Enjoy complimentary customisation on priority with our Enterprise License!
The aesthetic devices market size is estimated to grow by USD 12.52 billion at a CAGR of 11.74% between 2023 and 2028. Shifting consumer attitudes toward wellness and beauty, driven by a growing emphasis on self-care and holistic well-being, are fueling demand for wellness and beauty products and services. Expanded access to services, including the availability of wellness and beauty products online and through various retail channels, is also driving market growth. Advancements in laser systems, wearable medical devices, and ultrasound technologies have improved treatment outcomes. Additionally, rising R&D activities in the wellness and beauty industry, leading to the development of innovative products and treatments, are creating new opportunities for growth in the market. Overall, these factors are reshaping the wellness and beauty industry and driving the demand for innovative products and services.
To learn more about this report, Download Aesthetic Devices Market Research Report Sample Pdf
The market share growth by the Hospitals segment will be significant during the forecast period. The increasing demand is primarily driven by the increasing number of aesthetically sensitive patients.
Get a glance at the market contribution of various segments Request Market Research Report Sample Pdf
The hospitals segment was valued at USD 4.11 billion in 2018. They are used for various aesthetic applications such as skin resurfacing, skin tightening, and body contouring. Better availability of cosmetic procedures, increasing obesity worldwide, awareness, and increasing technological advancements in the field of cosmetic devices are the factors driving the growth of the market. The ever-growing presence of social media has increased the awareness of aesthetic treatments and the availability of versatile energy-based aesthetic treatments in the market. As the awareness of beauty-enhancing procedures increases, there will be a high demand for these during the forecast period, which in turn will boost the growth of the market.
For more insights on the market share of various regions Request Market Research Report Sample Pdf!
North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America accounted for the largest share of revenue in the market. This is due to the increase in the number of aesthetic equipment manufacturers and the rapid development of the aesthetic equipment market by major players. Technological development of these products used for removal, skin tightening, skin rejuvenation, and other cosmetic procedures can be observed in the region. In addition, the market is growing due to the increasing incidence of dissatisfaction with appearance as well as improved self-confidence and the demand for a younger appearance.
The market is witnessing growth due to the rising popularity of minimally invasive cosmetic procedures. Technologies such as laser skin resurfacing, dermal fillers, and non-surgical fat reduction are in demand. Factors such as consumer awareness and an aging population drive market expansion. They include energy-based devices like laser and radiofrequency systems, as well as non-energy-based devices such as chemical peels and aesthetic threads. Collaboration between key stakeholders and research initiatives further boosts market growth. Buying behaviour in the aesthetic industry varies widely depending on the efficacy and safety of smart energy based aesthetic device like Laser-based Aesthetic Device, Radiofrequency (RF) Based Aesthetic Device, Light-based Aesthetic Device, and Ultrasound Aesthetic Device. Non-energy-based Aesthetic Device treatments such as botulinum toxin injections are also sought after for their effectiveness in surgical aesthetic treatments. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The shifting consumer attitudes about wellness and beauty are notably driving the market growth. Medical aesthetics is gaining popularity globally, offering non-invasive cosmetic procedures for individuals seeking a natural and healthy appearance. They provide quick results with minimal downtime, making aesthetic clinical procedures increasingly common. The development of the internet and the increase in social media use have led to greater information availability and awareness of aesthetic procedures.
This trend is supported by conference and webinar materials, key stakeholders, buying behavior, grants and funding, research and awareness initiatives, and the availability of minimally invasive devices. The expanding use of social media and public awareness of medical aesthetic procedures are anticipated to positively impact the sales of aesthetic devices, significantly driving market growth in the forecast period.
An increase in the adoption of robot-based surgery is a major trend in the market. Robotics is transforming the medical aesthetics market. Robots facilitated savings and improved the availability of procedures. Many procedures, such as vascular procedures, body contouring, hair removal, tattooing, skin resurfacing, and skin rejuvenation, will be robotic soon.
