Skin Aesthetic Devices Market to Grow at a CAGR of 11.7% to reach US$ US$4,332.90 million from 2020 to 2027

Skin Aesthetic Devices Market to 2027 - Global Analysis and Forecast by Product (Laser Skin Resurfacing Devices, Nonsurgical Skin Tightening Devices, Micro-Needling Products, Light Therapy Devices); Treatment (Skin Tightening, Instant Rejuvenation, Body Contouring, Laser Lipo, Other Treatments); End User (Hospitals and Aesthetic Clinics, Medical Spas and Beauty Salons and Home Settings), and Geography

Publication Month : Mar 2020

  • Report Code : TIPRE00005399
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 209
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The Skin Aesthetic Devices in healthcare market was valued at US$ 1,797.49 million in 2019 and it is projected to reach US$ 4,332.90 million by 2027; it is expected to grow at a CAGR of 11.7% from 2020 to 2027.

Skin aesthetic is a term used for specialists that focus on improving cosmetic appearance through the treatment of conditions like scars, skin laxity, wrinkles, skin discoloration, and others. The skin aesthetic is done by using several device-based therapies, such as in tightening and non-invasive fat reduction in the aesthetic field. In addition, the demand for non-invasive aesthetic procedures is leading to the exponential growth of aesthetic medical devices. The growth of the Skin Aesthetic Devices in healthcare market is attributed to the increasing preference towards minimally invasive surgical procedures, increasing preference towards cosmetic surgeries and growth in population aged between 30 to 65 years. However, clinical risks and complications associated with aesthetic procedures is expected to restraint the growth of the market during the forecast years.

The Skin Aesthetic Devices in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

Lucrative Regions for Skin Aesthetic Devices in Healthcare Market



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Market Insights

Growing Applications of Skin Aesthetic Devices in Healthcare to Drive Skin Aesthetic Devices in Healthcare Market Growth

In recent years, the adoption of minimally invasive procedures has increased worldwide. Minimally invasive surgery offers patients several benefits such as smaller incisions, faster recovery times, and reduced pain and scarring. Moreover it has been proved that minimally invasive surgery provides a higher accuracy rate compared to traditional open surgery. According to the American Society of Plastic Surgeons, the number of minimally invasive cosmetic procedures has increased nearly 200 percent since 2000, with no indication of reduction. Additionally, in 2018, almost million people underwent surgical and minimally invasive cosmetic procedures in the US. This total means that there were nearly a quarter of a million more procedures in 2018 than in 2017. Cosmetic surgical procedures have been on the rise in the US over the past five years. Furthermore, ASPS member plastic surgeons performed about 12,000 more liposuction procedures and 13,000 more breast augmentations in 2018.

Age is a significant factor in modifying specific needs when it comes to medical aesthetic procedures. Adult patients more often request minimally invasive methods of all ages. Moreover, people of age 35–55 years also prefer minimally invasive aesthetic procedure over surgery. However, plastic surgeons are also becoming more willing to explore them, and minimally invasive cosmetic and aesthetic procedures are now an established interdisciplinary topic. The rise of nonsurgical technologies and new treatment options have made aesthetics more accessible to a wider audience, and patients in their twenties and thirties are certainly helping fuel that trend. In addition, advances in technology and research are on track with consumer demand, and the Food and Drug Administration is set to approve at least three new, cutting-edge cosmetic procedures in 2019.

Collectively, the benefits, as well as the accuracy being offered by minimally invasive procedures over traditional surgery, are expected to drive the growth of the market during the review period.

Among the 15.9 million cosmetic minimally-invasive procedures performed in 2018, the top 5 were:

  • Botulinum Toxin Type A (7.44 million procedures, up 3 percent from 2017)
  • Soft Tissue Fillers (2.68 million procedures, up 2 percent from 2017)
  • Chemical Peel (1.38 million procedures, up 1 percent since 2017)
  • Laser hair removal (1.1 million procedures, down 1 percent from 2017)

Microdermabrasion (709,413 procedures, down 4% from 2017)

Cosmetic surgery, also known as aesthetic surgery, is an operation that improves a person’s look. Such operations include breast augmentation, liposuction, rhinoplasty, blepharoplasty or eyelid surgery, and rhytidectomy or facelift.

The procedures in 2017 were breast augmentation, followed by liposuction and eyelid surgery. 

The primary purpose of cosmetic surgery is to enhance an individuals’ appearance. Size acceptance, body positivity, and fat activism are now part of the cultural lexicon. Yet, according to data from the American(ASPS), nearly a quarter-million more cosmetic procedures were performed in 2018 than in 2017.

According to an international study on cosmetic procedures, total surgical procedures increased by 5.4%in 2018. The US witnesses maximum number of medical surgeons, with 7,009 plastic surgeons. Additionally, the number of people opting for cosmetic procedures has risen steadily over the past five years. They are thereby driving the market for Skin Aesthetic Devices during the forecast period.

