Aesthetic Devices Market

Global Aesthetic Devices Market is valued at USD 10.78 Billion in 2022 and it is expected to reach USD 22.33 Billion by 2029 with a CAGR of 10.97% over the forecast period.

Global Aesthetic Devices Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2029: The market will expand due to the growing demand for non-invasive and minimally invasive procedures, increasing prevalence of skin disorders, and increasing awareness about aesthetic procedures and their benefits.

Scope of Global Aesthetic Devices Market Report:

Aesthetic devices are medical devices designed to improve the physical appearance of an individual by altering their skin or body. These devices use advanced technologies and techniques to help users achieve their desired aesthetic results. The use of aesthetic devices dates back to ancient times when people used natural remedies and treatments to improve their appearance. In the early 1900s, the first cosmetic surgeries were performed, and in the 1960s, the first laser hair removal device was introduced. Since then, the field of aesthetic devices has grown rapidly, with the development of more advanced technologies and techniques.

The aesthetic devices are used in various applications, including, skin rejuvenation and resurfacing, hair removal and transplantation, body contouring and shaping, anti-aging treatments, tattoo removal, and scar reduction. The primary end-user of aesthetic devices are hospitals and clinics, medical spas and wellness centers, beauty salons, parlors, and home users.

COVID-19 Impact:

The COVID-19 pandemic has had a significant impact on the aesthetic devices market, both positive and negative. Some positive impacts on the aesthetic devices market are increased demand for home-use aesthetic devices and expansion of telemedicine and virtual consultations. The pandemic has led to an increase in telemedicine and virtual consultations, enabling doctors and patients to communicate and evaluate aesthetic concerns remotely, leading to increased demand for devices that facilitate telemedicine.

However, the market has been negatively affected by the pandemic has caused supply chain disruptions, affecting the production, distribution, and delivery of aesthetic devices. With many clinics and medical spas temporarily closed or operating at reduced capacity, there has been a reduction in demand for in-office aesthetic treatments.   

As of February 22, 2023, the World Health Organization (WHO) reported a total confirmed cases of 441,357,974 and a total death of 5,984,186. The impact of the COVID-19 pandemic on the aesthetic devices market is likely to continue evolving as the situation evolves, with factors such as vaccination rates and the emergence of new variants playing a role in shaping the market's future.

Key Players of Global Aesthetic Devices Market Report:

Some major key players for the global Aesthetic Devices market report cover prominent players like -

• Allergan
• Alma Lasers
• Bausch Health Companies
• Cutera
• Cynosure
• Galderma
• Hologic'
• Lumenis
• Merz Pharma
• Sientra
• Sinclair Pharma
• Syneron Candela
• Venus Concept
• Zimmer Biomet
• BTL Industries
• Deka Laser Technologies
• Fotona
• InMode
• Lutronic
• Medical System
• Mentor Worldwide LLC
• Nestlé Skin Health
• Sciton
• Solta Medical
• Strata Skin Sciences
• Thermi
• Viora
• Zimmer Medizin Systeme
• others

Global Aesthetic Devices Market Segmentation: -

By Device Type:

• Energy-based Aesthetic Device
• Laser-based Aesthetic Device
• Radiofrequency (RF)-based Aesthetic Device
• Light-based Aesthetic Device
• Ultrasound Aesthetic Device
• Non-energy-based Aesthetic Device
• Botulinum Toxin
• Dermal Fillers and Aesthetic Threads
• Microdermabrasion
• Implants
• Facial Implants
• Breast Implants
• Other Implants

By Application:

• Facial Skin Resurfacing
• Photorejuvenation
• Skin Tightening
• Body Contouring and Fat Reduction
• Cellulite Reduction
• Hair Removal
• Tattoos and Pigmentation          
• Other

By End-User:

• Hospitals
• Dermatology Clinics
• Medical spas and wellness centers
• Beauty salons and parlors
• Home users

By Distribution Channel:

• Direct sales
• E-commerce
• Retail pharmacies

By Regional & Country Level:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Revenue Generation Model:

The revenue generation model for the aesthetic devices market involves the sale of devices and the provision of services, such as training, maintenance, and repair. Companies also generate revenue through licensing and partnerships.

Supply Chain Analysis:

The supply chain model for aesthetic devices involves several key players, including manufacturers, distributors, wholesalers, and retailers. Manufacturers design and produce the devices, which are then sold to distributors or wholesalers who distribute the products to retailers or end-users.

Value Chain Analysis:

The value chain model for the aesthetic devices market includes several stages, including research and development, manufacturing, distribution, marketing, sales, and after-sales services. Each stage adds value to the product and contributes to the success of the company.

Market Drivers:

Growing demand for non-invasive and minimally invasive procedures: The demand for non-invasive and minimally invasive aesthetic procedures is increasing, driven by factors such as the desire for quicker recovery times and less scarring. For example, According to the American Society of Plastic Surgeons (ASPS), there were over 18 million minimally invasive cosmetic procedures performed in the US in 2019, accounting for 92% of all cosmetic procedures performed in that year.

The COVID-19 pandemic has also impacted the demand for minimally invasive procedures in the US, with many people opting for treatments that require less downtime and involve fewer visits to medical facilities. According to the ASPS, there was a 13% increase in demand for minimally invasive cosmetic procedures in the first half of 2021 compared to the same period in 2019.

