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Medical Aesthetic Devices Market Expected Reach $38.9 billion by 2031, Grow a CAGR Of 10.7% Forecast 2021-2030 | AMR
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Key Takeaways:
Growing Demand: The Medical Aesthetic Devices market has been experiencing significant growth due to the increasing demand for minimally invasive cosmetic procedures. Patients are seeking non-surgical treatments with shorter recovery times.
Technological Advancements: Rapid advancements in technology have led to the development of innovative medical aesthetic devices. These devices offer better precision, safety, and efficiency in delivering various cosmetic treatments.
Diverse Treatment Options: Medical aesthetic devices cover a wide range of treatments, including skin rejuvenation, body contouring, hair removal, tattoo removal, and anti-aging therapies. This diversity of treatments caters to a broad consumer base.
Minimally Invasive Procedures: Patients are favoring minimally invasive procedures over traditional surgical methods due to reduced risk, minimal scarring, and quicker recovery times. Medical aesthetic devices play a pivotal role in delivering these procedures.
Global Market Growth: The market for medical aesthetic devices is not limited to a specific region. It has experienced global growth, with increasing adoption in both developed and developing countries.
Market Drivers:
Rising Demand for Non-Invasive Procedures: Patients are increasingly seeking cosmetic treatments that offer noticeable results without the need for surgery. Medical aesthetic devices provide non-invasive or minimally invasive options, which appeal to individuals looking for less downtime and reduced risk.
Growing Aging Population: As the global population continues to age, there is a higher demand for anti-aging and rejuvenation treatments. Medical aesthetic devices address concerns like wrinkles, fine lines, and skin laxity, catering to older individuals seeking to maintain a youthful appearance.
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Covid-19 Scenario-
The global economic recession, decline in product demand, and temporary closure of most of the beauty centers affected the medical aesthetic devices market, especially during the initial phase of the pandemic.
However, the market is anticipated to recoup really soon.
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Market Segmentation:
Product Type:
Laser-Based Devices: Including fractional lasers, CO2 lasers, and diode lasers for skin resurfacing, hair removal, and tattoo removal.
Energy-Based Devices: Such as radiofrequency (RF) devices, ultrasound devices, and intense pulsed light (IPL) systems for skin tightening and body contouring.
Injectables: Including dermal fillers and botulinum toxin products for facial rejuvenation and wrinkle reduction.
Microdermabrasion Devices: Exfoliating devices that improve skin texture and tone.
Cryolipolysis Devices: Non-surgical fat reduction devices that use controlled cooling to target and eliminate fat cells.
Application:
Skin Rejuvenation: Devices for improving skin texture, tone, and reducing signs of aging.
Body Contouring: Devices targeting fat reduction, cellulite reduction, and skin tightening.
Hair Removal: Devices for permanent or long-lasting hair removal.
Tattoo Removal: Laser devices that break down tattoo pigments for removal.
Acne Treatment: Devices targeting acne and acne scars using light or energy-based methods.
Scar and Stretch Mark Treatment: Devices for reducing the appearance of scars and stretch marks.
Anti-Aging Treatments: Devices addressing wrinkles, fine lines, and volume loss.
End User:
Clinics and Medical Spas: Professional settings where licensed healthcare providers offer aesthetic treatments.
Hospitals: Medical facilities that offer a range of aesthetic treatments alongside medical procedures.
Home Use Devices: Increasingly, certain devices are designed for use at home, under the guidance of healthcare professionals.
Geography:
North America: Including the United States and Canada.
Europe: Including countries within the European Union and the United Kingdom.
Asia-Pacific: Encompassing countries like China, Japan, India, and South Korea.
Latin America: Covering countries in Central and South America.
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Regional Growth Dynamics:
By region, 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.
Key players in the industry:
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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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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