Non-Surgical Aesthetic Devices Market Size

Non-Surgical Aesthetic Devices Market Analysis

The non-surgical aesthetic devices market studied is expected to register a CAGR of nearly 7.1% during the forecast period.

• COVID-19 had a profound impact on the non-surgical aesthetic devices market owing to the cancellations of cosmetic procedures in the initial phase of the pandemic. For instance, an article published in the Journal of Plastic, Reconstructive, and Aesthetic Surgery (JPRAS) in September 2021 stated that all elective and aesthetic procedures were canceled or deferred by government-mandated quarantine measures.
• However, the market recovered in the later phase of the pandemic and reported a high number of non-surgical aesthetic procedures, despite restrictions. For instance, according to the Aesthetic Society, Aesthetic Plastic Surgery National Databank 2021 report, non-surgical aesthetic procedures increased by 44% in 2021 in the United States. Currently, the market is significantly growing owing to the high demand for non-surgical aesthetic procedures and advancements in devices worldwide. The market is expected to register stable growth during the forecast period.
• The increasing demand for non-surgical aesthetic procedures and technological advancements in non-surgical aesthetic devices are expected to be primary growth factors of the studied market. For instance, according to the Aesthetic Neural Network (ANN) 2021 data, Americans spent over USD 3 billion on non-surgical aesthetic procedures from January to June 2021. Also, according to the Aesthetic Plastic Surgery National Databank 2021 report, about 423.8 thousand non-surgical hair removal procedures were performed in women and 26.4 thousand in men. Hence, the large number of hair removal procedures is expected to propel the utility of non-surgical aesthetic devices such as lasers, thereby propelling the market growth during the forecast period.
• The strategic initiatives adopted by market players, such as product launches, approvals, and partnerships, are also contributing to the market growth during the forecast period. For instance, in February 2021, Osaka-Gunze Limited's subsidiary Medical U&A obtained government approval to produce and sell the long-term hair reduction diode laser MeDioStar Monolith in Japan. It is a 6th-generation diode laser developed by Asclepion Laser Technologies GmbH in Germany. Also, in June 2022, Cynosure launched the Elite iQ aesthetic workstation for laser hair removal and skin revitalization in the United States, Europe, and Australia. Such rising launches are expected to boost market growth during the forecast period.
• Therefore, with the increasing demand for painless skin tightening treatments, the rising demand for laser hair removal procedures, and increasing launches and approvals of technologically advanced non-surgical aesthetic devices, the studied market is anticipated to witness growth over the analysis period. However, the high cost of the devices and the need to repeat the procedures to maintain the appearance are the major restraints to the growth of the market.