The global medical aesthetic devices market is expected to reach $2.9bn in 2016 from $1.8bn in 2009, with a CAGR of 7%, a new report has found.
After the economic slowdown in 2009, the market is expected to grow in 2010 with an increasing number of consumers and providers and increasing demand for minimally and non-invasive procedures.
According to The Future of the Aesthetic Devices Market to 2016 – The Market to Regain Positive Growth report by GBI Research, the aesthetic laser and energy devices market is expected to grow by 5% in 2010.
With the popularity of hyaluronic acid, hair removal, skin tightening, skin rejuvenation and silicone breast implant procedures in the US, the aesthetic devices market will reach $1.7bn in 2016 with a CAGR of 6.5%.
The global silicone breast implants market is expected to reach $962.1m in 2016 with a CAGR of 9.2% contributing 98% towards the overall breast implants market.
The market is also expected to be driven by companies' focus on innovation and their direct-to-consumer marketing approach.