Medical Aesthetic Devices Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – JulieSimba
The global SCM market size is forecasted to grow from USD 28.9 billion in 2022 to USD 45.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 9.4% during 2022–2027

Medical Aesthetic Devices Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022

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The global medical aesthetic devices market was valued at USD 13,708. 42 million in 2021 and is expected to gain market growth at a CAGR of 11. 83% in the forecast period. The cosmetic and aesthetic devices manufacturers had to shut down the production and supply units due to the lockdown, that was imposed in the beginning of COVID-19 outbreak, globally.

New York, July 06, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Medical Aesthetic Devices Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https:// www.reportlinker.com/p06290932/?utm_source=GNW
According to a survey by Hamilton Fraser Cosmetic Insurance, conducted in March 2020, with 1,360 cosmetic practitioners in the United Kingdom to assess the impact of the pandemic on cosmetic procedures, stated that 99.78% of practitioners revealed that their practice had been affected during the current pandemic. Additionally, consumers are also looking for online cosmetic home treatments. Thus, the cosmetic brands can exploit this opportunity to renovate their online offerings, to offer e-consultation services, and invest in the right technology, such as chatbots and augmented/virtual reality, as more consumers seek cosmetic advice from the comfort of their home during the pandemic, which reduces the risk of being infected. As per the research article published in Journal of Cutaneous and Aesthetic Surgery (September 2020), airborne contaminants are associated with certain lasers, such as ablative fractional lasers and high-peak-power ultrashort-pulsed lasers, such as nano- and picosecond lasers. Also, devices, such as excimer lamp and skin-tightening devices, have probes that come in close contact with the skin, and the risk of transmission of SARS-CoV2 virus is high. Thus, COVID-19 has highly impacted the medical aesthetic devices market worldwide. However, the situation is gradually improving.

Certain factors that are driving the market growth include increasing obese population, increasing awareness regarding aesthetic procedures, rising adoption of minimally invasive devices, and technological advancement in devices.

The concern of people about their appearance is gradually on a rise, both in the developed and the developing countries. Thus, there is an increase in the number of cosmetic surgeries performed, annually. Although the rate of increase is not much high in developing countries, the fact remains that people are getting more concerned with their appearance, especially with the increasing standard of living.

In Asia, cosmetic surgery has become an accepted practice, and countries, such as South Korea, China and India, have become Asia’s biggest cosmetic surgery market. Also, the growing adoption of minimally invasive and non-invasive aesthetic procedures drives the studied market. With the advent of the internet, information became accessible to everyone, and people started becoming more aware of the aesthetic procedures. All these factors together increased the awareness among the masses about the medical aesthetic procedures, which, in turn, increased the sales of medical aesthetic devices, resulting in a huge growth in the market size of medical aesthetic devices.

Additionally, the increasing research and development activities, for the launch of novel products in the market will propel the medical aesthetic devices market. For instance, in June 2020, Cynosure launched the Elite iQ platform, the next generation of the Elite+ Aesthetic Workstation in the United States, European, and Australian markets for laser hair removal and skin revitalization applications. Hence, given the above-mentioned factors and increasing product launches, the market studied is expected to boost over the forecast period.

Key Market Trends

Botulinum Toxin Sub-Segment is Dominating the Market and Expected to Witness a Growth Over the Forecast Period

Botulinum toxin is a neurotoxic protein that is produced by the bacterium Clostridium botulinum. The injections of botulinum toxin tend to block the nerve signals to the muscle in which it is injected. As the muscle is not able to contract without a signal, it results in diminishing or decreasing unwanted facial wrinkles or appearance. As a result, highly diluted concentrations of botulinum toxin are used for cosmetic and non-cosmetic purposes, such as for the treatment of frown lines between the eyebrows, dystonia, chronic migraine, and other purposes.

The botulinum toxin subsegment by the non-energy-based aesthetic device is showing a growth rate and is expected to grow during the forecast period owing to the rise in demand for minimally invasive cosmetic methods and a higher number of beauty conscious populations.

