Aesthetic Devices Market

Aesthetic Devices Market Analysis by Application (Contouring, Rejuvenation, Tattoo Removal, Hair Removal, and Body Enhancement); by Product (Aesthetic Laser & Energy Devices, and Body Contouring & Skin Tightening Devices); and by End User (Cosmetic Centers, Hospitals, Dermatology Clinics, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 3851 | Published On: Feb 06, 2023

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • Lumenis, Inc. announce the launch of new skin rejuvenation technology, Legend Pro+, the technology facilitates treatments with less pain and quicker recovery treatments. The results provided by Legend Pro+ are immediate and long lasting.

  • Sanuwave Health, Inc.  made an announcement for coming in distribution agreement with Kingdom Brother, in order to accelerate the development and distribution of cosmetic treatment devices and wound care product in the region of Southeast Asia.


Global Aesthetic Devices Market Definition

Numerous disorders, including aging, dark spots, mole spots, acne, acne scars, and many more, are treated using aesthetic operations. Through the reduction of facial tanning, discoloration, and acne, among other things, these products help improve facial appearance. Dermal fillers, botulinum toxin, microdermabrasion, chemical peels, and other facial skin products are examples. These implants are further utilized to improve a variety of biological areas. Among other things, implants include breast implants and face implants. They are often constructed of various materials, including skin, bone, tissues, metal, plastic, and ceramic.


Global Aesthetic Devices Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~12%

Base Year Market Size (2022)

~ USD 15,000 Million

Forecast Year Market Size (2033)

~ USD 40,000 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Aesthetic Devices Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global aesthetic devices market is estimated to garner a revenue of USD 40,000 Million by the end of 2033 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 15,000 Million in the year 2022. The primary growth factor of the aesthetic devices market is increasing awareness about aesthetics and skin care, which in turn drives demand for beauty products. Additionally, technological advancements are helping to improve the quality of these products. This has led to increased adoption of aesthetic devices by individuals across all age groups. Skin problems including acne, dermatitis, sunburn, dermatitis, psoriasis, and others require treatment and thus propelling the market growth. According to NIH, the rate of prevalence of acne vulgaris, lesions, and deep scars is 50.9% in women aged 20-29 years and 26.3% in women of age 40-49 years.

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Increased prevalence of cosmetic treatment of the issues such as skin lift, botox, tissue regeneration, and others. As per the American Society of Plastic Surgeons, 3 million procedures of tissue fillers were performed and 140,000 procedures of dermabrasion. Moreover, higher instances of hair loss chipped teeth, and tattoo removal is expected to propel the market growth.


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Global Aesthetic Devices Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Popularity of Minimally Invasive Surgery - Minimally invasive procedure has an advantage over other surgery, they are, less painful, shows good result, are less intrusive, and has quicker healing. This makes the treatment with minimal invasion popular among the patients. In the United States, nearly 18 million aesthetic surgeries were done in the year 2019, out of which around 16 million were minimally invasive procedures.

  • Surge in Practices of Cosmetic Surgery - People’s disapproval of their skin, looks, or the aging effects is making them go for cosmetic enhancement and practice aesthetic surgery. In 2020, around 10 million surgical procedures were performed, and about 14 million non-surgical cosmetics.

  • Advancement in Technology of Aesthetic Devices - Growing technology is always the need of an hour and it provides ample treatment options for the patients and creates growing space for aesthetic devices as well. In April 2019, Legend Pro+, an RF thermal skin regeneration technology was launched to boost the formation of collagen and elastin fibers, it firms the skin by performing skin stimulation.

  • Increasing Number of People with Distorted Tooth - The problems such as distorted teeth or broken teeth have a significant effect on the aesthetic beauty of the face. The cases of teeth problems among the population are rising. According to the World Health Organization, 530 million children have caries of primary teeth and 2 billion people are living with crumbling of permanent teeth.

  • Rise in Problems of Hair Loss and Scalp-Related Issues - Hair loss issues among the population are rising owing to pollution, degraded water quality, lack of nutrition, and others. In 2020, every 13th person is having a hair transplantation, worldwide and the volume of male patients are about 5 times higher than females.

Challenges

  • Expensive Treatment of Aesthetic Surgery - Instead of fixing the problems, many times aesthetic surgery might lead to serious issues such as the overdose of hormones, distortion of facial features, and in some cases can even lead to death. Any sort of aesthetic treatment or surgery involves risk as well. This fear of malfunction is likely to hamper the market growth. According to statistics from the ANN (Aesthetic Neural Network), more than $9 billion was spent on cosmetic plastic surgery in 2020.

  • Lack of Adequate Insurance and Reimbursement Policy

  • Risk of Malfunctions of Facial Distortion due to Cosmetic Surgery

The aesthetic devices market is segmented and analyzed for demand and supply by application into contouring, rejuvenation, tattoo removal, hair removal, and body enhancement. Amongst all, the body enhancement segment is anticipated to hold the largest market size by the end of 2033, owing to the rising need for people to look young, have uplifted bodies, and achieve the desired look is prompting them to do body enhancement by opting plastic surgery, liposuction, breast implantation, and others. In 2019, nearly 2 million breast enhancements were performed, followed by around 11 million plastic surgery, over 1 million liposuctions, and about 1 million eyelid surgery.


Global Aesthetic Devices Market Regional Synopsis

The North America aesthetic devices market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to the high frequency of facial and dental malformations, rising numbers of people choosing cosmetic surgery, and a growing number of cosmetic procedures with such a big patient base in North America. There are around 3700 dermatologists active in the United States. The growing need for aesthetic surgery is to propel the growth of the market in the region. In 2020, more than 15 million cosmetic procedures were performed in America.

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Market Segmentation

Our in-depth analysis of the global aesthetic devices market includes the following segments:

         By Application

  • Contouring
  • Rejuvenation
  • Tattoo Removal
  • Hair Removal
  • Body Enhancement

          By Product

  • Aesthetic Laser & Energy Devices
  • Body Contouring & Skin Tightening Devices

         By End-User

  • Cosmetic Centers
  • Hospitals
  • Dermatology Clinics
  • Others

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Top Featured Companies Dominating the Global Aesthetic Devices Market

    • Alma Lasers

      • Company Overview

      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Sciton Inc.
    • Allergan, Inc.
    • Nestle Skin Health
    • Johnson & Johnson
    • Lumenis BE Ltd.
    • Solta Medical
    • Sanuwave Health Inc.
    • Candela Corporation
    • Cynosure, Inc.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the aesthetic devices market?

Ans: Higher demand of aesthetic treatment & minimally invasive techniques, rising cases of hair loss, tooth loss and growing technology are the few factors likely to propel the market growth

2) What would be the CAGR of aesthetic devices market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~12% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the aesthetic devices market growth?

Ans: Risk of malfunctioning during surgery, expensive treatment and poor imbursement policy are few factors likely to hamper the market growth.

4) Which region will provide more business opportunities for growth of aesthetic devices market in future?

Ans: The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the aesthetic devices market?

Ans: The major players in the market are Alma Lasers, Sciton Inc., Allergan, Inc., Nestle Skin Health, Johnson & Johnson, Lumenis BE Ltd., Solta Medical, Sanuwave Health Inc., Candela Corporation, Cynosure, Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the global aesthetic devices market?

Ans: The market is segmented by application, product, end user, and by region.

8) Which segment captures the largest market size in application in the aesthetic devices market?

Ans: The body enhancement segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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