US & Canada, Nov. 26, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global aesthetic medical devices market is observing significant growth owing to the surge in the adoption of minimally invasive and noninvasive aesthetic procedures and the increase in the prevalence of skin disorders and consumer awareness about skincare treatments.
The report carries out an in-depth analysis of market trends, key players, and future opportunities. The aesthetic medical devices market entails an array of platforms and services that are expected to dominate the market in the coming years.
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The report from The Insight Partners lists several stakeholders—including aesthetic medical device companies, healthcare providers, distributors and suppliers of aesthetic medical devices, academic institutions, and research organizations—along with valuable insights on how to successfully navigate this evolving market landscape and unlock new opportunities.
Overview of Report Findings
Market Growth: The aesthetic medical devices market is expected to reach US$ 44.60 billion by 2031 from US$ 19.21 billion in 2023; it is anticipated to record a CAGR of 11.1% during the forecast period. Aesthetic medical devices are specialized tools and technologies used in cosmetic procedures to enhance physical appearance. These devices include cosmetic lasers, radiofrequency (RF) systems, ultrasound technology, and injectables such as dermal fillers. Aesthetic medical devices are designed for both noninvasive and minimally invasive treatments, targeting various concerns such as skin rejuvenation, body contouring, and hair removal. These devices are commonly utilized in medical spas, dermatology clinics, and cosmetic surgery practices. The aesthetic medical devices market is growing continuously owing to increasing consumer demand for aesthetic treatments, advancements in technology, and a rising awareness of personal appearance among various demographics. Moreover, the rise in the incidence of congenital face & tooth deformities and an increase in awareness of aesthetic appearance are expected to favor the market growth in the coming years.
Increase in Prevalence of Skin Disorders and Consumer Awareness Regarding Skincare Treatments: The prevalence of disorders such as dermatitis, acne, psoriasis, and other skin anomalies, including warts, moles, and lesions, is increasing worldwide. According to the American Academy of Dermatology Association, acne is the most common skin condition in the US and affects ~50 million Americans annually. There is a global demand for laser treatments, body contouring, and skin tightening. As per The Aesthetic Society, 41,301 skin rejuvenation procedures were performed in the US, generating a revenue of US$ 31,567,167 in 2021. Additionally, consumer awareness about skincare treatments is increasing the number of medspas and skin clinics that provide affordable skin treatments for various skin conditions. Thus, an increase in the prevalence of skin disorders and consumer awareness regarding skincare treatments drives the market.
Rise in Medical Tourism Worldwide: Countries such as Brazil, South Korea, Turkey, India, Germany, Mexico, Spain, and Malaysia are becoming hotspots for medical tourism destinations. According to Forbes, Brazil recorded the second-highest number of cosmetic procedures worldwide after China and the US in 2020. In the same year, 1.49 million plastic surgery procedures took place in Brazil, with liposuction, breast augmentation, and abdominoplasty being the most popular treatments. Additionally, according to the Medical Tourism Index, Mexico has emerged as a top medical tourism destination, attracting patients from all over the world, especially from the US and Canada. Mexico City had the highest density of plastic surgeons per population as of February 2020, with 434 licensed physicians practicing that specialty. In 2020, over 74,000 liposuctions were performed in Mexico, making it the most common plastic surgery procedure in the country. Thus, the rise in medical tourism fuels the aesthetic medical devices market growth.
Geographical Insights: In 2023, North America led the aesthetic medical devices market with a substantial revenue share, followed by Europe and APAC, respectively. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.
Report Scope & Segmentation-
| Report Coverage | Details | |||
| Forecast Period | 2024-2031 | |||
| Forecast Period 2023 to 2030 CAGR | 11.1 | % | ||
| 2031 Value Projection | US$ 44.60 Billion | |||
| Base Year | 2023 | |||
| Proposal Management Software Market Size in 2023 | US$ 19.21 Billion | |||
| Historical Data for | 2021-2022 | |||
| No. of Pages | 400 | |||
| Segments covered | By Technology, By Technology, & By End User | |||
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Regional analysis -
- The Europe aesthetic medical devices market was valued at US$ 6,010.73 million in 2023 and is expected to reach US$ 13,739.86 million by 2031; it is estimated to register a CAGR of 10.9% from 2023 to 2031.
- The Asia Pacific aesthetic medical devices market was valued at US$ 4,158.02 million in 2023 and is expected to reach US$ 9,938.72 million by 2031; it is estimated to register a CAGR of 11.5% from 2023 to 2031.
- The Middle East & Africa aesthetic medical devices market was valued at US$ 863.44 million in 2023 and is expected to reach US$ 1,879.53 million by 2031; it is estimated to register a CAGR of 10.2% from 2023 to 2031.
Market Segmentation
- Based on technology, the aesthetic medical devices market is segmented into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, plasma energy-based, EMS, and microwave. The laser-based segment held the largest share of the market in 2023.
- By application, the aesthetic medical devices market is categorized into acne and acne scars, hair removal, facial skin resurfacing, photorejuvenation, skin tightening, feminine rejuvenation, fat reduction and body contouring, tattoos and pigmentation, vascular lesions, cellulite reduction, and others. The acne and acne scars segment accounted for the largest share of the market in 2023.
- Based on end user, the aesthetic medical devices market is segmented into dermatology and cosmetic clinics, hospitals and clinics, medical spas, and home use. The dermatology and cosmetic clinics segment led the market in 2023.
- The aesthetic medical devices market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
Competitive Strategy and Development
- Key Players: A few of the major companies operating in the aesthetic medical devices market are Alma Lasers, Merz Pharma GmbH Co KGaA, Bausch Health Companies Inc, Lumenis Be Ltd, Venus Concept Inc, Cutera Inc, Fotona, InMode, Asclepion Laser Technologies GmbH, and Cynosure LLC.
- Trending Topics: AI-driven aesthetic devices, telemedicine and virtual consultations in aesthetic treatments, holistic beauty and wellness integration, biostimulation and regenerative aesthetics, and wearable aesthetic devices, among others.
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Global Headlines on Aesthetic Medical Devices
- Cynosure and Lutronic Announce Merger to Create a Leading Global Medical Aesthetics Technology Company
- Venus Concept Launches Venus Versa Pro, its new multi-application platform for face and body treatments
- Aesthetics Biomedical Announces Collaboration with US Dermatology Partners Offering Consumers Luxury Experiential Aesthetic Treatments
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Conclusion
The aesthetic medical devices market is experiencing robust growth, driven by rising demand for noninvasive and minimally invasive procedures, technological advancements, and increasing consumer awareness about appearance enhancement. Moreover, factors such as the aging population, growing preference for personalized treatments, and the increasing availability of advanced, user-friendly devices have fueled the market expansion. Additionally, the integration of artificial intelligence, automation, and improved safety protocols in devices is driving innovation and user confidence, which significantly supports the market growth. Also, there is a surge in demand from emerging markets, particularly in Asia Pacific, driven by growing disposable incomes and changing beauty standards. The increasing popularity of home-use aesthetic devices, offering consumers convenience and affordability, is expected to bring new trends into the market during the forecast period.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com
Phone: +1-646-491-9876
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