According to a recent Market Research Engine report, the global esthetic market is expected to exceed more than $19.4 billion by 2023, growing at a CAGR of 12.2% in the forecasted period.
The report indicated some key driving factors for the growth in the global medical esthetics market. Among some of the reasons include:
- Growing awareness among consumer
- Health benefits of medical esthetics procedures
- Shift in the preference from surgical to non-surgical procedures
- Advancement in laser technology
Though there is an indication of strong growth, the research did report some restraints, which include the societal stigma around medical esthetic treatments and high treatment cost and lack of reimbursements.