Table of Contents
Medical Aesthetics Market Overview
Medical aesthetics involves various procedures trained medical experts conduct to improve appearance through minimally invasive or non-invasive means.
These treatments range from injectables like Botox to body contouring techniques such as cryolipolysis, with safety and regulation being key priorities.
Consultations focus on assessing suitability and managing expectations, while ongoing maintenance underscores the need for patient education and consent. As the field advances, ensuring safety, effectiveness, and ethical standards remains vital.
Market Drivers
The global medical aesthetics market is growing due to several factors. Firstly, there’s a rising demand for minimally invasive procedures driven by the preference for faster recovery times.
Advances in laser and energy-based devices are also expanding treatment options and improving their safety and effectiveness.
Moreover, the growing elderly population is increasing the need for anti-aging treatments. Rising incomes and greater awareness of aesthetic procedures, particularly in emerging markets, are further driving market growth.
Lastly, the influence of social media and celebrities is increasing the desire for aesthetic enhancements, contributing to market expansion.
Market Size
The Global Medical Aesthetics Market is projected to reach approximately USD 51.7 Billion by 2032, with a CAGR of 14.7% expected between 2023 and 2032, up from USD 15.3 Billion in 2022.
List of Major Companies
These are the top ten companies operating in the Medical Aesthetics Market:
- AbbVie
- Hologic
- Merz-Pharma
- Bausch-Health
- Merck
- Galderma
- Johnson-n-Johnson
- Boston-Scientific
- Huadong-Medicine
- Pfizer
AbbVie
Company Overview
| Establishment Year | 2012 |
| Headquarter | Chicago, Illinois, U.S. |
| Key Management | Richard A. Gonzalez (CEO) |
| Revenue (US$ Bn) | $ 54.2 Billion (2023) |
| Headcount | ~ 50,000 (2024) |
| Website | http://abbvie.com/ |
About AbbVie
AbbVie Inc., via its subsidiary Allergan Aesthetics, maintains a strong presence in the medical aesthetics sector, focusing on expanding its product range and market presence.
Recent highlights include the acquisition of ImmunoGen, which enhanced AbbVie’s capabilities in targeted cancer treatments and aesthetic solutions.
Allergan Aesthetics has also introduced initiatives like the “CoolMonth” promotion for CoolSculpting® Elite, aimed at enhancing patient engagement.
Additionally, the company releases reports such as “Decoding the Future of Aesthetic Individuality,” exploring consumer trends and personalized treatment approaches, demonstrating AbbVie’s commitment to innovation and leadership in medical aesthetics.
Geographical Presence
AbbVie Inc., a top pharmaceutical firm, holds a significant global presence across North America, Europe, and the Asia-Pacific region.
Based in North Chicago, Illinois, USA, AbbVie strategically operates in key markets, with strongholds in countries like Germany, France, the United Kingdom, Spain, Japan, China, South Korea, and Australia.
By actively engaging in healthcare sectors worldwide, AbbVie fosters collaborations and addresses diverse medical needs.
This widespread influence underscores AbbVie’s dedication to delivering innovative healthcare solutions globally, improving patient outcomes, and driving advancements in medical science.
Recent Developments
- In February 2024, AbbVie finalized its acquisition of ImmunoGen, making ImmunoGen an integral part of AbbVie’s operations.
- In January 2024, Allergan Aesthetics, under AbbVie’s umbrella and a leading force in medical aesthetics, released the “Decoding the Future of Aesthetic Individuality” report. It aims better to understand evolving consumer demographics and their aesthetic needs.
Hologic
Company Overview
| Establishment Year | 1985 |
| Headquarter | Marlborough, Massachusetts, U.S. |
| Key Management | Stephen P. MacMillan (CEO) |
| Revenue (US$ Bn) | $ 4.8 B (2022) |
| Headcount | ~ 6,944 (2022) |
| Website | http://hologic.com/ |
About Hologic
Hologic, Inc., a leader in women’s health, has bolstered its presence in the medical aesthetics sector through strategic moves, including the acquisition of Cynosure, a prominent company specializing in medical aesthetics, for around $1.65 billion.
This acquisition expands Hologic’s reach into the rapidly growing medical aesthetics market, integrating Cynosure’s innovative products in non-invasive fat body contouring and skin rejuvenation into its portfolio.
