The global medical aesthetics market size was valued at USD 22.84 billion in 2023. The market is projected to grow from USD 25.48 billion in 2024 to USD 67.89 billion by 2032, exhibiting a CAGR of 13.0% during the forecast period (www.fortunebusinessinsights.com).
It comprises of facial aesthetics products, cosmetic implants, skin aesthetics devices, body contouring devices, physician-dispensed cosmeceutical and skin lighteners, tattoo removal devices, thread lift products, physician-dispensed eye lift products, and nail treatment devices. In 2023 the facial aesthetics product segment accounted for the largest market share (www.marketsandmarkets.com). Based on procedure the market is segmented into surgical procedures, which include breast augmentation, rhinoplasty, facelift, and body lift, and non-surgical procedures, which includes anti-ageing, skin rejuvenation, tattoo and scar removal, hair removal, lipolysis and other non-surgical procedures.
The UK aesthetics market has grown significantly over the years and it continues to evolve with new products and treatments coming to market. The industry is valued at £3 billion and it is anticipated to reach £3.6 billion by 2025 (www.marketsandmarkets.com 2020) providing a huge opportunity for market penetration for manufacturers, distributors and clinics. Growth is driven by advancements in technology, social media, a growing and ageing population and consumer demand for achieving their ‘quest for perfection’ (Savage, 2021). 7.7 million (11%) of consumers have undergone a treatment in the past 12 months for Botulinum Toxin, Dermal Fillers, Fat Dissolving, Medicated Weight Management amongst others. In addition to this, when looking at those considering treatments this totals 13.9 million people (1 in 5) twice as many as those who have had a treatment – an additional 6 million people who haven’t converted yet, highlighting the potential demand in the market.
Botulinum Toxin – 33–40-year-olds are keen advocates of Botox with 32% of this age group considering treatments in the next 12 months. In comparison there has been a decrease of 10% in people aged 25–32 years old considering Botox. The Rare Group tracked by region where this growth is taking place, with London and the Northeast of England seeing an increase in demand of 4% of Botulinium Toxin.
Dermal Filler – When it comes to Dermal Fillers, the results differ, with 26% of 25-32-year-olds looking to have this treatment, a 5% increase in 6-month period. Whereas there is an 8% increase amongst 33-40-year-olds considering Dermal Fillers. On a regional level, London is growing at 4%, alongside Yorkshire and Humberside at 5%. The Southeast of England has experienced a 6% decrease in people wanting Dermal Fillers.
Market supply vs demand – 20% of people in England are considering some form of treatment, however only 8% of CQC registered clinics are offering aesthetics. Dermal Fillers is currently overserved in the market, whereas Botulinum Toxin has greater capacity.
Increasing demand for Medical Wellness and Longevity – It is estimated that the global anti-aging market will be worth $610 billion dollars globally by 2025 and the interest and therefore demand for anti-ageing is very much here to stay. Aesthetics is embracing anti-aging treatments beyond injectables. Aesthetics providers make up over 9 in 10 of all providers currently active in Medical Wellness and Longevity and 34% of Aesthetics practices are offering Medical Wellness and Longevity treatments. The Medical Wellness and Longevity market is booming and is here to stay. More than a third of UK Aesthetics providers that offer Medical Wellness and Longevity treatments are offering functional medical assessments, regenerative medical programs, and IV vitamin therapy. In the 12 months up to November 2023 the levels of interest in Dermal Fillers (-31%) and Botulinum Toxin (-16%) decreased significantly, whilst other alternatives such as Skin Boosters performed well. It is clear that longevity treatments and in general consumers interest in aesthetic treatments, extends beyond injectables. When reviewing the people who have visited aesthetics clinics in the past 12 months, there has been a noticeable increase in demand for consumers opting for medical grade treatments.
