Aesthetic Medicine Market Size, Share & Trends Analysis Report By Procedure Type (Invasive Procedures, Non-invasive Procedures), By Region (North America, Asia Pacific, Europe), And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the aesthetic medicine market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for aesthetic medicine market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of aesthetic medicine market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Aesthetic Medicine Market Categorization:

The aesthetic medicine market was categorized into two segments, namely procedure type (Invasive Procedures, Non-invasive Procedures), and region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The aesthetic medicine market was segmented into procedure type, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The aesthetic medicine market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eighteen countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; China; India; Japan; Australia; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Aesthetic medicine market companies & financials:

The aesthetic medicine market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Cynosure, earlier a part of Hologic, develops and manufactures a broad range of medical treatment systems and light-based aesthetic devices. The company offers different products for scar treatment, skin rejuvenation, and hair care. It markets various light-based treatments, including hair removal, body contouring, and pigmentation lesions surgical processes for acne removal. In March 2017, Cynosure was acquired by Hologic, Inc., allowing the latter to enter the medical aesthetics market. Other segments include diagnostics, breast health, medical esthetics, gynecologic surgeries, and skeletal health.

• Johnson & Johnson Services, Inc. is involved in R&D, manufacturing, and sales of a wide range of healthcare products. The company operates through three business segments - pharmaceuticals, medical devices, and consumers. Its medical devices segment offers an array of healthcare products mainly used by nurses, physicians, clinics, and hospitals. These products include insulin delivery & blood glucose monitoring products; energy, biosurgical, neurological, & orthopedic products; infection prevention products; disposable contact lenses; and professional diagnostic products. The company operates in over 60 countries across the globe.

• Galderma Pharmaceuticals is a global manufacturer that specializes in dermatology products. The company offers well-known products such as Sculptra, Dysport, Restylane, and Differin under its portfolio. It primarily focuses on six areas: acne, psoriasis, atopic dermatitis, sun protection, rosacea, and skin cancer. It provides solutions in aesthetics and prescription drugs.

• Allergan is a European company engaged in manufacturing and marketing of pharmaceuticals, medical devices, and biologic products. The company has products in medical aesthetics, regenerative & dermatology, eye care, women's health, urology, gastroenterology, and anti-infective therapeutics sectors. The company operates in over 100 countries worldwide and has manufacturing and R&D centers in the U.S., France, Ireland, the UK, Germany, Brazil, China, and Japan, among other countries.

• Solta Medical is a division of Valeant Pharmaceuticals International, Inc. The company has expertise in aesthetic energy devices that are used in areas such as skin resurfacing and rejuvenation, body contouring, acne reduction, skin tightening, and liposuction. In 2014, Solta Medical was acquired by Valeant Pharmaceuticals International and in 2018, the company changed its name to Bausch Health Companies, Inc.

• Candela Medical is an aesthetic devices company. The company’s offerings are in the areas of hair removal; body contouring; treatment of acne, leg veins, & cellulite; tattoo removal; wrinkle reduction; and improving skin appearance through treatment of superficial benign vascular & pigmented lesions. It offers products under three brands: Candela, CoolTouch, and Syneron. The company has its presence in around 86 countries, including Germany, Portugal, Spain, the UK, France, Japan, the U.S., Australia, China, and Hong Kong. In 2019, Syneron Candela rebranded itself as Candela to demonstrate the unification of Candela and Syneron brands.

• Lumenis is an Israel-based company that manufactures and supplies equipment & solutions in the aesthetics & beauty space. It is known for its minimally invasive clinical solutions and energy-based technologies, including Laser, Intense Pulsed Light (IPL), and Radio-Frequency (RF). The company has global presence in over 100 countries. It serves technology in treatment areas of hair removal, scars & tattoo removal, skin remodeling, and vascular lesions.

• Alma Lasers is involved in the designing, manufacturing, and marketing of medical lasers, RF, and ultrasound-based integrated portfolio for aesthetics & medical industry. The company was incorporated in 1999 and has a presence in over 60 countries worldwide. The company is known for its aesthetic treatment product line, especially Pixel, which is a skin rejuvenation technique based on resurfacing technology. Shanghai Fosun Pharmaceutical (Group) Ltd. acquired a 95.20% share of Alma Lasers Ltd. in 2013.

• Revance Therapeutics, Inc. is a biotechnology company that manufactures aesthetic and therapeutic products, as well as financial technology services for aesthetic practices. The company’s Daxibotulinumtoxin A is currently under investigational study but has reported positive results from Phase III Clinical trials. The company also manufactures hyaluronic acid fillers for treatment of wrinkles.

• Merz Pharma is an aesthetic and neurotoxin manufacturing company headquartered in Germany. The portfolio of the company comprises medical aesthetics, injectables, fillers, skincare products, and also neurotoxin therapy. They also have expertise in internal R&D with over USD 111.68 million investment every year. Merz Pharma has acquired numerous companies in the medical aesthetic industry since 2015.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Aesthetic Medicine Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Aesthetic Medicine Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.