Having held a valuation of $9.2 billion in 2017, aesthetic medicine market is projected to garner appreciable returns over 2018-2024, driven by the ongoing beauty centric social culture. Style icons are boosting the expansion of aesthetic medicine market by often changing their look with plastic surgery. This is primarily on account of the fact that an enormous amount of time and dedication is required to retain the charm of youth, not to mention the genetic makeup, that is running short as lifestyles around the world are becoming more hectic and erratic. However, rising disposable incomes have led to the masses spending money on themselves, turning to avail aesthetic medicines that are becoming more affordable, less invasive and more successful.
India Aesthetic Medicine Market, By Product, 2013 – 2024, (USD Million)
Global aesthetic medicine market is flooded with a variety of FDA-approved products. For instance, the device called EMSculpt, which has been approved by the Food and Drug Administration for fat reduction in abdomen and buttocks, is being hailed as a revolutionary technology in the aesthetic medicine industry. The device sends 20,000 electromagnetic pulses to stimulate muscles in the problem area over a 30-minute session which equals to doing as many as 20,000 squats in 30 minutes.
The EMSculpt is possibly the first tool that aims to tone muscles and is scientifically proven to be successful. The process is painless, non-invasive and studies have shown Treatment with EMSculpt can lead to a 19% reduction in abdominal fat and a 16% increase in muscle mass. EMSculpt aptly presents the positive appeal of aesthetic medicine in making it possible to gain the much-coveted abs without having to spend hours toiling at the gym or going into a sternly regulated diet regime. Having brought forth the concept of body perfection within reach, aesthetic medicine market is thus gaining quite some traction lately.
The omnipresence of social media has helped in adding a significant growth trajectory to the aesthetic medicine market as lookism and to some extent narcissism have been greatly injected in the social structure by social media which is increasingly changing body perceptions. Social media users are not only continually being exposed to perfect airbrushed celebrity images but are also taking advantage of filters available in Instagram and Snapchat and aspiring to achieve the look in real life without filters. As a consequence, many young customers opting for aesthetic medicine have been approaching plastic surgeons with micro-optimized photos of themselves that can make the whole face look better by adding millimeter level of changes all over the face.
Though this has been considered an unhealthy approach towards beauty by many, research shows that small changes in one’s appearance can boost psychological well-being. As these procedures are being viewed less as means of self-indulgent people wasting money on looking youthful and more as a means for normal, emotionally stable people opting for a way to feel confident and more professional, aesthetic medicine industry size is growing at a considerable pace.
The aesthetic medicine market has been traversing alongside a progressive path as technological advancements have come to add more non-invasive and minimally invasive procedures that avoid the cutting and sewing of skin leading to scars and considerable recovery time. Though tummy tucks, breast implants and face lifts are still prevalent, removal of brown spots, wrinkle reduction or Vampire facials and Face whisperers are gaining increasing popularity. For instance, instead of using chemicals, face whisperers use natural body tissue to smooth out wrinkled skin. Procedures that involve no chemicals like Botox or fillers are safer, faster and more convenient and are thus adding a new growth dimension to aesthetic medicine industry.
Notably, the pursuit of beauty and youth is not being bound to the female section of the population anymore and this trend is adding a considerable impetus to the aesthetic medicine industry growth. Men have been found to be increasingly approaching plastic surgeons with requests to alter their facial features and physical appearance to look more youthful and less tired. Certain industries such as IT, media and digital platforms prefer hiring more younger professionals due to stereotypes dictating that older men are often less tech savvy. Males who are a part of such industries are therefore turning to turning to aesthetic medicines and Botox to appear younger, while also showing marked interest in jawline sculpting, dermal filling as well as chemical peels and medical facials.
Aesthetic medicines are now thus, becoming more mainstream than ever before across major geographies, sans gender discrimination. On account of their consistent demand and the technological advancements in cosmetic surgery resulting in more natural looking results, aesthetic medicine market size is projected to surpass $18.5 billion by 2024.