Indian aesthetic, anti-aging segment posed for growth
The Indian medical aesthetic devices market is projected to reach $2.67 billion by 2028 and the anti-aging market is set to grow at a CAGR of 9% from 2023 to 2028, according to an expert who spoke at the Aesthetic and Anti-Ageing Medicine World Congress (AMWC) India 2023 held in Mumbai.
Dr. Chytra Anand, Founder, Kosmoderma & SkinQ Dermacare and President, Indian Academy of Aesthetic Doctors said “The Indian medical aesthetic devices market is expected to reach $2.67 billion by 2028, with a CAGR of 13.28%. This growth is driven by factors like increasing obesity prevalence, which is projected to reach over 16% [of the population] by 2040, leading to a surge in demand for body sculpting and cellulite treatment procedures.”
“Furthermore, the India Anti-Aging market is set to grow at a CAGR of 9% from 2023 to 2028. India’s thriving medical tourism industry, ranked tenth globally underscores India’s growing appeal as a medical value travel destination, offering high-quality care at cost-effective rates,” Dr. Anand said.
Speaking at the debut of AMWC India, Yogesh Mudras, Managing Director, Informa Markets in India, the organisers of the event said, “The field of aesthetic and anti-aging medicine is currently witnessing an unparalleled surge in popularity, driven by the influential endorsement of celebrities, advancements in technology, and the growing emphasis on the desire to age gracefully or even reverse its effects.”
“These treatments offer swift, cost-effective, and enduring results while posing minimal risk,” he said.