Medical Aesthetic Devices Market
The market for medical aesthetic devices was valued at US$ 13,350.0 Mn in 2021 and is anticipated to grow at a CAGR of 11.8% from 2022 to 2028 to reach US$ 29,218.7 Mn. Due to the rising popularity of minimally invasive treatments, an increase in aesthetic operations, and technological advancements in aesthetic devices, the market for medical aesthetic devices is expanding rapidly. Additionally, rising demand for medical aesthetic devices as a result of greater public awareness is anticipated to fuel market expansion. However, it is anticipated that obstacles including a poor reimbursement environment and worries about societal stigma will restrain the market’s expansion for medical aesthetic devices.
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Market Regional Insights
The global market for medical aesthetic devices is divided into five geographic segments based on geography: North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Due to its high prevalence/incidence of chronic diseases and growing obese population, North America is predicted to have the biggest market share among all regions throughout the projection period. For instance, obesity, a metabolic illness, is frequently linked to a variety of chronic conditions and is associated with a considerable rise in mortality and comorbidities. Approximately one in three Americans of all ages, or more than 100 million individuals, are obese at the moment, according to the Trust for America’s Health (tfah.org), which claims that obesity is a growing epidemic in the country. It is anticipated that this would lead to a rise in demand for medical aesthetic devices.
Due to the growing popularity of minimally invasive treatments and the rising number of aesthetic procedures in the region, Asia Pacific is also anticipated to experience considerable growth in the global market for medical aesthetic devices. People are more likely to use minimally invasive procedures, for example, as a result of increased public knowledge of the advantages of cosmetic procedures. The International Society of Aesthetic Plastic Surgery estimates that India performed 524,064 surgical and non-surgical aesthetic operations in total in 2020. It is anticipated that this would lead to a rise in demand for medical aesthetic devices.
Over the projected period, it is anticipated that an increase in the number of aesthetic treatments and a rise in the use of minimally invasive procedures will fuel the expansion of the global market for medical aesthetic devices. For instance, people are more likely to use minimally invasive techniques now that people are becoming more aware of them. More than 1.4 million surgical and non-surgical operations were carried out in the U.S. in 2021, a 40% increase over the procedures carried out in 2020, according to the American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS).
During the forecast period, technological development in aesthetics devices is anticipated to drive the growth of the global market for medical aesthetic devices. For instance, the Cynosure Division of Hologic announced the release of two new products in July 2019: SculpSure tiny mask for submental fat reduction and TempSure Firm for tissue heating and cellulite treatments. The U.S. Food and Drug Administration (USFDA) has now approved SculpSure for use in patients with a body mass index (BMI) of up to 49, the maximum BMI clearance available for submental therapies.
Players in the global medical aesthetic devices market may anticipate to benefit from significant growth prospects as demand for medical aesthetic devices rises as a result of rising consumer awareness. For instance, Allergan Healthcare India announced the introduction of Juvéderm VOLUX in August 2022 as part of its Allergan Aesthetics business segment. Before releasing this medicine, Allergan received all required approvals from the Central Drugs Standards Control Organization. Hyaluronic acid 25 mg and lidocaine hydrochloride 3 mg make up Juvéderm VOLUX, which is used to repair and add volume to the face.
Players in the international market for medical aesthetic devices should anticipate to benefit from the rapid expansion of medical tourism. For instance, the tremendous expansion of medical tourism in India, China, Mexico, and Brazil has raised demand for medical aesthetic devices in these nations. To become India the world’s top destination for medical tourism, the government is making every effort. The Ministry of Tourism now includes wellness travel in its programme for market development assistance.
Because more individuals are becoming aware of the advantages of aesthetic procedures, particularly among men, the market for medical aesthetic devices is growing quickly. As a result, players in the market are concentrating on creating and releasing gadgets especially made for guys and the variety of skin types they have. Throughout the forecast period, this tendency is anticipated to persist, fueling the expansion of the global market for medical aesthetic devices.
Additionally, obesity is a metabolic disorder that frequently co-occurs with a number of chronic conditions, increasing the risk of comorbidity and death. Worldwide obesity rates are rising quickly, making a lot of demand for obesity therapy. The demand for medical aesthetic devices has since increased and/or is continuing to increase. Over the projection period, this tendency is also anticipated to persist, fueling the market’s expansion.
The global market for medical aesthetic devices is predicted to grow slowly due to the state of the payment system. For instance, the cost of cosmetic surgery is not a covered expense under Mediclaim coverage. Most insurance companies do not provide coverage for these procedures. One of the biggest problems the businesses in the industry under study are with regards to reimbursement for aesthetic operations and equipment/devices. This in turn is limiting market expansion.
