Global Medical Aesthetic Devices Market: Low-cost Products and Services could Hamper Growth across Emerging Economies, observes TMR Medical Aesthetic Devices Market: Snapshot Although aesthetics presently accounts for a relatively small share in the global medical devices market, the rising global demand for a variety of aesthetic procedures is projected to stimulate the market for medical aesthetic devices significantly in the next few years. The demand for aesthetic procedures and thus that of medical aesthetic devices is chiefly driven by the mounting aging population globally, expendable incomes across emerging economies, product innovation, and cultural acceptance of aesthetic procedures. Looking at the excellent growth prospects offered by the market for aesthetic medical devices market, an increased number of companies in the skincare devices market have also ventured in this field in the past few years. Transparency Market Research projects that the global medical aesthetic devices market will exhibit a 9.9% CAGR over the period between 2016 and 2024. If the number holds true, the market will rise to US$15.1 bn in 2024 from US$6.5 bn in 2015.
Aesthetic Laser and Energy Devices to Continue to be Leading Product Variety Based on the variety of medical aesthetic devices available globally, the market is segmented into aesthetic laser and energy devices, skin tightening and body contouring devices, aesthetic implants, and facial aesthetic devices. Of these, the segment of aesthetic laser and energy devices presently leads, accounting for a share of 30.6% 2015, chiefly owing to the exhaustive usage of these devices as compared to other devices by dermatologists. These devices often use a combination of energy types in order to provide the most effective therapy. Laser and energy devices are most commonly used for skin and hair treatments such as removal of pigmented lesions, tattoo removal, and skin rejuvenation. As patients increasingly demand noninvasive treatment options, aesthetic device providers are seeing these products as an essential addition to their suite of offerings. Further enabling their adoption, a number of manufacturers offer leasing and vendor financing that help limit the upfront capital costs associated with the adoption of these equipment. The segment of lasers and energy devices is also expected to witness expansion at a healthy pace in the next few years, emerging as one with highly promising growth over the period between 2016 and 2024. North America to Remain Center of Development in Near Future