ABSTRACT:
Estheticians are gaining value more than ever. Be it a beauty treatment consultation, medical spa, or cosmetic treatments like chemical peels and microdermabrasion, esthetic treatments in recent days have advanced to balance the physical appearance and mental and emotional well-being of the clients. New opportunities are arising for the skin care businesses or an esthetician. There has been a steady rise in the number of licensed medical aesthetic service providers with increased demand for medical aesthetic procedures. The future of medical aesthetics seems to be promising due to the growing attention to beauty, health goals, and quality of life.
This research titled: Global Medical Aesthetics Market: Challenges, Trends, Scope, & Future conducts a meticulous analysis of various dimensions related to the global medical aesthetic industry. The report identifies and discusses the current market status of the medical aesthetics industry, its key challenges, ongoing and upcoming trends, future scope, and opportunities in the sector. The medical aesthetic user analysis and the medical aesthetic service provider profile.
Table of Contents:
Introduction
An Overview of the Global Medical Aesthetics Market
Multiple Factors Drive the Medical Aesthetics Market
The Emergence of Large Aesthetics Chains and Sophisticated Providers
Trends in Medical Aesthetics
- Focus on Healthy Aging and Overall Wellness
- Preference for Minimally Invasive Treatments
- Demand For Bespoke Treatments
- Rise of Medical Tourism in Aesthetics
- Lifting of Medical Aesthetics-related Taboos Due to Awareness
- Consumers are Researching Online to Select the Most Suitable Medical Aesthetics Provider
Challenges In Medical Aesthetics
Future of the Medical Aesthetics Industry
Emerging technologies in Aesthetic Medicine:
The Demand for Medical Aesthetics Will Increase Further:
Key Findings
Conclusion
Introduction
Medical aesthetics technology is seeing a pinnacle of growth through breakthrough innovations in treatments for all skin types. It is a division of medical studies that masters skin care in the medical setting. The twenty-first century is seeing novel technologies that can promise eternal youth. Aesthetic medicine purely focuses on altering appearances in a non-invasive or minimally invasive way. Facelifts, botox, liposuction, laser hair removal, and many more aesthetic procedures are in high demand among various age groups. The medical aesthetic industry is also witnessing the launch of innovative devices and new safe and effective aesthetic treatments. Medical aesthetic clinics are using state-of-art technologies to improve treatment quality, customer experiences, and outcomes. The industry is also striving to reduce costs, mitigate supply chain issues, and eliminate certain negative perceptions hovering over the industry. Along with this increasing attraction towards aesthetic procedures, there are also indications of a few concerns regarding after-procedure complications, ethical issues, compliance, and regulatory challenges. However, with favorable demand and multiple driving factors, the medical aesthetic industry is posting better-than-expected results every quarter.
This research from GoodFirms titled: ‘Global Medical Aesthetics Market: Challenges, Trends, Scope, and Future’ aims to identify the key driving factors, top ongoing trends, and major challenges in the industry. The study also aims to uncover the future scope and opportunities in the medical aesthetic industry.
An Overview of the Global Medical Aesthetics Market
Aesthetic medicine is all about improving imperfection. The history of beautification is as old as humankind itself. Egyptians were the first to test animal oils and plant nectars to aesthetically improve the clarity, symmetry, harmony, and color of human skin. The medical aesthetics industry is currently witnessing massive transformation in terms of innovations and user acceptance. Medical aesthetics is the field of medicine that works to enhance texture, contour, and quality of skin and body. It deploys various techniques derived from and based on multiple disciplines of medicine, including plastic and cosmetic surgery, laser techniques, dermatology, and other surgical/non-surgical specialties.
It involves diagnosing, preventing, and treating skin issues like wrinkles, blemishes, acne, abnormal skin pigmentation, skin laxity, and contour irregularities. Skincare products are the most common type of medical aesthetic treatment. These products are designed to improve the appearance of the skin by reducing signs of aging or preventing future damage.
The first historical reference for any kind of aesthetic procedure is found in Sushrut Samhita, dated 6th century BC, by an ancient Indian physician, Sushrat, whom many consider the father of surgery.(1) While contemporary aesthetic procedures are highly-sophisticated, the progress took years. The urge to extend life beyond the one present on earth is not a modern notion. The efforts began in ancient Egypt when deceased Gods/Kings were preserved with a belief in the afterlife. In the first century BC, Greeks and Roman healers used aesthetic (mostly surgical methods) to change the appearance of mortal bodies. The transfer of skin patches from one part of the body to another (plastic surgery type processes) was known to the Greeks, and the word plastic itself is derived from the Greek word plastikos, meaning "to mold" or "to give form.