The Plastic Surgery Statistics Report 2020, by the American Society of Plastic Surgeons, shows that, in the year 2020, 15.6 million people have undergone cosmetic procedures in the United States alone, among which 13.2 million were cosmetic minimally-invasive procedures. The same report suggests that among all the minimally invasive procedures, people have chosen and undergone procedures with botulinum toxin and a total of 4.4 million cosmetic minimally-invasive procedures have been done using botulinum toxin in the United States.

According to the international survey on cosmetic procedures performed by the International Society of Plastic Surgery (ISAPS) in 2020, among all the non-surgical cosmetic procedures performed globally, 43.2% were Botulinum Toxin procedures. The ISAPS performed an international survey on cosmetic procedures in 2020 and according to the data, common cosmetic procedures per age group were botulinum toxin procedures. As per the datasheet, a total of 1,497,540 botulinum toxin procedures were accounted for to the people of age group 19-34 years old, 3,121,221 for the age group 35-50 years old, 1,343,436 for age group 51-64 years old and 208,786 procedures has been done for the age group 65 years and above. All these age groups opted for botulinum toxin procedures for treatment of facial wrinkles, frown lines and others.

The major players in the market are also investing more in the import and export of botulinum toxin products, and they are keenly investing in technological advancements. For example, in March 2021, Revance Therapeutics, Inc. announced the launch of longer-lasting neuromodulator drug candidate DaxibotulinumtoxinA for Injection (DAXI), a Botulinum Toxin Type A formulated with a novel peptide excipient or combined treatment of glabellar, dynamic forehead, and lateral canthal lines and is in under review for the FDA approval . Again, in October 2021, Huons Biopharma has signed a contract worth 97.2 billion won with German-based pharmaceutical company Haemato Pharm to exclusively distribute its botulinum toxin product, to the European market.

The botulinum toxin procedures are minimally invasive and alter the appearance of a person which gives results without surgery also these procedures include microneedles and injections for aesthetic treatments. Due to these benefits increasing number of the beauty-conscious population opt for botulinum toxin procedures along with new product launches and strategic decisions by major players in influencing the growth of the segment.

North America Dominates the Market and Expected to do Same in the Forecast Period

Medical aesthetic technology has rapidly advanced over the past two decades in North America, especially in the United States.

The factors are expected to impact the market growth in the regionly include technological advancement in advancement in aesthetic procedures, increasing of minimally invasive devices, and an increasing obese population in the region. According to the American Society of Plastic Surgeons, 18.1 million cosmetic procedures were recorded in 2019, an increase of 2%, from 2018, which included around 1.8 million cosmetic surgical and 16.3 million cosmetic minimally invasive procedures.

Plastic Surgery Statistics Report 2020 published by the American Society of Plastic Surgeons shows that 2.3 million cosmetic surgical procedures, 13.2 million cosmetic minimally-invasive procedures, and 6.8 million reconstructive procedures (a 3% increase from 2019) were performed in the United States in 2020 Among which people underwent 234,374 Facelift surgeries, 211,067 Liposuction and 193,073 Breast Augmentation, 352,555 nose reshaping, and 325,112 eyelid surgery which were enlisted as the top 5 cosmetic surgical procedures in the United States. This demand for cosmetic surgeries among the population is anticipated to boost the growth of the studied market over the forecast period.

Also, the high concentration of major players in the region and the subsequent product launched a vital role in the growth of the studied market in the region. For instance, AbbVie Inc. completed the acquisition of Allergan in May 2020, and with this acquisition, the company has expanded the BOTOX therapeutics and BOTOX cosmetics under its aesthetic segment. Again, in June 2020, ESI The novel., a part of Essence Group, launched JOLI360, a new skin rejuvenation solution that can measure three skin parameters: hydration, elasticity, and sebum.

Thus, these aforementioned factors are expected to boost the market over the forecast period in North America.

Competitive Landscape

The medical aesthetic devices market is moderately competitive and consists of many players. Companies, like Abbvie Inc. (Allergan PLC), Alma Lasers Ltd (Sisram Med), Bausch Health Companies Inc. (Solta Medical Inc.), Cutera Inc., El. En. (Asclepion Laser Technologies), Lumenis Inc., Sciton Inc., and Syneron Medical Ltd, hold a substantial share in the market studied. The major players are involved in strategic alliances, such as acquisitions, collaborations, and research and development activities, to secure their position in the global market.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06290932/?utm_source=GNW

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