HYDERABAD, TELANGAANA, INDIA, December 7, 2022 /
EINPresswire.com/ -- Per our research report published by MarketDataForecast, the
global medical aesthetic devices market is expected to grow from USD 780 million in 2022 to USD 1.32 billion by 2027, registering a CAGR of 10.94% from 2022 to 2027.
The enhancement of cosmetic appearance through various treatments is medical aesthetic devices. Wrinkles, scars, unwanted hair, excess fat, skin discoloration, moles, and liver spots are some of the conditions treated by medical aesthetic devices, involving plastic surgery, chemical peel, radiofrequency ablation, dermatology, maxillofacial surgery, breast implants, oral surgery, liposuction, and reconstructive surgery. Additionally, since medical aesthetics help improve quality of life, many people are increasingly adopting these devices, enhancing their social engagement and psychological well-being.
The surge in the aging population and the need for cost-effective medical aesthetics treatment to drive the global market.
The rising demand for cosmetic surgeries in developed and developing countries due to the growing aging population and the availability of technologically advanced products for aesthetic treatments creates growth opportunities for worldwide market stakeholders.
Also, the rise in the population between 30 and 65 leads to increased demand for various medical aesthetic treatments and surgeries, along with increasing investments to escalate research, increasing disposable income of people, and new development activities to offer advanced treatment devices, leading to an influx of advanced medical aesthetic techniques and practices. This is expected to drive market growth.
The worldwide public health crisis COVID-19 has negatively impacted the Medical Aesthetics Devices market. This is because the pandemic has forced the cosmetic and aesthetic device manufacturing and procurement units to close, leading to delayed schedules for supplying goods to end customers, further creating other problems in the beauty and luxury industry face production.
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The deteriorating costs of products to support the anti-wrinkle products segment.
The products segment is further divided into, Implants, Energy-Based Devices and Anti-Wrinkle Products. The Energy-Based Devices are further sub-segmented into Aesthetic Laser Devices, Body Contouring Devices, Microdermabrasion, and Ultrasound; the Anti-Wrinkle Products are also sub-segmented into Botulinum toxin, Dermal Fillers, and Chemical Peels. The anti-wrinkle products segment is estimated to show considerable growth during the forecast period due to immediate and continual results and complete accessibility of these products.
The rising demand for MIS to support the growth of the Procedure segment
The Procedure segment is divided into Reconstruction Procedures and Cosmetic Procedures, which is further divided into Minimally Invasive and Surgical Procedures. The minimally invasive and non-surgical procedures are anticipated to lead the market over the forecast period due to the growing trend of the population to prefer using anti-aging procedures, reshaping faces with natural techniques, and reducing fat.
The rise in clinics and medical spas supports the end-user segment.
The end-user segment is divided into Home use and Clinics and Beauty Centers, which is anticipated to be dominated by Clinics and Beauty Centers due to increasing investments in providing better infrastructure and resources in hospitals and clinics, the availability of trained staff to operate aesthetic procedures, and the availability of other skilled professionals. Also, the increased adoption rate of technologically advanced devices is further driving the market.
Regional Outlook of the Medical Aesthetic Devices Market
The
North American medical aesthetic devices market is anticipated to contribute substantially to the global market. This region is expected to be worth USD 430 million by 2027 owing to factors such as adopting novel and advanced technologies in most of the countries, increasing treatment procedures, increasing interest in personal care in countries like the U.S. and Canada, and established healthcare infrastructures with the help of key market players in the region.
The
Asia Pacific medical aesthetic devices market captured a significant share of the global market in 2021 and is expected to dominate the market over the forecast period owing to increasing disposable income, lower costs for procedures, and the growing geriatric pool of the region requiring personal care services. Additionally, many surgical procedures are performed on people living in developing countries such as China, Japan, and South Korea, which is expected to see a hike in medical tourism systems, supporting the market's growth.
The European region is expected to grow at a CAGR of 12.95% from 2022 to 2027, holding a moderate share of the global market.
The Latin American, Middle East, and African medical aesthetic devices market are anticipated to grow at a CAGR of 11.17% and 10.46%, respectively, during the forecast period.
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Analysis of key players in the global medical aesthetic devices market:
Companies such as Allergan, Cynosure, Johnson & Johnson, LCA Pharmaceutical, Galderma Pharma, Solta Medical, Cutera, Focus Medical, Human Med Ag, Genzyme Corporation, Alcon Inc., and Alma Lasers are playing a leading role in the medical aesthetic devices market.
Several market players are working diligently toward growth in the industry; for instance, Venus Concept Inc. released its financial results for the three- and nine months in Nov 2022, with an increase in their cash system sales to 30%. Additionally, around the same time, Sisram Medical Ltd. announced its successful event at Alma Academy in Dubai, United Arab Emirates, which enabled the company to influence public opinion in favor of Sisram's mission.
Further, in Oct 2022, Aesthetics Biomedical got FDA approval for the Vivace Ultra device for electrocoagulation and hemostasis in dermatology.
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