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

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

Medical aesthetics device refers to medical equipment that repairs and remodels the appearance of a person and the shape of various parts of the human body. Medical aesthetics device is used to treat imperfections related to the aesthetic appearance of a person, such as acting on the skin, achieving skin tightening (reduction of pores, full facelift), improvement of skin texture (dullness, roughness), treatment of acne, acne marks, acne Pit, remove stains, birthmarks, red blood, hair removal, etc.

Market Overview:

The latest research study on the global Medical Aesthetics Device market finds that the global Medical Aesthetics Device market reached a value of USD 4225.72 million in 2022. It’s expected that the market will achieve USD 7273.39 million by 2028, exhibiting a CAGR of 9.47% during the forecast period.

Impacts of Global Inflation on Medical Aesthetics Device Industry

The capital heat wave that started in 2020 began to ebb and cool down this year. Major adjustments in capital markets at home and abroad, restructuring of supply chains brought about by the epidemic, the Russo-Ukraine war, and global inflation, and many macro factors are intertwined to form the industrial dynamics and corporate development under this extraordinarily turbulent background.

Like other manufacturing industries, the medical aesthetics device industry has been hit by inflation. The U.S. Bureau of Labor Statistics reported that the producer price index for medical equipment and supplies manufacturing in 2022 will be significantly higher than in previous years. The average increase will be about 1.2% in 2021 and will more than double to 3.4% in 2022. The latest price index for November 2022 recorded a record high of 4.2% compared to the same period last year. Rising costs for materials such as metals, plastics, and chemicals drive up production costs. In the past two years, the price of medical aesthetics device raw materials has skyrocketed. Many medical aesthetics device companies are dealing with shortages of semiconductors and other critical components. The medical industry has been facing significant increases in shipping costs and longer and more unpredictable delivery times. The growth over the past two years is due to the impact of the COVID-19 pandemic and the war between Russia and Ukraine. This trend is expected to continue in 2023, as the medical aesthetics device industry does not yet have a very clear path to address these issues.

Medical aesthetics device companies have yet to pass on the additional costs to hospitals. Many medical aesthetics device companies have suffered significant revenue losses during the pandemic, as they were reluctant to raise prices and risk ceding shares to competitors. Some companies may not be able to pass on prices to customers due to previous contracts. Additionally, medical aesthetics device companies are aware of potential supply shortages and inflation risks, so they are proactively re-evaluating suppliers and pre-ordering their most critical supplies. In recent months, bulk purchase deals have driven down average selling prices. Brands that keep prices unchanged will suffer further profit erosion as costs remain high.

It is expected that the continuous updating and transformation of the product advantages of medical aesthetics device companies will create opportunities for corporate bonuses and profits, and release inflationary pressure. During a recession, some companies may want to cut R&D budgets; however, this delays the development cycle of devices and further affects future profitability.

Drivers and Opportunities

Medical aesthetic items are expensive. Items that require the use of medical aesthetics devices: Thermage, fractional laser, etc. are all expensive, and the lack of spending power of residents will limit their willingness to spend. In addition, medical aesthetic items such as Thermage and Picosecond have the characteristics of repetition and high frequency, and continuous consumption is required to maintain good results. For example, picosecond requires regular treatment to achieve an ideal freckle removal effect, while Thermage needs to be treated once a year or at most two years to maintain the continuous anti-aging effect. The post-care of medical aesthetics projects also requires a lot of investment. For example, after dot matrix shimmering, you need to buy a lot of medical aesthetics masks and growth factors to promote skin recovery. At the same time, you need to use mild skin care products with strong repairing functions to maintain beauty. skin effect. Therefore, the development of the medical aesthetics device industry needs to be escorted by the stable income growth of consumers.

Due to occupational needs or emphasis on beauty, consumers have increased demand for medical aesthetics services. As the basis of medical aesthetics devices, the market continues to expand. Specifically:

Many occupations have higher requirements on appearance, such as Internet celebrities and celebrities.

Internet celebrity culture is developing rapidly, and the public is paying more attention to appearance.

Internet celebrities have higher and subtler requirements for a beautiful appearance. Medical aesthetics devices are favored by Internet celebrities because they can achieve freckle removal, wrinkle removal, and skin-firming effects. Film and television stars use medical aesthetic devices to enhance their appearance, thereby gaining more resources and attention. For ordinary people, many occupations also need a good image, such as sales, public relations, and so on. A good external image can bring convenience to work and increase the priority of selection.

Medical aesthetics device does not require surgery and is highly safe, dispelling the worries of many consumers who want to look beautiful but are afraid of surgery. In addition, medical aesthetics devices are non-invasive or minimally invasive, and the recovery time is short, which will not affect the normal work and life of consumers, prompting more people to choose to use medical aesthetics devices, and its demand is expected to further increase.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Cynosure is one of the major players operating in the Medical Aesthetics Device market, holding a share of 12.52% in 2022.

Cynosure is leaders, innovators, developers, and best-in-class creators 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 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:

Among different product types, Laser Skin Resurfacing Devices segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Clinics segment occupied the biggest share from 2018 to 2022.

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

Inmode
Syneron Medical
Allergan
Solta Medical
Lumenis
Alma Lasers
Cutera
PhotoMedex
Cynosure
El. En. Group
Merz Aesthetic

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

Laser Skin Resurfacing Devices
Body Contouring Devices
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Medical Aesthetics 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)