The global medical aesthetic devices market size is expectedto reach around USD 19,419.10 million by 2027.
The global medical aesthetic devices market was valued at US$ 8,590.02 Mn in 2018 and is projected to expand at a CAGR of 10.8% during forecast period from 20120 to 2027.
Medical aesthetics focuses on improving cosmetic appearance through the treatment of conditions such as scars, skin laxity, wrinkles, moles, liver spots, excess fat, cellulite, unwanted hair, skin discoloration, and spider veins. Laser and energy devices are most commonly used for skin and hair treatment including applications such as skin rejuvenation, tattoo removal, and skin tightening. Health concerns and rise in demand for technologically advanced products boost the growth of the global medical aesthetic devices market.
The global market is anticipated to be driven by technological advancements and increase in incidence of skin diseases during the forecast period. The medical aesthetic devices market in Asia Pacific is expected to expand at a high CAGR due to high population base, increase in disposable income of consumers, easier entry for new local manufacturers offering products at competitive prices, and rise in awareness about aesthetic treatments.
Increase in Incidence of Skin Diseases
Medical aesthetic devices assist in efficient diagnosis and treatment of various skin conditions. Dermatological indications such as pigmented lesions, acne, wrinkles, and vascular lesions. During the 2008–2009 recession, the market was hit hard due to its reliance on disposable consumer income. However, in subsequent years, the market recovered rapidly. Increase in the incidence rate of skin cancer and other skin disorders across the globe is expected to drive the number of patients requiring diagnosis and treatment. Minimally invasive lasers, dermal fillers, and topical product classes were preferred by patients in the last decade. This in turn is expected to increase the uptake of aesthetic devices, thereby driving the market. Moreover, increase in customer preference for aesthetic procedures and their willingness to spend more on these fueled the growth of the global medical aesthetic devices market.
Increase in Patient Preference for Minimally Invasive Surgeries to Drive Demand for Medical Aesthetic Devices
According to American Society of Plastic Surgeons estimates, over 15.7 million minimally invasive aesthetic procedures were performed in the U.S. in 2017, an increase of 2% over that in 2016. This indicates high popularity of minimally invasive procedures in aesthetic applications. For minor skin related issues such as unwanted hair, wrinkles, and lines, patients prefer faster solutions with minimal pain that will help them resume work at the earliest. Moreover, introduction of hand-held devices in the microdermabrasion and dermal filler segments is likely to increase convenience for service providers, thereby propelling the uptake of these devices. Globally, botulinum toxin injection and hair removal are the most common minimally invasive and surgical procedures performed, respectively. As a result, the global medical aesthetic devices market is witnessing an increasing trend of product innovation to ensure maximum patient comfort during and after treatment. These factors are likely to drive the global market in the near future.
In terms of product type, the global medical aesthetic devices market has been categorized into aesthetic laser & energy devices, skin tightening & body contouring devices, aesthetic implants, and facial aesthetic devices. The aesthetic laser & energy devices segment accounted for major market share in 2017. Utilization of aesthetic laser & energy devices is rising gradually due to the increase in occurrence of skin and aging problems across the world. Based on application, the global market has been classified into facial & body contouring, facial & skin rejuvenation, breast enhancement, scar treatment, congenital defect repair, reconstructive surgery, tattoo removal, and hair removal. In terms of end-user, the global medical aesthetic devices market has been segmented into hospitals, dermatology clinics, and cosmetic centers. Hospitals is the major segment of the market because these are the most favored settings for implantation and offer easy access to physicians.
Asia Pacific to Present Significant Opportunities Due to Rise in Adoption of Aesthetic Devices
Geographically, the global medical aesthetic devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for the largest share of the global market during the forecast period, owing to advancement in technology and high adoption of medical aesthetic devices. Europe is anticipated to account for significant share of the global market between 2018 and 2026. Increase in incidence of skin diseases is expected to propel the market in the region during the forecast period. The market in Asia Pacific is likely to witness strong growth from 2018 to 2026, due to rise in adoption of aesthetic devices. Moreover, increase in focus of key players on expansion in the region, large untapped population, and rise in awareness about aesthetic procedures are projected to augment the medical aesthetic devices market in Asia Pacific.
Key players operating in the global medical aesthetic devices market are Fosun Pharmaceutical Co., Ltd. (Alma Lasers), Mentor Worldwide LLC, Cutera, Inc., Cynosure, Inc., Lumenis Ltd., Syneron Medical Ltd., and Solta Medical, Inc. These players exhibit the widest geographical footprint, with presence in multiple medical aesthetic devices product segments.
The Medical Aesthetic Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Aesthetic Devices market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Aesthetic Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Aesthetic Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Aesthetic Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Aesthetic Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Aesthetic Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Aesthetic Devices market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Aesthetic Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Aesthetic Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Aesthetic Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Medical Aesthetic Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Aesthetic Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Aesthetic Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Aesthetic Devices market. These factors have benefited the growth of the global market for Medical Aesthetic Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Aesthetic Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
Product Segment Analysis
Application Segment Analysis
Regional Segment Analysis
In this study, the years considered to estimate the market size of Medical Aesthetic Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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