In the 16th century, an Italian surgeon Branca de’ Branca from Sicily, Italy, managed to reconstruct a nose. This was a significant achievement owing to the fact that such a critical procedure had to be carried out with anesthesia.(2) In 1845 AD, surgeon Johan Diefenbach successfully performed many nose surgeries solely for aesthetic purposes.(3) Since him, aesthetic procedures began to accelerate, and their influence increased manifold. In the 19th century, aesthetic processes were done to improve appearance, unlike previously when they were done for reconstructive purposes and medical reasons only.
The world wars of the 20th century compelled doctors to find better ways to improve the appearance of mutilated bodies and disfigured people. Those experiences and techniques later got assimilated and implemented into the world of aesthetics. The following years brought many changes to the aesthetic medical industry. New studies, major research breakthroughs, and technological advancements accelerated the developments in the aesthetic industry and took the industry to unprecedented levels.
Modern Aesthetic medicine is procedure-oriented, a specialty that, in many places, replaces the need for core cosmetic surgeries. With no or minimal sedation, aesthetic medicine can accomplish facial rejuvenation, tissue tightening, breast augmentation, and many more. Other medical aesthetic treatments include injectables or topical creams designed to plump up saggy areas or smooth out fine lines.
Many aesthetic processes overlap with cosmetic surgery processes, and the difference is blurring out as both processes set their premise in the medical realm and reconstructive stream.
Multiple Factors Drive the Medical Aesthetics Market
The medical aesthetic market has grown significantly in recent years due to increased attention to physical appearance and beauty. Also, patient enthusiasm for medical aesthetics is high with new-age painless procedures, advanced devices, fractional resurfacing, third-generation ultrasound-assisted Lipoplasty, advanced skin imaging, and acceptance of botulinum toxins, hyaluronic acid fillers, etc.
Sedentary lifestyles, chronic illnesses, childhood traumas, stress, and also the natural effects of age create early signs of aging. As a result, there is currently a growing demand for medical aesthetic treatments that can help improve a person’s appearance. This is driving the medical aesthetics market forward. Furthermore, individuals are becoming more aware of the benefits of healthy skin. As a result, they are starting to invest in skincare products that can help them achieve a youthful appearance.
The medical aesthetics market was valued at $10.47 billion in 2021 and is further estimated to reach $24.84 billion by 2029.(4) The global body contouring devices market size alone, valued at around 1.2 billion dollars in 2021, is expected to expand further at a CAGR of 14.3% from 2022 to 2030.(5)
WHO has termed obesity a global epidemic.(6) As more people around the world suffer from obesity and weight issues, the market for non-invasive fat reduction will expand further to see continuous growth.
Even the pandemic contributed to the increasing demand for reconstructive cosmetic surgeries
Plastic surgeons associated with The American Academy of Facial Plastic, and Reconstructive Surgery (AAFPRS) reported that the demand for reconstructive aesthetic surgeries is up by 10% in the post-pandemic period.(7) AAFPRS points it to the Zoom effect. While apps such as Instagram, Tiktok, Snapchat, and Facebook allow filtered images and videos to be posted on these social media platforms, Zoom has no such feature. People working from home can see their faces without filters. Self-scrutiny equations are high in videoconferencing; therefore, hyper-self-awareness of one’s screen image resulted in more footfalls for aesthetic procedures.
"The main areas of concern are the angle and sizes of noses, foreheads, Glabellar wrinkles, and double chins," says Dr. Steven Dayan in an interview with Entrepreneur.(8)
Medical aesthetic brands and institutions have upscaled their sales processes and marketing activities that were briefly halted due to the pandemic.
The effect of the pandemic is now over on downstream and upstream supply chain partners (considered the lifelines in the medical aesthetics business). Along with the upbeat consumer sentiments, medical aesthetics brands can hope for the best times ahead.
"Medical aesthetics is one of the fastest growing fields in the healthcare space for a multitude of reasons. Many doctors, nurse practitioners, and physician's assistants are flocking in this direction because of the profitability and freedom associated with the market. With all of the major technological advances, increased visibility in the media, and the ability to step away from an overbearing corporate medicine structure, it's really not a surprise that a growing body of practitioners is making a shift into specializing in medical aesthetics." says Dr. Jonathan M. Fields, a renowned functional medicine doctor, acupuncturist, author and public speaker who owns two integrative clinics in South Florida, including an anti-aging clinic in Boca Raton.
