Non-Surgical Aesthetic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Non-Surgical Aesthetic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The non-surgical aesthetic devices market studied was projected to grow with a CAGR of nearly 6.9% during the forecast period.

The outbreak of COVID-19 showed an impact on the aesthetic devices market because cosmetic services were significantly reduced due to social distancing measures taken by various governments. Moreover, the COVID-19 pandemic affected the global economy and significantly impacted the functioning of general hospital care for non-COVID-19 patients in hospitals across the world. As per the article titled “Impact of COVID-19 on Aesthetic Plastic Surgery Practice in the United Kingdom” published in September 2021, the COVID-19 pandemic had transformed the delivery of medical and surgical services globally. The article indicated that all elective and aesthetic procedures had been canceled or deferred by government-mandated quarantine measures. Moreover, the COVID-19 pandemic affected the global economy and showed a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals globally. Thus, the outbreak of the COVID-19 pandemic is expected to have a significant impact on the growth of the market during the pandemic period.

The major factor attributing to the growth of the non-surgical aesthetic devices market is the rising demand for procedures improving aesthetic appearance. As the major part of the population is aging, many are interested in treating saggy skin and wrinkles. According to World Health Organization (WHO) data published in October 2021 By 2030, 1 in 6 people in the world will be aged 60 years or over. The share of the population aged 60 years and increase by over 1 billion in 2020. By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. The rising aging population in the world is likely to add to the growth of the non-surgical Aesthetic devices market over the forecast period.

Moreover, the International Society of Plastic Surgery (ISAPS) performed an international survey on cosmetic procedures in 2020. According to the data, approximately 85% of nonsurgical procedures were performed on women among which 12.8% were hair removal procedures and accounted for 1,538,982 procedures. Therefore, the adoption of such non-invasive aesthetic procedures is poised to accelerate the hair removal devices market globally and is expected to increase in the future, thereby driving the growth of the studied market over the forecast period.

Also, the increasing product launches is also expected to drive the growth of the studied market during the forecast period. For instance, in March 2022, Lumenis launched the Splendor X device to the United Kingdom market. This device is CE cleared for hair removal, vascular treatments, pigmented lesions and the treatment, of wrinkles.

Furthermore, the increasing demand for painless skin tightening treatments and the rising preference for easy-to-use devices for non-surgical skin treatment by dermatologists, are other major factors for the market growth. However, the high cost of the devices and the need to repeat the procedures to maintain the appearance are the major restraints to the growth of the market.

Key Market TrendsHair Removal Segment is Expected to Hold the Significant Market Share Over the Forecast period.

The unwanted hair removal from all body parts by using an aesthetic device is expected to hold a major share of the market. Precision, speed, and predictability in the hair removal process are some of the advantages of the non-surgical aesthetic devices for which it has gained popularity in recent years. Moreover, the article published in August 2021 titled “Laser Hair Removal” in the National Library of Medicine said that a variety of laser devices are available and are known as the most effective options for long-term hair reduction. Hence, owing to the advantages offered by laser hair removal devices, the adoption of these products is likely to increase among the target population, ultimately driving market growth.

In addition, the Plastic Surgery Statistics Report published by the American Society of Plastic surgeons in 2020 stated that among all the cosmetic minimally invasive procedures performed in the United States, hair removal was the third most performed procedure accounting for 757,808 procedures in 2020. Thus, the increasing adoption of hair removal procedures creates demand for technically advanced hair removal devices and is creating opportunities for the growth of the segment over the future.

Furthermore, continuous product launches by major players in the market are positively affecting the growth of the segment. For instance, in January 2020, Lumenis Ltd. launched its newest platform, the LightSheer Quattro at the 22nd International Master Course on Aging Science (IMCAS) conference in Paris, France. This LightSheer Quattro offers clinically proven laser hair removal treatments for all skin types with either 805nm or 1060nm wavelengths with no downtime and treatment of pigmented and vascular lesions.

Thus the above-mentioned factors are expected to drive the growth of the studied segment during the forecast period.

North America Dominates the Market and Expected to do Same Over the Forecast Period

North America is expected to lead the overall non-surgical aesthetic devices market, throughout the forecast period. North America holds the leading status in the market, due to the rising awareness of people in the region about one’s aesthetic appearance.

The well-established insurance policies and the availability of advanced healthcare infrastructure are the major factors that drive the growth of the market. As the demand for aesthetic procedures increases the market for the devices increases too. In recent years, skin tightening has created a new niche in the United States' non-surgical aesthetic devices market. They have been proven financially profitable and are expected to dominate during the forecast period.

Key product launches, the high concentration of market players, and the manufacturer's presence in the United States are some of the factors driving the growth of the hair removal devices market in the country. For instance, in May 2020 Lira Style, a Chicago-based medical device company launched its newest platform, the Cervello, which offers clinically proven laser hair removal treatments for all skin types with a combination of 755 Alexandrite, 808 Diode, and 1064 long-pulsed YAG. Additionally, in January 2022, Homiley, a United States-based company launched their at-home IPL hair removal to save women from razor bumps or ingrown hair. These continuous product launches in the region are anticipated to drive the growth of the market in the country.

Thus the above-mentioned factors are expected to drive the growth of the market in this region during the forecast period.

Competitive Landscape

The non-surgical aesthetic devices market is moderately competitive and consists of several major players. Major players are involved in developing sophisticated technologies for skin tightening and are aiming on collaborations, in order to maintain dominant position in the market Some of the companies which are currently dominating the market include Fotona d.d., Bausch & Lomb Incorporated, Alma Lasers, Lynton Lasers, Cutera, Strata Skin Sciences, Sciton, Inc., Lutronic, EL.En. S.p.A., and Lumenis.

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