive array of sophisticated aesthetic products and technologies.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.