Medical Aesthetic Devices Market Overview
The Medical Aesthetic Devices market was valued at USD 7,353.6 million in 2017, is expected to register a CAGR of about 9.8% during the forecast period, 2018-2023. Medical aesthetic devices refers to all medical devices that are used for various cosmetic procedures, which include plastic surgery, unwanted hair removal, excess fat removal, anti-aging, aesthetic implants, skin tightening, etc. that are used for beautification, correction and improvement of the body. Technological advancement in devices, increasing awareness regarding aesthetic procedures and rising adoption of minimally invasive devices, and increasing obese population are the major factors leading to the growth of the market. However, social stigma concerns, and poor reimbursement scenario are hindering the market growth.
Increasing Awareness about Aesthetic Procedures Fuels the Growth of Medical Aesthetic Devices Market
With the advent of the internet and growing trend of social media, information is becoming more accessible to everyone, and people are becoming more aware of aesthetic procedures. Growing number of social media users and raising awareness among the masses about the medical aesthetic procedures is likely to pose a positive impact on the sales of medical aesthetic devices, resulting in a huge growth in the market size. For instance, in 2005, 5.4 million medical aesthetic procedures were performed worldwide. This number had increased to 12 million by 2014 and is expected to reach 21.9 million by 2020. Along with the increased awareness in the potential benefits of aesthetic procedures, people are inclined towards the use of minimal or non-invasive procedures in aesthetic treatments. It is estimated that out of the 23 million cosmetic/aesthetic procedures that have taken place globally, majority of them turned out to be minimally invasive.
Additionally, technological advancement, growing geriatric population, and the rising disposable income are likely to drive the market for aesthetic devices globally.
Social Stigma Concerns Restrain the Growth of Medical Aesthetic Devices Market
Social stigma acts as a barrier to the aesthetic treatment services. There are increasing concerns with aesthetic interventions. The practice of aesthetic medicine has been marginally regulated, in highly developed countries as well. The main concern appears to be the practice of minimally invasive aesthetic surgery by general practitioners. In addition, certain factors like patient's right for informed counseling and beneficence are given careful consideration. In recent years, violation of ethical principles in plastic surgery has become increasingly noticeable, which is hindering the market potential of aesthetic intervention. For the aesthetic correction of certain diseases or conditions such as aging, where it is difficult to say if it is a disease or physiological course of events, the concept of aesthetic medicine is disregarded. The advertising limitations for medical professionals and the maintenance of the boundaries are confined to the field of aesthetic medicine. Aesthetic surgery is now an ethical dilemma, which challenges its market growth
Market Segmentation Insights for the Medical Aesthetic Devices Market
The global medical aesthetic devices market is segmented by product and by end users.
The product type segmentation comprises of aesthetic lasers and energy devices, non-surgical skin tightening devices, aesthetic ophthalmology devices, laser hair removal devices, aesthetic implants, facial aesthetics devices. Aesthetic implants include breast implants, and other implants. Whereas facial aesthetics devices further include dermal fillers, and microdermabrasion. The aesthetic lasers and energy devices segment held the largest market share in 2017. The laser resurfacing is the treatment helps to reduce facial wrinkles, blemishes, acne scars, and skin irregularities. This treatments can be performed on the face, neck, chest, arms and hands. There are two types of laser surfacing devices: Ablative Skin Resurfacing Devices and Non-Ablative Skin Resurfacing Devices. According to the estimates of American Society of Plastic Surgeons in 2017, the average cost of laser skin resurfacing is USD 2,124 for ablative and USD 1,114 for non-ablative.
The end user segmentation includes hospitals, clinics and beauty centers, home settings. Hospitals accounted for the largest market value in 2017. A large number of aesthetics procedures are performed in hospitals particularly for breast procedures, blepharoplasty, lipoplasty, rhinoplasty and others minimally invasive procedures. The global rise in obesity and overweight as well as large section of high income population in developed market opting for better overall looks, there is rising demand or aesthetics industry in hospitals.
North America to Dominate the Medical Aesthetic Devices Market
North America is the biggest market for global aesthetic devices owing to the growing investment from key players in the development of innovative devices, and rising demand for aesthetic procedures in the region. Asia-Pacific is the fastest growing region. Factors, such as huge population base and rising disposable income, are anticipated to drive the market for aesthetic devices in the region.
