Medical Aesthetic Devices Market Growing at 10.7% CAGR, Set to Reach USD 38.91 Bn By 2030, Exclusive Report

According to the report published by Allied Market Research, the global medical aesthetic devices market was estimated at $13.52 billion in 2020 and is expected to hit $38.91 billion by 2030, registering a CAGR of 10.7% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Market Growth: The medical aesthetic devices market has experienced significant growth in recent years and is expected to continue expanding. Factors such as an increasing desire for cosmetic procedures, advancements in technology, and a growing aging population are driving market growth.

Demand for Non-Invasive Procedures: There is a rising demand for non-invasive or minimally invasive aesthetic procedures. Patients prefer treatments that require minimal downtime and have fewer risks compared to surgical procedures. This has led to the development of various non-invasive medical aesthetic devices such as lasers, radiofrequency devices, and ultrasound devices.

Technological Advancements: The medical aesthetic devices market is characterized by continuous technological advancements. New devices with improved efficacy, safety, and precision are being introduced regularly. For example, the development of laser devices with advanced wavelengths and energy settings has expanded the range of treatable conditions.

Increasing Popularity of Energy-Based Devices: Energy-based devices, including laser and radiofrequency devices, are gaining popularity in the medical aesthetic field. These devices provide effective solutions for skin rejuvenation, hair removal, tattoo removal, body contouring, and various other aesthetic treatments. They offer precise targeting of tissues while minimizing damage to the surrounding areas.

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Market Drivers:

Increasing Demand for Aesthetic Procedures: There has been a significant rise in the demand for aesthetic procedures worldwide. Factors such as a growing emphasis on physical appearance, changing beauty standards, and increasing disposable income have contributed to the popularity of aesthetic treatments. This demand is driving the adoption of medical aesthetic devices.

Advancements in Technology: Technological advancements have played a crucial role in the growth of the medical aesthetic devices market. Innovations in areas such as laser technology, radiofrequency devices, ultrasound, and energy-based devices have improved the effectiveness and safety of aesthetic procedures. These advancements have led to a wider range of treatment options, better outcomes, and increased patient satisfaction.

Aging Population: The global population is aging, with a larger proportion of elderly individuals. Aging is associated with various cosmetic concerns such as wrinkles, sagging skin, and age spots. As a result, there is a growing demand for anti-aging treatments and procedures. Medical aesthetic devices provide non-surgical options to address these concerns, driving market growth.

Market Segmentation:

Product Type:

• Laser-based Devices: Includes devices such as ablative lasers, non-ablative lasers, fractional lasers, and hair removal lasers.
• Energy-based Devices: Includes radiofrequency devices, ultrasound devices, and intense pulsed light (IPL) devices.
• Facial Aesthetic Devices: Includes devices for facial rejuvenation, wrinkle reduction, skin tightening, and facial implants.
• Body Contouring Devices: Includes devices for non-surgical fat reduction, cellulite reduction, and skin tightening.

End-User:

• • Clinics and Medspas: Includes standalone aesthetic clinics, medical spas, and dermatology clinics.
  • Hospitals: Includes hospitals and surgical centers offering aesthetic procedures.
  • Homecare Settings: Includes devices designed for home use, such as handheld lasers and IPL devices.

Application:

• Skin Rejuvenation and Resurfacing: Includes treatments for wrinkle reduction, skin tightening, and texture improvement.
• Body Contouring and Cellulite Reduction: Includes treatments for fat reduction, body sculpting, and cellulite reduction.
• Hair Removal: Includes permanent hair reduction treatments using laser or IPL devices.

Geography:

• North America: Includes the United States and Canada.
• Europe: Includes countries in Western Europe, Eastern Europe, and the United Kingdom.
• Asia-Pacific: Includes countries such as China, Japan, India, Australia, and South Korea.
• Latin America: Includes countries in Central and South America

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Regional Growth Dynamics:

North America dominated in 2020, garnering nearly two-fifths of the global medical aesthetic devices market, owing to increased adoption of medial aesthetics, enhanced technological advancements, and development of novel products by the key players in the province. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 11.7% throughout the forecast period. Improvement in R&D facilities, increase in medical tourism, and rise in awareness about medical aesthetics drive the market growth in the region.

Competitive Landscape:

• Johnson & Johnson
• LUMENIS LTD
• MERZ PHARMA GMBH & CO. KGAA
• Hologic, Inc.
• Zimmer Biomet Holdings, Inc.
• Allergan plc
• Sientra Inc
• Dentsply Sirona Inc.
• SYNERON MEDICAL LTD

Recent developments:

• Advancements in Laser Technology: There have been notable advancements in laser technology for medical aesthetic devices. For example, the development of picosecond lasers has improved tattoo removal outcomes by delivering ultra-short pulses of energy, resulting in faster and more effective treatment.
• Non-Invasive Body Contouring Devices: The market has seen the introduction of advanced non-invasive body contouring devices that use technologies such as radiofrequency, ultrasound, and cryolipolysis. These devices offer effective fat reduction and body sculpting without surgery or downtime.

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VALUE PROPOSITIONS RELATED TO THE REPORT:

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• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment

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