Medical Aesthetic Devices Market Size

Medical Aesthetics Market Analysis

The Medical Aesthetic Devices Market size is estimated at USD 27.09 billion in 2024, and is expected to reach USD 44.27 billion by 2029, growing at a CAGR of 10.32% during the forecast period (2024-2029).

The COVID-19 pandemic significantly impacted the growth of the medical aesthetic devices market in early 2020 due to the lockdown imposed and many aesthetic procedures being canceled. An article published in the Journal of Clinics in Dermatology in June 2021 indicated that various procedures, such as deep peeling and laser treatments, were avoided during the COVID-19 pandemic because of the disruptions in the skin barrier. Also, the procedures, such as high-intensity focused ultrasound, fractional radiofrequency, and cryolipolysis equipped with stainless steel, gold, or plastic handpieces and probes, were postponed due to the risk of contamination.

However, aesthetic devices that consumers could use in their homes increased after the COVID-19 pandemic. According to an article published in the International Journal of Trichology in February 2022, home-based aesthetic devices have increased in recent years. They became more relevant during the COVID-19 pandemic, as more patients were hesitant to visit clinics for non-emergency reasons.

Major factors such as the increasing obese population, awareness regarding the aesthetic procedure, rising adoption of minimally invasive devices, and technological advancement in aesthetic devices are propelling the growth of the market.

The increasing volume of aesthetic procedures worldwide is also contributing to the market's growth. For instance, according to the ISAPS survey released in December 2021, 10,129,528 surgical procedures and 14,400,347 nonsurgical cosmetic procedures were performed around the globe in 2020. Furthermore, according to the BAAPS survey released in February 2021, 15,405 cosmetic surgical procedures were performed in the United Kingdom in 2021. The increasing number of aesthetic procedures requires medical aesthetic devices. This is creating the need for medical aesthetic devices and driving the market's growth.

Also, the growing adoption of minimally invasive and non-invasive aesthetic procedures drives the market studied. As per an article published in the Journal Archives of Plastic Surgery in November 2021, the demand for aesthetic procedures was on the rise all over the world, especially in East Asian countries. With the advent of the internet, information became accessible to everyone, and people started becoming more aware of aesthetic procedures. All these factors together increased the public's awareness of medical aesthetic procedures, which, in turn, increased the sales of medical aesthetic devices. This is resulting in a huge growth in the market size of medical aesthetic devices.

Additionally, the approval of products by various regulatory authorities is also boosting the market's growth. For instance, in January 2022, Lumenis launched the Splendor X device, CE cleared for hair removal, vascular treatments, pigmented lesions, and wrinkles in the United Kingdom.

Thus, owing to the abovementioned factors, the market studied is expected to grow during the forecast period. However, social stigma and poor reimbursement scenarios may hinder the market's growth.