India Medical Aesthetic Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

India Medical Aesthetic Devices Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Indian medical aesthetics devices market is expected to register a CAGR of 6.95% over the forecast period (2022-2027).

According to the study published in the European Journal of Plastic Surgery, titled 'Evolution of aesthetic surgery in India, current practice scenario, and anticipated post-COVID-19 changes: a survey-based analysis' in August 2020, the corona pandemic has had a significant impact on this increasing growth curve of aesthetic surgery and medical tourism over the last decade in India due to lockdowns, and demand will take time to recover. Furthermore, according to the same source, the post-COVID period necessitates the application of safety protocols, as well as modifications in set-up, limiting patient traffic, participating in distance learning via virtual conferences, and preserving the healthy lifestyle gained during the lockdown. Therefore, the market has been significantly impacted due to the pandemic in India.

In India, the medical aesthetic industry is registering rapid growth, mostly across the metropolitan cities in several states of the country. The major factors driving this industry are the rising adoption of aesthetic procedures, new technologies, and the need for beauty enhancement procedures. The other factors include the influx of competition, business, and investment from domestic companies and the international players seeking a large customer base. For instance, according to the International Society of Aesthetic Plastic Surgery Report 2020, the total number of aesthetic procedures in 2020 was 524,064, including 255,528 surgical and 268,526 non-surgical procedures. A large number of aesthetic procedures in India will demand more aesthetic devices, thereby driving market growth.

Furthermore, in December 2020, Alma, one of the top five global leaders in energy-based medical and aesthetics solutions, launched the PROFHILO, a well-known European skin-remodeling brand, in India, providing a breakthrough in skin anti-aging.

Therefore, the rising adoption of aesthetic procedures, and rising aesthetic services in India, among others, are the factors expected to drive the growth of the medical aesthetic devices market in India.

On the other side, the high cost of aesthetic devices and social stigma, and ethical concerns in India have expected to restrain the market growth.

India Medical Aesthetic Devices Market TrendsBody Contouring and Cellulite Reduction is Expected to Hold a Significant Share During the forecast period.

With the advent of minimally invasive procedures, body contouring and cellulite reduction devices also observed significant technological advancements in recent years. Body contouring is a series of treatments in which laser technology is used to increase collagen production and decrease the appearance of cellulite. It also reduces overall volume and tightens loose skin.

Recently in India, the demand for this procedure has increased with increasing obesity in the country. As per a February 2020 report by Shammi Luhar et al., published in PLoS One Journal, the prevalence of obesity has increased in recent years. It is also expected to increase in the future. As per the same report, the prevalence of obesity in urban areas has increased from 4.9% in 2010 to 9.1% in 2020 and is expected to rise to over 16% by 2040 in India. Body contouring procedures are done after major weight loss procedures or surgeries to tighten the skin. This factor is thus expected to help the market growth.

Furthermore, the rising adoption of body contouring devices by aesthetic clinics in India is further expected to drive the growth of this segment. For the first time in India, Corium Clinic by Dr. Asra Khumushi, a state-of-the-art Aesthetic Clinic in Nagpur, has introduced the "Evolve," a next-generation and only 3-dimensional Body Contouring gadget, in September 2021.

Therefore, owing to the above factors, the body contouring devices segment is expected to drive over the forecast period.

India Medical Aesthetic Devices Market Competitive Analysis

The Indian medical aesthetic devices market is fairly consolidated, with the presence of several global players with established brand identities. The international companies are also penetrating different states of the country at a fast pace, which drives the business for both global and domestic players. Some of the major companies in the Indian medical aesthetic devices market include Allergan Inc., Alma Lasers (Sisram Medical Ltd), Cutera, Bausch Health Companies Inc. (Solta Medical Inc.), and Lumenis, among others.

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