Increasing prevalence of skin disorders: The rising prevalence of skin disorders, such as acne and rosacea, is driving demand for aesthetic devices used in the treatment of these conditions. For example, Acne is a very common skin condition, affecting up to 50 million people in the United States alone, according to the CDC. Globally, it is estimated that acne affects 85% of people at some point in their lives, according to the WHO.

Rosacea is a chronic skin condition that affects an estimated 16 million people in the United States, according to the National Rosacea Society. Globally, the prevalence of rosacea varies widely, with estimates ranging from 0.5% to 22%.

Market Restraints:

High cost: Many aesthetic devices and treatments are expensive, making them inaccessible to a large portion of the population. For example, a single session of laser hair removal can cost between $200 and $500, and multiple sessions are usually required for optimal results. For example, according to the American Society of Plastic Surgeons, the number of skin tightening procedures performed in the United States increased by 4% from 2019 to 2020, with over 96,000 procedures performed in 2020. The average cost of non-surgical skin tightening in the United States was $1,903 in 2020, while the average cost of surgical skin tightening was $4,891.

Side effects and risks: Aesthetic devices and treatments can have potential side effects and risks, such as burns, scarring, and hyperpigmentation. These risks can deter patients from seeking treatment or can result in legal liability for device manufacturers or healthcare providers. For example, a lawsuit was filed against a popular laser hair removal chain in 2019 after several customers experienced burns and scars. In a survey conducted by the American Society for Dermatologic Surgery, about 24% of respondents reported experiencing an adverse event following a cosmetic treatment, with the most common side effects including bruising, swelling, and redness.

Opportunity factors:

The global aesthetic devices market is expected to grow significantly in the coming years, driven by several factors, including increasing demand for non-invasive and minimally invasive procedures, growing aging population, technological advancements in the field of aesthetic devices, rising disposable income, increasing awareness about aesthetic procedures and their benefits.    

Overall, the aesthetic devices market presents significant opportunities for companies operating in this space, as demand for these products and services continues to increase.

Market Trends:

Product and Technology Trends:

Non-invasive and minimally invasive devices are increasingly popular, as they offer faster recovery times and lower risk of complications compared to traditional surgical procedures.

Multi-functional devices that offer a range of aesthetic treatments are becoming more common, as they can offer greater flexibility and convenience for both providers and patients.

Advances in laser technology, such as fractional laser resurfacing and picosecond lasers, are driving growth in the market, as they offer improved precision and effectiveness for a range of aesthetic treatments.

Customer Trends:

 Consumers are increasingly seeking out aesthetic procedures as a way to improve their self-confidence and achieve a more youthful appearance. The millennial generation is driving growth in the market, as they are more likely to seek out non-invasive and preventative treatments to maintain their appearance. Men are becoming an increasingly important demographic in the aesthetic devices market, as they are becoming more open to seeking out cosmetic treatments to improve their appearance.

Market Competition Nature:

The aesthetic devices market is highly competitive, with a range of global and regional players vying for market share.

Key players in the market include Allergan, Alma Lasers, Cynosure, Hologic, Lumenis, Syneron Medical, and Venus Concept.

To stay competitive, market players are investing in research and development to create new and innovative products, as well as expanding their global reach through acquisitions and partnerships.

Strategies: Key market players have pursued a range of strategies to build their market position, such as expanding their product portfolios through acquisitions and partnerships, developing new technologies, and expanding their geographic reach.

For example, in 2018, Hologic acquired medical aesthetics company Cynosure to expand its product portfolio and gain a stronger foothold in the global aesthetic devices market.

In 2019, Venus Concept announced a partnership with Allergan to expand its global reach and distribution network.

Going forward, market players are likely to continue investing in research and development to create new and innovative products, as well as expand their geographic reach through acquisitions and partnerships.

Geography Analysis:

North America: North America is the largest market for aesthetic devices, accounting for a significant share of the global market. The North American aesthetic devices market is expected to continue to grow, driven by ongoing advancements in technology, rising demand for non-invasive procedures, and increasing awareness of the benefits of aesthetic treatments among consumers.

For example, according to the American Society of Plastic Surgeons (ASPS), minimally invasive procedures accounted for 85% of all cosmetic procedures in the United States in 2020, with surgical procedures making up the remaining 15%.

Europe: Europe is a significant market for aesthetic devices, with several countries in the region accounting for a large share of the global market. The region is home to several key players in the aesthetic devices market, including Alma Lasers, Lumenis, Cynosure, and Fotona, among others. The European aesthetic devices market is driven by several factors rising demand for non-invasive and minimally invasive procedures, Increasing awareness of the benefits of aesthetic treatments, driven by social media influence, celebrity endorsements, and increasing consumer education.

For example, According to a report by the International Society of Aesthetic Plastic Surgery (ISAPS), Europe accounted for approximately 21.5% of all non-surgical aesthetic procedures performed worldwide in 2020, with a total of 2,447,505 procedures. The most popular non-surgical procedures in Europe were botulinum toxin injections (1,115,360 procedures), followed by hyaluronic acid injections (1,029,876 procedures). This indicates a significant and growing demand for non-surgical aesthetic treatments in the region, driven in part by increasing consumer awareness and education.