Medical Aesthetic Devices Market Trends 2023: Strong Growth at a CAGR of 10.7% and Revenue to Hit USD 38.91 billion by 2030

According to the report published by Allied Market Research, the global medical aesthetic devices market was estimated at $13.52 billion in 2020 and is expected to hit $38.91 billion by 2030, registering a CAGR of 10.7% from 2021 to 2030. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Market Growth: The medical aesthetic devices market has been experiencing significant growth in recent years and is expected to continue expanding. Factors driving this growth include technological advancements, increasing awareness and demand for aesthetic procedures, and the aging population seeking non-surgical treatments.

Diverse Range of Devices: The market offers a diverse range of medical aesthetic devices designed for various procedures and treatments. These devices can be categorized into several types, including laser-based devices, energy-based devices, body contouring devices, facial aesthetic devices, and others.

Non-Invasive and Minimally Invasive Procedures: Medical aesthetic devices cater to the growing demand for non-invasive and minimally invasive procedures. Patients are increasingly seeking treatments that provide noticeable results with minimal downtime and fewer risks compared to traditional surgical options. Devices such as laser systems, radiofrequency devices, and ultrasound devices are commonly used for non-invasive and minimally invasive treatments.

Rising Popularity of Combination Treatments: Combination treatments that utilize multiple medical aesthetic devices or procedures are gaining popularity. These treatments offer enhanced results by targeting multiple concerns simultaneously or addressing different layers of tissue. For example, a combination of laser resurfacing, radiofrequency, and injectables may be used to achieve optimal skin rejuvenation.

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Market Drivers:

Technological Advancements: Continuous advancements in technology have led to the development of innovative medical aesthetic devices. New technologies such as laser systems, radiofrequency devices, ultrasound devices, and intense pulsed light (IPL) systems have improved treatment outcomes and patient experience. Advancements like improved safety profiles, shorter treatment times, and enhanced efficacy attract both patients and practitioners to adopt these devices.

Growing Aging Population: The global population is aging, leading to an increased demand for anti-aging and aesthetic treatments. As individuals age, they may experience changes in their skin, such as wrinkles, sagging, and pigmentation issues. Medical aesthetic devices offer non-surgical solutions to address these concerns, making them popular among the aging population seeking rejuvenation treatments.

Market Segmentation:

By Product Type:

By Procedure Type:

By End-User:

By Geography:

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Regional Growth Dynamics:

North America dominated in 2020, garnering nearly two-fifths of the global medical aesthetic devices market, owing to increased adoption of medial aesthetics, enhanced technological advancements, and development of novel products by the key players in the province. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 11.7% throughout the forecast period. Improvement in R&D facilities, increase in medical tourism, and rise in awareness about medical aesthetics drive the market growth in the region.

Competitive Landscape:

Recent developments:

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.