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The aesthetic devices market size is estimated to grow by USD 10.81 billion at a CAGR of 11.22% between 2022 and 2027. 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. 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.
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This market research report extensively covers market segmentation by the device (energy-based aesthetic devices and non-energy-based aesthetic devices), end-user (dermatology clinics, hospitals, and others), and geography (North America, Europe, Asia, and the Rest of the World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the energy-based aesthetic devices segment will be significant during the forecast period. The increasing demand is primarily driven by the increasing number of aesthetically sensitive patients.
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The energy-based aesthetic devices segment was valued at USD 6.12 billion in 2017. 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 beauty 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.
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North America is estimated to contribute 37% 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.
In 2022, 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. Advancements in laser systems, radiofrequency devices, and ultrasound technologies have improved treatment outcomes. 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. Our researchers analyzed the data with 2022 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 surge 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 operates under multiple segments, including Bausch Lomb International and salix, among others, with a high focus on Bausch Lomb Internationa. They?offer 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 report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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.
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 (RF) based 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.
Market Scope |
|
Report Coverage |
Details |
Page number |
147 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.22% |
Market growth 2023-2027 |
USD 10.81 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.59 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Mexico, Brazil, Germany, and China |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie, Aerolase Corp., Alma Lasers GmbH, Anika Therapeutics Inc., ARC Laser GmbH, Bausch Health Co Inc., Candela Corp, Cutera Inc., Cynosure LLC, El.En. Spa., Fotona d.o.o, Galderma SA, Inmode Ltd., Johnson and Johnson, Lumenis Be Ltd, Lutronic Inc, Medytox Inc., Merz Pharma GmbH and Co KGaA, Recosmo, and Sciton Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Device
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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