Market Size of India Medical Aesthetic Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.62 Billion |
| Market Size (2029) | USD 3.02 Billion |
| CAGR (2024 - 2029) | 13.28 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Aesthetic Devices Market Analysis
The India Medical Aesthetic Devices Market size is estimated at USD 1.62 billion in 2024, and is expected to reach USD 3.02 billion by 2029, growing at a CAGR of 13.28% during the forecast period (2024-2029).
According to the study published in the European Journal of Plastic Surgery, titled 'Evolution of aesthetic surgery in India, current practice scenario, and anticipated post-COVID-19 changes: a survey-based analysis' in August 2020, the corona pandemic has had a significant impact on this increasing growth curve of aesthetic surgery and medical tourism over the last decade in India due to lockdowns, and demand will take time to recover. Furthermore, according to the same source, the post-COVID period necessitates the application of safety protocols, as well as modifications in set-up, limiting patient traffic, participating in distance learning via virtual conferences, and preserving the healthy lifestyle gained during the lockdown. Therefore, the market has been significantly impacted due to the pandemic in India.
In India, the medical aesthetic industry is registering rapid growth, mostly across the metropolitan cities in several states of the country. The major factors driving this industry are the rising adoption of aesthetic procedures, new technologies, and the need for beauty enhancement procedures. The other factors include the influx of competition, business, and investment from domestic companies and the international players seeking a large customer base. For instance, according to the International Society of Aesthetic Plastic Surgery Report 2020, the total number of aesthetic procedures in 2020 was 524,064, including 255,528 surgical and 268,526 non-surgical procedures. A large number of aesthetic procedures in India will demand more aesthetic devices, thereby driving market growth.
Furthermore, in December 2020, Alma, one of the top five global leaders in energy-based medical and aesthetics solutions, launched the PROFHILO, a well-known European skin-remodeling brand, in India, providing a breakthrough in skin anti-aging.
Therefore, the rising adoption of aesthetic procedures, and rising aesthetic services in India, among others, are the factors expected to drive the growth of the medical aesthetic devices market in India.
On the other side, the high cost of aesthetic devices and social stigma, and ethical concerns in India have expected to restrain the market growth.
