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The aesthetic medical devices market was valued at US$ 13,536.51 million in 2021 and is likely to be valued at US$ 29,734.56 million by 2028; it is estimated to grow at a CAGR of 11.9% from 2022 to 2028.
The aesthetic medical devices market is segmented on the basis of technology, application, end user, and regions. The report offers insights and in-depth analysis of the market, emphasizing various parameters including trends and opportunities of market, dynamics of market, and competitive landscape analysis of leading market players across various regions. It also includes the impact analysis of COVID–19 pandemic across the regions.
Market Insights
Increasing Prevalence of Skin Disorders and Rising Awareness about Beauty Devices
The rising prevalence of disorders such as dermatitis, acne, psoriasis, and other skin anomalies such as warts, moles, and lesions are creating the demand for aesthetic medical devices. According to the American Academy of Dermatology Association, acne is the most common skin condition in the US and affects ~50 million Americans annually. Thus, a surge in such acne conditions creates the need for aesthetic medical devices. Additionally, changing beauty standards and the beauty industry are creating the demand for aesthetic medical devices, thereby driving the growth of the aesthetic medical devices market.
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Aesthetic Medical Devices Market: Strategic Insights
Market Size Value in US$ 13,536.51 Million in 2021 Market Size Value by US$ 29,734.56 Million by 2028 Growth rate CAGR of 11.9% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2021
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aesthetic Medical Devices Market: Strategic Insights
| Market Size Value in | US$ 13,536.51 Million in 2021 |
| Market Size Value by | US$ 29,734.56 Million by 2028 |
| Growth rate | CAGR of 11.9% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
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On the other hand, the rise in consumer awareness about skincare treatments is increasing medspas and skin clinics to provide affordable skin treatments for various skin conditions, thereby boosting the demand for aesthetic medical devices. In addition, there has been an increase in demand and inclination toward home-based skincare devices, which are portable. These devices are based on microcurrent and ultrasonic technic technology. For instance, in July 2021, NuFACE innovative at-home microcurrent technology launched its latest skincare innovation with IonPlex Ionized Skincare Activators—a unique blend of electrically charged ions and glacial water that deliver a surge of active ingredients for optimal microcurrent results and healthy, younger-looking skin.
Aesthetic Medical Devices Market - Technology-Based Insights
Based on technology, the aesthetic medical devices market is segmented into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, and plasma energy-based. In 2021, the laser-based segment held the largest market share. However, the electromagnetic energy-based segment is anticipated to register the highest CAGR in the market during 2022–2028. Numerous laser devices known to rejuvenate the skin by resurfacing its upper layers are available in the market. These devices help improve the appearance of face and soften marks left by acne as well as scarring caused by other problems. The commonly used laser-based devices for aesthetics procedures are categorized as ablative and non-ablative lasers. Lasers that remove the top layer of the skin are called ablative lasers (erbium and CO2 lasers). The ablative laser affects only top layers of the skin and heats the underlying layer, thereby stimulating the growth of new collagen fibers. Lasers that can remove tissue beneath the first layer of skin are called non-ablative lasers. The non-ablative laser removes skin damage that is much more severe and the recovery time with a non-ablative laser is much swifter than it is when conventional ablative lasers. Non-ablative laser help enhance skin tone and texture over the period. The laser-based devices help treat a wide range of conditions, such as skin photodamage dyschromia, scars, warts, acne, wrinkles, age spots, hair and tattoo removal, body contouring, and leg and facial veins. Such advantages of the laser procedures are likely to contribute to the growth of the segment in the coming years.
Aesthetic Medical Devices Market, by Technology – 2021–2028
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Aesthetic Medical Devices Market - Application-Based Insights
Based on application, the aesthetic medical devices market is segmented into facial skin resurfacing, photo rejuvenation, hair removal, fat reduction & body contouring, skin tightening, cellulite reduction, feminine rejuvenation, tattoos & pigmentation, acne & scars, vascular lesions, and others. In 2021, the acne and acne scars segment held the largest share of the market. However, the feminine rejuvenation segment is expected to grow at the fastest rate during the forecast period. Epidemiological studies have illustrated that acne is most common in postpubescent teens, with boys most often affected, particularly with more severe forms of the disease. Acne is a common skin problem characterized by pimples on the face and other body parts. It leaves serious scars and other side effects such as dry skin and itching. Rising concerns among individuals for their aesthetic appearance are a major factor boosting interest in scar treatment products. Serious scars or marks caused due to road accidents are also adding to market development. Topical products mostly reduce these scars. Road accidents and burn injuries additionally lead to a rise in demand for acne & scars removal procedures.
