Medical aesthetic devices refers to technically equipped device which are used to improve cosmetic appearance along with treatment of skin conditions such as wrinkles, unwanted hair, pigmentation, scars, body fat, and skin discoloration. Rising prevalence of skin disease and concerns through growing age related skin concerns has led to increase in demand for cosmetic procedures, thus driving medical aesthetic devices industry growth.  Availability and easy accessibility of technically advance minimally or non-invasive procedures lifting taboos regarding these procedures will act as another contributing factor towards industry growth. Growth in social engagements owing to wide exposure to social media which has increased on screen time leading increase in adoption of these procedures, thus propelling demand for medical aesthetic device . 

Growth in medical tourism has led to rise in number of procedures driving the market growth 

Majority of the cosmetic and plastic surgery procedures are not covered under medical insurance which has led to increase in out of pocket expenditure for these treatments, thus increasing medical tourism which is a major driving factor for aesthetic procedures. Getting high quality medical procedures in affordable price overseas will positively favour cosmetic treatments growth, thus propelling aesthetic devices market.  In addition, presence of not only qualified but certified medical professionals supported by availability of medical centres accredited by international organization and government bodies such as National Institutes of Health (NIH) will stimulate number of procedures, thus promoting aesthetic devices demand.

Energy based aesthetic devices is the fastest growing segment in medical aesthetic devices market by 2026

Energy based aesthetic device market will observe significant gains at over 10.39% by 2026.  Rising adoption of minimally invasive treatments over conventional high cost and medically unsafe complex surgical procedures will positively favour industry growth. Key functional benefits of these procedures such as cost effectiveness, painlessness, lesser discomfort, quick recovery, minimal skin invasion and immediate results making them suitable for ageing population suffering from other ailments that are not eligible for complicated surgeries. Growing awareness about these procedures owing to rigorous marketing strategies and advertising campaigns supported by initiative by government organisations like European Society of Laser and Energy Based Devices (ESLD) will promote lased based procedures, thus stimulating medical aesthetic market growth. 

Face & Skin Rejuvenation accounted for major share in medical aesthetic devices market application 

Face & skin rejuvenation application share in medical aesthetic device market accounted for over 25.80% in 2019.  Rising employment opportunities in fashion, modelling, aviation and entertainment industries has led to increase in adoption of these treatments among men and women. These industries are driven by personality and appearance which might boost aesthetic medical devices market growth. 

North America dominated medical aesthetic devices market in 2019

North America driven by U.S. medical aesthetic device market accounted for largest share in 2019 and will continue its dominance over coming years. Presence of key industry players with effective distribution channels along with offering technological advance device will favour regional industry growth. Increase number of body & face contouring procedures mainly in the U.S. owing to high obesity rate giving rise to other health concerns and complications will further drive aesthetic devices demand. 

Economic Impact of COVID 19 on medical aesthetic devices market

The coronavirus pandemic has led to demand shocks and supply disruptions owing to worldwide lockdown, tight border controls, changed international trade policies. This has led to revamping of supply chain modules to according to uncertain demand causing financial burden on the companies. The COVID 19 plays a vital role in product innovation and commercialization in such crises owing to risk associated with decreased demand along with closed production lines during these pandemic making it difficult for the manufacturers to survive in the business. The exclusive COVID 19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on medical aesthetic device market. In addition, complete analysis of changes on healthcare expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.

Medical Aesthetic Devices Market Key Players

The major player present in medical aesthetic device market includes Aerolase Corp, .Allergan, Plc, Alma Laser, Anika Therapeutics, Inc.,BTL Aesthetics, Cutera, Inc. Cynosure Inc.(Hologic Inc.), DEKA Laser, Fotona, Galderma S.A.(A Nestle Company), GC Aesthetics, HansBiomed Co., LtdHironic Co., Ltd., INMODE, Lumenis Ltd. Lutronic, Mentor Worldwide LLC (Johnson & Johnson Services, Inc.) Merz Pharma GmbH & Co. KGaA, Polytech Health & Aesthetics GmbH, Quanta System SpA, Sciton, Inc., SharpLight Technologies Inc, Sientra, Inc, Solta Medical STRATA Skin Sciences, Suneva Medical, Inc. Syneron, ThermiGen, LLCVenus, Concept, Viora, Viveve Medical.  

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