Of the nearly 1.8 million cosmetic surgical procedures performed in 2017, the top 5 were:

  • Breast augmentation(300,378 procedures, up 3 percent from 2016)
  • Liposuction(246,354 procedures, up 5 percent from 2016)
  • Nose reshaping(218,924 procedures, down 2 percent from 2016)
  • Eyelid surgery(209,571 procedures, approximately the same as 2016)

Tummy tuck(129,753 procedures, up 2 percent from 2016)

Growing population between the age of 30 and 65 years is estimated to increase the number of target consumers with signs of aging, such as lack of skin elasticity, wrinkles, and dark spots. According to the Central Intelligence Agency, in 2018, around 39.9% of the total German population was aged between 25 and 54 years, and approximately 15.0% of the population was aged between 55 and 65 years. This factor is anticipated to drive the demand for skin aesthetics devices in the coming years. According to WHO, between 2015 and 2030, the number of people in the world aged 60 years or over is projected to grow by 56%, with the count of 901 million–1.4 billion. and by 2050.

According to the American Society of Plastic Surgeons (ASPS), the major cosmetic procedures are opted by the population with the age of 40–54years, which makes up to 49% of the total Cosmetic Surgery accounting of 7.7 million, as of 2017.Population with the age of 55 years and above makeup to 4.1 million, opt for cosmetic procedures, 30–39years old, makeup 2.8 million, opt for cosmetic procedures, 20–29years old makeup 827,000, opt for cosmetic procedures, 13–19years old, make up the least number of cosmetic procedures only 1% of the total. Some of the most common procedures for teens were nose reshaping, male breast reduction, ear surgery, laser hair removal, and laser skin resurfacing.

Product-Based Insights

In terms of product, the Skin Aesthetic Devices in healthcare market is segmented into laser skin resurfacing devices, nonsurgical skin tightening devices, micro-needling products, and light therapy devices. The laser skin resurfacing devices segment held the largest share of the market in 2019, whereas the non-surgical skin tightening devices segment is anticipated to register the highest CAGR of 12.4% in the market during the forecast period.

Skin Aesthetic Devices in Healthcare Market, by Product – 2019 and 2027

Skin Aesthetic Devices in Healthcare Market, by Product – 2019 and 2027
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Treatment-Based Insights

Based on treatment, the Skin Aesthetic Devices in healthcare market is segmented into skin tightening, instant rejuvenation, body contouring, laser Lipo and other treatments. The skin tightening segment held the largest share of the market in 2019, whereas the body contouring segment is estimated to register the highest CAGR of 12.4% in the market during the forecast period.

End User-Based Insights

In terms of end user, the Skin Aesthetic Devices in healthcare market is segmented into hospitals and aesthetic clinics, medical spas and beauty salons and home settings. The hospitals and aesthetic clinics segment held the largest share of the market in 2019, whereas the medical spas and beauty salons segment is estimated to register the highest CAGR of 12.2% in the market during the forecast period.


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Skin Aesthetic Devices Market: Strategic Insights

skin-aesthetic-devices-market
Market Size Value inUS$ 1,797.49 Million in 2019
Market Size Value byUS$ 4,332.90 Million by 2027
Growth rateCAGR of 11.7% from 2020-2027
Forecast Period2020-2027
Base Year2020
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The Skin Aesthetic Devices in healthcare market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.

Skin Aesthetic Devices in Healthcare Market – by Product

  • Laser Skin Resurfacing Devices
  • Nonsurgical Skin Tightening Devices
  • Micro-Needling Products
  • Light Therapy Devices

Skin Aesthetic Devices in Healthcare Market – by Treatment

  • Skin Tightening
  • Instant Rejuvenation
  • Body Contouring
  • Laser Lipo
  • Other Treatments

Skin Aesthetic Devices in Healthcare Market – by End User

  • Hospitals and Aesthetic Clinics
  • Medical Spas and Beauty Salons
  • Home Settings

Skin Aesthetic Devices in Healthcare Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of SCAM

Company Profiles

  • Cutera
  • Allergan plc
  • Cynosure
  • Sisram Med (Alma lasers)
  • Venus Concept
  • Fotona d.o.o.
  • Lumenis Ltd.
  • Merz Pharma GmbH & Co. KGaA
  • Candela Laser Corporation
  • Sciton, Inc
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product ; Treatment ; End User , and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoAPAC, RoE, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

The List of Companies – Global Skin Aesthetic Devices Market

  1. LUMENIS
  2. Cutera Inc.
  3. Merz Pharma
  4. Candela Corporation
  5. Sciton, Inc.
  6. Fotona
  7. Venus Concept
  8. Allergan plc.
  9. Cynosure
  10. Alma Lasers

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. 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.

  1. 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.

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Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

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.

  1. 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.

  1. 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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