The global aesthetic medical devices market is expected to reach US$ 35,000 million at a CAGR of 9.6 per cent between 2022 and 2032, according to a report published by Future Market Insights.
Factors driving the growth of the market are technologically advanced devices and minimally invasive and non-invasive treatments. Growing number of people looking to improve their appearance, such as reducing signs of aging like loose skin around the eyes, jowls, and cheeks, or improving dry and rough skin, boosting the demand for aesthetic medical treatments.
According to the report, the North America market is expected to grow at a 9.5 per cent CAGR between 2022 and 2032, Asia-Pacific is likely to grow at 8.7 per cent and Europe at 9 per cent.
“People now have easy access to information thanks to the rise in popularity of social media and the internet. People are becoming more aware of the availability of cosmetic procedures as information becomes more readily available. With an increase in the number of social media users and more awareness, the worldwide aesthetic medical devices market is expected to develop in the next few years,” the report stated.
Separately, another report stated that the medical aesthetics market will reach US $45.91 billion by 2029.