The market size for Aesthetic Medical Devices is estimated to be around £13.73 billion in 2024. It is projected to exhibit a compound annual growth rate (CAGR) of 3.20% over the forecast period, with an estimated market size of £18.82 billion by 2034.
Social media, Western beauty standards, and the rise of preventive care culture have created a desire for aesthetic appearances and beauty ideals. This has led to an increase in demand for cosmetic procedures and thus aesthetic medical devices. The expansion of the global beauty and wellness industry is another factor contributing to the growth of the aesthetic medical device market.
The growth of the aesthetic medical device market is also driven by the expansion of disposable income levels globally, particularly in emerging economies. This has enabled more individuals to afford aesthetic treatments. Advancements in technology have also played a crucial role in driving the growth of the market. Aesthetic clinics, medical spas, and beauty centres are experiencing rapid growth worldwide, further augmenting the market growth for these devices.
Dermatologists, plastic surgeons, cosmetic surgeons, aestheticians, and other healthcare practitioners are increasingly adopting aesthetic medical devices to offer aesthetic treatments. Rising consumer awareness and acceptance of aesthetic enhancements, coupled with the widespread availability of information through the Internet and social media platforms, are also boosting the demand for aesthetic medical devices.
“Companies in the aesthetic medical device market are expected to broaden their product portfolio to encompass a diverse range of treatment modalities, such as body contouring, skin tightening, hair removal, facial rejuvenation, etc. This will enable companies to cater to a wider patient demographic and provide healthcare professionals with versatile tools to address a multitude of cosmetic concerns effectively”.
Cosmetic Surgery Demand Will Increase Due to Technological Advancements
The worldwide aesthetic medical devices market is projected to be driven by greater use of less invasive treatments, higher awareness of cosmetic operations, and the world’s rising obesity rate. Furthermore, technological advancements in the medical profession are expected to fuel demand for medical aesthetic operations in the coming years.
People now have easy access to information thanks to the rise in popularity of social media and the internet. People are becoming more aware of the availability of cosmetic procedures as information becomes more readily available. With an increase in the number of social media users and more awareness, the worldwide aesthetic medical devices market is expected to develop in the next few years.
Key Takeaways from the Aesthetic Medical Device Market Study
- Non-Energy Based Devices: This segment dominates the global aesthetic medical device market with a share of 89.99%.
- Body Contouring and Cellulite Reduction: This application leads the aesthetic medical device market with a share of 11.94% in 2024.
- United Kingdom: The aesthetic medical device market in the UK is anticipated to grow at a CAGR of 2.00% through 2034.
- India: The aesthetic medical device market in India is estimated to rise at a 4.50% CAGR through 2034.
- China: The aesthetic medical device market in China has the potential to increase at 6.20% CAGR through 2034.
Competitive Landscape of the Aesthetic Medical Device Market
The global market for aesthetic medical devices is dominated by companies with a strong foothold in the industry, such as Merz Pharma, Bausch Health Companies Inc. and Venus Concept. These companies are investing heavily to make their offerings more affordable, particularly in emerging economies, to expand their customer base. In addition to cost-cutting measures, these companies are partnering with social media influencers with millions of followers to market their products effectively.
With the increasing demand for non-invasive cosmetic procedures and the growing popularity of social media, the global market for aesthetic medical devices is expected to continue its growth trajectory in the coming years.
Recent Developments in the Aesthetic Medical Device Market
- Sofwave Medical: Their skin laxity improvement device obtained FDA clearance in December 2023, offering non-invasive treatments lasting 30-45 minutes.
- ExoCoBio: Completed the acquisition of BENEV in July 2023, enhancing the commercialisation of exosome technology worldwide.
- Establishment Labs: Received CE mark approval for its minimally invasive surgical tools, including the Motiva inflatable balloon, channel dissector, and injector, in May 2023.
- JIYA Facial Cosmetic Surgery: Introduced Acclaro Medical’s UltraClear® Anti-Aging Treatment, which offers noticeable results in just one session, in August 2023.
- LPG Group: Secured an exclusive supply agreement with Korean wellness company LPHYSIO in March 2023, bolstering its presence in Korea’s professional beauty and wellness market.
Key Companies in the Aesthetic Medical Device Market
- Allergan plc: Ireland
- Bausch Health Companies Inc.: Canada
- Cynosure, LLC: United States
- Cutera, Inc.: United States
- Galderma S.A.: Switzerland
- Merz Pharma GmbH & Co. KGaA: Germany
- Sientra, Inc.: United States
- Solta Medical, Inc. (a subsidiary of Bausch Health): United States
- LPG Systems: France
- Venus Concept Ltd.: Canada
- Sciton, Inc.: United States
- ZELTIQ Aesthetics, Inc. (a subsidiary of Allergan plc): United States
- Fotona d.o.o.: Slovenia
- Hologic, Inc.: United States
- Syneron Candela: United States
- Zimmer MedizinSysteme GmbH: Germany
The team at Aesthetics Today continuously tracks emerging trends and events in the beauty industry to ensure that our readers are aware of the evolving needs of consumers.