The Emergence of Large Aesthetics Chains and Sophisticated Providers
Cutera, Cynosure, El.En. (Elen Group), Allergan-AbbVie, Alma Lasers, Ltd., and Anika Therapeutics are some of the top aesthetic companies involved in manufacturing aesthetic products. Medical aesthetics providers such as Ouronyx and PicoClinics have high-end clinic chains in multiple countries.
North America currently dominates medical aesthetics treatments in terms of adoption, customer base, and treatment options.
North America is followed by Europe and Asia Pacific. Asia Pacific regions (particularly China and India) are witnessing the highest CAGR due to the rise in medical tourism in these regions. The availability of low-cost aesthetic procedures and state-of-art hospital infrastructure make Asia Pacific a preferred destination for medical tourism. The fact that medical tourism adds to the economic growth in the destination country is persuading many governments to promote infrastructural developments that augment medical tourism. For instance, Dubai, Abu Dhabi, and India launched online portals to facilitate medical tourism.(9)(10)(11)
Aesthetic medicine also sees increasing support and attention from Pharmaceutical Companies.
Pharma companies are going for paid marketing, direct-to-consumer reach attempts, consumer surveys, etc., to create awareness about medical aesthetic products and devices. Media coverage of new launches in the aesthetic segment has increased. Pharma giants such as Galderma, Merz, Lumenis, etc., added more products to their aesthetic portfolio in 2022.
Trends in Medical Aesthetics
Focus on Healthy Aging and Overall Wellness
Aesthetic medicine is not life-saving but life-lifting. It is not a prescribed procedure but an autonomous decision based on expert advice. As the awareness of the effects of beauty and appearance on a healthier immune system grows, more people are opting for medical aesthetics processes.
Psycho-neuro-endocrino-immunology is the study of the effects of psyche, stress, and depression on the endocrine system and how it impacts the immune system.(12) People with low self-esteem can have a weaker immune system and subsequently become more prone to infections and other diseases. Aesthetics enhances beauty, reduces stress, increases self-esteem, and positively affects health and the immune system.
A study published in the International Journal of Surgical Reconstruction reveals the botulinum toxin's impact on facial aesthetics, psychological well-being, and quality of life. The evidence-based research concluded significant improvements in patients' psychosocial well-being and quality-of-life domains in addition to their physical amelioration.(13)
Today, aesthetic medicine has become an important branch of medicine that focuses on healthy aging and overall wellness and improves the quality of people’s lives.
Increased Attention to Beauty and Appearance
More than ever, people in the age of social media are constantly fed the image of the perfect body. There is growing attention to beauty and appearance to improve self-esteem, confidence, health, and quality of life. The desire for ideal body shapes and the need to eliminate excessive fat, cellulite, etc., is also a reason for enhanced demand for medical aesthetics products (mainly the body contouring market), treatments, and devices.
Preference for Minimally Invasive Treatments
Medical aesthetics consumers’ preferences have shifted to minimally invasive treatments.
From less trauma and lower expenses to fewer complications and quick recovery, minimally invasive medical aesthetics treatments are less complex than invasive surgeries. While minimally invasive surgeries are also surgeries that can result in blood loss, organ injuries, and other complications, the risks are substantially lower than full-fledged invasive ones.
Also, generally, patients are discharged on the same day, and most procedures can be carried out on an outpatient basis. Minimal-invasive procedures are also better alternatives for patients with chronic pain issues, blood clot problems, etc.
“Minimally invasive procedures are becoming increasingly popular due to their ability to achieve results with less downtime and less risk of complications. In particular, laser treatments and injectable treatments are becoming more popular. Non-surgical treatments are also becoming more popular as patients seek out treatments that are less invasive and require less recovery time. In particular, treatments such as laser hair removal, laser skin resurfacing, and laser vein reduction are becoming more popular”, says Valentina Bolivar, Mental Health and Physical Wellness Officer.
