Medical Aesthetic Devices Market Size (2024 - 2029)

Medical Aesthetic Devices Market Analysis

The Medical Aesthetic Devices Market size is estimated at USD 27.09 billion in 2024, and is expected to reach USD 44.27 billion by 2029, growing at a CAGR of 10.32% during the forecast period (2024-2029).

Major factors such as the increasing obese population, awareness regarding aesthetic procedures, rising adoption of minimally invasive devices, and technological advancement in aesthetic devices are propelling the growth of the market.

The increasing volume of aesthetic procedures worldwide also contributes to the market's growth. For instance, according to the International Society of Aesthetic Plastic Surgery (ISAPS) survey released in September 2023, around 14.9 million cosmetic surgical procedures and 18.8 million non-surgical cosmetic procedures were performed globally in 2022, an overall 11.2% increase from the previous year. Furthermore, in March 2023, according to the British Association of Aesthetic Plastic Surgeons (BAAPS), around 31,057 cosmetic surgical procedures were performed in the United Kingdom in 2022, an increase of 102% from the previous year. The increasing number of aesthetic procedures requires medical aesthetic devices. This creates the need for medical aesthetic devices, driving market growth.

The growing adoption of minimally invasive and non-invasive aesthetic procedures drives market growth. For instance, as per an article published in the Journal of Cureus in June 2023, awareness about dermal fillers increased among Saudi Arabia's population due to communication improvement. Physicians raise awareness by explaining to the patients how the procedure is performed, time involved in the procedure, the detection of adverse effcets and risks, and the influence of social media providing significant information about the procedures. With the advent of the internet, information became accessible to everyone, and people started becoming more aware of aesthetic procedures. Thus, the rise in awareness about medical aesthetic procedures will likely boost the sales of medical aesthetic devices, contributing to market growth.

The approval of products by various regulatory authorities is also boosting market growth. For instance, in June 2022, Cynosure launched the most advanced version of the PicoSure platform, the PicoSure Pro device, approved by the US FDA. The device is integrated with 755 nm picosecond lasers. Additionally, in January 2022, Lumenis received approval from Conformité Européenne (CE) for launching the Splendor X device in the United Kingdom, which can be used for wrinkles, vascular therapies, pigmented lesions, and hair removal. Thus, such product launches are expected to boost the adoption of medical aesthetic devices and contribute to market growth.

Thus, owing to the above-mentioned factors, such as increasing cosmetic procedures, rising awareness among the population, and adoption of minimally invasive procedures, the market is expected to grow during the forecast period. However, social stigma concerns related to aesthetic procedures and poor reimbursement scenarios for aesthetic procedures may hinder the market's growth.

Medical Aesthetic Devices Industry Segmentation

As per the scope of the report, medical aesthetic devices refer to all medical devices that are used for various cosmetic procedures, which include plastic surgery, unwanted hair removal, excess fat removal, anti-aging, aesthetic implants, skin tightening, etc., that are used for beautification, correction, and improvement of the body.

The medical aesthetic devices market is segmented by type of device, application, end user, and geography. By type of device, the market is segmented into energy-based aesthetic devices and non-energy-based aesthetic devices. For energy-based aesthetic devices, the market is sub-segmented into laser-based aesthetic devices, radiofrequency (RF)-based, light-based, and ultrasound aesthetic devices. By non-energy-based aesthetic devices, the market is sub-segmented into botulinum toxin, dermal fillers and aesthetic threads, chemical peels, microdermabrasion, implants, and other aesthetic devices. By implants, the market is sub-segmented into facial implants, breast implants, and other implants. By application, the market is segmented into skin resurfacing and tightening, body contouring and cellulite reduction, hair removal, facial aesthetic procedures, breast augmentation, and other applications. By end user, the market is segmented into hospitals, clinics, and home settings. For each segment, the market size is provided in terms of value (USD).