Market Size of Spain Aesthetic Devices Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2019 - 2022 |
CAGR | 5.90 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spain Aesthetic Devices Market Analysis
The Spain aesthetic devices market is projected to register a CAGR of 5.9% during the forecast period (2022-2027).
Considering the COVID-19 outbreak, the perspectives on the present and future state of the economy are still negative. Healthcare also had a large impact and caused damage to its process and flow during the pandemic. This was expected to have a significant impact on the market in Spain. In Spain, 58% of private hospitals lament the lack of physicians, and 95% of hospitals lament the lack of nurses. The cosmetic surgeries were postponed because the other surgeries had to deal with this issue. The country's market is anticipated to be significantly impacted by this. According to an article titled 'Cosmetic tourism during the COVID-19 pandemic: Dealing with the aftermath' published in January 2022, during the COVID-19 pandemic, the European Association of Societies of Aesthetic Plastic Surgery (EASAPS) released a statement that advised the immediate suspension of cosmetic surgery so that all resources could be redirected to overcoming the pandemic
The Spanish medical aesthetic devices market has gained a lot of momentum in recent years due to the increase in the number of cosmetic surgeries being performed and the increasing concern with appearance and looks. As per an article titled 'Cosmetic Surgery in Spain' published in 2020, cosmetic surgery in Spain's prices is about 60% lower than in the United Kingdomor America. For instance, a tummy tuck's cost in Spain is GBP 7,000 while in the United Kingdom it is over GBP 11,000 for the same procedure. This is expected to boost the market in the country. Spain's medical tourism packages are available for international patients at more competitive prices than in the United Kingdom. This also helps the market to flourish in the country. As per an article titled '5 Best Countries for Medical Tourism' published in 2022, many patients choose European countries over Spain for various treatments because of no significant cost difference. Spain has 22 Joint Commission International (JCI) accredited hospitals specializing in neurosurgery, oncology, orthopedics, hematology, and plastic surgery. Therefore, the abovementioned factors are expected to promote the market in the country.
The internet steers the nation's population toward different cosmetic operations and is predicted to grow the industry. With the advent of the internet, information became accessible to everyone, and people started becoming more aware of aesthetic procedures. Hence, all these factors have increased the awareness about medical aesthetic procedures, which in turn, has increased the sales of medical aesthetic devices. This is expected to increase the market growth in the country. For instance, as per an article titled 'E-commerce in Spain: Determining factors and the importance of the e-trust' published in February 2022, the digital divide between Spain and other European Union (EU) countries has been reduced or overcome, as 90% of the Spanish population has access to the Internet at home. Such an increased usage of the internet is expected to influence the population of the country and have a large impact on the market and help it to grow further in the forecast period.
As per the article 'Has the Prevalence of Obesity in Spain Plateaued? A Systematic Review and Meta-Analysis' published in April 2022, the prevalence of excess body weight in Spain increased from 23.3% during the period 1999-2010 to 39.9% during 2011-2021. Thus, obesity has also been one primary factor that has been driving the growth of the market. Moreover, the rising adoption of minimally invasive devices in the field has also made devices and instruments more precise and safer. The adoption of minimally invasive surgical instruments is higher in hospitals and specialty clinics, owing to their higher purchasing power, and highly skilled professionals. Hence, all these factors have helped the market growth.
The poor reimbursement scenario, the high cost of treatment, and risk of malfunctions in the aesthetic surgeries are expected to restrain the market growth in the country.
Spain Aesthetic Devices Industry Segmentation
As per the scope of the report, aesthetic devices refer to all medical devices that are used for various cosmetic procedures, which include plastic surgery, unwanted hair removal, excess fat removal, anti-aging, aesthetic implants, skin tightening, etc., that are used for beautification, correction, and improvement of the body. Aesthetic procedures include both surgical and non-surgical procedures. The Spain Aesthetic Devices Market is segmented by Device (Energy-based Aesthetic Devices and Non-energy-based Aesthetic Devices), Application (Skin Resurfacing and Tightening, Hair Removal, Tattoo Removal, Breast Augmentation, and Other Applications), and End-user (Hospitals, Clinics, and Home Settings). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
Type of Device | ||||||||
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Application | |
Skin Resurfacing and Tightening | |
Hair Removal | |
Tattoo Removal | |
Breast Augmentation | |
Other Applications |
End User | |
Hospitals | |
Clinics | |
Home Settings |
Spain Aesthetic Devices Market Size Summary
The Spain aesthetic devices market is experiencing a positive trajectory, driven by an increasing number of cosmetic procedures and a growing societal focus on appearance. Despite challenges posed by the COVID-19 pandemic, which temporarily halted many cosmetic surgeries, the market has rebounded due to factors such as competitive pricing for cosmetic procedures compared to other countries and the availability of medical tourism packages. The presence of accredited hospitals specializing in various medical fields, including plastic surgery, further bolsters the market's growth. The rise in internet accessibility has also played a significant role in raising awareness about aesthetic procedures, contributing to the increased demand for medical aesthetic devices. Additionally, the prevalence of obesity and the adoption of minimally invasive devices have further propelled market expansion, as these factors have made aesthetic procedures more appealing and accessible.
However, the market faces certain constraints, including a poor reimbursement scenario, high treatment costs, and potential risks associated with aesthetic surgeries. Despite these challenges, the market remains attractive due to Spain's developed healthcare system and its openness to technological innovations. The presence of global players in the aesthetic devices market, such as Allergan PLC and Galderma SA, underscores the country's potential as a lucrative market for aesthetic devices. Collaborations, like the one between Merz Aesthetics and Candela Corporation, aim to address emerging patient demands, further enhancing the market's growth prospects. The combination of these factors positions Spain as a significant player in the aesthetic devices industry within the European Union.
Spain Aesthetic Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rapidly Increasing Aging Population
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1.2.2 Increasing Obese Population
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1.2.3 Increasing Awareness Regarding Aesthetic Procedures and Rising Adoption of Minimally Invasive Devices
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1.3 Market Restraints
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1.3.1 Poor Reimbursement Scenario
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type of Device
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2.1.1 Energy-based Aesthetic Device
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2.1.1.1 Laser-based Aesthetic Device
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2.1.1.2 Radiofrequency (RF)-based Aesthetic Device
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2.1.1.3 Light-based Aesthetic Device
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2.1.1.4 Ultrasound Aesthetic Device
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2.1.2 Non-energy-based Aesthetic Device
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2.1.2.1 Botulinum Toxin
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2.1.2.2 Dermal Fillers and Aesthetic Threads
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2.1.2.3 Chemical Peels
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2.1.2.4 Microdermabrasion
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2.1.2.5 Implants
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2.1.2.6 Other Non-energy-based Aesthetic Devices
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2.2 Application
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2.2.1 Skin Resurfacing and Tightening
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2.2.2 Hair Removal
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2.2.3 Tattoo Removal
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2.2.4 Breast Augmentation
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2.2.5 Other Applications
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2.3 End User
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2.3.1 Hospitals
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2.3.2 Clinics
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2.3.3 Home Settings
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Spain Aesthetic Devices Market Size FAQs
What is the current Spain Aesthetic Devices Market size?
The Spain Aesthetic Devices Market is projected to register a CAGR of 5.90% during the forecast period (2024-2029)
Who are the key players in Spain Aesthetic Devices Market?
Allergan PLC, Bausch & Lomb Incorporated, Hologic Inc., Lumenis Inc. and Cutera Inc. are the major companies operating in the Spain Aesthetic Devices Market.