The global Medical Aesthetic Devices market size is expected to reach USD 149.06 Billion in 2030 and register a revenue CAGR of 9.9% over the forecast period, according to the latest report by Reports and Data. Increasing inclination toward enhancing facial and bodily aesthetic appearance along with advancements in surgical as well as non-surgical aesthetic treatments is driving Medical Aesthetic Devices market revenue growth.
Medical Aesthetic Devices is an emerging field t that focuses on altering cosmetic appearance through the treatment of conditions including scars, skin laxity, wrinkles, moles, liver spots, excess fat, cellulite, unwanted hair, skin discoloration, and spider veins among others. Rising accessibility to advanced aesthetic enhancing procedures that are effective and minimally invasive are contributing to the overall market revenue growth. Moreover, increase in demand for non-invasive cosmetic surgeries, growing incidences of accidents and trauma cases, increasing prevalence of congenital face and tooth abnormalities, and technological innovations is fueling the market revenue growth.
Less pain, faster outcomes, and lower costs are few factors contributing to demand for non-invasive procedures which is, in turn, driving the overall Medical Aesthetic Devices market revenue share. Botox injections, soft tissue fillers, and chemical peels are some of the popular non-invasive procedures.
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Growth of medical tourism, increase in preference for a better quality of life, and rise in popularity of celebrities opting for surgeries to look more aesthetically appealing are expected to provide numerous growth opportunities to the market.
Some Key Highlights From the Report
- In December 2021, Allergen Aesthetics, a part of AbbVie, acquired a medical technology company, Soliton, Inc., a medical technology manufacturer in Houston, Texas. This acquisition will strengthen the market’s portfolio of non-invasive body contouring treatments.
- Implant segment is expected to register a fast growth rate during the forecast period owing to increasing patient demand for facial aesthetic treatments, increasing disposable income and spending capabilities, and rising geriatric population across the globe. Aesthetic implants are the devices intended to enhance the physical appearance and improve their image. Implantation is usually performed for cosmetic purposes as well as to rectify the deformed shape of the organ.
- Hospitals clinics segment accounted for a significantly large revenue share in 2021. Availability of sophisticated professional devices, strict legislative guidelines for usage, and availability of skilled professionals are some factors responsible for growth of this segment.
- Non-surgical segment accounted for a significantly large revenue share in 2021. Non-surgical cosmetic procedures are non-invasive and aim at improving the physical appearance and satisfaction of the patient. The skin is not cut during the procedure. However, these procedures not only focus on the surface; they use devices that activate the skin’s deep layers to stimulate changes.
- Market in North America accounted for largest revenue share in 2021. This can be attributed to the strong presence of leading medical device manufacturers. North America is expected to continue to account for largest revenue share throughout the forecast period owing to higher purchasing power of the consumers, an increased emphasis on innovation, and growing number of aesthetic companies operating out of the US. Moreover, an increase in the geriatric population and a high number of consumers looking for ways to delay or reverse signs of aging are other factors driving the market growth in North America.
Research Methodology:
Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Medical Aesthetic Devices Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and RD activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and RD activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as RD investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
- AbbVie Inc.
- Galderma
- Alma Lasers
- Cynosure
- Johnson Johnson Private Limited
- Lumenis Be Ltd.
- Solta Medical
- Candela Medical
- Hologic, Inc.
- Dentsply Sirona.
Medical Aesthetic Devices Market Segmentation:
Type Outlook:
- Energy-Based Devices
- Aesthetic Laser Devices
- Body Contouring and Skin Tightening Devices
- Microdermabrasion Devices
- Ultrasound Devices
- Implants
- Dental Implants
- Breast Implants
- Facial Implants
- Others
- Anti-Wrinkle Products
- Botulinum Toxin/Botox
- Dermal Fillers
- Chemical Peel
Application Outlook:
- Surgical
- Non-surgical
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Medical Aesthetic Devices market over the forecast period?
- What are the major factors driving the growth of the Global Medical Aesthetic Devices Market?
- What are the key challenges impacting the global Medical Aesthetic Devices market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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