Owing to its popularity and adoption, the non-Invasive aesthetic treatment market is expected to grow with a 9.03% CAGR during the forecast period (2023-2028), reaching $19.94 billion in 2028.(14)
Demand For Bespoke Treatments
The traditional one-size-fits-all approach is now getting replaced with bespoke treatment plans. Individual attributes like health, wealth, height, age, diet, amount of sun exposure, etc., are taken into consideration to create tailored plans for patients. Also, how one’s skin tissues react to various chemical fillers and toxins is analyzed before a full-fledged treatment is initiated. With technology, physicians are now able to customize treatment plans for their patients better. This means that patients can receive treatments specifically tailored to their needs.
Rise of Medical Tourism in Aesthetics
Medical tourism in aesthetics refers to consumers traveling across international borders for medical aesthetics treatments, including reconstructive cosmetic surgeries, therapeutic treatments for physical enhancement, etc.(15) Countries with historic spa towns, therapeutic landscapes, localities, and popular medical aesthetics treatment witness a greater influx of medical tourists.
Countries with highly-regulated and stricter norms in medical aesthetics see an influx of high-income tourists that choose to pay more to avail more professional, sophisticated, and safer treatments. As travel restrictions have already been lifted across the globe, medical tourism is expected to gain more traction.
Lifting of Medical Aesthetics-related Taboos Due to Awareness
Often framed as artificial, man-made, and unacceptable, aesthetic medicine has been a social taboo for many. Medical Aesthetics is more acceptable now socially than it was in the past, reveals Allergan’s aesthetic report.(16) Increased awareness, celebrity endorsements, and positive marketing are lifting the taboo associated with aesthetic processes, and more people are now willing to go for the aesthetic process than ever before.
Social Shift: Increasing Number of Male Patients
Men are becoming more concerned about their physical appearances. The quest for grooming is making men more receptive to aesthetic procedures. The global male aesthetics market is set to grow with a CAGR of 7.3% over the forecast period of 2018-2024.(17) There is a visible social shift that also adopts and values male beauty interventions. From gaining a competitive advantage in various professional fields to boosting the confidence quotient, men are seeking medical aesthetics options for various reasons. Men with photodamaged skin issues are seeking pigment treatment to achieve a more refreshed appearance.
While the aesthetic business is dominated by the female consumer, an increasing number of males are undertaking cosmetic procedures as social expectations around appearance and aging are challenged.(18)
Consumers are Researching Online to Select the Most Suitable Medical Aesthetics Provider
Social media coverage, posts, and tweets about aesthetic procedures have been growing. Many influencers who resonate primarily with social media users are posting updates and images of their aesthetic procedures. Most aesthetic service seekers are above-average or high-income people that are tech-savvy and like to book appointments before visiting clinics. They search online, read, compare and evaluate services intensively before selecting the best one for their purpose.
Challenges In Medical Aesthetics
While the consumption market shows full potential with the resumption of production work that is critical for the medical aesthetics business, there are concerns due to rising inflation, massive layoffs, and rising interest rates that burden brands that want to expand their businesses.
For Practitioners
Competition faced by high-end salons that offer beauty treatments
While the aesthetic procedures should be carried out by licensed medical professionals and estheticians, there are many high-end spas and salons that offer many of the medical aesthetics processes. Losing customers to salons and spas is challenging for mainstream medical aesthetic professionals. Medical spas are now outnumbering physician-based aesthetic services in 73% of major US cities.(19) Tech-savvy marketing, minimum wait time, less intimidating environment, and low pricing provides medical spa operators an upper hand over physician-based medical aesthetics.
Aesthetic providers need to maintain a competitive edge by keeping their promotional activities at par with the non-core practitioners. Failing to market services may lead potential customers to seek services from salons, spas, and even less qualified providers who are better at marketing.
After-procedure Complications and Customer Complaints
Complications may arise due to poor care after the procedure, the wrong choice of device, individual patient response to treatment, or even due to improper treatment procedure. Aesthetic surgeons may have to face customer complaints due to expected or unexpected complications. Injection-related bruising, burning sensations, inflammation, allergies, rashes, etc., are common complications reported by patients.(20)
Discontented patients due to unrealistic expectations
A study published in the European Journal of Plastic Surgery(21) reveals that people who post selfies on social media have increased social anxiety and more desire to accept and undergo cosmetic procedures. However, post-procedures images posted by others who underwent surgeries lead to unrealistic expectations in current patients.
