The aesthetic medical devices market size is projected to reach US$ 44.60 billion by 2031 from US$ 19.21 billion in 2023. The market is expected to register a CAGR of 11.1% in 2023–2031. An increase in the need for organic and natural acne treatments is likely to remain key aesthetic medical devices market trends.
Rise in medical tourism worldwide, increase in the prevalence of skin disorders and consumer awareness about skincare treatments, surge in the adoption of minimally invasive and noninvasive aesthetic procedures, rise in spending on medical procedures in developing countries and new product launches & approvals, and technological advancements associated with medical aesthetic devices are a few factors impacting the market growth. The manufacturers are developing user-friendly devices to expand their customer base. Also, the manufacturers are partnering with beauty clinics to expand their presence in the market.
Aesthetic devices are controlled by the FDA based on their intended use and whether they affect the structure or function of the body. The global availability of innovative and fascinating aesthetic medical equipment has resulted in a surge in demand for medical aesthetic treatments in recent years. Aesthetic medical devices are based on technologies such as radiofrequency technology (which is the most widely used and extremely advantageous technology for face wrinkle reduction), ultrasound technology, laser technology, etc. The advancement of high-tech aesthetic medical equipment makes cosmetic treatments more effective and safer, creating a strong demand for physicians, aestheticians, cosmetologists, and other skincare specialists.
Minimally invasive procedures offer patients various benefits, including reduced downtime, lesser scarring, lower risks, limited stress, better patient satisfaction, and quicker recovery times compared to traditional invasive surgeries. This shift toward minimally invasive approaches is driven by several factors, such as technological advancements in aesthetic devices, increasing patient preference for nonsurgical options, and advancements in medical research and techniques. Moreover, the rise of minimally invasive procedures aligns with a broader societal shift toward wellness, natural-looking enhancements, and personalized treatment approaches. Patients seeking aesthetic treatments are often drawn to minimally invasive options that provide subtle enhancements and visible results without the need for extensive surgical interventions. According to the American Society of Plastic Surgeons, 26.2 million surgical and minimally invasive cosmetic procedures were performed in the US in 2022. Also, cosmetic surgery surgeries have increased by 19% compared to 2019. Thus, the surge in the adoption of minimally invasive and noninvasive aesthetic procedures drives the growth of the aesthetic medical market.
Rapid urbanization, increasing investments by healthcare providers in improving infrastructure, growing awareness among the population, and the availability of a wide range of advanced products and technologies in developing economies have contributed to making them the centers of medical tourism. In Saudi Arabia, Russia, Brazil, India, and South Africa, healthcare systems focus on introducing various advanced medical aesthetic technologies into their service portfolios. Patients from developed regions travel to emerging countries for various medical aesthetic procedures. Health facilities, medical spas, and wellness centers increasingly offer a comprehensive range of inexpensive but high-quality medical aesthetic procedures. The spending on cosmetic and rejuvenation procedures to improve aesthetics is rapidly increasing among the global population. In developing countries, there is rising awareness about minimally invasive treatments and acceptance of aesthetic procedures in the population, growing need for an ideal physical appearance, increasing incidence of skin diseases, growing geriatric population, and rising availability and acceptance of technologically advanced medical devices. Also, surging healthcare spending in developing economies in Asia Pacific enables healthcare professionals to adopt advanced technologies for performing cosmetic procedures. Thus, rising spending on medical procedures in developing countries is expected to create growth opportunities for the aesthetic medical devices market during the forecast period.
Key segments that contributed to the derivation of the aesthetic medical devices market analysis are technology, application, and end user.
The geographic scope of the aesthetic medical devices market report is mainly categorized into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the aesthetic medical devices market. The US held the largest share of the market in 2023, owing to the increased number of aesthetic procedures. Also, technological developments have increased the number of minimally invasive and noninvasive procedures in the country. 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. Asia Pacific is anticipated to record the highest CAGR in the market in the coming years.
The regional trends and factors influencing the Aesthetic Medical Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Aesthetic Medical Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 19.21 Billion |
| Market Size by 2031 | US$ 44.60 Billion |
| Global CAGR (2023 - 2031) | 11.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Aesthetic Medical Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Aesthetic Medical Devices Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The aesthetic medical devices market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for aesthetic medical devices and strategies:
(Source: Bausch Health Companies Inc, Press Release, 2024)
(Source: Cutera Inc, Press Release, 2024)
(Source: Venus Concept Inc., Press Release, 2023)
The “Aesthetic Medical Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific is expected to be the fastest growing region in the aesthetic medical devices market. The aesthetic medical devices market in Asia Pacific is expected to register the highest CAGR during the forecast period. The market growth is attributed to factors such as increasing product developments and launches, increasing satisfactory numbers of aesthetic procedures, and rising number of aesthetic surgeries, resulting in a large pool of doctors entering this field. Moreover, rising number of skin rejuvenation procedures, growing awareness of the importance of cosmetic procedures in improving aesthetic appeal, increase in healthcare expenditure, and technological advancements in medical aesthetics products help boost the growth of the aesthetic medical devices market in the region.
The aesthetic medical devices market by distribution channel, is categorized into 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.
Medical aesthetic devices are used to address cosmetic problems such as skin laxity, excess fat, cellulite, scars, moles, wrinkles, unwanted hair, liver spots, spider veins, and skin discoloration. Aesthetic components are used in various cosmetic operations, including plastic surgery, undesirable hair removal, anti-aging, aesthetic implants, skin tightening, and excess fat reduction. Medical aesthetic devices are used to beautify, repair, and improve the body's structure. The FDA may regulate aesthetic devices based on their intended use and whether they affect the body's structure or function.
The aesthetic medical devices market by application form 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.
The aesthetic medical devices market, based on technology, 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 held a larger share of the market in 2023. The electromagnetic energy-based segment is anticipated to register the highest CAGR during 2023–2031.
The aesthetic medical devices market majorly consists of the players such as 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.
US holds the largest market share in aesthetic medical devices market. 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.
The factors that are driving growth of the market are the rise in medical tourism worldwide, surge in adoption of minimally invasive and noninvasive aesthetic procedures, increase in prevalence of skin disorders, and consumer awareness about skincare treatments.