Medical Aesthetic Devices Market: Snapshot
Expanding at a healthy 9.9% CAGR from 2016 to 2024, the medical aesthetic devices market is poised to amount to a value of US$15.1 bn by 2024. The opportunity in the market was pegged at US$6.5 bn in 2015. This signifies that despite the small share aesthetics holds in the overall medical devices industry, the market holds immense scope for growth. A rapidly expanding pool of geriatrics is perhaps the most significant factor driving the demand for aesthetic procedures, thereby boosting the sales of medical aesthetic devices around the world. An increasing number of medical discoveries and innovations have transformed the healthcare and medical devices industries and the rising demand for youthful radiance will continue to offer a world of opportunities for players to capitalize on.
Aesthetic Laser and Energy Devices Emerge as Most Preferred Product Category
The medical aesthetic devices market can be segmented on the basis of product into facial aesthetic devices, aesthetic implants, skin tightening and body contouring devices, and aesthetic laser and energy devices. Comprising of ablative and non-ablative resurfacing devices, the segment of aesthetic laser and energy devices held the dominant share of over 30.0% in 2015 and is anticipated to exhibit rapid expansion over the coming years. This segment has been identified as having the most potential for growth owing to the fact that dermatologists prefer these devices over any other.
The most common use of aesthetic laser and energy devices is in hair and skin treatments, which comprise skin rejuvenation, tattoo removal, and removal of pigmented lesions. Considering that these devices are non-invasive in nature, they have gained preference over other devices among patients. Moreover, since these devices can be quite capital intensive, several manufacturers are offering to lease these laser and energy devices and ensure greater adoption.
Youth-oriented Culture of Americans to Ensure Dominance of the Region through 2024
Among the key regional segments, North America dominates the worldwide market for medical aesthetic devices, powered by the U.S. This flourishing market accounted for a massive 43.0% share in 2015, thanks to the strong presence of leading medical device manufacturers. North America is predicted to retain its lead throughout the forecast period on account of greater purchasing power of the consumers, an increased focus on innovation, and a rising number of aesthetic companies operating out of the U.S. Another factor driving the medical aesthetic devices market in North America is a large geriatric population and a high number of consumers looking for ways to delay or reverse signs of aging. This youth-oriented nature of the people has translated into increased demand for medical aesthetic devices such as injectables.
Asia Pacific and Latin America have been identified as immensely lucrative markets and both the regions are anticipated to exhibit strong growth in the coming years. This potential growth can be attributed to a large population, rising disposable incomes of the people, growing awareness among the consumers regarding the benefits offered by aesthetic treatments, and an increasing presence of several local device manufacturers offering competitively-priced products.
Allergan plc, Lumenis Ltd., Syneron Medical Ltd., Merz, Inc., Cynosure, Inc., Alma Lasers (Fosun Pharmaceutical Co., Ltd.), Galderma S.A. (Nestle), Cutera, Inc., ZELTIQ Aesthetics, Inc., Solta Medical, Inc., and Mentor Worldwide LLC (Johnson & Johnson) are some of the most prominent players in the global medical aesthetic devices market. The market is highly consolidated by nature and several companies are resorting to strategic collaborations to gain a greater share in the medical aesthetic devices market.
Medical Aesthetic Devices Market: Scope and Methodology
This report on medical aesthetic devices studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various medical aesthetic devices (MAD) and products as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered within the scope of the study. This section also provides the overall information and data analysis of the global medical aesthetic devices market with respect to the leading market segments based on major products, key applications, end-users, and geographies.
Medical Aesthetic Devices Market: Segmentation
The global medical aesthetic devices market has been studied based on major aesthetic product segments, application segments, their end-users, and regional as well as national markets. Based on product type, the global market has been categorized into four major segments: aesthetic laser and energy devices, skin tightening and body contouring devices, aesthetic implants, and facial aesthetic devices. Based on application, the global market has been categorized into following segments: facial and body contouring, facial and skin rejuvenation, breast enhancement, scar treatment, reconstructive surgery, tattoo removal, and hair removal. Based on end-user, the global market has been categorized into three key segments: hospitals, dermatology clinics and cosmetic centers.
The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn for the period from 2014 to 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all segments, considering 2015 as the base year.
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the global medical aesthetic devices market and could influence the market in the near future. Market attractiveness analysis has been provided in all the sections of the report in order to explain the intensity of competition in the market across different products/applications/end-users/geographies. The competitive scenario among different market players is evaluated through market share analysis in the competition landscape section of the report. The section also includes completion matrix that analyzes the competition among some of the top global players operating in the market. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
Geographically, the medical aesthetic devices market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Each regional market for medical aesthetic devices has been further categorized into major product, application, and end-user segments considered within the scope of the study. Key country (U.S., Japan, Germany, France, U.K., Australia, Canada, China, Brazil, Mexico, India, etc.) market revenues have also been provided in different regional sections within the report. Market revenue in terms of US$ Mn for the period from 2014 to 2024 along with CAGR % from 2016 to 2024 are provided for all the regions and nations considering 2015 as the base year.
Medical Aesthetic Devices Market: Competitive Landscape
The report also profiles key players operating in the medical aesthetic devices market based on various attributes such as company details, SWOT analysis, strategic overview, financials, and business overview. Major players profiled in this report include Alma Lasers (Fosun Pharmaceutical Co., Ltd.), Allergan plc, Cutera, Inc., Cynosure, Inc., Galderma S.A. (Nestle), Lumenis Ltd., Mentor Worldwide LLC (Johnson & Johnson), Merz, Inc., Solta Medical, Inc., Syneron Medical Ltd. and ZELTIQ Aesthetics, Inc.
The global medical aesthetic devices market has been segmented as follows:
Global Medical Aesthetic Devices Market Revenue, by Product Type
- Aesthetic Laser and Energy Devices
- Ablative Skin Resurfacing Devices
- Non-Ablative Skin Resurfacing Devices
- Skin Tightening and Body Contouring Devices
- Liposuction Devices
- Skin Tightening Devices
- Cellulite Reduction devices
- Aesthetic Implants
- Breast Implants
- Soft Tissue Implants
- Aesthetic Dental Implants
- Facial Aesthetic Devices
- Microdermabrasion Devices
- Botulinum Toxin
- Dermal Fillers
Global Medical Aesthetic Devices Market Revenue, by Application
- Facial and Body Contouring
- Facial & Skin Rejuvenation
- Breast Enhancement
- Scar Treatment
- Congenital Defect Repair
- Reconstructive Surgery
- Tattoo Removal
- Hair Removal
Global Medical Aesthetic Devices Market Revenue, by End User
- Dermatology Clinics
- Cosmetic Centers
Global Medical Aesthetic Devices Market Revenue, by Geography
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa