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Global Medical Aesthetic Devices Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, Procedures, End Users & Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 720
Pages: 178
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Medical Aesthetic Devices Market Size (2022 to 2027)

The global medical aesthetic devices market is estimated to grow at a CAGR of 10.94% from 2022 to 2027. The size of the market is predicted to be USD 1.32 billion by 2027 from USD 0.78 billion in 2022.

A few of the key insights from this report:

  • Based on product type, the implants segment had the most significant share of the global medical aesthetic devices market in 2021.
  • The non-surgical segment dominated the market in 2021.
  • The Asia-Pacific captured the major share of the global market in 2021.
  • The North American region is anticipated to be worth USD 430 million by 2027.
  • The European region is expected to grow at a CAGR of 12.95% from 2022 to 2027.

Medical aesthetic devices enhance cosmetic appearance by undergoing surgeries or treatments for conditions such as scars, wrinkles, moles, excess fat, unwanted hair, liver spots, and skin discoloration. Generally, medical aesthetics involves surgeries and treatments like plastic surgery, dermatology, radiofrequency ablation, chemical peel, maxillofacial surgery, oral surgery, liposuction, breast implants, and reconstructive surgery. In addition, many people consider medical aesthetics to improve their quality of life and enhance their social engagement and psychological well-being.

MARKET DRIVERS:

YOY growth in the number of people concerned about physical appearance and signs of aging is one of the key factors propelling the medical aesthetic devices market.

In addition, the availability of technologically advanced products and treatment methods and the increasing disposable income of people leading to rising demand for cosmetic surgeries in developed and developing countries are some of the key factors driving the global medical aesthetic devices market. People also opt for advanced techniques such as radiofrequency and laser treatments, ensuring effective and satisfactory results. Furthermore, the rise in the population between 30 and 65 leads to increased demand for various medical aesthetic treatments and surgeries. This trend is expected to continue during the forecast period offering lucrative growth opportunities for the key players in the global medical aesthetics market.

The influx of advanced medical aesthetic techniques and practices with significant results creates growth opportunities for worldwide market stakeholders. Furthermore, increasing investments to escalate research and development activities to offer advanced treatment devices and surgical procedures regarding cosmetics are expected to create lucrative growth opportunities for the people involved in the global medical aesthetic devices market.

MARKET RESTRAINTS:

High costs associated with implementing and maintaining advanced surgical procedures are the major restraining factor for the medical aesthetic devices market growth.

Impact of COVID-19 on the global medical aesthetics devices market:

COVID-19 is a worldwide public health crisis that has impacted almost every industry. The Medical Aesthetics Devices market is experiencing short-term negative growth, which can be due to factors such as a drop in product demand from major end-users. Medical aesthetic devices treat aesthetic impairments such as skin laxity, extra weight, cellulite, acne, moles, wrinkles, unwanted hair, liver spots, spider veins, and skin discoloration. Because of the global lockdown enforced at the start of the COVID-19 epidemic, cosmetic and aesthetic device manufacturers were forced to close manufacturing and procurement units.

The beauty and luxury industry faces production and supply chain problems, such as supplying goods to end customers on schedule and dealing with unequal demand for products and services. Remote working, however, has raised the amount of time spent on Zoom calls. In addition, adults pay particular attention to their physical presence. This has boosted the market for cosmetic surgeries, with Botox being one of the most common. Furthermore, patients are now opting for surgical surgery due to the ease of treatment at home. As a result, COVID-19 has significantly influenced the global demand for medical aesthetic devices. However, things are steadily getting better day by day.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Product Type, Procedure, End-User, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis; Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

This research report on the global medical aesthetic devices market has been segmented and sub-segmented based on the product type, procedure, end-user, and region.

Medical Aesthetic Devices Market – By Product Type:

  • Energy-Based Devices    
    • Aesthetic Laser Devices
    • Body Contouring Devices
    • Microdermabrasion
    • Ultrasound
  • Implants  
  • Anti-Wrinkle Products    
    • Botulinum toxin
    • Dermal Fillers
    • Chemical Peel

Based on product type, the anti-wrinkle products segment is estimated to show considerable growth during the forecast period due to the complete accessibility of these products, immediate and continual results, and deteriorating costs.

However, the implants segment dominated the medical aesthetic devices market in 2021.

On the other hand, the energy-based devices segment is also expected to gain a substantial share in the market during the forecast period due to the increasing demand for minimally invasive and non-invasive techniques for various purposes like body contouring, skin tightening, skin resurfacing, etc. 

Medical Aesthetic Devices Market – By Procedure:

  • Cosmetic Procedures     
    • Minimally Invasive
    • Surgical Procedures
  • Reconstruction Procedures

Based on procedure, the minimally invasive and non-surgical procedures led the market in 2021 and are anticipated to continue leading the market during the forecast period due to the rising demand for these procedures in the aesthetic industry. In addition, populations prefer to reduce fat, use anti-aging procedures, and even reshape faces with natural techniques without surgery. 

