Published: Apr-2021 | Format: PDF | Market Research Store | Number of pages: 166 | Code: MRS - 828584
According to the report published by Market Research Store, global demand for the aesthetics equipment market was estimated at approximately USD 1,800 Million in 2019 and is anticipated to generate revenue of around USD 3,900 Million by end of 2026, growing at a CAGR of around 11.7% between 2020 and 2026.
Global Aesthetics Equipment Market: Overview
Aesthetic equipment includes those used in surgical procedures such as skin tightening, facial injections, anti-aging, extra fat removal, excessive hair removal, and plastic surgery. Enhancement of body features, correction, and beautification are the goals of these procedures. Because of the growing demand for cosmetic procedures around the world, the global medical aesthetic devices market is expected to grow. Aesthetic equipment is used to address impairments that are linked to an individual's facial appearance. Face discoloration, liver spots, acne, spider veins, moles, lesions, cellulite, extra weight, and skin laxity are only a few of the cosmetic issues that these instruments can help with. Surgical and non-surgical cosmetic procedures are also used in the term "aesthetic procedures."
Global Aesthetics Equipment Market: Growth Factors
A substantial rise in the choice for mildly invasive and non-invasive cosmetic treatments over conventional surgical procedures has occurred in the last decade. Minimally invasive/nonsurgical treatments have a number of benefits over conventional surgical procedures, including decreased discomfort, scarring, and healing time. In addition, these treatments are less expensive than conventional surgical techniques. According to the International Society of Aesthetic Plastic Surgery (ISAPS), the number of plastic and cosmetic operations increased by 5.4 percent between 2017 and 2018. Medical aesthetic equipment and procedures have grown in popularity over the last two decades. Because of the increase in the number of doctors and surgeons offering safe and reliable aesthetic services, as well as the introduction of technologically innovative products for the same, the market for aesthetic treatments has seen considerable expansion. Medical cosmetic treatments, on the other hand, are linked to a variety of potential side effects. Aesthetic therapy patients can face a number of risks and complications after or during the operation. Emerging markets like China, Brazil, Mexico, and India provide huge prospects for players in the aesthetics equipment industry. The demand for aesthetic equipment is rising in these countries as a result of rising medical tourism, a growing adult population (aged 20 and up), rising disposable incomes, and increased awareness of aesthetic specialties. The emergence of a significant number of surgeons in these developing countries is also helping the aesthetics equipment market to expand. Negative views of aesthetic operations, as well as religious and ethical questions for certain aesthetic therapies, such as modifications, augmentations, erasures, and fillings, contribute to social stigmas associated with cosmetic treatments (surgical and nonsurgical). About the fact that many people receive some kind of appearance-altering therapy, few of them enjoy discussing it. Invasive anti-aging therapies, such as BOTOX or plastic surgery, are seen by others as narcissistic, self-centered, or mentally ill. Despite the fact that there is a growing focus on looking younger in the elderly, cosmetic age concealment can have negative social implications. The social stigma attached to cosmetic treatments has a detrimental impact on social acceptance of these procedures, limiting business expansion.
Global Aesthetics Equipment Market: Segmentation
The aesthetics equipment market is segmented in terms of product type, treatment type, and end-user. Based on the product type, the market is divided into laser skin resurfacing devices, micro-needling products, nonsurgical skin tightening devices, light therapy devices, and others. In the worldwide demand for skin aesthetic applications, laser skin resurfacing devices accounted for the largest number with the highest CAGR. Lasers are known to have multiple opportunities to enhance the texture as well as other issues on the skin such as acne, wrinkles, and other skin-related issues. Furthermore, the ease of use provided by these products, which makes them suitable for use by healthcare professionals all over the world, is expected to fuel the segment's growth over the forecast era. Based on the end-user analysis, the market is bifurcated into medical spas and beauty salons, hospitals and aesthetic clinics, home settings, and others. In terms of revenue, hospitals and aesthetic clinics are the most popular end-user group. This is owing to the exposure to global developments, rising disposable incomes, and evolving habits that are among the common causes that are resulting in an increase in the number of visits to these institutes, accompanied by an increase in the number of procedures conducted. The number of nonsurgical procedures performed in 2018 rose by 461 percent since 1997, according to a survey conducted by the American cosmetic industry. Cosmetic treatments are considered to have a significant effect on the morale and self-image of those who undergo them, and this factor is expected to continue to fuel the success of numerous cosmetic enhancement procedures in the coming years, such as nose jobs and breast enhancements. These operations are carried out in a sterile manner and do not necessitate a lengthy period of waiting or healing. Furthermore, the treatments can be repeated several times in outpatient settings.
Global Aesthetics Equipment Market: Regional Analysis
In North America, the aesthetic equipment industry has evolved rapidly over the last two decades. Technological advancements in devices, growing knowledge of cosmetic procedures, rising acceptance of minimally invasive devices, and an increase in the obese population in the area are all projected to positively impact the studied market's development. There were 18.1 million cosmetic operations performed in 2019, up 2% from 2018, including 1.8 million cosmetic surgical procedures and 16.3 million cosmetic minimally medical interventions, according to the data shared by the American Society of Plastic Surgeons. In addition, the region's high concentration of global players, as well as subsequent product releases, play an important role in the region's market development. For example, Essence Group's E.S.I. company, released JOLI360, a revolutionary facial rejuvenation treatment that can calculate three skin factors: hydration, elasticity, and sebum, in June 2020. As a result, the above factors are projected to fuel the demand in North America over the forecast period.
Global Aesthetics Equipment Market: Covid-19 Impact
The COVID-19 pandemic has had a significant impact on the medical aesthetics industry. The cosmetic and luxury industry is dealing with issues in its production and supply chain, such as getting goods to end customers on schedule and dealing with unequal demand for products and services. Thanks to the lockout, the industry is experiencing a phase of short-term negative development, which can be attributed to factors such as a drop in commodity demand from major end consumers, further leading to reducing the operations in most segments, temporary closure of major facilities, including beauty centers and spas, along with interrupted and scattered supply chain, and difficulties in delivering basic services.
Global Aesthetics Equipment Market: Competitive Players
The major players dominating the global aesthetics equipment market in terms of revenue and development are Merz Pharmaceuticals, Venus Concept, Allergan, Lumenis, Btl Industries, Inc., Cynosure, Cutera, Solta Medical (Valeant Pharmaceuticals), Alma Lasers, Ulthera, Genesis Biosystems, Inc., Implantech, and Others. To establish a credible foothold in the global economy, these multinational corporations have used a variety of strategies, including buying partnerships, stakes, arrangements, alliances, joint ventures, new product releases, sales, and mergers and acquisitions.
Aesthetics Equipment Market: Regional Segment Analysis
Aesthetics Equipment Market
Aesthetics Equipment Market