Medical Aesthetic Devices Market 2024 [Latest Trends]: Analysis Future Opportunity and Demand Forecast Year 2030

The Latest Research Report on Medical Aesthetic Devices Market 2024 outlines the key factors influencing the growth of this area in terms of the competitive and geographic environment. In addition, the research discusses the obstacles to market growth and provides information on unexplored prospects that will promote company progress in the 2024-2030 forecast period.

Major Major Players are:

Abbvie Inc. (Allergan PLC), Alma Lasers Ltd (Sisram Med), Bausch Health Companies Inc. (Solta Medical Inc.), Cutera Inc., El. En. (Asclepion Laser Technologies), Lumenis Inc., Sciton Inc., Syneron Medical Ltd

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Medical Aesthetic Devices Market Overview:

Medical Aesthetic Devices Market Size (2024 - 2030)

The medical aesthetics market is projected to experience a compound annual growth rate (CAGR) of 10.9%, advancing from USD 10.42 billion in 2023 to USD 21.50 billion in 2030. Factors such as the availability of technologically advanced and user-friendly products, coupled with increased public awareness of cosmetic treatments, serve as significant drivers propelling market expansion.

MARKET OVERVIEW

The cosmetic and aesthetic device manufacturing sector faced disruptions in production and supply chain operations due to the global lockdown initiated at the onset of the COVID-19 pandemic. A survey conducted in March 2020, involving 1,360 cosmetic practitioners in the United Kingdom to assess the pandemic's impact on cosmetic operations, revealed that 99.78% of practitioners reported a substantial impact on their profession. Consumers increasingly turned to online platforms for cosmetic home treatments. This shift provides an opportunity for cosmetic firms to enhance their online offerings, provide e-consultation services, and invest in pertinent technologies such as chatbots and augmented/virtual reality as more individuals seek aesthetic guidance from the comfort of their homes.

Market growth is fueled by factors such as the escalating prevalence of obesity, heightened awareness of cosmetic procedures, growing acceptance of minimally invasive devices, and technological advancements in medical aesthetic devices.

Concerns regarding personal appearance continue to rise globally, prompting an increase in the annual number of cosmetic procedures performed. While the growth rate in developing countries may not be substantial, the fact remains that individuals, particularly with an improved standard of living, are becoming increasingly conscious of their appearance.

Asia, notably South Korea, China, and India, has emerged as a significant market for cosmetic surgery, with the industry witnessing a surge in popularity of minimally invasive and non-invasive aesthetic procedures. The widespread availability of information through the internet has contributed to heightened awareness of aesthetic operations, resulting in increased sales of medical aesthetic devices and a substantial expansion of the market size.

COVID-19 Impact on Medical Aesthetic Devices Market

The COVID-19 pandemic has significantly affected the medical aesthetics industry, introducing challenges in manufacturing and the supply chain. Short-term negative growth is observed due to lockdown measures, leading to decreased product demand from major end-users, limited operations across industries, temporary closures of key end-user facilities (such as beauty centers and spas), supply chain disruptions, and difficulties in providing essential/post-sales services. A study published in the Journal of Cutaneous and Aesthetic Surgery (September 2020) highlighted potential risks associated with certain lasers and devices, such as airborne pollutant transmission. Despite the impact, the global market for medical aesthetic products is gradually recovering.

MARKET DRIVERS

Increasing popularity of minimally invasive and non-invasive aesthetic procedures propels market growth

The preference for minimally invasive and non-invasive aesthetic procedures over traditional surgical methods has witnessed a significant rise in the past decade. These techniques offer advantages such as reduced pain, scars, and recovery time, along with lower costs compared to conventional surgeries. According to the International Society of Aesthetic Plastic Surgery (ISAPS), the number of plastic and cosmetic treatments increased by 5.4% between 2020 and 2021.

Growing demand for medical aesthetic devices drives market expansion

Emerging markets like China, Brazil, Mexico, and India present substantial opportunities for participants in the medical aesthetics industry. The demand for medical aesthetic devices is increasing in these regions due to rising medical tourism, a growing adult population (aged 20 and above), increased disposable incomes, and greater awareness of aesthetic specialties. The presence of a significant number of surgeons in these developing countries further contributes to the flourishing medical aesthetics market.

MARKET RESTRAINTS

Clinical risks and consequences associated with medical aesthetic therapies impede market growth

Despite the significant expansion of the market for aesthetic treatments, medical cosmetic procedures come with potential risks and consequences. While there has been an increase in the number of doctors and surgeons delivering safe and effective treatments, concerns about adverse effects during or after surgery persist.

Social and ethical concerns regarding cosmetic procedures limit industry expansion

Negative perceptions of aesthetic procedures, coupled with religious and ethical concerns related to specific treatments, contribute to social stigmas associated with cosmetic procedures. Despite the growing emphasis on looking younger, the social stigma linked to cosmetic treatments hampers their social acceptability, restricting market expansion.

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Market Segmentation are:

Segmentation By Product Type (Botox, Dermal Filler, Liposuction, Cellulite Reduction, Fat Reduction, Skin Tightening, Breast Implant, Tattoo Removal, Thread Lift); By End User (Clinic, Medical Spa, Hospital, Beauty Centre)

Medical Aesthetic Devices insights, overview and deep study of factors are considered to have greater influence over future course of the industry such as market size, market share, different dynamics of the industry, Medical Aesthetic Devices market companies, regional analysis of the domestic markets, value chain analysis, consumption, demand, key application areas and more.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

How will this report benefit potential stakeholders?

-Comprehensive assessment of all opportunities and risks in the Medical Aesthetic Devices market.
-The detailed study of business strategies for the growth of the Medical Aesthetic Devices market-leading players.
-Conclusive study about the growth plot of the Medical Aesthetic Devices market for forthcoming years.
-In-depth understanding of Medical Aesthetic Devices market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Medical Aesthetic Devices market.

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What Medical Aesthetic Devices Market report offers:

Medical Aesthetic Devices Market share assessments for the regional and country-level segments
Market share analysis of the top industry players
Medical Aesthetic Devices Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
Strategic recommendations in key business segments based on the market estimations
Competitive landscape covering following points: Company Overview, Product Portfolio, Financial Performance, Recent Highlights, Strategies

COVID-19 has had a major impact on the world economy in addition to that on the public health. This particular pandemic had caused severe economic destruction and not a single country has been left unaffected. The virus has forced businesses around the globe to change the way they operate. This report gives an analysis of the COVID-19 aftermath on Medical Aesthetic Devices market.

Competitive Rivalry:

The report highlights vital details based on the leading players in the global Industrial Medical Aesthetic Devices market. It features their details such as product/business portfolio, market share, financial status, regional share, segment revenue, SWOT analysis, manufacturing base, capacities, production volume, major vendors, raw material sourcing strategies, organizational structure. Their latest corporate deals, joint ventures, mergers and acquisitions, product launches, and other brand promotions are other facts about the market players included in the report.

We also offer customization on reports based on specific client requirement:

1- country-level analysis for any 5 countries of your choice.

2- Competitive analysis of any market players.

3- 40 analyst hours to cover any other data points

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Finally, Medical Aesthetic Devices Market is a valuable source of guidance for individuals and companies in decision framework.

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About us :

Cognate Lifesciences is a specialized hub for all market research reports related to Lifesciences Market. Some of the sub domains covered by our team are Pharmaceuticals, Medical Devices and Supplies, Healthcare, Diagnostics, Biotech, Therapeutics, Healthcare IT etc. We offer syndicated/customized market research studies along with advisory and consulting services.

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