Aesthetic Devices Market Size, Share, and Trends 2024 to 2034

The global aesthetic devices market size was estimated at USD 13.4 billion in 2022 and is projected to be worth around USD 24.11 billion by 2032, registering a CAGR of 6.1% during the forecast period from 2023 to 2032.

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Key Takeaways

• North America contributed more than 42% of revenue share in 2022.
• The Asia-Pacific region is estimated to expand the fastest CAGR between 2023 and 2032.
• By Products, the facial aesthetic products segment has held the largest market share of 45% in 2022.
• By Products, the others segment is anticipated to grow at a remarkable CAGR of 7.2% between 2023 and 2032.
• By Raw Material, the polymers segment generated over 60% of revenue share in 2022.
• By Raw Material, the metals segment is expected to expand at the fastest CAGR over the projected period.
• By End User, the hospitals segment generated over 40% of revenue share in 2022.
• By End User, the others segment is expected to expand at the fastest CAGR over the projected period.
• By Distribution Channel, the direct tender segment generated over 70% of revenue share in 2022.
• By Distribution Channel, the retail sales segment is expected to expand at the fastest CAGR over the projected period.

Aesthetic Devices Market Overview

Aesthetic devices, often termed as artistic or creative tools, serve as the nuanced methods employed by writers, artists, and creators to amplify the elegance, emotional resonance, and overall allure of their artistic endeavors. These tools are essential in diverse forms of expression, spanning literature, poetry, visual arts, music, and cinema, empowering artists to effectively convey their ideas and elicit profound reactions from their audience.

Within the realm of aesthetic devices lie a rich tapestry of techniques and strategies, ranging from symbolism, allegory, and vivid visual imageries in literary and poetic works, to the employment of principles such as color schemes, compositional intricacies, and perspective in visual arts. Music finds its essence in the harmonious interplay of rhythms, melodies, and tonal variations, while cinema hinges on techniques like cinematography, lighting nuances, and the meticulous design of auditory landscapes. These inventive devices enable artists to communicate intricate emotions, themes, and concepts, infusing their creations with layers of meaning and profound profundity. Through the discerning selection and adept application of these tools, artists have the power to metamorphose ordinary works into mesmerizing, thought-provoking, and emotionally evocative masterpieces that leave an enduring imprint on their audience.

Aesthetic Devices Market in the U.S. 2023 To 2032

The U.S. aesthetic devices market size was valued at USD 3.38 billion in 2022 and is expected to reach USD 6.08 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

North America has held the largest revenue share 42% in 2022. North America commands a substantial share in the aesthetic devices market due to several factors. The region boasts a well-established healthcare infrastructure, high healthcare expenditure, and a robust economy, enabling a larger consumer base to access aesthetic treatments and devices. Additionally, the increasing emphasis on physical appearance, anti-aging solutions, and wellness drives the demand for aesthetic procedures. Stringent regulatory standards and FDA approvals enhance consumer confidence in the safety of these devices. Moreover, a culture that promotes beauty ideals and the strong presence of leading aesthetic device manufacturers in North America further solidify the region's dominance in the market.

Asia-Pacific is estimated to observe the fastest expansion. Asia-Pacific commands substantial growth in the aesthetic devices market due to several key factors. The region's robust economic growth has led to a rising middle class with higher disposable income, increasing the demand for aesthetic procedures. Moreover, changing beauty standards and a strong cultural emphasis on appearance have driven the adoption of aesthetic devices. The availability of advanced technologies and a growing number of aesthetic clinics and practitioners in countries like South Korea and India further boost the market. With a large and diverse population, Asia-Pacific remains a lucrative market for aesthetic devices and treatments.

Growth Factors

• Increasing Demand for Non-Invasive Procedures: Growing consumer preference for non-invasive or minimally invasive aesthetic treatments drives the market.
• Aging Population: The global aging population is seeking anti-aging solutions, boosting the demand for aesthetic devices.
• Technological Advancements: Ongoing innovations in aesthetic device technologies lead to more effective and safer treatments.
• Rising Disposable Income: Higher disposable income allows more individuals to afford aesthetic procedures.
• Social Media Influence: The desire to look good in photos shared on social media platforms has spurred interest in aesthetic enhancements.
• Medical Tourism: The rise in medical tourism contributes to the global demand for aesthetic procedures and devices.
• Wider Acceptance: Aesthetic procedures are becoming more socially accepted, reducing the stigma associated with such treatments.
• FDA Approvals: Regulatory approvals, such as those from the U.S. Food and Drug Administration (FDA), enhance market credibility.
• Customization and Personalization: Aesthetic devices are increasingly offering tailored solutions for individual patient needs.
• Growing Beauty Industry: The overall growth of the beauty and cosmetics industry fuels the aesthetic device market.
• Consumer Awareness: Better access to information and education on aesthetic treatments increases consumer awareness.
• Rising Male Market: A growing male consumer base seeking aesthetic procedures contributes to market expansion.
• Emerging Markets: Developing countries are witnessing rapid adoption of aesthetic procedures.
• Health and Wellness Trends: Aesthetic enhancements are considered part of a broader trend towards health and wellness.
• Insurance Coverage: Increasing insurance coverage for certain aesthetic procedures makes them more accessible.
• Patient Safety Concerns: The focus on patient safety and quality of care drives the use of advanced aesthetic devices.
• Combination Therapies: The trend of combining different aesthetic procedures for optimal results spurs device usage.
• Telemedicine and Consultations: The growth of telemedicine facilitates consultations and expands the market reach.
• Research and Development: Ongoing research and development efforts lead to the introduction of more advanced devices.
• Evolving Beauty Standards: Changing beauty standards and preferences influence the types of aesthetic procedures and devices in demand.
• Bausch Health Companies Incannual revenue for 2022 was $8,124M, a 3.7% decrease from 2021. Bausch Health Companies Incannual revenue for 2021 was $8,434M, a 5.1% increase from 2020.