Additionally, Hologic introduced the Genius™ Digital Diagnostics System, an FDA-cleared platform merging artificial intelligence with advanced imaging to enhance cervical cancer detection.
These initiatives, alongside strong financial performance and ongoing innovation, underscore Hologic’s dedication to advancing healthcare and aesthetics solutions.
Geographical Presence
Hologic, Inc. boasts a strong global presence, is headquartered in Marlborough, Massachusetts, and serves markets across North America, Europe, and Asia-Pacific.
The company strategically distributes its medical devices and diagnostic solutions in the United States, Canada, and various European countries through regional offices and distribution centers.
In the Asia-Pacific region, including China, Japan, Australia, and India, Hologic taps into the increasing demand for advanced healthcare technologies.
Extending its reach to Latin America, the Middle East, and Africa, Hologic strengthens its position as a healthcare industry leader through a network of subsidiaries and partners, demonstrating a commitment to global healthcare improvement.
Recent Developments
- In April 2024, Hologic, Inc. agreed to purchase Endomagnetics, a developer of breast cancer surgery technologies, for $310 million.
- In February 2024, Hologic, Inc. obtained FDA approval for its Genius Digital Diagnostics System, featuring the Genius Cervical AI algorithm for cervical cancer screening.
Merz-Pharma
Company Overview
| Establishment Year | 1908 |
| Headquarter | Frankfurt, Germany |
| Key Management | Philip Burchard (CEO) |
| Revenue (US$ Bn) | $ 1.4 Billion (2022) |
| Headcount | ~ 3,730 (2022) |
| Website | http://www.merz.com/ |
About Merz Pharma
Merz Pharma has been actively advancing in the medical aesthetics sector with notable recent developments.
The company presented new data on regenerative aesthetics at the 2024 IMCAS World Congress, highlighting its commitment to sustainable solutions for aging.
They emphasized treatments that improve cell function for healthier and more youthful skin. Additionally, Merz Pharma expanded its aesthetic portfolio through the acquisition of ON Light Sciences, enhancing its capabilities in laser-based dermatologic procedures, particularly for tattoo removal.
This acquisition aligns with Merz’s strategy to lead in innovative aesthetic solutions and expand their product offerings globally.
Geographical Presence
Merz Pharma, headquartered in Frankfurt, Germany, has a strong global presence spanning Europe, North America, Asia-Pacific, Latin America, and the Middle East.
Operating in key European countries like Germany, France, Italy, Spain, and the UK, it leverages diverse healthcare landscapes. North America has hubs in the US and Canada that access advanced research.
It’s also active in the Asia-Pacific, including Japan, China, South Korea, and Australia. Additionally, it serves Latin America and the Middle East, demonstrating its commitment to global healthcare solutions. Through strategic partnerships, Merz Pharma expands its footprint while meeting diverse market needs.
Recent Development
- In April 2024, Merz Therapeutics, a division of Merz Group, finalized an Asset Purchase Agreement to acquire two commercial medications from Acorda Therapeutics.
- In August 2021, Merz partnered with Israeli startup Vensica Therapeutics Ltd., a urology firm, in a strategic license and collaboration deal. The agreement aims to utilize Vensica’s groundbreaking ultrasound-assisted delivery catheter for administering botulinum neurotoxin A (Xeomin®) to the bladder wall.
Bausch-Health
Company Overview
| Establishment Year | 1959 |
| Headquarter | Laval, Quebec, Canada |
| Key Management | John Paulson (Chairman) |
| Revenue (US$ Bn) | $ 8.1 Billion (2022) |
| Headcount | ~ 19,600 (2021) |
| Website | http://bauschhealth.com/ |
About Bausch Health
Bausch Health Companies Inc. is strengthening its presence in the medical aesthetics sector with recent developments.
Its subsidiary, Solta Medical, secured approval from China’s National Medical Products Administration for its Thermage® FLX system and TR-4 Return Pad, expanding its market in China.
Additionally, an initial public offering (IPO) is planned for Solta Medical to reduce debt and capitalize on the thriving medical aesthetics market.
Solta Medical offers advanced aesthetic treatments like Thermage, Fraxel lasers, Clear + Brilliant lasers, and VASER ultrasonic systems, collectively performing over five million procedures worldwide.
These strategic moves underscore Bausch Health’s dedication to innovation and growth in medical aesthetics.
