Aesthetic Devices Market Trends

Growth Drivers

• Rising Popularity of Minimally Invasive Surgery - Minimally invasive procedure has an advantage over other surgery, they are, less painful, shows the good result, are less intrusive, and has quicker healing. This makes the treatment with minimal invasion popular among the patients, and it is anticipated to increase the growth of the global aesthetic devices market over the forecast period. 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 and about 14 million non-surgical cosmetics were performed, globally.

• Advancement in the 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. Therefore, it is anticipated to increase the growth of the global aesthetic devices market.  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, and it is predicted to boost the market’s growth. According to the World Health Organization, globally 530 million children have caries in the primary teeth, and 2 billion people are living with the crumbling of their 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, globally every 13^th person is having hair transplantation, worldwide and the volume of male patients is 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 and Facial Distortion due to Cosmetic Surgery