The medical aesthetic devices market would grow at a CAGR of 10.7% over the predicted time frame. The market is expected to increase in value from US$ 16.7 Bn in 2022 to US$ 38.91Bn in 2030
Medical aesthetic devices are used to correct issues relating to an individual's physical appearance. With rising obvious enlarged requirement for cosmetic operations throughout the globe, the worldwide medical aesthetic devices market is expected to thrive. The worldwide medical aesthetic devices market is projected to be driven by greater use of less invasive treatments, higher awareness of cosmetic operations, and the world's rising obesity rate.
Furthermore, technological advancements in the medical profession are expected to fuel demand for medical aesthetic operations in the coming years. People now have easy access to information thanks to the rise in popularity of social media and the internet. People are becoming more aware of the availability of cosmetic procedures as information becomes more readily available. With an increase in the number of social media users and more awareness, the worldwide medical aesthetic devices market is expected to develop in the next years.
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Report Scope of the Medical Aesthetic Devices Market
| Report Coverage | Details |
| Market Size by 2030 | USD 38.91 Billion |
| Growth Rate from 2022 to 2030 |
CAGR of 10.7% |
| Largest Market | North America |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Type, Application, End User, Region |
Regional Snapshot
Medical aesthetic technology has progressed in North America, notably in the United States, over the previous two decades. Technological developments in equipment, increased awareness of aesthetic procedures, increased usage of minimally invasive methods, and a growing obese population in the region are all expected to have a beneficial influence on the examined market growth in the region. According to the report published by American Society of Plastic Surgeons, 18.1 million cosmetic operations were conducted in 2019, an increase of 2% over 2018. Furthermore, a growth in the senior population, advantageous reimbursement rates, the frequency of congenital tooth and facial defects, and sophisticated healthcare infrastructure are projected to boost the medical aesthetic Devices business.
Market Dynamics
Driver
Growth in invasive and non invasive cosmetic procedures
Over the last decade, there has been a considerable growth in the desire for minimally invasive and noninvasive cosmetic operations over standard surgical procedures. Minimally invasive/nonsurgical techniques provide various advantages over standard surgical procedures, including less discomfort, scarring, and quicker recovery. In addition, these techniques are less costly than traditional surgical procedures. According to the International Society of Aesthetic Plastic Surgery (ISAPS), number of plastic and cosmetic procedures increased by 5.4 percent between 2017 and 2018. Moreover, the medical aesthetic devices market will be propelled by rising research and development efforts for the launch of novel products in the industry. In June 2020, Cynosure, for example, debuted the Elite iQ platform, the next version of the Elite+ Aesthetic Workstation, in the United States, Europe, and Australia for laser hair removal and skin rejuvenation applications. As a result of the factors mentioned and increased product launches, the market under consideration is expected to grow over the forecast period.
Restraint
High treatment costs
However, low reimbursements, high treatment costs and the risk of implant malfunctions limit market growth. The rise of the medical tourism sector, the introduction of tourism medical spas, and the acceptance of aesthetic operations to enhance physical appearance, on the other hand, are likely to open up new prospects for major market participants and increase the medical aesthetic industry.
Opportunity
Emerging markets
Medical aesthetics market participants may benefit from emerging markets such as China, Brazil, Mexico, and India. Medical aesthetic device demand is increasing in these nations as a result of rapid medical tourism growth, an ageing adult population (aged 20 and up), rising disposable budgets, and increased knowledge of aesthetic specialty. The presence of a high number of surgeons in these emerging markets is also assisting in the advancement of the medical aesthetics industry.
Challenge
Social stigmas associated with cosmetic treatments
Negative remarks of aesthetic operations, as well as religious and ethical concerns about some aesthetic treatments, such as modifications, augmentations, erasures, and fillings, contribute to social stigmas linked with cosmetic treatments (surgical and nonsurgical). Despite the fact that many people have had cosmetic surgery, few of them prefer to talk about it. Invasive anti-aging therapies like BOTOX or cosmetic surgery are seen by some as vain, self-centered, or mentally sick. Despite the growing desire among the elderly to seem younger, cosmetic age masking may have detrimental societal implications. The social stigma linked to cosmetic operations has a detrimental influence on societal acceptability, suffocating industry expansion.
Some of the prominent players Market:
- Allergan plc
- Dentsply Sirona Inc.
- Johnson & Johnson
- LUMENIS LTD
- MERZ PHARMA GMBH & CO. KGAA
- Hologic, Inc.
- Sientra Inc
- SYNERON MEDICAL LTD
- VALEANT PHARMACEUTICAL INTERNATIONAL, INC
- Zimmer Biomet Holdings, Inc.
Market Segmentation
By Type
- Devices
- Energy-based Aesthetic Device
- Laser-based Aesthetic Device
- Radiofrequency (RF)-based Aesthetic Device
- Light-based Aesthetic Device
- Ultrasound Aesthetic Device
- Non-energy-based Aesthetic Device
- Botulinum Toxin
- Dermal Fillers and Aesthetic Threads
- Microdermabrasion
- Other
- Aesthetic Implants
- Facial Implants
- Breast Implants
- Others
By Application
- Surgical
- Non Surgical
By End User
- Hospitals and Clinics
- Medical Spas and Beauty Centers
By Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
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