The Skin Aesthetic Devices market size is projected to reach US$ 6.78 billion by 2031 from US$ 2.80 billion in 2022. The market is expected to register a CAGR of 11.7% in 2023–2031. Technological advancements in novel skin aesthetics devices are likely to remain a key skin aesthetic devices market trend.
Skin Aesthetic Devices Market Analysis
Skin aesthetic devices are used in cosmetic surgery, an operation that involves enhancing a person’s look. These devices include surgical and non-surgical devices which can be used for medical or non-medical purposes. The growing adoption of non-invasive and minimally invasive procedures, rising prevalence of skin disorders, and growing awareness about beauty devices are the factors responsible for the skin aesthetic devices market growth.
Skin Aesthetic Devices Market Overview
There has been a rise in the adoption non-surgical procedures including botulinum toxin type a, soft tissue fillers, chemical peel, laser hair removal and microdermabrasion. Non-surgical aesthetic procedures offer minimally invasive treatments for various issues such as skin rejuvenation, wrinkle reduction, body contouring, and hair restoration. They require little to no downtime and provide noticeable results. According to the American Society of Plastic Surgeons (ASPS) report published in 2022, 18.80 million non-surgical procedures were performed in 2022 globally, representing an increase of 57.8% in the last four years. As the stigma around aesthetic enhancements fades, more individuals in developing countries are choosing non-surgical options, favouring the skin aesthetic devices market growth.
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Skin Aesthetic Devices Market: Strategic Insights
Market Size Value in US$ 1,797.49 Million in 2019 Market Size Value by US$ 4,332.90 Million by 2027 Growth rate CAGR of 11.7% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Skin Aesthetic Devices Market: Strategic Insights
| Market Size Value in | US$ 1,797.49 Million in 2019 |
| Market Size Value by | US$ 4,332.90 Million by 2027 |
| Growth rate | CAGR of 11.7% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Skin Aesthetic Devices Market Drivers and Opportunities
Rising Awareness and Acceptance for the Aesthetic Surgeries to Favor Market
Rising consumer awareness about the available aesthetic surgical treatments is boosting the growth of the market. The proliferation of internet resources and the growth of social media platforms have been crucial in educating people about the vast array of cosmetic treatments present in the market. The desire for youthful, perfect skin has become prevalent with people actively looking for the newest advancements to help them reach their desired aesthetic outcomes. Additionally, the rise in the aging population bolsters the growth of the market.
Rising Healthcare Expenditure – An Opportunity in the Emerging Markets
The rising spending on cosmetic and rejuvenation procedures to improve aesthetics is rapidly increasing among people from developing economies in Asia Pacific, and South and Central America. With the rising expenditure in healthcare enable professional to adopt advanced technologies for performing cosmetic procedures. Asia Pacific is expected to be the fastest-growing market for medical aesthetics among all major regions, with countries such as China, Japan, India, and South Korea emerging as prime contributors to the market growth, during the forecast period. Rapid urbanization, increasing investments by healthcare providers in improving infrastructure, growing awareness among the population, and widening availability of a range of advanced products and technologies are all contributing to the growth of this market.
Skin Aesthetic Devices Market Report Segmentation Analysis
Key segments that contributed to deriving the skin aesthetic devices market analysis are product type and end user.
- Based on product, the skin aesthetic devices 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 market share in 2023. Further, the nonsurgical skin tightening devices segment is anticipated to grow with the highest CAGR during 2023-2031.
- Based on treatment, the skin aesthetic devices market is segmented into skin tightening, instant rejuvenation, body contouring, laser lipo, and other treatments. The skin tightening segment held the largest skin aesthetic devices market share in 2023.
- The market by end-user is segmented into hospitals and aesthetic clinics, medical spas and beauty salons and home settings. The hospitals and aesthetic clinics segment dominated the market in 2023.
Skin Aesthetic Devices Market Share Analysis by Geography
The geographic scope of the skin aesthetic devices market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market. Factors such as the increasing cosmetic surgeries, rising adoption of minimally invasive aesthetic treatments in home settings, and the growing consumer spending on cosmetics in the region propel regional growth. According to the ISAPS report published in 2022, 609,231 face rejuvenation procedures were done by the plastic surgeons in the US. This rise is boosting the demand for skin aesthetic devices used in the cosmetic surgeries. Moreover, the market will likely experience growth opportunities in Canada and Mexico due to growing medical tourism and increasing product launches. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Skin Aesthetic Devices Market Report Scope
Skin Aesthetic Devices Market News and Recent Developments
The Skin Aesthetic 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 Skin Aesthetic Devices:
- Solta Medical business announced the U.S. launch of the Clear + Brilliant Touch laser, the company's next-generation Clear + Brilliant 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. (Source: Solta Medical, Press Release, 2021)
- Alma unveiled its new Alma Hybrid, designed to enable endless options of ablative, non-ablative, and thermal treatments for skin rejuvenation and scar revision. Alma Hybrid creates a unique synergistic effect by combining the power of CO2 laser, 1570nm laser, and IMPACT for Trans Epidermal Delivery (TED). (Source: Alma Lasers, Company Website, 2020)
Skin Aesthetic Devices Market Report Coverage and Deliverables
The “Skin Aesthetic Devices Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Treatment ; End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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 Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- 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.
- 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.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
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.
- 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.
- 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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