Ethical Challenges:
While treating and reconstructing the aesthetic appearance of a deformity acquired due to a car accident, fire incident, etc., is considered normal and socially acceptable, aesthetics performed to help a patient achieve a celebrity-type similar look is ethically challenged by people as well as the medical community. The ethical aspect of medical aesthetics is very subjective, and an aesthetician may find it difficult to deal with it. A physician’s aesthetic interventions may be perceived as unethical in certain situations, especially when performing medicines on eccentric requests.(22)
Staff availability issues
When aesthetic medical facilities are unable to find or hire the right staff, it can have serious consequences. One of the main reasons for staff availability issues is that the medical aesthetic profession is growing increasingly competitive, and hospitals are struggling to find enough people who are qualified and willing to work in the aesthetic field. This is especially problematic in the area of core surgeries and other advanced medical aesthetics procedures such as Lipoplasty. Addressing staff availability issues is necessary if hospitals want to maintain a high level of service for their patients.
Maintaining the highest standards and ambiance for elite customers
As elite customers are the highest source of revenue in the medical aesthetics segment, providing the highest standards and a sophisticated experience is necessary to satisfy this demographic section. The cohort of elite customers demands hospitals with superior infrastructure, modern ambiance, and super-class facilities.
No-shows and appointment cancellations
Medical professionals rely on appointments to schedule treatments or consultations. No-shows and appointment cancellations are a challenge in the medical industry. When a patient does not show up for their appointment, it can have a number of negative consequences on the business. Filling up the vacant spot can be difficult.
Law Suits
Medical aesthetics providers may face lawsuits from disgruntled patients.(23) To reduce the chances of lawsuits, estheticians must inculcate a shared decision-making policy with the active participation of the patients in each step of the process. Proper approvals and transparency about possible complications can help estheticians avoid suits.(24)
Compliance Issues and practice management
Aesthetics practitioners have to maintain safety standards, data security arrangements, staffing compliance, standardized protocols, and patient records. Maintaining compliance-related documents and ensuring guidelines for practice management is a challenging task for medical aesthetics.
Sudden inspections from regulatory authorities
Inspections carried out without prior notice or notice that is too short to allow for adequate preparation can be a major challenge for medical aesthetic practitioners. Inspections in the medical aesthetics industry are targeted to find and flag lapses, undermanned facilities, poor sanitary conditions, loopholes in operations, and an overlook of best practices. The clinical facilities are subject to scrutiny for multiple compliance objects, including ‘consent from patients for procedures.(25) Aesthetic clinics must ensure that all procedures are carried out by accredited and qualified practitioners.
For Consumers/Patients
Risk of Complications
Complications are possible in any medical procedure, but specific complications can be identified with medical aesthetics procedures. Complications from aesthetic procedures include infections, breaks in the skin, inflammation, scarring, nerve damage (caused by anesthesia), prolonged loss of feeling in the area being operated on (known as anesthesia numbness), and bleeding. In the most serious cases, these complications can lead to disfigurement or loss of function.(26)
Most of these complications are preventable by following proper safety measures and by ensuring that adequate training is provided to the practitioner. Certain procedures may also carry a risk of complications depending on the individual patient's health status. For example, patients with certain autoimmune diseases may not be able to tolerate some types of procedures due to the risk of an immune reaction.
Treatment by a qualified medical aesthetics surgeon, prompt interventions, following the post-procedure guidelines, and continuity of care can reduce the risks of adverse reactions.
Need for Post-Procedure Care
Post-procedure care is a key component to successful outcomes in medical aesthetics, and it can be difficult for both patients and doctors to navigate. Typically, patients will need to return for follow-up appointments. Doctors also recommend post-procedure care, such as prescription medications or injections. Following the special post-procedure requirements, keeping track of any changes in appearance or pain level over time, taking care of the operated area, and maintaining a healthy diet and lifestyle habits to support the body’s natural healing process is critical during the convalescence period.
Post-procedure care following cosmetic procedures can be challenging for patients. Not every patient needs post-procedure care after an aesthetic procedure; however, some patients may require more intense care than others.
Cost of Treatments
Medical aesthetics services are generally expensive. Holistic and medical aesthetics treatment often costs hundreds of dollars per session, and this does not include the cost of prescriptions or post-procedure care. In addition, patients should be aware that many aesthetic procedures do not come with a guarantee of results. As such, it may be necessary to pay out of pocket for additional follow-up procedures. If the practitioner chooses the wrong technique, it can cause serious damage to the patient’s body. It is important to be careful when choosing a medical aesthetic treatment provider so that the patients do not end up with unexpected medical bills.