Geographical Presence
Bausch Health Companies Inc., based in Laval, Quebec, Canada, has a global presence spanning North America, Europe, Asia-Pacific, Latin America, and emerging markets.
It operates extensively in Canada and the United States and maintains strong footholds in the UK, Germany, France, Italy, Spain, Japan, China, Australia, South Korea, Brazil, Mexico, Argentina, and Colombia.
Additionally, it’s strategically expanding into emerging markets in Africa and the Middle East. Bausch Health aims to meet diverse healthcare needs worldwide through its widespread geographic reach.
Recent Development
- In April 2024, Bausch Health introduced the initial public drug plan coverage for PrUCERIS® (budesonide) aerosol foam, intended for mild to moderate distal ulcerative colitis treatment in adults.
Merck
Company Overview
| Establishment Year | 1891 |
| Headquarter | Rahway, New Jersey, U.S. |
| Key Management | Robert M. Davis (CEO) |
| Revenue (US$ Bn) | $ 60.1 B (2023) |
| Headcount | ~ 72,000 (2023) |
| Website | http://msd.com/ |
About Merck
Merck & Co., Inc. has been strategically expanding into the medical aesthetics sector through acquisitions and product development.
Recently, it finalized the purchase of Harpoon Therapeutics, Inc., bolstering its oncology pipeline with novel T-cell engagers valued at around $650 million.
This move strengthens Merck’s ability to innovate in cancer therapy. Additionally, the company has been investing heavily in clinical trials and launching new products to treat different cancers and medical conditions.
These endeavors underscore Merck’s dedication to advancing patient care and growing its presence in the medical aesthetics market.
Geographical Presence
Merck & Co., Inc., or Merck Sharp & Dohme (MSD) in some regions, maintains a strong global presence spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East/Africa, with headquarters in Kenilworth, New Jersey, USA.
The company strategically positions research facilities, production sites, and commercial offices worldwide, facilitating effective engagement with healthcare systems and communities.
This extensive reach underscores Merck & Co., Inc.’s dedication to advancing medical science and enhancing patient care across diverse populations globally.
Recent Developments
- In May 2024, Merck entered a clinical trial collaboration and supply pact with CytomX Therapeutics for CytomX’s Phase 1 trial evaluating CX-801’s clinical effectiveness, marking its first human trial.
- In March 2024, Merck announced the completion of the acquisition of Harpoon Therapeutics, Inc.
Galderma
Company Overview
| Establishment Year | 1908 |
| Headquarter | Zug, Switzerland |
| Key Management | Flemming Ørnskov (CEO) |
| Revenue (US$ Bn) | $ 4.08 Billion (2023) |
| Headcount | ~ 6,500 (2022) |
| Website | http://galderma.com/ |
About Galderma
Galderma, a global leader in medical aesthetics, continues to innovate and expand its product offerings in the sector.
Recently, the company launched the “NEXT by Galderma” report, a comprehensive analysis of future aesthetics trends expected to shape the industry.
This initiative reflects Galderma’s commitment to understanding and leading the market through data-driven insights and collaborations with top experts.
In clinical advancements, Galderma presented new data at the IMCAS 2024 World Congress, highlighting the efficacy of their injectable treatments like RelabotulinumtoxinA, which showed high patient satisfaction and long-lasting results for treating frown lines and crow’s feet.
The company also achieved record sales of over $3 billion in 2023, driven by innovations in products such as nemolizumab and Alastin Skincare.
These efforts underscore Galderma’s strategic focus on expanding its dermatology and aesthetics portfolio, reinforcing its position as a market leader.
Geographical Presence
Galderma S.A., a leading dermatology-focused pharmaceutical company, maintains a strong global presence across Europe, North America, Asia-Pacific, Latin America, and the Middle East and Africa.
Headquartered in Lausanne, Switzerland, Galderma operates in key markets such as the United States, France, Japan, Brazil, and the United Arab Emirates.
Through strategic distribution channels and partnerships, Galderma delivers innovative dermatological solutions to healthcare professionals and consumers worldwide.
With a commitment to advancing skincare and dermatological health, Galderma continues to make significant contributions to the industry’s growth and development on a global scale.
Recent Developments
- In February 2024, Galderma S.A. announced its plans to raise the IPO of shares.
- In June 2023, Galderma S.A. received FDA approval for its hyaluronic acid filler, Restylane Eyelight.
