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The aesthetic devices market size is estimated to grow at a CAGR of 11.22% between 2022 and 2027. The aesthetic devices market size forecast of the market is forecast to increase by USD 10,815.68 million. The growth of the market depends on several factors, including the shifting consumer attitudes about wellness and beauty, the expanded access to services, and the rising R&D activities that boost the market growth.
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 Rest of World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The shifting consumer attitudes about wellness and beauty are notably driving the market growth, although factors such as stringent regulation on aesthetic devices may impede the 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 aesthetic devices market growth. Medical aesthetics is becoming more popular worldwide, as it is now a common treatment for those seeking non-invasive cosmetic procedures to achieve a healthy and natural appearance. Because aesthetic devices provide quick results in a short time, aesthetic clinical procedures are becoming more and more common. Treatment requires little or no downtime while using an RF infusion device.
The development of the internet and the rise in popularity of social media has increased the availability of information and increased awareness of aesthetic procedures. The growing use of social media and public awareness of medical aesthetic procedures is expected to have a favorable impact on sales of aesthetic devices, contributing significantly to market growth during the forecast period.
An increase in the adoption of robot-based surgery is a major trend in the aesthetic devices 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 in the near future.
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 global aesthetic devices market is expected to witness huge growth during the forecast period.
Stringent regulation on aesthetic devices is a major challenge impeding aesthetic devices market growth. Several regulatory agencies have established strict rules for the approval of aesthetic devices. Aesthetic devices 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 aesthetic devices 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 vendors, which may hinder the 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 Aesthetic Devices Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the aesthetic devices 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. The company under this segment?offers 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 aesthetic devices market report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the energy-based aesthetic devices segment will be significant during the forecast period. The increasing demand for energy-based aesthetic devices 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 6,124.63 million in 2017 and continued to grow until 2021. Energy-based aesthetic devices are used for various aesthetic applications such as skin resurfacing, skin tightening, and body contouring. Better availability of cosmetic procedures, increasing obesity worldwide, awareness of aesthetic devices 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 energy-based aesthetic devices during the forecast period, which in turn will boost the growth of the aesthetic devices 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 global aesthetic devices 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 aesthetic devices 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.
In 2020, the COVID-19 pandemic negatively impacted aesthetic device market growth in the region. However, in 2021, the resumption of end-user activities in hospitals, clinics, and vaccination drives boosted the sales of aesthetic devices. Thus, with increasing demand for plastic surgeries, the regional aesthetic devices market is expected to witness high growth during the forecast period.
Technavio categorizes the global aesthetic devices market as a part of the global healthcare equipment market. The parent global healthcare equipment market covers products and companies engaged in R&D of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The aesthetic devices 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 has been segmented by 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 Rest of World (ROW)).
Aesthetic Devices 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 10,815.68 million |
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 Vendors, Market Positioning of Vendors, 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 growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the 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. |
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