Developments in the laser technology and rising awareness on the same among consumers are two of the major factors contributing to the growth of the medical aesthetics market.

In 2016, the market attained a size of $8.6 billion, and it is predicted to generate revenue of $19.4 billion by 2023, advancing at a CAGR of 12.2% during 2017–2023 (forecast period). Medical aesthetics is a subspecialty of medicine, which uses minimally invasive treatments to improve the physical appearance of an individual.

On the basis of product, the medical aesthetics market is broadly categorized into topicals, injectables, breast implants, and energy-based aesthetics. Out of these, during the historical period (2013–2015), injectables dominated the market in terms of revenue, and these are expected to maintain their dominance during the 2017–2023 period, owing to the high sales of botulinum toxin and advent of new products. Injectables, which include derma fillers and neurotoxin, are contributing a significant amount to the growth of the market.

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The medical aesthetics market is witnessing various technological advancements and innovation. Developments in the laser technology are expanding its application in medical aesthetics and also offering benefits such as low-intensity pain, small incisions, and fast recovery after the procedure. In the past few years, there has been a significant surge in the adoption of laser technology for several cosmetic treatments, including skin rejuvenation, hair removal, and body contouring. Monopolar radiofrequency, low-level laser, and cryolipolysis are some of the technologies that are being adopted for fat reduction and body contouring.

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According to the American Society for Aesthetic Plastic Surgery, in 2012, approximately 43.0% of the population aged between 31 and 45 years went for one or more cosmetic surgeries to retain the youth and overcome the natural aging process’s impacts. In addition, factors such as the growing acceptance of cosmetic surgeries and desire to look younger are encouraging even the male population to go for such treatments. The surging awareness on newly launched and existing aesthetics devices is boosting the demand for these products, leading to the growth of the market.

Thus, the increasing awareness on medical aesthetics products and developments in the laser technology are augmenting the market advance further.

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