As Aging Population Increases, Medical Aesthetics Market is Predicted to Grow

The global Medical Aesthetics Market, valued at USD 10.1 billion in 2018, is expected to reach USD 20.4 billion in 2026, growing at a CAGR of 9.0% during the forecast period, according to the latest report from All The Research.

The rapidly growing aging population and considerable focus on personal grooming are primarily driving the demand for medical aesthetics products, according to the report. Estimates from the UN suggest that by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). By 2050, one in four persons living in Europe and North America could be aged 65 or over. The number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050. Due to this rise in the aging population, the manufacturers of skin care products have introduced anti-aging products that help to reduce and prevent signs of skin aging.

Based on product type, the facial aesthetics products segment is accounted for the largest share in the market and held for around 35% of the total market in 2018

Based on end-users, the homecare segment is expected to grow at the highest CAGR of around 11.5% during the forecast period

North America accounted for around 35% share of the global medical aesthetics market in 2018.

The full report is available online.