Europe Medical Aesthetic Devices Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 202

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In Europe, the rising cases of COVID-19 are expected to have a significant short-term negative impact on the medical aesthetics market. However, the adverse impacts of COVID-19 on the European economy can have significant indirect effects on the market. For instance, in February 2021, Central European authorities warned that they are witnessing an increase in COVID-19 infections across their region amid the discovery of new variants.

For instance, the number of new COVID-19 cases has risen in Europe after six weeks of decline, as per World Health Organization on March 4 2021. Moreover, new cases are also on the rise in several western European countries where rates were already high.

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.

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... 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. For instance, as per the International Society of Aesthetic Plastic Surgery (ISAPS) 2019 stats, the total number of procedure performed in the Germany stands 983,432.

Out of which the most common surgical procedure in the Germany are Breast Augmentation, Liposuction, Eyelid surgery, Abdominoplasty, and Breast Lift with 66,972; 62,865; 44,592; 24,280; 19,712 procedures, respectively. In addition, as per the British Association Of Aesthetic Plastic Surgeons 2020 data, among women, breast augmentation is the most popular procedure in United Kingdom, followed by breast reduction, and eyelid surgery.

Medical Aesthetics devices are innovative type of advancement, which helps in providing a solution to patients that deal with the ingenuity of creating beauty. In Europe, these devices have gained its importance due to its benefits such as pain free and non-invasive beauty treatments, maintaining the youthful appearance, maintenance free skin that remains smooth and hairless without the need for shaving, waxing or unpleasant hair treatments among others. 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.

In January 2021, the World Health Organization (WHO) has warned of a tipping point in the fight against COVID-19, amid surging cases in Europe and the fresh challenge of a mutating virus. Moreover, new COVID-19 cases have risen in many European countries, and new restrictions are being imposed. As per WHO situation report, as of 4th March 2021, there were around 39,229,992 confirmed cases of COVID-19. With the rising cases of COVID-19 it is expected to show some short effects on the market as this will restrict the hospitals and clinics in providing hair removal services.

In Europe, with the growing popularity of beauty clinics has increased the demand for hair removal devices for better treatment services. Moreover, growing physical consciousness among millennial has enhanced the need for alternative methods such as regular hair trimming and body hair shaving. For instance, as per American Society of Plastic Surgeons (ASPS), in 2019, in Italy, the number of hair removal procedure was reported to be 30,483. Similarly, in France around 25,265 hair removal procedures were performed.

As a result of this growing demand for hair removal procedures, many market players are launching new products in the market to capitalize it. For instance, in June 2020, Cynosure launched the Elite iQ platform in the European market. The platform offers customized laser hair removal treatments and permanently reduce unwanted hair for all skin types, anywhere on the body. Therefore, emergence of new products with improved technologies and increasing demand are expected to boost the market growth in the European countries.

Competitive Landscape

The European Medical Aesthetic Devices market is moderately competitive. 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 Abbvie Inc (Allergan, Inc)., Lumenis Inc., Johnson and Johnson, Alma Lasers, and Galderma Pharmaceuticals.

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