Aesthetics businesses are optimistic about their long-term growth despite potential macroeconomic headwinds, thanks to resilient consumer demand for services and products related to health and wellness. At the 2025 Medical Spa Show presented by AmSpa, our senior professionals felt this excitement firsthand, seeing strong attendance from operators, executives, and investors alike.

“Aesthetics remains a large, fragmented market with long-term demand trends, repeatable high-ticket services, and multiple ways for investors to get involved,” says Corey Benjamin, a managing director in our Consumer Group. “These factors will continue to capture investor attention, and we expect to see M&A activity build going forward.”

Below, we expand on what’s creating investor interest in the space and its variety of value-creation opportunities.

Doing More for Clients

Sitting at the intersection of many powerful tailwinds, aesthetics concepts continue to be on investors’ radar. Those that are particularly appealing offer consistently strong performance, a proven ability to recruit and retain talent, best-in-class clinical quality, and a clear road map to growth.

Meanwhile, leading concepts are broadening their services to address evolving consumer preferences. “While core aesthetic services remain in demand, such as injectables, fillers, and energy-based device treatments, many businesses are expanding into various concierge health and wellness solutions,” says Benjamin.

Prime examples include GLP-1 medications, peptides, and a host of therapies for hormone replacement, anti-aging, disease prevention, and more, all of which help meet a growing consumer desire for wellness-related offerings. Supplying these different treatments—while developing personalized wellness plans for each patient—can complement other aesthetics offerings, enhance customer acquisition and retention, and drive stronger lifetime values.

“Consumers are seeking professional guidance on safe and effective wellness solutions,” adds Benjamin. “The most sought-after aesthetics providers are poised to play this important role, helping clients improve their overall well-being through a more comprehensive set of services and thoughtful expertise. That’s a formula for healthier consumers, businesses, and investors.”

White Space for Growth

Across the large and highly fragmented aesthetics space, there are many opportunities for a wide range of investors to succeed and build scale. “Aesthetics offers plenty of white space for long-term expansion,” says Benjamin. “Although the bar for quality is higher, investors can drive growth through a combination of M&A and de novo strategies, while bringing professionalization and scale to the equation.”

To further discuss the aesthetics sector’s M&A potential, please contact our senior professionals.