Aesthetic Medical Device Market is estimated to be valued at US$ 13.73 billion in 2024, and increasing at a CAGR of 3.20% to reach USD 18.82 billion by 2034.
NEWARK, Del, July 31, 2024 (GLOBE NEWSWIRE) — The market size for Aesthetic Medical Devices is estimated to be around USD 13.73 billion in 2024. It is projected to exhibit a CAGR growth of 3.20% over the forecast period, with an estimated market size of USD 18.82 billion by 2034.
Social media, western beauty standards, and the rise of preventive care culture have created a desire for aesthetic appearances and beauty ideals. This has led to an increase in demand for cosmetic procedures and thus aesthetic medical devices. The expansion of the global beauty and wellness industry is another factor contributing to the growth of the aesthetic medical device market.
The growth of the aesthetic medical device market is also driven by the expansion of disposable income levels globally, particularly in emerging economies. This has enabled more individuals to afford aesthetic treatments. Advancements in technology have also played a crucial role in driving the growth of the market. Aesthetic clinics, medical spas, and beauty centers are experiencing rapid growth worldwide, further augmenting the market growth for these devices.
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Dermatologists, plastic surgeons, cosmetic surgeons, aestheticians, and other healthcare practitioners are increasingly adopting aesthetic medical devices to offer aesthetic treatments. Rising consumer awareness and acceptance of aesthetic enhancements, coupled with the widespread availability of information through the Internet and social media platforms, are also boosting the demand for aesthetic medical devices.
“Companies in the aesthetic medical device market are expected to broaden their product portfolio to encompass a diverse range of treatment modalities, such as body contouring, skin tightening, hair removal, facial rejuvenation, etc. This will enable companies to cater to a wider patient demographic and provide healthcare professionals with versatile tools to address a multitude of cosmetic concerns effectively,” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Cosmetic Surgery Demand Will Increase Due to Technological Advancement
The worldwide aesthetic medical devices market is projected to be driven by greater use of less invasive treatments, higher awareness of cosmetic operations, and the world’s rising obesity rate. Furthermore, technological advancements in the medical profession are expected to fuel demand for medical aesthetic operations in the coming years.
People now have easy access to information thanks to the rise in popularity of social media and the internet. People are becoming more aware of the availability of cosmetic procedures as information becomes more readily available. With an increase in the number of social media users and more awareness, the worldwide aesthetic medical devices market is expected to develop in the next few years.
Key Takeaways from the Aesthetic Medical Device Market Study
- The non-energy based devices segment dominates the global aesthetic medical device market with a share of 89.99%.
- On the basis of the application, the body contouring and cellulite reduction segment lead the aesthetic medical device market with a share of 11.94% in 2024.
- The aesthetic medical device market in the United Kingdom is anticipated to grow at a CAGR of 2.00% through 2034.
- The aesthetic medical device market in India is estimated to rise at a 4.50% CAGR through 2034.
- The aesthetic medical device market in China has the potential to increase at 6.20% CAGR through 2034.
Competitive Landscape from the Aesthetic Medical Device Market
The global market for aesthetic medical devices is dominated by companies with a strong foothold in the industry, such as Alma Lasers, Merz Pharma, Bausch Health Companies Inc., Lumenis Be Ltd., Venus Concept, etc.
These companies are investing heavily to make their offerings more affordable, particularly in emerging economies, to expand their customer base. In addition to cost-cutting measures, these companies are partnering with social media influencers with millions of followers to market their products effectively.
With the increasing demand for non-invasive cosmetic procedures and the growing popularity of social media, the global market for aesthetic medical devices is expected to continue its growth trajectory in the coming years.
Recent Developments in the Aesthetic Medical Device Market
- Sofwave Medical’s skin laxity improvement device obtained FDA clearance in Dec 2023, offering non-invasive treatments lasting 30-45 minutes.
- ExoCoBio completed the acquisition of BENEV in July 2023, enhancing the commercialization of exosome technology worldwide.
- Establishment Labs received CE mark approval for its minimally invasive surgical tools, including the Motiva inflatable balloon, channel dissector, and injector, in May 2023.
- JIYA Facial Cosmetic Surgery introduced Acclaro Medical’s UltraClear® Anti-Aging Treatment, which offers noticeable results in just one session, in Aug 2023.
- LPG Group secured an exclusive supply agreement with Korean wellness company LPHYSIO in March 2023, bolstering its presence in Korea’s professional beauty and wellness market.
Key Companies in the Aesthetic Medical Device Market
- Allergan plc
- Alma Lasers
- Bausch Health Companies Inc.
- Cynosure, LLC
- Cutera, Inc.
- Galderma S.A.
- Lumenis Ltd.
- Merz Pharma GmbH & Co. KGaA
- Sientra, Inc.
- Solta Medical, Inc. (a subsidiary of Bausch Health)
- Syneron Medical Ltd.
- LPG Systems
- Venus Concept Ltd.
- Sciton, Inc.
- ZELTIQ Aesthetics, Inc. (a subsidiary of Allergan plc)
- Fotona d.o.o.
- Hologic, Inc.
- InMode Ltd.
- Syneron Candela
- Zimmer MedizinSysteme GmbH
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Aesthetic Medical Device Market by Segmentation
By Product:
- Energy-Based Aesthetic Device
- Laser-Assisted Liposuction (LAL) Devices
- Laser Resurfacing Devices
- Radio Frequency-Assisted Liposuction (RFAL) Devices
- Power Assisted Liposuction (PAL) Devices
- Ultrasound-Assisted Liposuction (UAL) Devices
- Intense Pulsed Light (IPL) Equipment
- Cellulite Reduction Devices
- Non-Energy Based Aesthetic Device
- Facial Aesthetics Products
- Dermal Fillers
- Botulinum Toxin Injections
- Microderma abrasions/Chemical Peels
- PRP (Platelet-Rich-Plasma)
- Microneedling
- Implants
- Breast Implants
- Buttock Implants
- Facial Implants
- Others Implants
- Facial Aesthetics Products
By Application:
- Skin Resurfacing and Tightening
- Anti-Aging
- Wrinkle Reduction
- Face Lift
- Lip Augmentation
- Acne & Scar Treatment
- Hair Removal
- Body Contouring and Cellulite Reduction
- Tattoo Removal
- Breast Augmentation
- Abdominoplasty
- Lower Body Lift
- Upper Body Lift
- Liposuction
- Dermabrasion
- Dentistry
- Others
By Body Parts:
- Face
- Eyes
- Nose
- Lip
- Ears
- Body and Extremities
- Arms and Elbow
- Buttocks
- Feet
- Thigh
- Breast
- Neck
- Scalp
By End User:
- Hospitals
- Ambulatory Surgical Clinics
- Free Standing Aesthetic Centers
- Dermatology and Cosmetology Clinics
- Dental Clinics
- Medical Spas and Wellness Centers
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
- Europe
Author by
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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