Johnson-n-Johnson
Company Overview
| Establishment Year | 1886 |
| Headquarter | New Brunswick, New Jersey, US |
| Key Management | Joaquin Duato (CEO) |
| Revenue (US$ Bn) | $ 85.1 Billion (2023) |
| Headcount | ~ 134,400 (2023) |
| Website | https://www.jnj.com/ |
About Johnson & Johnson
Johnson & Johnson has been actively advancing its presence in the medical aesthetics sector through strategic acquisitions and product developments. Recently, the company announced its acquisition of Shockwave Medical, Inc. for approximately $335 per share, aiming to enhance its MedTech portfolio with Shockwave’s innovative intravascular lithotripsy (IVL) technology, which is used in treating calcified arterial disease. This move is expected to solidify Johnson & Johnson’s leadership in cardiovascular intervention and expand its market reach. Additionally, Johnson & Johnson is acquiring Ambrx to advance next-generation antibody-drug conjugates (ADCs) for targeted cancer treatments, with a focus on prostate cancer. These strategic acquisitions highlight Johnson & Johnson’s commitment to innovation and expanding its footprint in high-growth medical segments.
Geographical Presence
Johnson & Johnson boasts a formidable global presence, with operations spanning North America, Europe, Asia-Pacific, and Latin America.
Headquartered in New Brunswick, New Jersey, USA, the company strategically positions manufacturing facilities, research centers, and distribution networks throughout these regions.
In North America, it serves the United States and Canada, while in Europe, major hubs in the United Kingdom, Germany, and Switzerland facilitate its operations.
Expanding into Asia-Pacific, Johnson & Johnson targets markets like China, Japan, India, and Australia, tapping into their growing healthcare demands.
Latin America, particularly Brazil, and Mexico, also benefits from the company’s presence. Overall, Johnson & Johnson’s expansive geographical reach underscores its position as a global leader in the healthcare sector.
Recent Developments
- In April 2024, Johnson & Johnson acquired all shares of Shockwave Medical, Inc. in a definitive agreement.
- In January 2024, Johnson & Johnson finalized a deal to acquire Ambrx Biopharma, Inc., a clinical-stage biopharmaceutical firm specializing in synthetic biology technology for creating advanced antibody-drug conjugates (ADCs).
Boston-Scientific
Company Overview
| Establishment Year | 1979 |
| Headquarter | Marlborough, Massachusetts, U.S. |
| Key Management | Michael F. Mahoney (CEO) |
| Revenue (US$ Bn) | $ 14.2 Billion (2023) |
| Headcount | ~ 48,000 (2023) |
| Website | http://bostonscientific.com/ |
About Boston Scientific
Boston Scientific Corporation is bolstering its presence in medical aesthetics through strategic acquisitions and product launches.
Recently, the company acquired Axonics, Inc., a leader in devices for urinary and bowel dysfunction treatment, for around $3.7 billion, enhancing its urology portfolio and expanding capabilities in sacral neuromodulation therapy.
FDA approval for the FARAPULSE™ Pulsed Field Ablation (PFA) System, designed for treating paroxysmal atrial fibrillation, further strengthens Boston Scientific’s electrophysiology offerings with a non-thermal approach to cardiac ablation.
These initiatives underscore Boston Scientific’s dedication to broadening its product range and enhancing patient outcomes in medical aesthetics and healthcare overall.
Geographical Presence
Boston Scientific Corporation maintains a formidable global presence, with operations spanning across North America, Europe, Asia-Pacific, Latin America, and the Middle East.
Headquartered in Marlborough, Massachusetts, the company has established significant footholds in key healthcare hubs such as Minneapolis, London, and Shanghai, among others.
With a focus on expanding access to its innovative medical technologies, Boston Scientific strategically invests in offices, manufacturing facilities, and distribution networks across diverse regions, including emerging markets like China and Brazil.
Through its widespread geographical reach and collaborative approach, Boston Scientific remains at the forefront of advancing healthcare outcomes worldwide.
Recent Development
- In January 2024, Boston Scientific Corporation received FDA approval for the FARAPULSE™ Pulsed Field Ablation (PFA) System.
- In January 2024, Boston Scientific Corporation entered a firm agreement to acquire Axonics, Inc., a publicly traded medical technology firm specializing in innovative devices for urinary and bowel dysfunction treatment.
