India is emerging as a global powerhouse in the aesthetic medicine market, with a projected threefold increase in value to $3.02 billion by 2029. This rapid growth is driven by a rising preference for non-invasive procedures like Botox and fillers, coupled with increasing disposable incomes and a growing health-conscious population.
The International Society of Aesthetic Plastic Surgery reported a significant shift towards non-surgical procedures, which outnumbered surgical ones globally in 2020. Botulinum toxin remains the most popular non-surgical procedure, with over 9 million treatments performed by plastic surgeons worldwide, marking a 26.1 per cent increase.
Hyaluronic acid procedures followed with 4.3 million treatments. Women dominate the market, comprising 85.7 per cent of the consumer base, but there is a growing acceptance of aesthetic treatments among men and millennials, reshaping the industry’s demographics.
India’s current aesthetic medicine market stands at approximately $1.62 billion and is expected to grow at a compound annual growth rate (CAGR) of 13.2 per cent.
Dr Rashmi Shetty, an aesthetic practitioner, emphasised the shift in societal perception towards aesthetic treatments. “These procedures are no longer taboo,” she said. “People are realising the positive impact on self-esteem and overall well-being.”
While women have traditionally been the primary consumers of aesthetic treatments, a growing number of men are also embracing these procedures. This expanding demographic, along with the increasing acceptance of aesthetic medicine among millennials, is reshaping the industry.
A spokesperson for Allergan Aesthetics remarked, “India holds immense potential to become a global leader in aesthetic medicine in the coming decades. Research reports highlight that procedures that were once kept secret are now becoming cultural mainstays. The pandemic brought a greater focus on wellness and self-care, which was an important shift for consumers.”
First Published: Aug 08 2024 | 8:19 PM IST
