Summary

The global aesthetic medical devices market is expected to reach US$ 44.59 billion in 2031 from US$ 19.21 billion in 2023. The market is estimated to grow with a CAGR of 11.1% from 2023 to 2031.

The aesthetic medical devices market forecast presented in this report can help stakeholders in this marketplace plan their growth strategies. Rise in medical tourism globally, increase in prevalence of skin disorders and consumer awareness about skincare treatments, surge in adoption of minimally invasive and noninvasive aesthetic procedures, rising spending on medical procedures in developing countries and new product launches & approvals, and technological advancements associated with medical aesthetic devices are impacting the market growth. The manufacturers are developing user-friendly devices to expand their customer base. Also, the manufacturers are partnering with beauty clinics to expand their presence in the market.

Market Opportunities of Aesthetic Medical Devices Market

Rapid urbanization, increasing investments by healthcare providers in improving infrastructure, growing awareness among the population, and the availability of a wide range of advanced products and technologies in developing economies have contributed to making them the centers of medical tourism. In Saudi Arabia, Russia, Brazil, India, and South Africa, healthcare systems focus on introducing various advanced medical aesthetic technologies into their service portfolios. Patients from developed regions travel to emerging countries for various medical aesthetic procedures. Health facilities, medical spas, and wellness centers increasingly offer a comprehensive range of inexpensive but high-quality medical aesthetic procedures. The spending on cosmetic and rejuvenation procedures to improve aesthetics is rapidly increasing among the global population. In developing countries, there is rising awareness about minimally invasive treatments and acceptance of aesthetic procedures in the population, growing need for an ideal physical appearance, increasing incidence of skin diseases, growing geriatric population, and rising availability and acceptance of technologically advanced medical devices. Also, surging healthcare spending in developing economies in Asia Pacific enables healthcare professionals to adopt advanced technologies for performing cosmetic procedures. Thus, rising spending on medical procedures in developing countries is expected to create growth opportunities for the aesthetic medical devices market during the forecast period.

Factor Hampering Aesthetic Medical Devices Market

Cutaneous and aesthetic surgeries are generally considered low-risk surgeries in terms of patient morbidity and mortality. However, most adverse events go unreported due to a lack of regulation and insufficient enforcement. Many aesthetic procedures, such as spas and beauty salons, are performed in non-medical or quasi-medical settings. Most individual doctors and hospitals tend to avoid disclosing such adverse events to avoid adverse media exposure. Thus, risks and complications associated with procedures and stringent safety regulations hamper the growth of the aesthetic medical devices market

Despite the simplicity and reliability of practical procedures, complications can arise even when the surgery is performed by an experienced professional. In these procedures, there has been an increased use of lasers and radiofrequency in aesthetic medical devices, which has led to the development of stringent regulatory policies to ensure the safety of healthcare professionals and individuals. Documents 60601, 60825, and 60825-Part 8 of the International Electrotechnical Commission (IEC) are the international standards and benchmarks for laser safety worldwide. They contain normative and instructive recommendations for laser manufacturers, doctors, and facility administrators. They serve as the foundation for national standards in the majority of countries. These standards are harmonized with national standards in several countries, such as the US, Australia, and Canada, and are mandated as the foundation for all other rules and professionally recommended practices.

Based on formulation, the aesthetic medical devices market is classified into topical medication and oral medication. The topical medication segment held the largest share of the aesthetic medical devices market in 2022. The same segment is further anticipated to record a significant CAGR in the market from 2022 to 2030. Topical formulations play a vital role in managing and treating acne, offering targeted delivery of active ingredients directly to the affected skin areas. Various types of topical acne medication include gel, cream, lotion, foam, and solution, each tailored to address specific acne concerns and skin types. These formulations commonly contain ingredients such as retinoids, benzoyl peroxide, salicylic acid, and antibiotics, each serving distinct roles in combating acne breakouts.

• Based on technology, the aesthetic medical devices market is divided into segmented into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, plasma energy-based, ems, and microwave. The laser-based segment held largest market share in 2023.

• By application, the market is segmented into acne and acne scars, hair removal, facial skin resurfacing, photorejuvenation, skin tightening, feminine rejuvenation, fat reduction and body contouring, tattoos and pigmentation, vascular lesions, cellulite reduction, and others. The acne and acne scars segment held the largest share of the market in 2023.

• In terms of end user, the market is categorized into dermatology and cosmetic clinics, hospitals and clinics, medical spas, and home use. The dermatology and cosmetic clinics segment dominated the market in 2023.

Aesthetic Medical Devices Market: Geographical Overview

In terms of geography, the scope of the aesthetic medical devices market report encompasses North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2022, North America held the largest share of the global acne medication market.

North America has dominated the aesthetic medical devices market. The US held the largest share in 2023 owing to the increased number of aesthetic procedures has over the last 10 years. Also, technological developments have increased the number of minimally invasive and noninvasive procedures. According to the American Society of Plastic Surgeons, in 2022, 26.2 million surgical and minimally invasive operations were carried out in the US. Additionally, as per ASAPS 2020, 15.6 million cosmetic procedures were recorded in 2020, which included ~2.3 million cosmetic surgical and 13.2 million cosmetic minimally invasive procedures. Intense pulsed light (IPL) treatment is among the top 5 cosmetic minimally invasive procedures, with over 827,000 IPL procedures performed in the country in 2020. Asia Pacific is anticipated to grow with the highest CAGR in the coming years. .

A few of the major primary and secondary sources referred to while preparing the report on the aesthetic medical devices market are the World Bank Data, National Health Service (NHS), EMA (European Medicines Agency), and WHO (World Health Organization).