Artificial intelligence (AI) has been used to create a robotic hand that can autonomously administer soft tissue and botox to cosmetic patients. Maria Medical Technology (MMT), a manufacturer of cosmetic devices and medical robots in the United Arab Emirates, presented the iLaser, an automated artificial intelligence-based medical hair robot. This enables dermatologists and beauticians to safely treat patients, the device is built with reliable sensors and intrinsically safe components. Therefore, with the increased adoption of technology and robotics, the market is expected to witness huge growth during the forecast period.
Stringent regulation on aesthetic devices is a major challenge impeding market growth. Several regulatory agencies have established strict rules for the approval of aesthetic devices. They have serious side effects. Aesthetic tools come with some temporary side effects after the procedure, such as skin discoloration and localized bruising. Laser removal damages the target hair follicles. It is also associated with the risk of skin infections, burns, blisters, and scars.
Therefore, strict regulations apply to the use of the equipment. Thus, as the demand for energy-based products such as lasers, radio frequency, and ultrasound increases, US regulators enforce strict regulations to ensure patient safety. Adherence to such strict regulations is a challenge for aesthetic device companies, which may hinder market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bausch Health Co Inc. - The company pharmaceutical products, OTC products, medical devices, vision care, eye surgery, and other ophthalmic products. The company's key offerings include a broad selection of aesthetic medical devices.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market is driven by a variety of factors, including advancements in technology and the growing demand for cost-effective beauty products. This market caters to a wide range of needs, from acne treatment to wrinkle reduction and body contouring. Non-invasive or minimally invasive devices are particularly popular, offering natural-looking results without the need for surgical procedures. Medical spas and beauty centers play a key role in providing these treatments, with qualified medical professionals such as cosmetic surgeons and aestheticians leading the way in delivering safe and effective care. With the rise of alternative beauty and cosmetic products, the market continues to evolve to meet the diverse needs of beauty enthusiasts worldwide.
Moreover, the market is a key segment of the beauty and wellness industry, catering to diverse needs such as anti-aging, body contouring, and facial rejuvenation. Healthcare practitioners and beauty therapists utilize a range of advanced technologies, including laser resurfacing devices, laser therapy, and Radiofrequency devices for treatments. Factors such as aging population demographics and celebrity culture influence consumer buying behavior, driving demand for procedures like liposuction, facial implants, and breast augmentation. The market also addresses dermatological conditions and offers solutions for scarring and skin resurfacing. In developing nations, the market is witnessing rapid growth due to increasing healthcare providers and rising personal grooming trends.
The Aesthetic Devices Market is witnessing significant growth due to increasing patient populations seeking non-surgical and minimally invasive treatments for various cosmetic concerns. These concerns include skin laxity, acne scars, pigmentation disorders, wrinkles, and cellulite reduction. Microfocused ultrasound and fractional radiofrequency are popular non-surgical procedures for skin tightening and rejuvenation. The consumer base for aesthetic devices is expanding due to the obesity epidemic, increasing disposable income, and social media influence.
The market for aesthetic devices is diverse, encompassing nonenergy-based devices like microcoring technique for skin texture improvement and minimally invasive surgical procedures like FDA-cleared exosome technology for beauty enhancement. Global market trends indicate a shift towards nonsurgical procedures and emerging economies' growing investment in the healthcare sector. Safety protocols and patient satisfaction are crucial factors in the market's success. Weight management and obesity treatments are also gaining traction, with cellulite reduction being a significant application area. Medical tourism is another factor driving the market's growth. Overall, the aesthetic devices market is expected to continue its upward trajectory, offering significant opportunities for investors.
Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.74% |
Market growth 2024-2028 |
USD 12.52 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.19 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 38% |
Key countries |
US, China, Brazil, Mexico, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie, Aerolase Corp., Alma Lasers Ltd., Anika Therapeutics Inc., ARC Laser GmbH, Bausch Health Companies Inc., Candela Corp., Cutera Inc., Cynosure LLC, El.En. S.p.A., Fotona d.o.o, Galderma SA, Inmode Ltd., Johnson and Johnson Services Inc., Lumenis Be Ltd., Lutronic Inc., Medytox, Merz Pharma GmbH and Co KGaA, Recosmo, and Sciton Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Market Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for Market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Request Market Research Report Sample Pdf
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Device
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.