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Aesthetic Devices Market Grow at a CAGR of 10.30% and Is Expected to Reach USD 28,865.17 million by 2029

Global Aesthetic Devices Market

Global Aesthetic Devices Market

Aesthetic Devices Market By Product Type, Size, Share, Growth, By Emerging Trends, Business Strategies, Developing Technologies and Regional Overview

PUNE, MAHARASHTRA, INDIA, May 27, 2022 /EINPresswire.com/ -- Data Bridge Market Research analyses that the Aesthetic Devices Market is expected to undergo a CAGR of 10.30% during the forecast period of 2022-2029. This indicates that the market value, which was USD 13,175.58 million in 2021, would rocket up to USD 28,865.17 million by 2029. “Breast Enhancement” dominates the product segment of the aesthetic devices market owing to the increasing product launches and advancements in technologies. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Aesthetic Devices Market is the most appropriate, realistic and admirable market research report delivered with a supreme devotion and comprehension of business needs. The data and information included in the report are taken from reliable sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the market experts. The market data is analysed and forecasted using well established market statistical and coherent models. The most up to date market insights and analysis performed in this market document brings marketplace clearly into focus. The scope of reliable A market report extends from market scenarios to comparative pricing between major players, cost and profit of the specified market regions.

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Aesthetic Devices Market research report is a demonstrated source of data and information that gives a telescopic view of the current market trends, situations, opportunities and status. Very talented minds have invested their lot of time for doing market research analysis and hence generate this market report. The report performs estimations about top players and brands with respect to their actions such as developments, product launches, acquisitions, merges, joint ventures and competitive research in the market. The wide ranging Aesthetic Devices Market report gives an exhaustive overview of product specification, technology, product type and production analysis by considering major factors such as revenue, cost, and gross margin.

Market Definition

From the name itself, it is clear that aesthetic devices are the medical devices and instruments that are used in the aesthetic surgical procedures. These aesthetic devices provide greater precision and accuracy and are also used in minimally invasive procedures. Aesthetic devices are used in reconstructive and body sculpting surgeries for beautification, correction, and improvement of the body. Aesthetic devices facilitate unwanted hair removal, excess fat removal, and other similar procedures. 

Major Key Players:

Some of the major players operating in the aesthetic devices market are Alma Lasers (Israel), CANDELA CORPORATION. (US), Merz Pharma (Germany), Lumenis (Israel), Cutera (US), Hologic, Inc. (US), IRIDEX Corporation (US), DEKA Medical Inc., (US), ENDYMED (US), Fotona (US), LUTRONIC (South Korea), Quanta System. (US), SharpLight Technologies Inc. (Canada), Solta Medical (US), SpectruMed Inc. (Philippines), Abbvie Inc., (US), CAO Group, Inc., (US), AMD Lasers, Inc., (US) and BIOLASE, Inc., (US) among others.

Aesthetic Devices Market Scenario     

Aesthetic devices are increasingly gaining popularity in the western economies. Rising product innovations in the field of medical science have ensured the availability and application of advanced, high grade and high quality products to be used for aesthetic procedures. Developing economies have further presented lucrative market growth opportunities.                     

Aesthetic Devices Market Dynamics

Drivers

The rise in the prevalence of disorders

Surging prevalence of skin disorders and diseases all around the globe owing to various internal and external factors is one of the major factors responsible for fostering growth in the demand for aesthetic devices. Also growing incidence rate of skin burns and acid attacks will further widen the scope of growth for the market.

Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. According to a survey by Hamilton Fraser Cosmetic Insurance, conducted in March 2020 in the United Kingdom to assess the impact of the pandemic on cosmetic procedures, 99.78% of practitioners revealed that their practice had been affected during the current pandemic.

Government investments on healthcare infrastructure

The increase in the funding by the federal government is set to drive the demand for aesthetic devices. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative personal health devices market growth opportunities.

Additionally, surge in the personal disposable income level, introduction of technologically driven product in hospitals and increasing investment for the development of advanced, rising adoption of minimally invasive devices and innovative technology, positively affect the market growth rate.

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Opportunities

Furthermore, upsurge in the public-private funding for target research activities, increasing obese population, increasing awareness regarding aesthetic procedures and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, surging number of strategic collaborations, rising internet penetration rate, growing number of hospitals and laboratories, rising geriatric population base, rising number of social media consumers, rising alertness between the masses about the medical aesthetic treatments and increasing per capita expenditure on health care will further expand the market's growth rate in the future.

Restraints/Challenges

On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and clinical risks and difficulties related with the medical aesthetic procedures are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, growing accessibility and the acceptance of substitute beauty and the cosmetic products, social and ethical issues associated with cosmetic treatments  and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.

This aesthetic devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the aesthetic devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Aesthetic Devices Market

COVID-19 has significantly and negatively impacted the market. The beauty and luxury sector is one of the worst hit sectors of all. Supply chain disruptions demoted the market demand and supply. Shifting focus towards the essential healthcare procedures during this phase put a halt on unnecessary operations. There was a huge postponement on the non-essential surgical procedures. All of this proved to be a bane for the market during pandemic.

Recent Development

In 2019, 2019, Evonik and BellaSeno GmbH entered a long-term agreement for the use of a RESOMER bioresorbable polymer for an innovative breast implant technology.

In June 2020, E.S.I. The novel., a part of Essence Group, launched JOLI360, a new skin rejuvenation solution that can measure three skin parameters: hydration, elasticity, and sebum.

In May 2020, Abbvie Inc. completed the acquisition of Allergan PLC, thus, expanding its product portfolio in the aesthetic devices market.

In June 2020, Cynosure launched the Elite iQ platform, the next generation of the Elite+ Aesthetic Workstation in the United States, European, and Australian markets for laser hair removal and skin revitalization applications.

Global Aesthetic Devices Market Scope

The aesthetic devices market is segmented on the basis of product type, end users and procedure. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

Aesthetic Laser Devices

Aesthetic Energy Devices

Body Contouring Devices

Based on the product type, the aesthetic devices market is segmented into aesthetic laser devices, aesthetic energy devices, and body contouring devices.

End Users

Hospitals and Clinics

Medical Spas

Beauty Centres

Based on the end users, the aesthetic devices market is segmented into hospitals and clinics, medical spas and beauty centres.

Procedure

Anti-Aging

Rejuvenation

Cellulite Reduction

Breast Enhancement

Scars and Other Mark Removal Surgeries

Liposuction Surgeries

Arm Lift

Tummy Tuck

Buttock Augmentation

Psoriasis

Vitiligo

Based on the procedure, the aesthetic devices market is segmented into anti-aging, rejuvenation, cellulite reduction, breast enhancement, scars and other mark removal surgeries, liposuction surgeries, arm lift, tummy tuck, buttock augmentation, psoriasis and vitiligo.

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Aesthetic Devices Market Regional Analysis/Insights

The aesthetic devices market is analysed and market size insights and trends are provided by country, product type, end users and procedure as referenced above.

The countries covered in the aesthetic devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the aesthetic devices market because of the strong base of healthcare facilities, rising investment from key players in the growth of the advanced devices, growing need for the aesthetic processes and rising number of research activities in this region.  

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, ever-rising geriatric population base and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.  

Healthcare Infrastructure growth Installed base and New Technology Penetration

The aesthetic devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for aesthetic devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the aesthetic devices market. The data is available for historic period 2010-2020.

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