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.

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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.

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

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