Report : APAC Aesthetic Medical Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Laser-Based [Alexandrite, Diode, ND:YAG, CO2, ER:YAG, PDL, and Others], Light-Based [IPL and LED], Electromagnetic Energy-Based [Infrared-Based, Radiofrequency-Based, Non-Laser (Hydradermabrasion), and Others], Ultrasound-Based, Cryolipolysis, Suction-Based, and Plasma Energy-Based), Application (Facial Skin Resurfacing, Photorejuvenation, Hair Removal, Fat Reduction and Body Contouring, Skin Tightening, Cellulite Reduction, Feminine Rejuvenation, Tattoos and Pigmentation, Acne & Acne Scars, Vascular Lesions, and Others), and End User (Dermatology and Cosmetic Clinics, Hospitals and Clinics, Medical Spas, and Home Use)
At 12.6% CAGR, the APAC Aesthetic Medical Devices Market is speculated to be worth US$ 7,063.08 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC aesthetic medical devices market was valued at US$ 3,474.29 million in 2022 and is expected to reach US$ 7,063.08 million by 2028, registering an annual growth rate of 12.6% from 2022 to 2028. New product launches & approvals and technological advancements associated with medical aesthetic devices are the critical factors attributed to the market expansion.
The healthcare industry is constantly developing at a significant rate due to the increasing demand for aesthetics from a large population has increased new product development, product launches, and approvals on a regional level. Additionally, major market players are involved in research and development activities to ensure the innovation and development of efficient products. In recent years there have been various developments, such as product launches and approvals taking place in the market, which are likely to create ample opportunities in the market. Some of the recent product launches and developments are as follows:
In August 2022, Sofwave Medical Ltd announced the collaboration and distribution agreement with HTDK Group to advance Sofwave sales in China. This strategic partnership will be an important step for Sofwave to tap into the rapidly growing market. Based on the agreement's terms and conditions, HTDK Group will help Sofwave accelerate its product registration approval with China’s National Medical Technology Administration and support the product marketing, distribution, and sales in China once regulatory approvals are obtained. In June 2022, Cynosure launched the PicoSure Pro device, the first and only FDA-cleared 755nm picosecond laser on the market, which delivers energy in one trillionth of a second, utilizing pressure instead of heat to provide safe and effective treatments for unwanted pigmentation and skin revitalization for all skin types. The product was designed with an advanced Platinum Focus lens array to increase collagen and elastin to help combat wrinkles, acne scars, and pores. Thus, an increase in product development, launches, and other strategic collaborations among market players are likely to create ample opportunities and drive market growth in the coming years.
On the contrary, risks and complications associated with procedures and stringent safety regulations hurdles the growth of APAC aesthetic medical devices market.
- Based on technology, the APAC aesthetic medical devices market is segmented into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, and plasma energy-based. The laser-based segment held 24.2% market share in 2022, amassing US$ 841.68 million. It is projected to garner US$ 1,728.56 million by 2028 to expand at 12.7% CAGR during 2022–2028.
- Based on application, the APAC aesthetic medical devices market is segmented into facial skin resurfacing, photo rejuvenation, hair removal, fat reduction & body contouring, skin tightening, cellulite reduction, feminine rejuvenation, tattoos & pigmentation, acne & scars, vascular lesions, and others. The acne and acne scars segment held 19.2% market share in 2022, amassing us$ 665.99 million. it is projected to garner US$ 1,315.87 million by 2028 to expand at 12.0% CAGR during 2022–2028.
- Based on end user, the APAC aesthetic medical devices market is segmented into dermatology & cosmetic clinics, hospitals and clinics, medical spas and home use. The dermatology and cosmetic clinics segment held 37.2% market share in 2022, amassing US$ 1,292.86 million. It is projected to garner US$ 2,693.21 million by 2028 to expand at 13.0% CAGR during 2022–2028.
- Based on country, the APAC aesthetic medical devices market is segmented into China, Japan, India, Australia, Thailand, and Rest of APAC. Our regional analysis states that China captured 30.2% market share in 2022. It was assessed at US$ 1,048.20 million in 2022 and is likely to hit US$ 2,183.36 million by 2028, exhibiting a CAGR of 13.0% during the forecast period.
Key players dominating the APAC aesthetic medical devices market are Alma Lasers (Sisram Medical), Asclepion Laser Technologies GmbH, Bausch Health Companies Inc., Candela Corporation, Cutera Inc., Fotona, InMode, Jeisys Medical Inc, LASEROPTEK, Lumenis Be Ltd., Lutronic, Merz Pharma, Mesoestetic, and Venus Concept among others.
- In 2021, BTL, announced that its Emsculpt family of products is the fastest aesthetic device brand to reach one million treatments.
- In 2021, InMode Ltd. announce the launch of the EvolveX platform with Transform technology. EvolveX is a hands-free, zero downtime full body transforming solution equipped with clinically proven technologies to remodel skin, treat fat, and sculpt muscles. The versatility of EvolveX multi-modalities allows physicians to focus on individual patient needs and produce consistent transformative results.
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