However, the reconstruction procedures segment is expected to have a promising share of the global medical aesthetic devices market during the forecast period due to more people opting for changing their facial structures and due to increased cases of disfiguration due to accidents. 

Medical Aesthetic Devices Market – By End Users:

  • Home Use       
  • Clinics and Beauty Centers    

Based on end-users, the clinics and beauty centers segment dominate the market. It is growing at a high pace due to a rise in the number of clinics and medical spas, increasing investments for providing better infrastructure and resources in hospitals, and the availability of skilled professionals. In addition, trained staff to operate aesthetic procedures increased the adoption rate of technologically advanced devices.  

However, the home use segment is expected to witness growth during the forecast period due to the increasing interest in home care services, especially after the pandemic. As a result, more people are now opting for the comfort of having services provided to them at home. 

Medical Aesthetic Devices Market – By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

The Asia Pacific medical aesthetic devices market held the leading share of the worldwide market in 2021, owing to many surgical procedures performed in developing countries like South Korea, Japan, and China each year. Furthermore, increasing disposable income and a large working population create demand for aesthetic procedures in these countries. Additionally, the lower costs for procedures and the hike in medical tourism systems support the market's growth. Furthermore, the growing geriatric pool of the region needing personal care services promotes market growth. In addition, rising advances in the medical industry, along with the growing awareness regarding better healthcare services in the area, promote growth. 

The North American medical aesthetic devices market contributes substantially to the global market. It is expected to witness growth during the forecast period due to increasing treatment procedures and adopting novel and advanced technologies. Additionally, key market players in the region established healthcare infrastructures, and increasing interest in personal care in countries like the U.S. and Canada are expected to help market growth. 

The European medical aesthetic devices market held a moderate share of the global market in 2021.

The Latin American medical aesthetic devices market and the Middle East and African medical aesthetic devices market are anticipated to grow at a CAGR of 11.17% and 10.46%, respectively, during the forecast period.

KEY MARKET PLAYERS:

The global medical aesthetic devices market is highly fragmented, with many local players competing with international players. Some of the notable participants dominating the global medical aesthetic devices market are Allergan, Cynosure, Johnson & Johnson, LCA Pharmaceutical, Galderma Pharma, Solta Medical, Cutera, Focus Medical, Human Med Ag, Genzyme Corporation, Alcon Inc., and Alma Lasers.

RECENT MARKET HAPPENINGS:

  • In November 2022, A leader in medical aesthetic technology, Venus Concept Inc., recently released its financial results for the three- and nine months ending September 30, 2022. Total revenue of $21.5 million was down $3.0 million, or 12%, from last year's period. U.S. revenue was also down 4%. However, cash system sales increased 30% from the same period, accounting for around 59% of total systems and subscriptions revenue, up from 39%.
  • In November 2022, Global consumer wellness company Sisram Medical Ltd. (the "Company" or "Sisram," stock code: 1696. HK; collectively referred to as the "Group") is pleased to announce that the event "Alma Academy," attended by more than 500 doctors from 47 different nations, was successfully held in Dubai, United Arab Emirates, from November 10th through the 13th, 2022. Alma Academy is a cutting-edge method for closely connecting with the market that enables the company to influence public opinion in favor of Sisram's mission and solutions.
  • In October 2022, Aesthetics Biomedical, a provider of medical aesthetics products, services, and devices, today announced that the FDA had approved the use of its Vivace Ultra device for electrocoagulation and hemostasis in dermatologic and general surgical procedures. The system includes various RF options and a HIPAA-compliant patient data-tracking system that gathers information about the patient's numerous treatment regions below the skin to create an effective treatment plan.
  • In October 2022, Flawless Beauty & Skin and Med Pen Concepts received warning letters from the US FDA for allegedly marketing noncompliant medical equipment. The Aesthetic Guide also recognized Crown Aesthetics' SkinPen Precision as "Best in Industry-Nonsurgical Innovation."

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FAQ's

What was the size of the global medical aesthetic devices market in 2021?

The global medical aesthetic devices market was valued at USD 700 million in 2021.

Which region occupied major share of the global medical aesthetic devices market in 2021?

Geographically, the North American region accounted for the most significant share of the market in 2021.

Which segment by product dominated the medical aesthetic devices market in 2021?

Based on the product, the anti-wrinkle product segment accounted for the major share of the market in 2021.

Who are some of the notable players in the medical aesthetic devices market?

Allergan, Cynosure, Johnson & Johnson, LCA Pharmaceutical, Galderma Pharma, Solta Medical, Cutera, Focus Medical, and Human Med Ag, Genzyme Corporation, Alcon Inc., and Alma Lasers are some of the key players in the medical aesthetic devices market.

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