Middle East and North Africa Medical Aesthetic Devices Market is expected to rise at a CAGR of 12.20% with US$755.8 mn by the end of 2024

As per the report, the Middle East and North Africa market for medical aesthetic devices was worth US$275.0 bn in 2015. Expanding at a CAGR of 12.20% during the period from 2016 to 2024, the opportunity in this market is projected to reach US$755.8 mn by the end of the forecast period. The demand for these devices has been higher in facial and body contouring treatment. Researchers expect the segment to continue as the dominant application area over the forthcoming years.

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Middle East to Retain Dominance

In this research report, the Middle East and North Africa market for medical aesthetic devices has been broadly classified into two geographical segments: The Middle East and North Africa. Between the two, the Middle Eastern market the bigger one. It dominated the overall market in 2015 with a share of more than 58% and is anticipated to remain doing so throughout the forecast period.

Saudi Arabia, the UAE, Qatar, Oman, Kuwait, Bahrain, Iraq, Lebanon, Syria, Jordan, and the Rest of the Middle East have been recognized as the main geographical segments of the Middle East medical aesthetic devices market in this study. Among these Saudi Arabia has surfaced as the leading domestic market for these devices in this region.

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The report further analyzes the Middle East and North Africa medical aesthetic devices market on the basis of the products available in this market, which are aesthetic laser and energy devices, skin tightening and body contouring devices, aesthetic implants, and facial aesthetic devices. The demand for skin tightening and body contouring devices is higher than others, thanks to the increased beauty consciousness, product innovations, and the rising awareness among consumers. The scenario is likely to remain so over the next few years, states the research report.

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Rise in Cosmetic Surgical Procedures to Drive Growth

“The increasing consciousness among consumers regarding their looks and personality is the main factor behind the growth of the Middle East and North Africa market for medical aesthetic devices,” says an analyst at TMR. With the rising disposable income in this region, the purchasing power of consumers has increased significantly, which has shifted their focus towards beauty and personal grooming, leading to a substantial surge in cosmetic surgical procedures. This, as a result, has been fueling the demand for medical aesthetic devices in the Middle East and North Africa.

According to the study, the future of this market is teeming with opportunities, making it highly lucrative. However, the competitive pricing and equipment costs and unfavorable reimbursement policies may hamper the market’s growth in the near future.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.