Aesthetic Medical Devices Market - End User-Based Insights
Based on end user, the aesthetic medical devices market is segmented into facial skin resurfacing, photo rejuvenation, hair removal, fat reduction & body contouring, skin tightening, cellulite reduction, feminine rejuvenation, tattoos & pigmentation, acne & scars, vascular lesions, and others. In 2021, the dermatology and cosmetic clinics segment held the largest share of the market and is expected to grow at the fastest rate during the forecast period.
The aesthetic medical devices market players adopt organic strategies, such as product launch and expansion, to expand their footprint and product portfolio globally, and meet the growing demand. Inorganic growth strategies witnessed in the market are partnerships and collaborations. These growth strategies have allowed the market players to expand their businesses and enhance their geographic presence. Additionally, acquisitions, partnerships, and other growth strategies help strengthen the company’s customer base and increase its product portfolio.
- In Sept 2021, InMode Ltd. launched the EvolveX platform with transform technology. EvolveX is a hands-free, zero downtime full-body transforming solution equipped with clinically proven technologies to remodel skin, treat fat, and sculpt muscles. The versatility of EvolveX multi-modalities allows physicians to focus on each patient's needs and produce consistent transformative results.
- In May 2021, Lumenis entered a new partnership with the prestigious Harrods Wellness Clinic, London, UK. Harrods equipped its aesthetic clinic with the Stellar M22. This powerful multi-application modular platform that combines IPL and laser technologies was first installed in the consulting room of renowned Doctor Marwa Ali.
Aesthetic Medical Devices Market - Company Profiles
- Alma Lasers
- Merz Pharma
- Bausch Health Companies, Inc.
- Lumenis Be Ltd.
- Venus Concept
- Candela Corporation
- Cutera Inc.
- Fotona
- InMode
- Asclepion Laser Technologies GmbH
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology, Application, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Netherland, Saudi Arabia, South Africa, Spain, Thailand, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Aesthetic medical devices are used to treat or enhance a person’s appearance. Various minimally invasive or non-invasive medical aesthetic devices for a variety of treatments, including skin resurfacing, non-invasive lipolysis, excessive fat, cellulite, scars, and others.
The factors driving the growth of aesthetic medical devices are the growing adoption of minimally invasive and non-invasive aesthetic procedures and increasing prevalence of skin disorders & rising awareness of beauty devices.
Risks and complications associated with procedures and stringent safety regulations are expected to restrict the aesthetic medical devices growth during the forecast period.
The aesthetic medical devices majorly consist of the players, such as Alma Lasers; Merz Pharma; Bausch Health Companies Inc.; Lumenis Be Ltd.; Venus Concept; Candela Corporation; Cutera Inc.; Fotona; InMode; Asclepion Laser Technologies GmbH; among others.
The global aesthetic medical devices based on the product are segmented into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, and plasma energy-based. The laser-based is further sub-segmented into Alexandrite, Diode, ND: YAG, CO2, ER: YAG, PDL, and Others. The light-based is further bifurcated into IPL and LED. The electromagnetic energy-based is further segmented into infrared-based, radiofrequency-based, non-laser (hydradermabrasion), and others.
The laser-based segment is likely to hold the largest market share in 2021. However, the electromagnetic energy-based segment is anticipated to register the highest CAGR of 13.3% during the forecast period
The global aesthetic medical devices based on regions is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In 2021, the North American area held the largest market share. However, the Asia Pacific region is estimated to grow at the fastest CAGR of 12.6% during the forecast period
The List of Companies - Aesthetic Medical Devices Market
- Alma Lasers
- Merz Pharma
- Bausch Health Companies Inc.
- Lumenis Be Ltd.
- Venus Concept
- Candela Corporation
- Cutera Inc.
- Fotona
- InMode
- Asclepion Laser Technologies GmbH
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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