Aesthetic Devices Market Scope

Aesthetic Devices Market Dynamics

Driver

Changing beauty standards

Changing beauty standards are a significant driver of growth in the aesthetic devices market. As societal ideals of beauty evolve, individuals increasingly seek aesthetic enhancements to align with these new norms. The desire to meet current beauty standards, often influenced by celebrities, social media, and fashion trends, motivates people to consider a wide range of aesthetic procedures. These changing standards also contribute to the diversification of the market. Different cultures and regions may have their own unique beauty ideals, prompting the development and adoption of specific aesthetic devices to cater to these preferences.

For instance, facial contouring and skin treatments are highly sought after in some regions, while body sculpting and hair removal may be in higher demand in others. Aesthetic device manufacturers respond to these shifts by developing innovative products that can help individuals achieve the desired look. The dynamic interplay between changing beauty standards and the aesthetic devices market ensures continued growth as consumers strive to meet evolving ideals of attractiveness and self-image.

Restraints

Limited insurance coverage

The constraint of limited insurance coverage exerts a notable impediment on the expansion of the aesthetic devices market. Many aesthetic treatments fall into the category of elective and cosmetic procedures, rendering them ineligible for coverage by health insurance plans. This places the full financial onus on individuals seeking these enhancements. This financial barrier can serve as a deterrent for prospective patients, as the substantial out-of-pocket expenses associated with aesthetic procedures can be prohibitive. Limited insurance coverage introduces a stark accessibility gap, particularly affecting those with more modest financial resources.

It may, in fact, discourage individuals with genuine interests or medical justifications for specific treatments from pursuing their aesthetic aspirations. The lack of insurance support not only stifles market growth but also perpetuates disparities in access to aesthetic enhancements, potentially marginalizing a significant segment of the population. Addressing this impediment necessitates advocacy for broader insurance coverage or the establishment of alternative financing mechanisms to foster inclusivity and facilitate access to aesthetic procedures.

Opportunities

Eco-friendly and sustainable devices

Incorporating eco-conscious and sustainable elements into the realm of aesthetic devices is forging compelling opportunities. As the global consciousness around environmental issues continues to rise, there is an increasing appetite for aesthetic devices designed with a diminished ecological footprint, employing eco-friendly materials, and adopting sustainable manufacturing processes. This progressive approach toward sustainability not only resonates with worldwide environmental objectives but also captures the attention of discerning consumers who prioritize environmentally responsible products.

Manufacturers embracing these principles can harness this growing appetite by conceiving aesthetic devices that curtail waste, energy consumption, and environmental repercussions. By placing a strong emphasis on ecological considerations and sustainability in product innovation, companies can not only allure eco-aware consumers but also showcase a steadfast dedication to conscientious business practices, thereby bolstering their reputation and competitive edge within the market.

This transition toward ecologically conscious aesthetics aligns harmoniously with the overarching sustainability trends seen across various industries, emphasizing the immense potential for advancement and originality within the aesthetic devices market.

Products Insights

According to the products, the facial aesthetic products has held a 45% revenue share in 2022. The facial aesthetic products segment commands a substantial share in the aesthetic devices market primarily due to its high demand and versatile applications. Facial aesthetics, encompassing treatments like dermal fillers, Botox, and laser therapy, are favored by a broad demographic seeking non-invasive solutions for skin rejuvenation and anti-aging. Additionally, the face is often considered the most prominent and visible part of the body, driving people to invest in enhancing its appearance. The convenience and relatively low downtime associated with facial aesthetic treatments further contribute to this segment's dominance in the market.

The others segment is anticipated to expand at a significant CAGR of 7.2% during the projected period. The "Others" segment holds significant growth in the aesthetic devices market due to its diverse range of products that do not fit into conventional categories. This segment encompasses innovative, specialized, and niche devices, often associated with cutting-edge technologies and unique applications. As aesthetic preferences and treatments become more individualized and sophisticated, the "Others" category accommodates this demand by offering a broad spectrum of solutions. Patients and practitioners increasingly turn to these unconventional devices to address specific aesthetic needs, driving the growth and dominance of the "Others" segment in the market.