Concerns about social stigma are anticipated to impede the market’s expansion for medical aesthetic devices. For example, social stigma prevents people from having aesthetic operations. For example, there is still a perception that cosmetic surgery is only for the wealthy.
The Type of Device, Application, End User, and Geography segments are included in the worldwide medical aesthetic devices market report.
The market is divided into Energy-based Aesthetic Device and Non-Energy-Based Aesthetic Device based on the type of device. Due to the rising demand for energy-based aesthetic devices around the world, the energy-based aesthetic device segment is anticipated to dominate the medical aesthetic devices market over the forecast period. A variety of aesthetic applications, including skin tightening/resurfacing and body sculpting, are addressed by energy-based aesthetic devices.
The medical aesthetics devices market is broken down into different application categories, including skin resurfacing and tightening, body contouring and cellulite reduction, hair removal, facial aesthetics, breast augmentation, and other applications. Due to the rising geriatric population, the Skin Resurfacing and Tightening Segment is anticipated to dominate the market throughout the forecast period. A cosmetic technique called skin tightening aims to hide some ageing symptoms.
Due to the rise in breast augmentation procedures performed globally, the breast augmentation segment is also anticipated to experience rapid expansion in the near future. A surgical technique called breast augmentation aims to make the breasts bigger, fuller, or more symmetrical.
The market is divided into hospitals, clinics, and home settings based on the end user. Due to the rise in aesthetic operations performed all over the world, the hospitals segment is predicted to dominate the market over the forecast period.
The Clinics Segment is also anticipated to experience considerable growth in the near term, and this is due to the increasing use of minimally invasive procedures in various parts of the world.
Market Key Developments
Allergan Aesthetics, a division of AbbVie, declared that the U.S. JUVÉDERM VOLUX XC has been given FDA approval for improving jawline definition in persons over the age of 21 who have moderate to severe loss of jawline definition.
Bausch Health Companies Inc. and Ortho Dermatologics, a division of the company that specialises in dermatology, announced in June 2020 that ARAZLO (tazarotene) Lotion, 0.045%, is now marketed in the United States. U.S. government-approved The first tazarotene acne therapy accessible in a lotion formulation, ARAZLO, was approved by the Food and Drug Administration (FDA) in December 2019.
Key Companies Insights
The market for medical aesthetic products is very cutthroat. The market participants are concentrating on creating and releasing unique goods as a result of the increase in demand for medical aesthetic devices.
Along with others, this list includes Bausch Health Companies Inc., Venus Concept Inc., Abbive, El.En., Sciton Inc., Galderma, Sisram Med, Lumenis Inc., Johnson & Johnson, Cynosure, Inc., Syneron Candela, and Cutera Inc.
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Reasons to buy this Medical Aesthetic Devices Market Report:
✅️ It attempts an analysis of the competing scenario.
✅️ The current and exceptional product revenue market.
✅️ An in-depth data on the regional investigation and competitive landscape structure.
✅️ It benefits in creating an awareness of the important key product segments.
✅️ The marketing strategies, opportunities, and development factors are explained.
✅️ Medical Aesthetic Devices market size estimation and recent advancements in the industry are explained.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Medical Aesthetic Devices Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Medical Aesthetic Devices Industry Impact
Chapter 2 Global Medical Aesthetic Devices Competition by Types, Applications, and Top Regions and Countries
2.1 Global Medical Aesthetic Devices (Volume and Value) by Type
2.3 Global Medical Aesthetic Devices (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Medical Aesthetic Devices Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Medical Aesthetic Devices Market Analysis
Chapter 6 East Asia Medical Aesthetic Devices Market Analysis
Chapter 7 Europe Medical Aesthetic Devices Market Analysis
Chapter 8 South Asia Medical Aesthetic Devices Market Analysis
Chapter 9 Southeast Asia Medical Aesthetic Devices Market Analysis
Chapter 10 Middle East Medical Aesthetic Devices Market Analysis
Chapter 11 Africa Medical Aesthetic Devices Market Analysis
Chapter 12 Oceania Medical Aesthetic Devices Market Analysis
Chapter 13 South America Medical Aesthetic Devices Market Analysis
Chapter 14 Company Profiles and Key Figures in Medical Aesthetic Devices Business
Chapter 15 Global Medical Aesthetic Devices Market Forecast (2022-2028)
Chapter 16 Conclusions
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