Medical Aesthetics Industry ESG Thematic Report, 2023

Environmental, Social and Governance (ESG) in the Medical Aesthetics Industry

Considering ESG into decision making and business strategies contributes to an effective due diligence and a better investment decision. Medical aesthetic industry hasn’t been disclosing ESG strategies and policies, however few concerns growing among various stakeholders can be related to ESG.

From an ESG perspective, consumers, and other stakeholders are very much inquiring and curious about social impacts arising out of this segment. From the perspective of the United Nations’ Sustainable Development Goals (UN SDGs), which can be considered as a framework for achieving various ESG goals, indeed, this market offers wide variety services like aesthetic preference, cosmetic procedures both invasive and non-invasive procedures which can create a positive health impact both physically and mentally. Product quality and assurance with an experienced cosmetic surgeon as well growing innovative technologies have been the main reason for the surge in the market.  Health care accessibility and affordability have raised concerns among consumers, because in the medical aesthetic industry better quality service requires more investment.

The COVID-19 pandemic had a very negative impact for this segment, due to social distancing and lockdown it has been a challenge over the period. Even though non- invasive procedures have gained attention and created more impact in the market during the aftermath of COVID-19.

ESG Trends

As mentioned previously, this segment has more social impact considering ESG parameters. This market provides various solutions for aesthetic problems like liposuction, nose reshaping, breast implantation, Botox injections etc. Generally, aesthetic medical market tends to improve both physical and mental health of an end-user (SDG 3- Health and Wellbeing) provided with the best care and product quality assured by organization like International Society of Aesthetic Plastic Surgery (ISAPS) and legal bodies like Food and Drug Administration (FDA). In terms of innovation, (SDG 9- Industry, Innovation, and Infrastructure) 3D printing in dermatology which is an additive manufacturing of skin tissues, breast implantation of both saline and silica gel etc. have been growing in the market. Accessibility and Affordability (SDG 10- Reduced inequalities) have been main material issues addressed by few companies, as in terms of facilities, socio-economic status of a country or society, infrastructure, and availability of experienced professionals these factors vary widely. 

ESG Challenges

Main challenges faced by this segment lies with accessibility and affordability as mentioned. Aesthetic medical market has various solutions to different aesthetic needs. In terms of better quality, the investment will be proportionately high along with the experience of cosmetic surgeons and technology used. Aesthetic medical facilities are less in comparison with other health facilities as it is not an essential treatment which is also relative to infrastructure which are prevailing in different nations. Moreover, lack of proper education or responsible product use could be lacking as there are many cases with abnormality mostly in aesthetic invasive procedures, for example Hematoma is a pocket of blood which occurs in 1% of patients after a plastic surgery, seroma which results in swelling of skin. etc.

Growth of the Medical Aesthetics Market

With better living standards, commercialization and aesthetic needs this market has been growing in the past decades. Earlier phases only celebrities and people who could afford this treatment made use of the same. Now-a-days, it has been more widely used among a lot of people due to better living standards and urbanization. Furthermore, the medical aesthetic industry projects better for non-invasive medical procedures in comparison with invasive surgeries. Overall, market cap was valued to be 99.1 billion USD in 2021 and it is expected to have a CAGR of 14.5 %.

Key Companies in this theme

    • AbbVie

    • Cynosure

    • Evolus Inc.

    • Revance Galderma

    • Lumenis

    • Solta Medical

    • Syneron Candela

    • Alma Laser

Scope of the Medical Aesthetics Industry ESG Thematic Report

    • Macro-economic and ESG-variable analysis of the industry, including regulatory, policy, and innovation landscape

    • Key insights on infrastructure developments and ESG issues affecting the theme

    • Identify key initiatives and challenges within the industry

    • Identify ESG leaders within the industry

    • Understand key initiatives and the impact of companies within the sector to fuel an informed decision-making process.

    • Analysis of industry activities based on multi-media sources, including significant controversies and market sentiment

Key Benefits of the Medical Aesthetics Industry ESG Thematic Report

    • Developing a comprehensive understanding of macro-economic, Policies & Regulations and innovations affecting the medical aesthetics space, globally

    • Key insights into environmental developments and ESG issues affecting the theme

    • Identifying ESG risks and opportunities to business among leading players in the medical aesthetics market

    • Obtaining a clear and relevant understanding of company actions, progress, and impact and finding opportunities for investment into the sector.