For Industry
Scarcity of Qualified Estheticians
While demand for aesthetic services is rising, most countries have a shortage of licensed medical aesthetics providers and estheticians. A shortage of licensed medical aesthetic providers and estheticians is a major challenge leading to poor patient outcomes and higher patient costs. Limited training programs, lack of specialization and funding, risks involved in the business, etc., are reasons why there is a shortage of licensed medical aesthetic providers and estheticians. In addition to lack of training, poor working conditions, high turnover rate, and poor pay are also contributing to the problem.
On the other hand, the proliferation of unlicensed aesthetic service providers is also a challenge related to patient safety. Many other beauty professionals are either practicing without authorization or are underqualified and uneducated about their field.
High Competition and Business Rivalries
The medical aesthetics business landscape has become highly crowded, with multiple players competing for the customer base. The commoditized market space compels medical aesthetics brands to differentiate themselves with quality, customer relationships, and pricing points. Amidst high competition, credentialing, high-end technology, qualified staff, better marketing tactics, customized product offerings, and personalized engagement with patients are essential to sustain and stay profitable in the market.
Coping with Ethical Challenges related to Misleading Ads
Many brands market aesthetic treatments as a panacea to patients’ personal, professional, and relationship issues. The image of the physically attractive as a confident and desirable persona that can achieve more in life is projected via misleading ads. These ads directly exploit the deep-rooted insecurities of targeted people and profit from them. However, in most cases, the brands spending more on such advertisements can deliver less than their claims. It negatively affects the consumer sentiments for the industry as a whole. Ethical challenges related to misleading ads are one of the top challenges the aesthetic industry faces.(27)
Regulatory Issues
The medical aesthetics industry is constantly navigating through regulatory issues as new laws and regulations are put into place. This can be challenging, as it often requires strict adherence to safety standards and compliance with all applicable regulations.
One of the most important regulatory issues in medical aesthetics is FDA safety guidelines. Every medical aesthetics practice must adhere to FDA safety guidelines designed to protect patients from dangerous and potentially harmful treatments.(28)This includes performing safety tests on products they sell, ensuring that they comply with all safety requirements, and ensuring that their staff has undergone appropriate training. Another key area of regulatory compliance for medical aesthetics is HIPAA, the law designed to protect patients' health information privacy. All medical aesthetics practices that collect or use any patient health information must comply with HIPAA guidelines.
Supply Issues for Key Products
In the medical aesthetics industry, product availability and consistent supply are crucial to success. Unfortunately, there are a number of issues that can disrupt the supply chain and lead to product shortages. Without multiple suppliers, proper inventory levels, and a trusted third-party logistics provider, the industry participants may face serious operational disruptions.
Pressure from Activists/Social Media to Accept all Body Forms
Pressure is mounting on the medical aesthetics industry to accept all body forms. This pressure comes from social media activists, who argue that beauty should not be based on a person's physical features. Instead, they believe that beauty is subjective and that people should be allowed to be beautiful in any way they see fit. They argue that this is the only way to create a more inclusive society, and people must stop discriminating against people based on their appearance. They believe that beauty should be judged based on traditional standards - such as symmetry, proportion, and skin tone. The debate over body form acceptability in the medical aesthetics industry is far from over, and it poses a big challenge for complete acceptance and the future survival of the industry.
Future of the Medical Aesthetics Industry
Medical aesthetics, a field that specializes in improving physical appearance and helping patients attain the best possible aesthetic results, is proliferating due to an increased focus on beauty. The medical aesthetics industry is poised for tremendous growth in the coming years. There is a growing trend of people looking for cosmetic procedures to help improve their appearance, and the medical aesthetics industry is well-positioned to meet this demand.
Emerging technologies in Aesthetic Medicine:
Many new-age technologies are helping to improve the accuracy and efficiency of medical aesthetics procedures, making them more precise and less invasive. As a result, medical aesthetics is becoming an increasingly important field, and there is a lot of potential for growth in the future.
- VR is used to create simulated environments that can be used for training or surgery. VR has also been used to create simulations of facial surgeries, which can help surgeons to make better decisions about which procedures to carry out.
- AR is used to overlay information onto reality to create realistic images of beauty treatments, which can help patients make more informed decisions about their treatments. AR is also being used to create realistic images of cosmetic surgeries, which can help patients visualize the results before they undergo the procedure.
