Aesthetic Medicine Market - Forecast to 2023

From the global perspective, the global aesthetic medicine market grew steadily from 2014 to 2019, with a compound annual growth rate(CAGR) of around 8.1%, and reaching to 142.6 billion USD. In 2020, considering the COVID-19 outbreak has left a disadvantageous influence on the global aesthetics market, the growth rate dropped from 7.4% to 6.8%, and the total market size reached 152.3 billion USD. In the future, the global aesthetic medicine market is expected to maintain a growth rate of 6.4% in the future, and the market size with increase 189.1 billion USD by 2023.

Figure1 Global aesthetic medicine industry market from 2014 to 2023(USD billion)

In China, the aesthetic medicine industry market has reached 83.3 billion RMB in 2016 and 198.3 billion RMB in 2020. The CAGR is about 25.3% in 2016-2020. With the development of medical technology, safe and fast medical aesthetic treatments will greatly meet the needs of consumers. We estimated that the market will grow at a CAGR of 17.5% during 2021-2023 and achieve 319.2 billion RMB in 2023. 

Figure2 China’s aesthetic medicine industry market from 2014 to 2023(RMB billion)

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