Global Medical Aesthetic Devices Market to Surpass US$ 36,371.4 Million by 2030, Says Coherent Market Insights (CMI)
Burlingame, Jan. 23, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Medical Aesthetic Devices Market is estimated to be valued at US$ 14,858.6 Million in 2022 and is expected to exhibit a CAGR of 11.8% during the forecast period (2022-2030).
Analysts Views on Global Medical Aesthetic Devices Market:
Medical aesthetics is the use of various surgical and non-surgical treatments to improve the appearance of the skin on the face. It entails combining medical and cosmetic treatments. Scar management, hair loss, skin discoloration, excess fat, wrinkles, and hair transplant are all treated with cosmetic devices. The rising prevalence of congenital teeth, rising incidences of facial deformities, technological advancements in aesthetic devices, and an increase in the number of cosmetic surgeries are the major factors which will propel the global aesthetic devices market growth over the forecast period.
Global Medical Aesthetic Devices Market Driver
The increasing number of aesthetic procedures globally is expected to propel the growth of global medical aesthetic devices market over the forecast period. For instance, according to the data published by The Aesthetic Society in 2021, Overall, aesthetic body procedures such as abdominoplasty, buttock augmentation, and liposuction increased by 63% since 2020 in U.S. Breast procedures such as breast augmentation, augmentation/ breast lift and breast lift/reductions were up 48%. Specialized face procedures such as brow lifts and face lifts increased 54% last year (2019) in U.S.
Global Medical Aesthetic Devices Market Restraint
The growth of the global medical aesthetic devices market is anticipated to be hampered by the high cost of aesthetic procedures and poor reimbursement scenario. For instance, the cost of Breast augmentation (Augmentation mammaplasty) is US $871,883,395, Buttock lift price is US $15,745,648 and Facelift (Rhytidectomy) price is US$ 1,876,157,413. Moreover, according to data published by Aesthetic Plastic Surgery Statistics 2021, on average, the cost of a surgical procedure increased 6% in 2021, and the cost of a non-surgical procedure increased 1%.
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Key Trends and Analysis of the Global Medical Aesthetic Devices Market:
The adoption of robot-based surgery is the key trend gaining popularity in the medical aesthetics devices market. For instance, in November 2021, Smith-Nephew, a U.K.-based manufacturing company that operates in medical aesthetics, launched CORI, a surgical tool that uses robotic technology. It is a cutting-edge handheld robotic system which is used in total and partial knee arthroplasty. It is the first technology that puts surgeon in the digital operating room, and is a small mobile solution that combines an advanced robotic sculpting tool with a 3-D intra-operative imaging system. Patients will experience less pain and require fewer revisions, resulting in higher post-surgery satisfaction.
Global Medical Aesthetic Devices Market Cross Sectional Analysis:
Energy-based Aesthetic Device segment is expected to exhibit largest CAGR in Asia Pacific region over the forecast period due to increasing inorganic growth strategies by market players for energy-based aesthetic devices. For instance, in March 2022, Cynosure LLC is a developer and manufacturer of a broad array of light-based aesthetic and medical treatment systems, announced that Cynosure KK (subsidiary of Cynosure LLC) had entered into a distribution partnership with Jeisys Medical KK (subsidiary of Jeisys Medical Inc.) is a medical device manufacturer produces high-end products for plastic surgeons, dermatologist, physicians, and healthcare professionals., in Japan. Under the terms of the agreement, Jeisys Medical had exclusive distribution rights for key premier products within Cynosure's energy-based laser portfolio in Japan.
Recent Developments:
In Novemberr 2022, Reveal Lasers LLC, a subsidiary of Reveal Lasers LTD, announced their marketing and distribution agreement with Advalight, global manufacturers of the ADVATx device, the world's only medical, solid-state laser producing both 589nm and 1319nm wavelengths. ADVATx is a solid state yellow laser with 589nm and the first 1319nm infrared laser to target the oxyhaemoglobin and depressed scars and pores. For Advalight, partnering with Reveal Lasers provides a proven and growing distribution team in North America to further launch ADVATx. This aligns with Advalight's mission to grow the brand globally.