- Artificial Intelligence (AI) has the potential to play a major role in medical aesthetics by helping to improve the accuracy and speed of aesthetic procedures. AI can help to identify individual facial features and abnormalities and then recommend the most appropriate treatment. This could improve the accuracy of aesthetic procedures and lead to more beautiful and healthy skin.
- CAD: Computer-aided design (CAD) creates 3D images of patients' faces. These images can then be used to create models of facial surgery.
- Telemedicine: AI-enabled telemedicine software can also be used to create virtual consultations. This allows patients to consult with doctors online without having to travel to their surgery.
- IoT: With connected devices and medical wearables, medical aesthetic practitioners can monitor patients' progress post-procedures. The IoT solutions provide great benefits to monitoring remotely located patients.
The Demand for Medical Aesthetics Will Increase Further:
Growing Disposable Income Enables more People to Seek Aesthetic Services
Third-world economies and emerging economies are posting increasing numbers in disposable income. This financially enables many more people to seek solutions to signs of aging. More people are now able to afford aesthetic treatments and procedures. Medical aesthetics services are one of the fastest-growing segments of the beauty industry. This is due in part to the increasing popularity of aesthetic surgery - procedures that improve the appearance of skin, hair, and nails. Aestheticians and cosmetologists are well-equipped to meet the needs of this growing market.
As the world's population continues to grow and developing countries become more affluent, there will be a corresponding increase in the demand for medical aesthetics services. In addition, medical aesthetics services are becoming more sophisticated. Today, providers are able to offer a wider range of services, from simple enhancements to more complex procedures like reconstructive surgery.
Increasing Accidents and Deformities Will Need More Reconstructive Aesthetic Procedures
Growing accidents (29), and deformities will increase the demand for medical aesthetics. This will increase the number of medical procedures used to improve and reconstruct the body's appearance. Procedures that are currently used include surgery, injections, and laser treatments. There is a rise in the number of people who are seeking to improve their appearance after experiencing accidents or other injuries. This includes things like the facial reconstruction after a car accident.
The Rise in Pollution-based Aging will Prompt more People to Seek Medical Aesthetics.
Pollution is one of the major causes of aging, and as the world becomes more and more polluted, the demand for medical aesthetics will increase. As the world becomes increasingly polluted, more people will seek medical aesthetics to restore their appearance. This is due to the increasing incidence of diseases such as wrinkles, age spots, and other skin conditions caused by pollution. As people become more aware of the impact of pollution on their health, they will increasingly seek out medical aesthetics to improve their appearance.
Demand for Botox and Lipoplasty Will Increase As Poor Diet Affects Health and Skin
As people age, they often experience a decline in their overall health, which can lead to a decline in their appearance. This decline in appearance can be exacerbated by a poor diet, which can lead to a number of skin problems, including wrinkles, age spots, and even renal problems. In addition, a poor diet can lead to weight gain, which can add to the appearance of cellulite and other skin abnormalities. As a result of all this, there is an increasing demand for medical aesthetics services - including treatments like Botox and Lipoplasty.
Aging Population around the Globe Will Lead to Greater Need for Aesthetic Procedures
One of the main reasons for this growth is the aging population. More and more people are looking for ways to improve their appearance as they age, and cosmetic procedures are one of the most effective ways to do this. In addition, there is a growing trend of people choosing cosmetic surgery over other forms of medicine due to its many benefits, such as improved self-esteem and reduced anxiety.
Low Penetration Offers More Opportunities for Exploring the Untapped Market Territories
The medical aesthetic market is one of the lowest-penetrated markets in terms of customer bases. This means there is more demand generation scope and exploration of untapped market territories. Currently, most of the aesthetic clinics are located in major urban cities. With more awareness, brands can also target, engage and garner customer bases in semi-urban areas too.
No Surgery Requirements in Most Procedures is Conducive for Growth
While a myopic view of the industry may suggest that price is the most critical barrier for aesthetic seekers, the fear of surgery and post-procedure pain are more prominent entry barriers. The growing awareness of the benefits of minimally invasive surgery - or surgery that does not require general anesthesia or surgery on major body organs. Minimally invasive procedures are often safer and more comfortable than surgical processes.
They also tend to be quicker and less costly, making them a popular choice for patients who want to improve their appearance without spending much money. In addition, minimally invasive procedures are often less scar-prone, which is another major advantage. As more people become aware of the benefits of minimally invasive surgery, the demand for medical aesthetics will continue to increase.
