Aesthetic Medical Devices Market is expected to reach US$ 44.60 Billion by 2031

Laser-Based Segment to Contribute Significantly to Aesthetic Medical Devices Market Growth During 2023–2031

According to our latest study on "Aesthetic Medical Devices Market Forecast to 2031 – Global Analysis – Technology, Application, and End User," the market was valued at US$ 19.21 billion in 2023 and is expected to reach US$ 44.60 billion by 2031. The market is expected to register a CAGR of 11.1% in 2023–2031. Factors such as the rise in medical tourism worldwide, surge in adoption of minimally invasive and noninvasive aesthetic procedures, increase in the prevalence of skin disorders, and consumer awareness about skincare treatments are contributing to the growing aesthetic medical devices market size. However, the risks and complications associated with procedures and stringent safety regulations impede the aesthetic medical devices market growth.  

All medical devices used for various cosmetic procedures, including plastic surgery, unwanted hair removal, excess fat removal, anti-aging, aesthetic implants, skin tightening, etc., are categorized as medical aesthetic products. With the establishment of the advanced, high-speed internet infrastructure and the growing social media trend, information is becoming more accessible to people; as a result, the population is becoming more aware of aesthetic procedures. A rise in the number of social media users and the sensitization of the masses to medical aesthetic procedures are correlated with improved sales of aesthetic medical devices.

Aesthetic Medical Devices Market

Several parameters such as clinical improvement, risks, potential complications, and downtime after surgery influenced the required aesthetic outcome associated with cosmetic treatments. These parameters can validate plasma skin regeneration (PSR) technology as a new regenerative modality, as it has great potential in dermatology; it also helps treat facial arrhythmias, sun keratosis, seborrheic keratosis, and warts. A few studies have examined the clinical effects of PSR technology on periorbital rejuvenation. With PSR, ~20% and 30% improvement in the tightening of the upper eyelid and the periorbital folds, respectively, were achieved. After six months, ~40% improvement in acne scars on the face was achieved after the single PSR treatment. PSR has also been explored to rejuvenate the skin of the chest, neck, and back of the hands. In addition, it can be used to treat traumatic scars, benign familial pemphigus, and porokeratosis. Thus, technological advancements associated with medical aesthetic devices are likely to bring new aesthetic medical devices market trends in the coming years.

Market Segmentation:

The aesthetic medical devices market analysis has been carried out by considering the following segments: technology, application, and end user. Based on technology, the aesthetic medical devices market is segmented into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, plasma energy-based, EMS, and microwave. The laser-based segment is further categorized into Alexandrite, Diode, ND:YAG, CO₂, Er:YAG, PDL, and others. The light-based segment is further bifurcated into IPL and LED. The laser-based segment held a larger share of the market in 2023. The electromagnetic energy-based segment is anticipated to register the highest CAGR during 2023–2031. Medical lasers use precisely focused light sources for treating or removing tissues. Since lasers can accurately focus on tiny areas, they are used for precise surgical works or cutting through tissue in place of a scalpel. 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 the face and soften marks left by acne and scarring caused by other problems. The commonly used laser-based devices used for aesthetic procedures are divided into ablative and nonablative lasers.

By application, the market is segmented into acne and acne scars, hair removal, facial skin resurfacing, photorejuvenation, skin tightening, feminine rejuvenation, fat reduction and body contouring, tattoos and pigmentation, vascular lesions, cellulite reduction, and others. The acne and acne scars segment held the largest aesthetic medical devices market share in 2023. Acne is a common skin problem characterized by pimples on the face and other body parts. It leaves scars and causes dry skin and itching. The rising concern among individuals for their aesthetic appearance is a major factor boosting interest in scar treatment products.

The aesthetic medical devices market, based on end user, is categorized into dermatology and cosmetic clinics, hospitals and clinics, medical spas, and home use. The dermatology and cosmetic clinics segment held the largest share of the market in 2023. The dermatology and cosmetic clinics segment is anticipated to register the highest CAGR during 2023–2031. The cosmetic procedures carried out in aesthetic clinics and hospitals are likely to become the main contributors to the wellness industry worldwide. Increase in disposable incomes, and changes in lifestyles are among the common factors resulting in increasing visits to these institutes—followed by the growing number of procedures being performed. Cosmetic treatments are known to have a major impact on the confidence and self-image of the people seeking those treatments, and this factor will continue to boost the popularity of various cosmetic enhancement procedures, such as nose jobs and breast enhancements, in the coming years.

Aesthetic Medical Devices Market, by Geography:

The scope of the aesthetic medical devices market report entails North America (US, Canada, and Mexico), Europe (UK, Germany, France, Spain, Italy, Russia, Poland, Switzerland, Belgium, Netherlands, Luxembourg, Portugal, and Rest of Europe), Asia Pacific (China, Japan, India, Thailand, Australia, South Korea, Singapore, Malaysia, Indonesia, Vietnam, Taiwan, Hong Kong, and Rest of Asia-Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, Turkey, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, Chile, and Rest of South & Central America). In terms of revenue, North America dominated the aesthetic medical devices market share in 2023.  

In the US, the number of aesthetic procedures has increased significantly over the last 10 years. Also, technological developments have increased the number of minimally invasive and noninvasive procedures. According to the American Society of Plastic Surgeons, in 2022, 26.2 million surgical and minimally invasive operations were carried out in the US. Additionally, as per ASAPS 2020, 15.6 million cosmetic procedures were recorded in 2020, which included ~2.3 million cosmetic surgical and 13.2 million cosmetic minimally invasive procedures. Intense pulsed light (IPL) treatment is among the top 5 cosmetic minimally invasive procedures, with over 827,000 IPL procedures performed in the country in 2020. The rise in the development of noninvasive and minimally invasive medical aesthetic devices and the exponential rise in aesthetic procedures are driving the market growth. Furthermore, changing beauty standards, increased consciousness about looks, and high disposable income in the country. The expenditures on aesthetic procedures are rising significantly; approximately US$ 20 billion were spent in 2020. Therefore, the rising number of aesthetic procedures and increasing expenditures on healthcare are likely to support the market growth during the forecast period.  

Apart from factors driving the market, the aesthetic medical devices market report emphasizes prominent players operating in the market; these include Alma Lasers, Merz Pharma GmbH & Co KGaA, Bausch Health Companies Inc, Lumenis Be Ltd, Venus Concept Inc, Cutera Inc, Fotona, InMode, Asclepion Laser Technologies GmbH, and Cynosure LLC.

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