Medical Aesthetic Devices Market Worth $38,916.60 million by 2030 | ohnson & Johnson, MERZ PHARMA GMBH, KGAA, Allergan
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Rise in demand for minimally invasive & noninvasive reconstruction surgeries drives the growth of the global medical aesthetic devices market. On the other hand, high costs of treatment, low reimbursements, and risk of malfunctions associated with implants impede the growth to some extent. However, development of the medical tourism industry, emergence of tourism medical spas, and adoption of aesthetic procedures to enhance physical appearance are anticipated to pave the way for lucrative opportunities in the industry.
Key Takeaways:
Market Growth: The medical aesthetic devices market has experienced significant growth in recent years and is expected to continue expanding. Factors such as an increasing desire for cosmetic procedures, advancements in technology, and a growing aging population are driving market growth.
Demand for Non-Invasive Procedures: There is a rising demand for non-invasive or minimally invasive aesthetic procedures. Patients prefer treatments that require minimal downtime and have fewer risks compared to surgical procedures. This has led to the development of various non-invasive medical aesthetic devices such as lasers, radiofrequency devices, and ultrasound devices.
Technological Advancements: The medical aesthetic devices market is characterized by continuous technological advancements. New devices with improved efficacy, safety, and precision are being introduced regularly. For example, the development of laser devices with advanced wavelengths and energy settings has expanded the range of treatable conditions.
Increasing Popularity of Energy-Based Devices: Energy-based devices, including laser and radiofrequency devices, are gaining popularity in the medical aesthetic field. These devices provide effective solutions for skin rejuvenation, hair removal, tattoo removal, body contouring, and various other aesthetic treatments. They offer precise targeting of tissues while minimizing damage to the surrounding areas.
The aesthetic implants segment to retain the lion's share-
By product type, the aesthetic implants segment held the major share in 2020, garnering more than two-thirds of the global medical aesthetic devices market. The devices segment, on the other hand, is projected to cite the fastest CAGR of 11.1% throughout the forecast period, due to rise in aging population, availability of consumer-friendly devices, and increase in the trend to look aesthetically appealing.
The surgical segment to dominate by 2030-
By application, the surgical segment contributed to the lion's share in 2020, holding more than two-thirds of the global medical aesthetic devices market. This is attributed to the fact that surgical medical aesthetic procedures are more accessible and affordable when compared with the non-surgical measures. However, the non-surgical segment is projected to manifest the fastest CAGR of 11.1% from 2021 to 2030.
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North America held the major share in 2020-
By region, North America dominated in 2020, garnering nearly two-fifths of the global medical aesthetic devices market, owing to increased adoption of medial aesthetics, enhanced technological advancements, and development of novel products by the key players in the province. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 11.7% throughout the forecast period. Improvement in R&D facilities, increase in medical tourism, and rise in awareness about medical aesthetics drive the market growth in the region.
Key players in the industry-
Johnson & Johnson
LUMENIS LTD
MERZ PHARMA GMBH & CO. KGAA
Hologic, Inc.
Zimmer Biomet Holdings, Inc.
Allergan plc
Sientra Inc
Dentsply Sirona Inc.
SYNERON MEDICAL LTD
VALEANT PHARMACEUTICAL INTERNATIONAL, INC
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