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Medical Aesthetics Industry is Expected to Expand Globally

AuthorNatural Clinic
Published26.March.2021
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The medical aesthetics industry was worth $9.4 billion in 2020. It is expected to expand at a compound annual growth rate of 10.37% in seven years. The demand for creative and innovative devices for aesthetics is increased because of the expansion in aesthetic treatment demands recently.

 

The market growth is driven by factors such as;

 

  • The increasing approval of minimally invasive and non-invasive aesthetic procedures,
  • Rising appropriation between geriatrics,
  • The general knowledge of cosmetic procedures,
  • The availability of technologically innovative and user-friendly devices,
  • The growing demand for aesthetic treatments among males.

Effects of the Pandemic

 

The Covid-19 pandemic had a significant impact on the medical aesthetics industry. Initially, the industry was adversely affected by social distancing and a considerable decrease in profits. The sector endured a period of short-term negative expansion due to factors such as decreasing demand, limited treatments, and temporary clinic closures.

 

On the other hand, remote employment has increased the amount of time spent on video calls. Adults are profoundly concerned with their body appearance. While they are looking at themselves on screens, more people are opting for face and neck lifts, cosmetic dentistry, and hair restoration to maintain a professional look. Cosmetic procedures are also becoming more prevalent with patients due to the ease with which they can recover while staying at home.

 

Insights into Procedure Types

 

Non-invasive treatments dominated the aesthetic medicine market in 2020, accounting for 54.3% of overall revenue. The segment is expected to grow at the most rapid rate during the forecast period. Non-invasive treatments are in high demand for various reasons, including diminished pain, quicker performance, and lower costs.

 

Simultaneously, breast augmentation remains the most conventional cosmetic surgical treatment, accounting for 16.8% of all procedures. According to the ISAPS survey, breast augmentation, liposuction, eyelid surgery, abdominoplasty, and rhinoplasty are the top five most common surgical procedures. The top nonsurgical procedures remained the same in 2020. Such as: botulinum toxin, hyaluronic acid, hair removal, nonsurgical fat reduction and photo rejuvenation.

 

Aesthetics Market in Turkey

 

In recent years, Turkey has invested millions of dollars into its health industry. Investments invite international guests and contribute millions to health tourism. According to a portion from the health tourism sector, the latest projections are expected to outperform 2020 figures.

 

Per year, over 100,000 foreigners undergo plastic surgery and surgical treatments in Turkish clinics. They prefer Turkish plastic surgeons because of the high-quality treatment and affordable prices, which are two or three times less lucrative than in the United States or Europe.

 

With plastic surgery being a more substantial force of international medical tourism, it’s easy to see why Turkish clinics are becoming worldwide hotspots for cosmetic surgery. When it comes to plastic surgery, we should thank Turkish surgeons for their unrivaled abilities, attention, and determination.

 

According to Forbes, Turkey is one of the top ten countries for medical tourism. Moreover, the sector is projected to develop over the next five years.

 

References:

  • Aesthetic Medicine Market Size, Share & Trends Analysis Report By Procedure Type (Invasive Procedures, Non-invasive Procedures), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2021 – 2028
  • Medical Aesthetics Market Product (Botox, Dermal Filler, Liposuction, Cellulite Reduction, Fat Reduction, Skin Tightening, Breast Implant, Tattoo Removal, Thread Lift), End-User (Clinic, Medical Spa, Hospital, Beauty Center) – Global Forecast to 2025
  • Research and Markets. “Global Aesthetic Services Market Report 2020: Market Is Expected to Slump by -8.7% in 2020 and Recover and Grow to Reach US$24.9 Billion by the Year 2027.” GlobeNewswire News Room, Research and Markets, 4 Dec. 2020.
  • “ISAPS INTERNATIONAL SURVEY ON AESTHETIC/COSMETIC PROCEDURES PERFORMED IN 2019.” International Society of Aesthetic Plastic Surgery, ISAPS, 2020.

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