MEDICAL AESTHETIC DEVICES MARKET ANALYSIS

Medical Aesthetic Devices Market, By Device Type (Energy-based Aesthetic Device and Non-energy-based Aesthetic Device), By Application (Skin Resurfacing and Tightening, Body Contouring and Cellulite Reduction, Facial Aesthetic Procedures, Breast Augmentation, and Others), By End User (Hospitals, Beauty Centers, Skin Clinics, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024
Code : CMI5336
Pages :165
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges – Poor ReimbursementScenario

Poor reimbursement scenario is expected to hamper growth of the global medical aesthetic devices market. For instance, Mediclaim policies are not designed/developed to cover the cost of cosmetic surgeries. Such procedures are not covered by most insurance companies. Lack of reimbursement on aesthetic procedures and equipment/devices is a major challenge facing the companies in the market studied. This in turn is restraining the market growth.

Market Opportunities – Increasing Demand for Medical Aesthetic Devices

Increasing demand for medical aesthetic devices due to rising awareness among people is expected to provide significant growth opportunities for players in the global medical aesthetic devices market. For instance, in August 2022, Allergan Healthcare India, a part of AbbVie Inc., a healthcare company, announced the launch of Juvéderm VOLUX under its business unit of Allergan Aesthetics. Allergan obtained all the necessary approvals from the Central Drugs Standards Control Organization before launching this product. Juvéderm VOLUX is a combination of Hyaluronic acid 25 mg + Lidocaine hydrochloride 3 mg and is intended to restore and create the volume of the face.