There have been revolutionary advancements in the medical aesthetic devices, such as the development of advanced aesthetic laser devices with extraordinary precision, computer customized capabilities, and easy operation, which deliver superior results for a wide variety of aesthetic conditions.
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Allied Market Research published a report, titled, “Medical Aesthetic Devices Market by Product (Devices and Aesthetic Implants), Application (Surgical and Non-surgical), and End User (Hospitals & Clinics, and Medical Spas & Beauty Centers) – Global Opportunity Analysis and Industry Forecast, 2017-2023.” The report offers information on the drivers, restraints & opportunities top investment pockets, market segments, market size & share, and the competitive landscape. These insights are helpful for market players, investors, stakeholders, and new entrants to gain major market share and international presence. According to the report, the global medical aesthetic devices market garnered $9,235 million in 2016 and is projected to accrue a sum of $17,992 million by 2023, growing at a CAGR of 10% from 2017 to 2023.
The report elaborately analyzes the drivers, restraints, and opportunities of the market. Factors such as the growing demand for minimally invasive reconstruction surgeries, increase in road accidents and trauma cases, high prevalence of congenital face and tooth deformities, technological advancements, growth in awareness programs such as breast reconstructive awareness campaign (launched in the U.S.), high incidence of breast cancer, and rise in number of cosmetology surgeons drive the growth of the market. However, the high cost of treatment, low reimbursements, and risk of malfunctions associated mostly with implants hinder the growth of the market. Conversely, increase in preference for a better quality of life and rise in popularity of celebrities among the young generation who motivate them to look aesthetically appealing offer significant growth opportunities to the market players.
The report presents a detailed analysis of the segments of the market. The market is classified into product, application, end user, and geography. Based on the product, the study is bifurcated into devices and aesthetic implants. The aesthetic implants segment accounted for the three-fourths share of the total market in 2016. Based on application, the market is divided into surgical and non-surgical. The end user segment is bifurcated into hospitals & clinics, and medical spas & beauty centers. Hospitals & clinics accounted for more than three-fifths of the market share in 2016. Regionally, the market analysis covers North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to grow at the highest CAGR of 11.5% from 2017 to 2022.
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A broad analysis of the players operating in the medical aesthetic devices market is also offered in the study. Details such as their overview, their business segments under operation, key strategic moves and developments, and more are explained. The companies profiled in the report include Allergan PLC, Solta Medical Inc. (A Division of Valeant Pharmaceuticals International Inc.), Syneron Medical Ltd., Cynosure Inc. (A Division of Hologic, Inc.), Lumenis Ltd., Johnson & Johnson, Merz Pharma GmbH & Co. KGaA, Alma Lasers Ltd. (Acquired By Shanghai Fosun Pharmaceutical (Group) Co. Ltd.), GC Aesthetics plc, Sientra Inc., Zimmer Biomet Holdings, Inc., and Dentsply Sirona Inc. (formerly DENTSPLY International Inc.).
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