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17 Jul 2024

Growth of Medical Aesthetics in India

growth-of-medical-aesthetics-in-india

The focus of this article is to delve more into the medical aesthetics market in India and how 1Lattice can provide better insights and support to Healthcare providers and life sciences organizations with key market trends, propelling factors, Government policies, and their impact on the industry.
Global medical aesthetic procedures have surged in popularity, with 38 million treatments conducted annually, underscoring a worldwide embrace of cosmetic enhancements. This trend spans both surgical and non-surgical procedures, driven by technological advancements that have made treatments safer, more effective, and minimally invasive. The growing demand for aesthetic procedures highlights a significant shift toward prioritizing self-confidence and overall radiance, reflecting broader societal trends toward self-improvement and wellness.

India's medical aesthetic device market has been experiencing significant growth and is expected to reach US US$ 3.3B by FY30 at a CAGR of ~12%. Key segments in this market include non-surgical procedures such as injectables (Botox and dermal fillers), laser treatments (hair removal, skin resurfacing), and chemical peels, which are gaining significant traction due to their minimal downtime and effective results. Surgical procedures like liposuctionrhinoplasty, and breast augmentation also remain popular.

The top five surgical aesthetic procedures - liposuction, rhinoplasty, gynecomastia, eyelid surgery, and breast augmentation continue to dominate the field of cosmetic surgery due to their transformative effects and high patient satisfaction rates. Together, these procedures represent the leading choices for those seeking significant aesthetic improvements through surgery.

The top five non-surgical aesthetic procedures globally reflect a diverse range of treatments aimed at enhancing appearance with minimal downtime. Leading the list is hair removal treatments, such as laser hair removal, which rank highly due to their ability to provide long-term reduction of unwanted hair. These non-surgical procedures are favored for their convenienceeffectiveness, and reduced recovery times.

The medical aesthetic market in India is experiencing significant growth, driven by several key factors. Increasing disposable incomegrowing awareness of cosmetic procedures, and a rising desire for youthful appearances are major growth drivers. The proliferation of advanced technologies and the availability of skilled professionals have also made these procedures more accessible and appealing to a broader demographic.

However, the market faces barriers such as high costs of procedureslimited availability in rural areas, and societal stigmas associated with cosmetic enhancements. Additionally, the lack of standardized regulations and potential safety concerns can deter potential clients, posing challenges to the market's expansion.

There is a notable increase in demand for non-surgical procedures like Botox, dermal fillers, and laser treatments. Additionally, advancements in medical technology, increasing trends in customized treatments, and the availability of trained professionals are the key trends in the medical aesthetic market in India.


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