Consumer and Creator
© EM 2024
The Future of Beauty
I’ve been saying I’d write about Beauty and how beauty physical-product and software have been changing secret as both an investment space and in innovation for a bit.
The truth is, out of all of the maps I’ve done, this especially has to be the most complicated industry to get under venture wraps.
My interest started in learning exactly how many M&A opportunities were taken in 2022-2023 in the space. Also, anecdotally, especially from my tracking of Women’s Consumer as a whole - beauty has always been very, very large.
But I wanted to update you that medical aesthetics industry is now a $53B market.
There are two two subsets of medical aesthetics to care about: invasive and non-invasive.
In the world of beauty and healthcare, medical aesthetics has emerged as the next big thing. The demand for non-surgical cosmetic treatments has been increasing faster than any consumer base I’ve seen (25% increase YoY), surpassing just a means for anti-aging for new-age consumers (sub 25-years-old.)
Where the Valleys meet
The 21st century ushered in a new era with the introduction of non-surgical treatments such as Botox, dermal fillers, and laser therapies. These innovations have redefined the possibilities for enhancing one's appearance without undergoing extensive surgical procedures. In fact, according to the American Society of Plastic Surgeons, minimally invasive cosmetic procedures accounted for over 15 million procedures in 2021, showcasing the increasing preference for non-surgical options.
In recent years, the US has emerged as a global hub for medical aesthetics, witnessing an influx of clinics, practitioners, and advanced treatments. The industry's growth can be attributed to various factors, including the rise of social media platforms, where visual representation plays a pivotal role. The desire to achieve aesthetic goals and maintain a youthful appearance has become more prominent, leading to an increased demand for accessible and effective treatments.
Furthermore, technological innovations have paved the way for groundbreaking treatments. Advanced laser therapies can address skin concerns, from pigmentation to wrinkles, with minimal downtime. Non-surgical facelifts using radiofrequency have gained popularity for their ability to stimulate collagen production and tighten the skin. Moreover, injectables like Botox and dermal fillers continue to be in high demand, allowing individuals to rejuvenate their appearance without the risks associated with surgery.
The medical aesthetics industry's expansion isn't limited to procedures alone. Skincare products tailored to individual needs have become an integral part of the market. This shift towards holistic beauty solutions emphasizes the importance of maintaining skin health as an essential component of overall well-being.
As the medical aesthetics industry continues to flourish, it also faces challenges. Ensuring patient safety, regulating practices, and addressing ethical concerns are crucial aspects that demand attention. Transparency and education play a pivotal role in fostering trust between practitioners and clients, ensuring that individuals make informed decisions aligned with their goals.
Medical aesthetics covers a wide range of minimally invasive treatments, including Botox injections, dermal fillers, laser hair removal, chemical peels, etc.
Why it isn’t just beauty:
Moreover, they are performed by licensed and trained medical professionals, ensuring safety and efficacy.
This growth is attributed to the increasing awareness and interest in cosmetic procedures, advancements in technology, and the rising disposable income of people. Medical aesthetics is no longer limited to affluent individuals; it has become accessible to a broader demographic.
Besides the financial aspect, medical aesthetics has also become more socially acceptable. In the past, cosmetic treatments were stigmatized and viewed negatively. However, with the increasing normalization of self-care and body positivity, medical aesthetics has gained more acceptance in society.
In conclusion, medical aesthetics has emerged as the next big thing in the beauty and healthcare industry. It offers a wide range of minimally invasive treatments, which are safe, effective, and convenient. The market for medical aesthetics is growing rapidly, and it has become more socially acceptable. With these factors in play, it is no wonder that medical aesthetics is the next big thing.