Key Developments in the Market
- January 2018: Cutera, Inc. a leading provider of laser and energy-based aesthetic systems, launched Juliet and Secret RF to its product offerings of laser and energy-based devices.
- February 2018: The Baldan Group launched the Fibra DFA hair removal device. The company claims that the device has decreased energy wastage, from 30% in other machines to nearly 0%, which improves operational safety.
The major players include Allergan, Inc., Alma Lasers, Galderma S.A. (Nestle), Johnson & Johnson, Lumenis, Inc., Sciton, Inc., Solta Medical, Inc. (Valeant), Sanuwave Health Inc, Syneron Candela, amongst others.
Medical Aesthetic Devices Market Segmentation
Medical Aesthetic Devices Market by Product
- Aesthetic Lasers and Energy Devices
- Non-Surgical Skin Tightening Devices
- Aesthetic Ophthalmology Devices
- Laser Hair Removal Devices
- Aesthetic Implants
- Facial Aesthetics Devices
Medical Aesthetic Devices Market by End Users
- Clinics and Beauty Centers
- Home Settings
Medical Aesthetic Devices Market by Region
- North America
- Asia Pacific
- South Korea
- Middle East and Africa
- South Africa
- South America
Country Level Data Points Coverage and Deliverables for Medical Aesthetic Devices Market
Medical Aesthetic Devices Market Report Summary
Medical Aesthetic Devices Market
(2015 – 2023)
By product (aesthetic lasers and energy devices, non-surgical skin tightening devices, aesthetic ophthalmology devices, laser hair removal devices, aesthetic implants, facial aesthetics devices)
By end user (hospitals, clinics and beauty centers, home settings)
North America (US, Canada, Mexico), Europe (UK, Germany, France, Italy Spain, Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa and Rest of MEA) and South America (Brazil, Argentina and Rest of South America)
Jan 2018: Cutera, Inc. a leading provider of laser and energy-based aesthetic systems, launched Juliet and Secret RF to its product offerings of laser and energy-based devices.
Feb 2018: The Baldan Group launched the Fibra DFA hair removal device.
Allergan, Inc., Alma Lasers, Galderma S.A. (Nestle), Johnson & Johnson, Lumenis, Inc., Sciton, Inc., Solta Medical, Inc. (Valeant), Sanuwave Health Inc, Syneron Candela, among others
Medical Aesthetic Devices Market offers latest trends, growth prospects, industry competitiveness, major players, regional share of market and forecast to 2023.
Reasons to Purchase the Report
- To have an understanding of the current and future global medical aesthetic devices market outlook in the developed and emerging markets.
- Analysis of various perspectives of the market with the help of Porter’s Five Forces Analysis.
- Identify the segment that is expected to dominate the market.
- Identify the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support, along with the Market Estimate sheet (in Excel).
Customization of the Report
- This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Technological Advancement in Devices
6.1.2 Increasing Awareness Regarding Aesthetic Procedures and Rising Adoption of Minimally Invasive Devices
6.1.4 Increasing Obese Population
6.2 Market Restraints
6.2.1 Social Stigma Concerns
6.2.2 Poor Reimbursement Scenario
6.4 Key Challenges
7. Market Segmentation
7.1 By Product
7.1.1 Aesthetic Lasers and Energy Devices
7.1.2 Non-Surgical Skin Tightening Devices
7.1.3 Aesthetic Ophthalmology Devices
7.1.4 Laser Hair Removal Devices
7.1.5 Aesthetic Implants
22.214.171.124 Breast Implants
126.96.36.199 Other Implants
7.1.6 Facial Aesthetics Devices
188.8.131.52 Dermal Fillers
7.2 By End Users
7.2.2 Clinics and Beauty Centers
7.2.3 Home Settings
7.3 By Geography
7.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest Of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
7.3.4 Middle East & Africa
188.8.131.52 South Africa
184.108.40.206 Rest of the Middle East & Africa
7.3.5 South America
220.127.116.11 Rest of South America
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.1 Allergan, Inc
9.2 Alma Lasers
9.3 Galderma S.A. (Nestle)
9.4 Johnson & Johnson
9.5 Lumenis, Inc.
9.6 Sciton, Inc.
9.7 Solta Medical, Inc. (Valeant)
9.8 Sanuwave Health Inc
9.9 Syneron Candela
9.10 Cynosure, Inc. (Hologic Inc)
** List Not Exhaustive
10. Future Market Outlook