One of the greatest challenges in this market is that 58% of cosmetic practitioners administering injectables such as Botox are not medical doctors. The UK injectables market is predicted to reach a value of £11.7 billion by 2026, but to date is effectively unregulated, although this is currently under investigation by the UK government. A study published in the Journal of Plastic, Reconstructive & Aesthetic Surgery, is the first survey of who is providing cosmetic injectable services, such as Botulinum Toxin (Botox) and Dermal Fillers in the UK, and it found that little is known about the background qualifications, training and experience of those administering treatments. The British public are very trusting in rules, processes, law and responsibility –we have seen the rise in aesthetic treatments across social media channels, fuelled by public figures and celebrities, leading to an acceptance that it is ‘safe’ to do so, however it is clear that there are consequences.
In Canada, treatments are conducted by surgeons, doctors, nurse prescribers and nurses, using only FDA-approved products. Fillers are deemed to be medical devices. It is illegal to advertise POMS and POMDs. The USA only allow treatments to be conducted by surgeons, physicians, physicians’ assistants and nurses, using only FDA-approved products. Across Europe, treatments are only conducted by appropriately and licensed doctors, using CE or FDA approved products. The first, most obvious step, is to only allow medically qualified practitioners, who are accountable to a statutory regulatory body, to conduct non-surgical aesthetic treatments.
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As an international beauty and wellness consultancy, we are proud to work alongside clients from different regions of the world – Saudi Arabia, Dubai, Sri Lanka, Africa, Australia, Canada, US, Europe and the UK . We love collaborating with entrepreneurs, multi-award-winning beauty and wellness brands, retailers, investors, distributors, embassies and trade bodies across the retail sector, and the professional sector, including those selling into the hair care market, hotels, spas, professional nail care market and aesthetics market.
If you need support with devising a new strategy, developing a new product range, designing your packaging or rebranding your current product range, managing your PR, or with planning your market-entry into international markets, get in touch, we would love to hear from you.
Bespoke is a brand management expert with deep industry knowledge, extensive experience and a comprehensive understanding of the beauty and personal industry in the UK and Europe, complemented by an extensive network of contacts in the relevant market segments. Bespoke’s expertise, experience and contacts significantly contributed the success of the UK/Europe project with the companies that Bespoke assisted successfully entering or well on track to enter the UK and European markets. The Bespoke team was very professional, responsive and obliging and always delivered within timeframes. It was a pleasure to work with them.
Working with Janet over the past year has been a real pleasure, she has fantastic industry experience and knowledge of the UK beauty market. She has delivered a number of webinars for my clients looking at how to enter the UK market, providing an overview of the market and how to build a strategy. She took the briefs we provided and added real value to them, included key insights and information that my clients have found incredibly useful. Feedback on these sessions has been very positive. Janet is a clear communicator and has always delivered as agreed and on time. We are continuing to work together on other projects and I very much value the conversations we share.
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‘As a Queensland-based company, we were determined to tap into the European market and establish a strong presence. From the very beginning, Bespoke Advantage demonstrated a deep understanding of our export goals and objectives. Their comprehensive knowledge of the European market, coupled with their extensive network of contacts, enabled them to connect us with key decision-makers and influential stakeholders in our target countries. Their strategic guidance and insights were invaluable in shaping our export strategy and positioning us for long-term success.’
‘Through Janet’s management skills, expertise and proven track record on the job she successfully managed the purchasing of our retail operations and ensured the integrity of our brands in-stores. Her enthusiasm and total dedication, delivered results in any project she was involved in.’
‘Janet has excellent beauty market knowledge. Level headed with clear vision, direction and the ability to drive business forward, Janet led the teams through a complete product design change advising on what the key marketing messages should be, incorporating her technical knowledge and beauty expertise.’
‘Absolutely fantastic course. Condensed learning from Janet, an expert in developing beauty brands. Also, valuable introductions to expert professionals, in the Masterclass sessions. In 12 weeks, you will learn from Janet, what would take years to learn by yourself. A very worthwhile investment’