The global aesthetic medicine market size was valued at $99.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.5% from 2022 to 2030
Medical aesthetics is a branch of medicine that focuses on improving the physical appearance of patients. It is a professional and certified practice that is different from beauty treatments like eyebrow threading, waxing, or eyelash extensions. Some medical aesthetics treatments include microdermabrasion, chemical peels, skin rejuvenation, laser hair removal, and cosmetic surgery.
Along with hospitals, these types of treatments are now also being performed at aesthetic medicine clinics and medical spas by healthcare professionals, including plastic surgeons, dermatologists, physician assistants, and even aestheticians. The rising development of minimally invasive and non-invasive aesthetic procedures is primarily driving the demand for the medical aesthetics market.
The global aesthetic medicine market size was valued at $99.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 14.5% from 2022 to 2030. Manufacturers coming up with innovative aesthetic devices has led to an increased demand for aesthetic treatments in recent years. For instance, the introduction of technologically advanced products, such as non-invasive body contouring systems that use fat freezing technology, is expected to create lucrative opportunities for market growth in the coming years.
According to the Aesthetic Society (US), non-invasive body fat reduction was among the top 5 non-invasive procedures in the US in 2020 with 140,314 procedures being carried out (Grand View Research).
Key factors driving the growth of this market include the increasing popularity of non-invasive and minimally invasive aesthetic procedures, the rising demand among the elderly, the increasing public awareness of cosmetic procedures, the availability of technologically advanced and user-friendly products, and the growing interest in aesthetic treatments among men.
The last decade has seen a meteoric rise in the popularity of medical aesthetic operations. There has been a rise in the number of service providers, such as doctors and surgeons, who are helping patients by favouring invasive and non-invasive aesthetic operations over more conventional methods, driving up demand at an alarming rate. There are a variety of benefits associated with these methods, including shorter downtime, reduced scarring, and improved quality of life. These methods are also less expensive.
There are tremendous prospects in the medical aesthetics sector, and emerging markets like Brazil, Mexico and China are seizing a large portion of it. Growth in the over-20 population and greater familiarity with medical tourism are driving demand in these countries, as well as in India. The rise in personal wealth has also led to a boom in the number of medical professionals available to the public.
Tell us in detail about your entrepreneurial journey in the UAE Aesthetic industry?
It’s important to have a supportive network; no one succeeds alone. Maintaining relationships and participating in your local small business community are key. Social media is also important; and that is how most people communicate these days. Having the right mindset, setting goals, and facing fears and failures are all part of the process.
How are you adapting in today’s competitive aesthetic market?
Our role as entrepreneurs to build a team of people who share their passion for and commitment to the company. Having a committed and motivated team is essential for any business – leaders and staff alike. In today’s competitive market, being able to adapt, innovate, and make necessary changes is key to success. Our goal is to be able to address everyone’s beauty and wellness concerns while they are in the comfort and safety of their homes, with the simple click of a button.
In your opinion how have the aesthetic industry evolved over the years?
There is no constant when it comes to the standard of beauty. What is considered ugly can become beautiful and vice versa. This is largely due to the media, celebrity influencers and the globalization of the world. With technology evolving, the beauty and skin care industry has had to adapt. Thanks to this adaptation, we’ve seen some amazing changes in recent years.
Key evolution that led to the evolvement in the industry?
The upstart e-commerce beauty hub believes now is the right time for the business to thrive. The situation is especially difficult and challenging for everyone, but for a business like ours, it is the time to grow and be aggressive. Targeting not just women, but also men and children, Aesthetic Today has a broad vision of being everything to everyone, a bold dream that captures the energy and passion of its CEO, who describes herself as being ambitious, decisive and driven, but compassionate leader. I’ve toughened myself up, through many years of managing huge companies and brands in the UAE and the Middle East.
Opportunities for success are everywhere, and those that managed to leverage these opportunities and innovate are those that will do well. Failures are part of the journey, but entrepreneurs must not see them as stumbling blocks, they are in fact steps in the ladder of success. Failures are not the opposite of success; they are necessary experiences before accomplishments and achievements are made.
Has Covid-19 effected Aesthetic Today?
The COVID-19 pandemic has resulted in more people working from home, which may explain the increase in online sales. However, there have been some decreases in sales due to lockdowns and restrictions. We are trying to manage this situation so that we can continue to be successful. This is just a challenge that we need to overcome and continue to work hard for the company and for our employees.
Any new expansion plans in other countries or in the GCC?
We’re hoping to implement this soon. The sooner we can do this, the better off we’ll be. We’ve been planning this for a while and it’s time to take action. This will help us immensely.
What do you think could be the future of aesthetic today?
I have always believed that if the plan doesn’t work, change the plan but never the goal. With this motto in mind, I have visualized Aesthetic as one of the most trusted Aesthetic Beauty Online stores not just in UAE, but in the GCC countries and even abroad. I am determined to work hard with my team to get to that ladder of success.
Soon, Aesthetic Today will unveil its services and treatment section, where customers will have access to some of the world’s leading beauty experts for advice and consultation for DIY treatments at home. This is a distinctive service that shows how determined and genuinely committed Aesthetic Today is in being able to full the beauty and wellness needs of its shoppers.
