The European medical aesthetic devices market studied was anticipated to grow with a CAGR of 11.37%, during the forecast period. The major factors attributing to the growth of the European medical aesthetic devices market are increasing the obese population, increasing awareness regarding aesthetic procedures and rising adoption of minimally invasive devices, and technological advancement in devices that remain the key drivers in the region. This growth prospect provides significant revenue generation opportunities for manufacturers of aesthetic devices.
The market is expected to experience significant growth, driven by the rising establishment of medical spas in Europe and increased patient demand for minimally and non-invasive body contouring procedures. Furthermore, physicians will increase cellulite reduction and skin tightening to their service offerings due to the high-margin business that these procedures generate. However, the market is constrained by reimbursement issues and the high cost associated with aesthetic procedures.
Key Market Trends
Hair Removal Segment is Expected to Hold a Significant Market Share of the European Medical Aesthetic Devices Market
Getting rid of unnecessary body hair is one of those challenges that everyone has faced in their lives. Therefore the people have been turning to several hair removal methods for more than two decades that will help them to overcome this common problem that nearly everyone faces. Since the development of energy-based devices and laser light for the removal of unwanted hair, aesthetic clinicians, and plastic surgeons have been able to offer patients withstanding the test of time effective treatments.
The European medical aesthetic devices market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market, and some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the region. Some of the companies which are currently dominating the market are Allergan Inc., Lumenis Inc., Johnson and Johnson, Alma Lasers, and Galderma Pharmaceuticals.
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