Looking at the excellent growth prospects offered by the market for aesthetic medical devices market, an increased number of companies in the skincare devices market have also ventured in this field in the past few years. Transparency Market Research projects that the global medical aesthetic devices market will exhibit a 9.9% CAGR over the period between 2016 and 2024. If the number holds true, the market will rise to US$15.1 bn in 2024 from US$6.5 bn in 2015.
Based on the variety of medical aesthetic devices available globally, the market is segmented into aesthetic laser and energy devices, skin tightening and body contouring devices, aesthetic implants, and facial aesthetic devices. Of these, the segment of aesthetic laser and energy devices presently leads, accounting for a share of 30.6% 2015, chiefly owing to the exhaustive usage of these devices as compared to other devices by dermatologists. These devices often use a combination of energy types in order to provide the most effective therapy.
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Laser and energy devices are most commonly used for skin and hair treatments such as removal of pigmented lesions, tattoo removal, and skin rejuvenation. As patients increasingly demand noninvasive treatment options, aesthetic device providers are seeing these products as an essential addition to their suite of offerings. Further enabling their adoption, a number of manufacturers offer leasing and vendor financing that help limit the upfront capital costs associated with the adoption of these equipment. The segment of lasers and energy devices is also expected to witness expansion at a healthy pace in the next few years, emerging as one with highly promising growth over the period between 2016 and 2024.
North America to Remain Center of Development in Near Future
North America, driven by the flourishing medical aesthetics market in the U.S., was the leading regional market for medical aesthetic devices globally, accounting for 43% share in 2015. The region is expected to contribute significantly during the forecast period from 2016 to 2024 as well. The presence of a large base of key device manufacturers in North America coupled with the high purchasing power of both the buyers as well as consumers is expected to help the region sustain its leadership in the global market during the forecast period. North America is also at the forefront of aesthetic innovation, with the majority of both established and emerging aesthetic companies either headquartered in or having a significant aesthetic corporate presence in the region.
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Key Points from Table of Content
2. Assumptions and Research Methodology
3. Executive Summary
4. Market Overview
5. Market Dynamics
6. Medical Aesthetic Devices Market Analysis, by Product Type
7. Medical Aesthetic Devices Market Analysis, by Application
8. Medical Aesthetic Devices Market Analysis, by End-user
9. Medical Aesthetic Devices Market Analysis, By Region
10. North America Medical Aesthetic Devices Market Analysis
11. Europe Medical Aesthetics Devices Market Analysis
12. Asia Pacific Medical Aesthetics Devices Market Analysis
13. Latin America Medical Aesthetics Devices Market Analysis
14. Middle East & Africa (MEA) Medical Aesthetics Devices Market Analysis
15. Competition Landscape
16. Company Profiles
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