Market Size of Europe Medical Aesthetic Devices Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 11.07 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Medical Aesthetic Devices Market Analysis
Europe's medical aesthetic devices market is expected to witness a CAGR of 11.07% over the forecast period.
- The COVID-19 pandemic significantly impacted the medical aesthetic devices market in Europe. While the percentage of admissions that returned to pre-pandemic levels increased to 33.8%, some areas, such as the Czech Republic, Romania, and Spain, encountered significant admissions restrictions, which slowed market growth. However, with the release of restrictions and the resumption of services, the number of aesthetic procedures in hospitals and clinics has increased, fueling demand for aesthetic devices and propelling the market growth.
- Several factors are expected to boost market growth, including the rising prevalence of obesity, growing awareness of aesthetic procedures, and increasing adoption of minimally invasive techniques. The burden of the obese population was a key driver of market growth, as 25.9% of adults in England were obese in 2021, according to the Health Survey for England. Men (68.6%) were more likely to be overweight or obese than women (59%). The rising burden of obesity in the region is anticipated to increase demand for aesthetic surgeries and devices, thus boosting market growth.
- The demand for cosmetic surgeries is also increasing, with liposuction and eyelid surgeries being popular procedures in Germany, Italy, and Spain, according to the International Society of Aesthetic Plastic Surgery. This growing trend of people's concern for appearance is expected to fuel the demand for aesthetic devices and bolster market growth. Moreover, the increasing numer of new product launches and approvals, such as Galderma's Alluzience in June 2021, is anticipated to drive market growth over the forecast period.
- However, the high cost of aesthetic procedures and poor reimbursement scenarios are likely to impede market growth. Nevertheless, the market is expected to project growth over the forecast period, owing to factors such as the high burden of obesity and the growing number of aesthetic procedures.