Global Medical Aesthetic Device Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Medical Aesthetic Device Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Medical aesthetic devices are used to treat impairments associated with a person's aesthetic appearance, such as skin laxity, excessive fat, cellulite, scars, moles, wrinkles, unwanted hair, liver spots, spider veins, and skin discoloration.

Medical aesthetic devices refer to all medical devices that are used for various cosmetic procedures, which include plastic surgery, unwanted hair removal, excess fat removal, anti-aging, aesthetic implants, skin tightening, etc., that are used for beautification, correction, and improvement of the body.

Market Overview:

The latest research study on the global Medical Aesthetic Device market finds that the global Medical Aesthetic Device market reached a value of USD 4410.03 million in 2022. It’s expected that the market will achieve USD 8417.4 million by 2028, exhibiting a CAGR of 11.38% during the forecast period.

Tight supply of raw materials

Affected by COVID-19, logistics will be suspended, and the supply of raw materials for Medical Aesthetic Device will be tight. Production was stagnant, the company's inventory increased, and the production of related enterprises in the severely affected areas was greatly affected. The short-term epidemic has less impact on the supply of raw materials for enterprises, mainly consuming stock materials, and the long-term epidemic will cause incalculable losses. If the epidemic develops further and logistics is always unsatisfactory, small and medium-sized Medical Aesthetic Device enterprises are likely to be shut down due to insufficient raw material supply, and even large enterprises will face the same problem.

The development of medical aesthetics

The cosmetic and aesthetic devices manufacturers had to shut down the production and supply units due to the lockdown, that was imposed in the beginning of the COVID-19 outbreak, globally. Because strict guidelines and blockades implemented by governments around the world have slowed down the medical aesthetic device market.
According to a survey by Hamilton Fraser Cosmetic Insurance, conducted in March 2020, with 1,360 cosmetic practitioners in the United Kingdom to assess the impact of the pandemic on cosmetic procedures, stated that 99.78% of practitioners revealed that their practice had been affected during the current pandemic.
Additionally, consumers are also looking for online cosmetic home treatments. Thus, the medical aesthetic devices brands can exploit this opportunity to renovate their online offerings, to offer e-consultation services, and invest in the right technology, such as chatbots and augmented/virtual reality, as more consumers seek cosmetic advice from the comfort of their home during the pandemic, which reduces the risk of being infected.

Emerging markets

Emerging countries such as China and India present significant opportunities for players operating in the medical aesthetics market.
The demand for medical aesthetic devices in these countries is increasing owing to rapid growth in medical tourism, the growing adult (aged 20 and above) population, increasing disposable incomes, and growing awareness about aesthetic specialties. The presence of a large number of surgeons in these emerging countries is also contributing to the growth of the medical aesthetics device market.
Social and ethical issues associated with cosmetic treatments
Social stigmas associated with cosmetic treatments (surgical and nonsurgical) are mainly due to negative perceptions toward aesthetic procedures as well as the presence of religious and ethical concerns related to some aesthetic treatments, such as alterations, augmentations, erasures, and fillings. Although many people undergo some form of appearance-altering treatment, very few of them like to talk about it. Some people consider undergoing invasive anti-aging treatments, such as BOTOX or cosmetic surgery, as vain, self-centered, or being mentally unwell. Despite the increasing emphasis on looking younger among the elderly population, there are possible negative social consequences related to engaging in cosmetic age concealment. The social stigma attached to aesthetic treatments negatively affects the social acceptance of these procedures, thereby hindering the growth of this market.
Social and ethical issues related to beauty treatments can also inhibit the development of the medical aesthetic device industry.

Region Overview:


Geographically, North America held the largest market share - 26.62% in 2021.

Company Overview:

Cynosure is one of the major players operating in the Medical Aesthetic Device market, holding a share of 10% in 2021.

Cynosure

Cynosure is a leader, innovator, developer, and best-in-class creator of energy-based aesthetic and medical treatment systems. Cynosure develops and manufactures a diverse range of leading treatment applications for hair removal, skin revitalization, scar reduction, gynecological health, body contouring, and more. Cynosure innovative products are used worldwide by practitioners, physicians, and aesthetic business owners to help enhance their offerings while providing the latest treatments to patients.

Lumenis

Lumenis is a global leader in the field of minimally-invasive clinical solutions for the Surgical, Ophthalmology and Aesthetic markets, and is a world-renowned expert in developing and commercializing innovative energy-based technologies, including Laser, Intense Pulsed Light (IPL) and Radio-Frequency (RF).

Segmentation Overview:


By type, Laser-based Aesthetic Device segment accounted for the largest share of market in 2021.

Laser-based Aesthetic Device

Laser-based Aesthetic Devices are used for the treatment of sun damaged skin, wrinkles, and unwanted lesions. These devices improve the physiology of wrinkled & aging skin and are used by numerous individuals, who wish to cultivate or rejuvenate their looks.

Radiofrequency (RF)-based Aesthetic Device

Radiofrequency-based aesthetic devices are used for minimally invasive treatments such as RF microneedling, which is used to rejuvenate the appearance of skin. In addition, advancements in radiofrequency-based aesthetic devices feature combinations of multiple technologies.

Light-based Aesthetic Device

Light-based cosmetic services use laser or intense light sources, such as intense pulsed light (IPL) devices to alter the external physical appearance of a person.

Ultrasound Aesthetic Device

Ultrasound Aesthetic Device is used for aesthetic body contour and fat reduction (ablation of fat tissue)

Application Overview:

By application, the Clinics segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Medical Aesthetic Device market covered in Chapter 3:

Allergan
El. En. Group
Candela
Miracle Laser
Cutera
Sofwave
Lumenis
Merz Aesthetics
Bausch Health Companies
Fotana
Cynosure
Inmode
Peninsula
Sisram Med

In Chapter 4 and Chapter 14.2, on the basis of types, the Medical Aesthetic Device market from 2018 to 2029 is primarily split into:

Laser-based Aesthetic Device
Radiofrequency (RF)-based Aesthetic Device
Light-based Aesthetic Device
Ultrasound Aesthetic Device

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Medical Aesthetic Device market from 2018 to 2029 covers:

Hospitals
Clinics

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)