PUBLISHER: The Business Research Company | PRODUCT CODE: 1414193
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414193
“Energy-Based Aesthetic Devices Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on energy-based aesthetic devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for energy-based aesthetic devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The energy-based aesthetic devices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Energy-based aesthetic devices are medical devices that use various energy sources to perform non-surgical cosmetic treatments, such as light, heat, or ultrasound. It is used to correct problems with a person's physical appearance related to skin.
The main technologies of energy-based aesthetic devices are laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryo-lipolysis, and others. Laser hair removal devices, these devices use laser energy to selectively target and destroy hair follicles, resulting in permanent hair reduction. The gender types include female, and male. These devices are distributed through distribution channels such as indirect, and direct, that are used in various applications such as body contouring and skin tightening, skin rejuvenation, hair removal, leg vein treatment, pigmented lesion and tattoo removal, vaginal rejuvenation, and others. The various end-users are hospital/surgery centers, medspa, traditional spas, HCP owned clinics.
The energy-based aesthetic devices market research report is one of a series of new reports from The Business Research Company that provides energy-based aesthetic devices market statistics, including energy-based aesthetic devices industry global market size, regional shares, competitors with an energy-based aesthetic devices market share, detailed energy-based aesthetic devices market segments, market trends, and opportunities, and any further data you may need to thrive in the energy-based aesthetic devices industry. This energy-based aesthetic devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The energy-based aesthetic devices market size has grown rapidly in recent years. It will grow from $4.78 billion in 2023 to $5.42 billion in 2024 at a compound annual growth rate (CAGR) of 13.3%. The growth observed in the historical period can be ascribed to initiatives focused on lightweighting, corrosion resistance, safety enhancements, crashworthiness, cost-effectiveness, recyclability, and the consumer-driven demand for stylish designs.
The energy-based aesthetic devices market size is expected to see rapid growth in the next few years. It will grow to $8.52 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%.
The anticipated growth in the forecast period can be credited to the worldwide expansion of electric infrastructure, governmental initiatives promoting clean mobility, heightened emphasis on aerodynamics, bolstering supply chain resilience, and regulatory compliance. Noteworthy trends in the forecast period encompass advancements in material technologies, emphasis on customization and aesthetics, integration of smart features, prioritization of recyclability and sustainability, and a focus on durability and weather resistance.
The anticipated rise in the demand for aesthetic surgeries is poised to drive the growth of the energy-based aesthetic devices market. Aesthetic surgeries involve medical procedures wherein incisions are made by doctors to treat or remove diseased or damaged organs. Energy-based aesthetic devices play a crucial role in various surgical treatments, contributing to applications such as skin resurfacing, skin tightening, and body contouring. For instance, in 2021, as reported by the Aesthetic Society, a US-based professional organization of ABPS board-certified plastic surgeons, surgical treatments witnessed a 54% growth in 2021 compared to 2020, while non-surgical procedures increased by 44%. The average number of surgical procedures performed by plastic surgeons was 320 in 2021, with the average cost of surgical procedures increasing by 6%, and non-surgical procedures' cost increased by 1%. Thus, the surge in demand for aesthetic surgeries is a driving force behind the market's growth.
The escalating aging population is expected to be a significant driver of the energy-based aesthetic devices market in the future. A growing aging population denotes the increasing proportion and number of elderly individuals within a population over time. This demographic shift is characterized by a rising median age and a higher percentage of people in older age groups. Energy-based aesthetic devices are utilized by the aging population to address various cosmetic concerns associated with aging skin, including wrinkle reduction, skin tightening, skin resurfacing, collagen stimulation, and hair removal. For example, according to the World Health Organization in October 2022, globally, 1 in 6 people will be 60 or older by 2030, and this age group is expected to double to 2.1 billion individuals by 2050. Additionally, projections from the UK Parliament's House of Commons Library in June 2021 indicate that by 2043, seniors will constitute 24% of the total UK population, amounting to 17.4 million people. Consequently, the burgeoning aging population is a driving force behind the energy-based aesthetic device market's growth.
Technological advancements stand out as a prominent trend gaining traction in the energy-based aesthetic devices market. Companies within the market are actively embracing new technologies as part of their strategy to maintain a competitive edge. For example, in April 2021, Alma, an Israel-based provider of energy-based aesthetic solutions, introduced Alma Hybrid, a versatile laser platform equipped with multiple functions for ablative, non-ablative, and thermal treatments targeting skin rejuvenation and scar revision. The fractional CO2 laser technology employed by Alma Hybrid facilitates ablative skin resurfacing, a process that entails the removal of outer skin layers to stimulate collagen production and diminish the appearance of fine lines, wrinkles, and scars.
Prominent companies in the energy-based aesthetic devices market are concentrating on launching innovative products such as the Alma PrimeX platform to meet the increasing demand for non-invasive body contouring solutions. The Alma PrimeX platform, introduced by Alma Lasers in April 2021, is a non-invasive system catering to both body contouring and skin tightening. This platform presents a sought-after alternative to conventional surgical procedures. Alma PrimeX's significance lies in its combination of advanced technologies, treatment flexibility, and safety features, making it an effective solution for various aesthetic concerns.
In February 2022, Viora, a US-based global leader in the medical aesthetic market, made a strategic move by acquiring Sinclair Pharma, a global aesthetics company. Viora's extensive product portfolio caters to diverse aesthetic practitioners, including dermatologists, cosmetic and plastic surgeons, general practitioners, dentists, cosmeticians, and spa owners. Viora's products enjoy global utilization with over ten thousand customers, and the company maintains direct commercial operations in the US while boasting a global distribution network spanning 60 countries.
Major companies operating in the energy-based aesthetic devices market report are Merz Pharma GmbH & Co. KGaA, Lumenis Be Ltd., Alma Lasers Inc., EL.EN. S.p.A., Cutera Inc., Sisram Medical Ltd., Cynosure Inc., Bausch Health Companies Inc., Zeltiq Aesthetics Inc., Venus Concept Inc., Sciton Inc., TRIA Beauty Inc., Candela Corporation, Lynton Lasers Ltd., Laser Aesthetics SA, Envy Medical Inc., Syneron Medical Ltd., Aerolase Corp., BTL Industries Inc., Lutronic Corporation, Fotona d.o.o., Sientra Inc., InMode Ltd., CureSkin Inc., Cutting Edge Laser Technologies, SpectraGenics Inc., Quanta System S.p.A., Ellman International Inc., Solta Medical, Inomax Inc.
North America was the largest region in the energy-based aesthetic devices market in 2023. Europe is expected to be the fastest-growing region in the global energy-based aesthetic devices market during the forecast period. The regions covered in the energy-based aesthetic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the energy-based aesthetic devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The energy-based aesthetic devices market includes revenues earned by entities by laser systems, radiofrequency devices, intense pulsed light (IPL) systems, ultrasound devices, and services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.