Raw Material Insights

In 2022, the polymers segment had the highest market share of 31.8% on the basis of the raw material. The polymers segment holds a significant share in the aesthetic devices market primarily due to the versatility and compatibility of polymer materials in aesthetic procedures. Polymers are used in various applications, such as dermal fillers, implants, and sutures, offering durable and biocompatible solutions. Their non-invasive and minimally invasive nature contributes to their popularity, attracting patients seeking safer and more accessible aesthetic treatments. Additionally, ongoing research and development efforts in polymer technology continually expand the range of available devices, driving the growth of this segment in the aesthetic devices market.

The metals segment is anticipated to expand fastest over the projected period. The prominence growth of the metals segment in the aesthetic devices market can be attributed to its prominence in offering a balance of adaptability, longevity, and visual appeal. Materials like titanium, stainless steel, and aluminum are frequently selected for crafting medical and aesthetic devices due to their commendable combination of mechanical strength, resistance to corrosion, and compatibility with the human body. These materials exhibit exceptional tolerance to various manufacturing techniques and enable the creation of polished, high-quality finished products, establishing their favored status in the market for devices such as dermal fillers, implants, and instruments, thereby consolidating the metals segment's growth.

End User Insights

In 2022, the hospitals segment had the highest market share of 40% on the basis of the end user. Hospitals hold a substantial share in the aesthetic devices market due to their role as trusted medical institutions. Patients often prefer hospitals for aesthetic procedures as they offer a sense of security, skilled healthcare professionals, and access to a wide range of treatments. Additionally, hospitals have advanced infrastructure and the capability to handle complex cases, making them the go-to choice for various aesthetic procedures, including surgical and non-surgical treatments. This strong healthcare association and comprehensive service offering position hospitals as a major player in the aesthetic devices market, instilling confidence in patients seeking aesthetic enhancements.

The others segment is anticipated to expand fastest over the projected period. The "others" segment in the aesthetic devices market holds a substantial growth due to its diverse nature. This category encompasses end users beyond the typical medical and cosmetic sectors, including tattoo parlors, wellness centers, and non-traditional providers. The growing popularity of aesthetic enhancements in various settings, such as tattoo removal and holistic wellness, contributes to the segment's prominence. Moreover, the evolving landscape of beauty and self-care has led to the emergence of niche practices, expanding the demand for aesthetic devices in these non-conventional settings and thus consolidating the "others" segment's significant market growth.

Distribution Channel Insights

In 2022, the direct tender segment had the highest market share of 70% on the basis of the distribution channel. The direct tender segment holds a significant share in the aesthetic devices market primarily due to its close alignment with healthcare facilities and professionals. Direct tenders enable medical institutions to source aesthetic devices directly from manufacturers, ensuring competitive pricing, tailored product selection, and prompt customer support. This approach streamlines procurement processes, provides opportunities for bulk purchasing, and often results in cost savings. Moreover, the direct tender channel fosters stronger manufacturer-customer relationships, offers product customization, and ensures reliable after-sales service, making it a preferred choice for healthcare providers seeking quality and efficiency in their aesthetic device acquisitions.

The retail sales segment is anticipated to expand fastest over the projected period. The dominance of the retail sales segment in the aesthetic devices market can be attributed to its direct connection with consumers. This distribution channel provides a straightforward and instant avenue for individuals to access aesthetic devices, encompassing both over-the-counter options and products with lower associated risks. By circumventing intermediaries, it grants consumers the ability to make well-informed choices, whether through in-store assistance or online resources. Furthermore, retail sales channels frequently serve a diverse clientele, offering a wide spectrum of products tailored to meet a range of aesthetic preferences, bolstering their prominent growth within the market.

Recent Developments

• In June 2022, Cynosure unveiled the PicoSure Pro, an advanced iteration of the PicoSure platform. This latest innovation is among the initial 755nm picosecond lasers to receive FDA clearance in the United States.
• In January 2021, Candela, a prominent global player in medical aesthetic devices, announced the introduction of the Frax Pro system. This FDA-approved system offers non-ablative fractional skin resurfacing and includes the Frax 1550 and the innovative Frax 1940 applicators. This strategic move expanded Candela's aesthetics product portfolio, enhancing its presence in the market.

Aesthetic Devices Market Players

• Lumenis
• Syneron-Candela
• Cynosure
• Allergan
• Cutera
• BTL Industries
• Hologic, Inc.
• Alma Lasers
• Merz Pharma
• Solta Medical
• Sientra
• Sciton, Inc.
• InMode
• Lutronic
• Fotona

Segments Covered in the Report

By Products

• Facial Aesthetic Products
• Body Contouring Devices
• Cosmetic Implants
• Hair Removal Devices
• Skin Aesthetic Devices
• Others

By Raw Material

• Polymers
• Metals
• Biomaterials

By End User

• Hospitals
• Dermatology Clinics
• Clinics
• Academic And Private Research Institutes
• Others

By Distribution Channel

• Direct Tender
• Retail Sales

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa