Medical aesthetic devices market to reach $38.91B by 2030

Allied Market Research published a report, titled, “Medical Aesthetic Devices Market by Product (Devices, Aesthetic Implants), by Application (Surgical, non surgical), by end user (Hospitals and clinics, medical spas and beauty centers): Global opportunity analysis and industry forecast, 2020-2030.” According to the report published by Allied Market Research, the global medical aesthetic devices market was estimated at $13.52 billion in 2020 and is expected to hit $38.91 billion by 2030, registering a CAGR of 10.7% from 2021 to 2030.

Drivers, restraints, and opportunities-
Rise in demand for minimally invasive & noninvasive reconstruction surgeries drives the growth of the global medical aesthetic devices market. On the other hand, high costs of treatment, low reimbursements, and risk of malfunctions associated with implants impede the growth to some extent. However, development of the medical tourism industry, emergence of tourism medical spas, and adoption of aesthetic procedures to enhance physical appearance are anticipated to pave the way for lucrative opportunities in the industry.

Covid-19 scenario-

• The global economic recession, decline in product demand, and temporary closure of most of the beauty centers affected the medical aesthetic devices market, especially during the initial phase of the pandemic.
• However, the market is anticipated to recoup really soon.

The aesthetic implants segment to retain the lion’s share-
By product type, the aesthetic implants segment held the major share in 2020, garnering more than two-thirds of the global medical aesthetic devices market. The devices segment, on the other hand, is projected to cite the fastest CAGR of 11.1% throughout the forecast period, due to rise in aging population, availability of consumer-friendly devices, and increase in the trend to look aesthetically appealing.

The surgical segment to dominate by 2030-
By application, the surgical segment contributed to the lion’s share in 2020, holding more than two-thirds of the global medical aesthetic devices market. This is attributed to the fact that surgical medical aesthetic procedures are more accessible and affordable when compared with the non-surgical measures. However, the non-surgical segment is projected to manifest the fastest CAGR of 11.1% from 2021 to 2030.

North America held the major share in 2020-
By region, North America dominated in 2020, garnering nearly two-fifths of the global medical aesthetic devices market, owing to increased adoption of medial aesthetics, enhanced technological advancements, and development of novel products by the key players in the province. The market across Asia-Pacific, simultaneously, is expected to cite the fastest CAGR of 11.7% throughout the forecast period. Improvement in R&D facilities, increase in medical tourism, and rise in awareness about medical aesthetics drive the market growth in the region.

Key players in the industry-

• Johnson & Johnson
• LUMENIS LTD
• MERZ PHARMA GMBH & CO. KGAA
• Hologic, Inc.
• Zimmer Biomet Holdings, Inc.
• Allergan plc
• Sientra Inc
• Dentsply Sirona Inc.
• SYNERON MEDICAL LTD
• VALEANT PHARMACEUTICAL INTERNATIONAL, INC

Allied Market Research