Transparency Market Research presents this most up-to-date research on “Medical Aesthetic Devices Market (Product – Aesthetic Laser and Energy Devices, Skin Tightening and Body Contouring Devices, Aesthetic Implants, and Facial Aesthetic Devices; Application – Facial and Body Contouring, Facial and Skin Rejuvenation, Breast Enhancement, Scar Treatment, Reconstructive Surgery, Tattoo Removal, and Hair Removal) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024”
Medical Aesthetic Devices Market: Snapshot
Although aesthetics presently accounts for a relatively small share in the global medical devices market, the rising global demand for a variety of aesthetic procedures is projected to stimulate the market for medical aesthetic devices significantly in the next few years. The demand for aesthetic procedures and thus that of medical aesthetic devices is chiefly driven by the mounting aging population globally, expendable incomes across emerging economies, product innovation, and cultural acceptance of aesthetic procedures.
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$6.5 bn in 2015.
Aesthetic Laser and Energy Devices to Continue to be Leading Product Variety
Based on the variety of medical aesthetic devices available globally, the market is segmented into aesthetic laser and energy devices, skin tightening and body contouring devices, aesthetic implants, and facial aesthetic devices. Of these, the segment of aesthetic laser and energy devices presently leads, accounting for a share of 30.6% 2015, chiefly owing to the exhaustive usage of these devices as compared to other devices by dermatologists. These devices often use a combination of energy types in order to provide the most effective therapy.
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Medical Aesthetic Devices Market: Segmentation
The global medical aesthetic devices market has been studied based on major aesthetic product segments, application segments, their end-users, and regional as well as national markets. Based on product type, the global market has been categorized into four major segments: aesthetic laser and energy devices, skin tightening and body contouring devices, aesthetic implants, and facial aesthetic devices. Based on application, the global market has been categorized into following segments: facial and body contouring, facial and skin rejuvenation, breast enhancement, scar treatment, reconstructive surgery, tattoo removal, and hair removal. Based on end-user, the global market has been categorized into three key segments: hospitals, dermatology clinics and cosmetic centers.
The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn for the period from 2014 to 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all segments, considering 2015 as the base year.
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the global medical aesthetic devices market and could influence the market in the near future. Market attractiveness analysis has been provided in all the sections of the report in order to explain the intensity of competition in the market across different products/applications/end-users/geographies. The competitive scenario among different market players is evaluated through market share analysis in the competition landscape section of the report. The section also includes completion matrix that analyzes the competition among some of the top global players operating in the market. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
Competitively Priced Equipment and Services from Domestic Vendors to Limit Market Growth
The global medical aesthetic devices market is characterized by intense competition wherein local manufacturers and service providers offer devices/services at affordable costs. The resultant need to reduce costs of equipment to stay ahead of competition can severely hamper the overall profitability of international vendors, especially across cost-sensitive emerging economies.
Continuous technological developments in the aesthetic devices market with respect to product design and efficiency require manufacturers to provide up-to-date solutions to the customers. Such upgrades could be highly cost-intensive and lead to erosion of investment and not many service providers may be open to adopting them on a regular basis. The scenario is expected to have a negative impact on the overall development of the market in the long run.
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