In Octoberr 2022, Aesthetics Biomedical Inc. is an aesthetic company had received clearance from the U.S. Food and Drug Administration for its Vivace RF micro-needling device. Vivace RF micro-needling device is designed to give patients visibly brighter, more radiant skin. This minimally-invasive treatment stimulates the natural production of collagen and has been shown by physicians, when using the 1MHz frequency, to be effective in alleviating facial wrinkles, fine lines, improving skin texture, tightening and toning the face and neck, for an overall glow.
In March 2022, Crown Laboratories, a leading, fully integrated global skincare company, had finalized an agreement with Eclipse, a medical technology company, announced to acquire its global, aesthetics-focused assets. The acquisition expands Crown's aesthetics' product portfolio and enhances Crown's overall value proposition as a global leader in science-based aesthetic skincare solutions.
In November 2021, NanoPass Technologies develops and commercialize of nearly painless intradermal delivery solutions, and Aesthetic Management Partners (AMP) offers safe, efficacious FDA-approved devices for Aesthetic Practices, had recently signed an agreement to begin commercializing NanoPasss MicronJet 600 intradermal delivery device in the U.S. NanoPasss MicronJet 600 is an intradermal injection device with three 0.6mm, hollow, pyramid-shaped, microneedles. It is produced by NanoPass using MEMS technology from silicon crystal.
Key Market Takeaways:
The Global Medical Aesthetic Devices Market is expected to exhibit a CAGR of 11.8% during the forecast period. Increasing the number of cosmetic procedures globally is expected to drive the growth of Global Medical Aesthetic Devices Market. For instance, according to data published by American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) in February 2022, the total number of surgical and non-surgical facial plastic surgery treatments is increasing dramatically, an estimated 1.4 million surgical and non-surgical procedures were performed in the 2021, with plastic surgeons performing 600 more procedures than in 2020, a 40% increase in U.S.
Among type of devices, Non-energy-based aesthetic device segment is dominant due to the increase product approvals by regulatory bodies which is expected to drive the segment growth over the forecast period. For instance, in June 2020, Allergan Aesthetics, an AbbVie company, announced the U.S. FDA approval of JUVDERM VOLUMA XC for the augmentation of the chin area to improve the chin profile in adults over the age of 21. The JUVDERM Collection of Fillers, has the most comprehensive portfolio of specifically tailored treatment options, and this latest approval is their fifth in the U.S.
On the basis of region, North America is expected to hold a dominant position over the forecast period, owing to the increasing product launches in the region. For instance, March 2021, Bausch Health Companies Inc., a diversified pharmaceutical company, and Solta Medical business, a leader in the medical aesthetics market, announced the U.S. launch of the Clear + Brilliant Touch laser. The Clear + Brilliant Touch laser delivers a customized and more comprehensive treatment protocol by providing patients of all ages and skin types, the benefits of two wavelengths.
Competitive Landscape:
Key players operating in the global medical aesthetic devices market include Venus Concept Inc., El.En. (Asclepion Laser Technologies), Sciton Inc., Lumenis Inc., Cynosure, Inc., Cutera Inc., Syneron Candela, Johnson & Johnson, Galderma, Sisram Med (Alma Lasers), Abbive (Allergan Inc.), and Bausch Health Companies Inc. (Solta Medical Inc.), among others
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Market Segmentation:
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Global Medical Aesthetic Devices Market,By Type of Device:
- Energy-based Aesthetic Device
- Non-energy-based Aesthetic Device
-
Global Medical Aesthetic Devices Market,By Application:
- Skin Resurfacing and Tightening
- Body Contouring and Cellulite Reduction
- Hair Removal
- Facial Aesthetic Procedures
- Breast Augmentation
- Other Applications
-
Global Medical Aesthetic Devices Market,By End User:
- Hospitals
- Clinics
- Home Settings
-
Global Medical Aesthetic Devices Market,By Geography:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
CONTACT: Mr. Shah Senior Client Partner Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com
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