The availability of Low-cost Alternatives for Key Procedures will Drive the Demand Further with More Inclusion.
With the rise of the usage of technology and optimization drives by medical aesthetic providers, some of the key treatments have become more affordable, and therefore, more people will be able to access them. The low cost of treatments and the increasing popularity of beauty treatments will be one of the biggest contributing factors to the growth of medical aesthetics.
Exemplifying Synergy with Anti-aging:
Today consumers have access to a range of treatments and procedures that can reduce the visible signs of aging. From laser treatments to injectables and dermal fillers, there are countless products and services to help people look younger than their actual age. Medical aesthetics allow doctors to target specific areas of the body to improve appearance, reduce wrinkles, and rejuvenate patients' skin. With further breakthroughs in facial recognition technology, doctors can identify subtle changes in faces over time, allowing them to make even more accurate assessments of patient age and provide more effective treatments. This synergy between anti-aging and medical aesthetics will boost the demand for medical aesthetics services in the future.
Key Findings
- This field has become increasingly important as people become more aware of issues like obesity and aging and are looking for ways to tackle them.
- In recent years, there has been growing recognition of the healthcare benefits of physical appearance.
- The availability of low-cost alternatives for key procedures, such as Botox, fillers, etc., will further contribute to the growth of medical aesthetics.
- The pandemic contributed to the increasing demand for reconstructive cosmetic surgeries.
- Medical aesthetic brands and institutions have upscaled their sales processes and marketing activities that were briefly halted due to the pandemic.
- North America currently dominates medical aesthetics treatments in terms of adoption, customer base, and treatment options.
- The world is witnessing the emergence of large aesthetic chains and sophisticated providers.
- There is an increasing focus on healthy aging and overall wellness, especially since the pandemic.
- Preference for minimally invasive treatments, demand for bespoke treatments, and the rise of medical tourism in aesthetics are top trends in the aesthetic market.
- The lifting of medical aesthetics-related taboos due to awareness is one of the driving factors for medical aesthetics.
- Consumers are researching online to select the most suitable medical aesthetics provider.
- Staff availability issues, sudden inspections from authorities, after-procedure complications and customer complaints, discontented patients due to unrealistic expectations, and the competition faced by high-end salons are the top challenges faced by medical aesthetics practitioners.
- Maintaining the highest standards and ambiance for elite customers, scheduling issues due to demanding customers, no-shows and appointment cancellations, lawsuits, and ethical challenges are some of the other challenges faced by aesthetic medicine practitioners.
- Risks of complications, the need for post-procedure care, and the cost of treatments are the top challenges faced by medical aesthetics customers and patients.
- The scarcity of qualified estheticians, high competition and business rivalries, and coping with ethical challenges related to misleading ads, regulatory issues, and supply chain issues for key products are the top challenges faced by the medical aesthetics industry.
- There is growing pressure from activists/social media to accept all body forms, and it is a deterrent for the aesthetic industry.
- Growing disposable income enables more people to seek aesthetic services
- Increasing accidents and deformities will need more reconstructive aesthetic procedures
- The rise in pollution-based aging will prompt more people to seek medical aesthetics
- Demand for botox and Lipoplasty will increase as poor diet affects health and skin
- The aging population around the globe will lead to a greater need for aesthetic procedures
- Low penetration offers more opportunities for exploring the untapped market territories
- No surgery requirements in most procedures are conducive to growth
- The availability of low-cost alternatives for key procedures will drive the demand further with more inclusion
Conclusion
The medical aesthetic industry is booming. With the constant improvements in technology, people now have a wide array of options to improve their appearance. From tightening their skin with botox to filling out their lips with fillers, there are many ways to achieve that perfect selfie-ready look. Medical aesthetics is primarily concerned with how to improve physical appearance, but it is also concerned with other factors, such as health. As this field continues to grow, it will likely play an important role in shaping the future of medicine and society.
As medical aesthetics becomes more popular, providers are trying to differentiate their services and become more specialized. Through advanced research into factors such as skin tone, body shape, and fat distribution, medical practitioners can find better ways to improve a patient's appearance or help them maintain their current appearance. While the future seems bright for the medical aesthetics industry, the value it can derive in coming years will depend on how the major industry stakeholders harness the growth trends and meet consumer expectations.
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