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The global market for the medical aesthetics industry experienced a slowdown in growth in 2023 but professionals in the sector expect further acceleration this year and “at least until 2027”, according to sector figures published on Friday.
“The slight decline in growth that was expected for 2023 has been confirmed: the market grew by 2.9% in 2023 whereas until now we had been on a trend of 7 to 8% each year“, tells AFP Laurent Brones, economic expert at the IMCAS congress, dedicated to plastic surgeons and dermatologists.
This slowdown is attributed to “the decline in purchasing power” and the conflicting geopolitical context, he explained at the opening of the annual congress which is being held until Sunday at the Palais des Congrès in Paris. .
However, “revenues from the medical aesthetics market this year largely exceed their pre-pandemic level, going from $10.9 billion in 2019 to $16.3 billion“, according to figures published by IMCAS. This represents an increase of almost 50% over the period.
“Demand remained very strong in the United States, China and Brazil“, mainly in botulinum toxins, wrinkle fillers, laser-based treatments, silhouette treatments, breast implants, added Mr. Brones, also in charge of marketing at Symatese, a specialist in medical devices in the sector .
The United States remains number one in the aesthetics market with a market share of $7.8 billion.
“New in 2023, the European Union is now third behind the Asia-Pacific region in terms of market size“, according to IMCAS.
For 2024 and “at least until 2027“, IMCAS anticipates growth of “more than 5% per year in all geographic areas, or even more than 8% in the United States and Asia-Pacific“.
The price of treatments or even access to product information are determining factors in the patient’s decision to resort to an intervention, according to Mr. Brones.
Aesthetic procedures are not reimbursed by Health Insurance in France, with a few exceptions, such as in cases of breast reconstruction after breast cancer.
The early 2000s marked a turning point in aesthetic medicine, with the marketing in 2003 of Botox (botulinum toxin) for aesthetic purposes.