Medical Aesthetic Devices Market is Estimated to Witness High Growth Owing to Opportunity in Cosmetic Industry

 

Medical Aesthetic Devices Market

Medical aesthetic devices are widely used for cosmetic procedures such as body contouring treatments like cellulite reduction, skin tightening and circumferential reduction; as well as face treatments like skin rejuvenation, freckle removal, pigmentation and tattoo removal. These devices use innovative technologies including intense pulsed light (IPL), laser treatments, ultrasonic technologies, microdermabrasion and radiofrequency for non-invasive and minimally invasive treatments. The global medical aesthetic devices market is estimated to be valued at US$ 13.04 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

The global medical aesthetic devices market is estimated to be valued at US$ 13.04 Bn in 2023 and is expected to exhibit a CAGR of 7.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

Rising awareness regarding aesthetic treatments is a key driver fueling growth of the medical aesthetic devices market. There has been significant rise in social media influencing that beauty standards which is increasing consciousness about physical appearance among people. Various social media platforms are majorly impacting society especially younger generation in accepting and considering aesthetic procedures to enhance looks. This has consequently increased adoption of medical aesthetic devices for non-invasive body contouring and facial aesthetic treatments. Additionally, growing prevalence of skin diseases mainly due to pollution, changing lifestyle and climate changes has boosted demand for advanced skin treatment devices. However, high cost of certain aesthetic procedures and devices may hamper market growth over the forecast period.

 

SWOT Analysis

Strength: Medical aesthetic devices market has strong demand as the number of people opting for minimally invasive aesthetic procedures is increasing. Technological advancements are allowing development of more safer and effective aesthetic devices. Growing medical tourism in countries is also boosting the market growth.

 

Weakness: High costs associated with aesthetic procedures can limit the market growth. Lack of reimbursement policies add to the treatment costs for customers. Safety concerns regarding some new procedures and side effects associated can negatively impact the market acceptance.

 

Opportunity: Rising geriatric population prone to age-related issues is presenting a major growth opportunity. Growing preference for non-surgical aesthetic treatments among millennial population will drive future sales. Emerging economies offer immense growth scope with increasing disposable incomes and willingness to spend more on appearance improvement.

 

Threats: Stringent regulatory approvals and regulatory framework delays market entry of new products. Changing social perceptions and stigma regarding aesthetic treatments continue to challenge the industry. Economic slowdowns can reduce discretionary spends on aesthetic procedures.

 

Key Takeaways

 

The Global Medical Aesthetic Devices market Share is expected to witness high growth.

Regional analysis: North America dominates currently supported by growing obesity issues driving demand for body contouring treatments. Asia Pacific is poised to grow fastest in the forecast period with China, India, South Korea, and Thailand emerging as leading aesthetic markets.

 

Key players operating in the Medical Aesthetic Devices market are AGRANA Beteiligungs AG, Biome Bioplastics Limited, BIOTEC, Cardia Bioplastics, Novamont SpA, Kuraray Co. Ltd (Plantic), Rodenburg Biopolymers, and Wittenburg Group. Major players are investing in new product development to launch advanced skin tightening, resurfacing and body contouring devices. Partnerships with medical associations and celebrity endorsements are helping create brand awareness and recall.

 


Get More Insights Here

https://www.newswirestats.com/medical-aesthetic-devices-market-size-share-growth-outlook-2023/

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