Huadong-Medicine
Company Overview
| Establishment Year | 1993 |
| Headquarter | Hangzhou, China |
| Key Management | Dongzhou (Jeffery) Liu (CEO) |
| Revenue (US$ Bn) | $ 5.7 Billion (2022) |
| Headcount | ~ 16,969 (2022) |
| Website | http://www.eastchinapharm.com/ |
About Huadong Medicine
Huadong Medicine Co., Ltd., a leading Chinese pharmaceutical company, has made significant strides in the medical aesthetics sector through strategic partnerships and innovative product developments.
Recently, Huadong’s subsidiary, Sinclair Pharma, entered into a global licensing agreement with ATGC Co., Ltd. to develop and commercialize a novel botulinum toxin product, ATGC-110.
This collaboration aims to expand Sinclair’s aesthetic product portfolio and strengthen Huadong’s position in the global aesthetics market.
Additionally, Huadong Medicine has partnered with Julphar to commercialize liraglutide, a treatment for diabetes and obesity, in the Middle East and North Africa (MENA) region.
These initiatives highlight Huadong Medicine’s commitment to expanding its global footprint and enhancing its product offerings in the medical aesthetics industry.
Geographical Presence
Huadong Medicine Co., Ltd. strategically maintains a strong geographical presence, spanning both domestic and international markets.
In China, the company strategically operates manufacturing facilities, research centers, and distribution networks across various provinces and municipalities, capitalizing on the nation’s vast population base and evolving healthcare landscape.
Internationally, Huadong Medicine has expanded its reach through subsidiaries, joint ventures, and strategic partnerships in key regions such as Asia, Europe, North America, and Africa.
These efforts aim to enhance market access, leverage external expertise, and solidify the company’s position as a prominent player in the pharmaceutical and healthcare sectors on a global scale.
Recent Development
- In June 2022, Julphar and Huadong Medicine Co., Ltd. partnered to develop, manufacture, and market Liraglutide for diabetes and obesity across 17 MENA countries.
- In June 2022, Kiniksa Pharmaceuticals, Ltd. and Huadong Medicine joined forces to develop and market Kiniksa’s ARCALYST® and mavrilimumab in the Asia Pacific Region.
Pfizer
Company Overview
| Establishment Year | 1849 |
| Headquarter | New York City, U.S. |
| Key Management | Albert Bourla (CEO) |
| Revenue (US$ Bn) | $ 58.5 Billion (2023) |
| Headcount | ~ 88,000 (2023) |
| Website | http://pfizer.com/ |
About Pfizer
Pfizer Inc. has been expanding its presence in the medical aesthetics sector through strategic partnerships and innovations.
Recently, Pfizer partnered with Flagship Pioneering to develop a new pipeline of innovative medicines, including those targeting unmet needs in broad patient populations.
This collaboration involves a $100 million upfront investment to explore and develop ten single-asset programs, leveraging Flagship’s extensive biotechnology platforms.
Additionally, Pfizer’s recent acquisition of Seagen has significantly bolstered its oncology portfolio, which includes advanced therapies that could intersect with aesthetic applications, especially in skin-related cancer treatments.
These efforts reflect Pfizer’s commitment to enhancing its medical aesthetics offerings and addressing diverse healthcare needs.
Geographical Presence
Pfizer Inc., a leading global pharmaceutical company, has a widespread presence across North America, Europe, Asia-Pacific, Latin America, Africa, and the Middle East.
In North America, especially in the US and Canada, Pfizer operates various research and manufacturing facilities.
In Europe, it has key operations in the UK, Germany, France, and Italy. The company also has a strong foothold in the Asia-Pacific region, including Japan, China, Australia, and South Korea.
Additionally, Pfizer extends its reach to Latin America, Africa, and the Middle East, focusing on addressing healthcare needs and expanding access to medicines and vaccines.
This global presence reflects Pfizer’s commitment to advancing healthcare worldwide through innovation and strategic collaborations.
Recent Developments
- In April 2024, Pfizer and Genmab A/S obtained FDA approval for TIVDAK® (tisotumab vedotin-tftv) to treat patients with recurrent or metastatic cervical cancer who have progressed after chemotherapy.
- In July 2023, Flagship Pioneering, Inc. and Pfizer Inc. collaborated to develop a novel pipeline of innovative drugs.
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