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The energy-based aesthetic devices market is estimated to grow at a CAGR of 8.5% between 2022 and 2027. The size of the market is forecast to increase by USD 1,752 million. The growth of the market depends on several factors, including the increasing demand for aesthetic procedures, the increase in the number of private clinics and treatment options, and the increase in disposable income.
This report extensively covers market segmentation by end-user (medspa, hospital or surgery center, HPC owned clinic, and traditional spa), product (laser, light, ultrasound, and radiofrequency), and geography (North America, Asia, Europe, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the global energy-based aesthetic devices market as a part of the global healthcare equipment market. The parent global healthcare equipment market covers products and companies engaged in the research and development of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increasing demand for aesthetic procedures is notably driving the market growth, although factors such as risks associated with energy-based aesthetic devices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Energy-Based Aesthetic Devices Market Driver
The increasing demand for aesthetic procedures is one of the key factors driving the growth of the global energy-based aesthetic devices market. The demand for energy-based aesthetic devices is increasing due to various advantages, such as a shortened duration of procedures with instant results. Advancements in technology, such as laser-based aesthetic procedures, have created a plethora of applications in the field of aesthetics, resulting in a significant rise in the number of procedures that are carried out using lasers. Smaller incisions, lesser pain, reduced hospital stays, and faster recovery time is some of the benefits it offers. This also results in saving costs compared to conventional surgeries.
Non-invasive laser procedures are being used in various fields, such as dermatology, ophthalmology, cardiovascular, cosmetic surgery, dentistry, and oncology-related surgery. Also, the increase in disposable income has boosted the consumer's purchasing power, thus increasing the demand for energy-based aesthetic devices. Thus, the demand for aesthetic surgery is increasing, which will drive the growth of the energy-based aesthetic devices market during the forecast period.
Significant Energy-Based Aesthetic Devices Market Trend
The emergence of combination treatments and home-use devices is a primary trend in the global energy-based aesthetic devices growth. Surgeons have started adopting a combination of surgical and non-surgical procedures to provide more comprehensive results. One such example involves the rejuvenation of the face in addition to treatment with botulinum toxins and fillers. If these procedures are performed correctly and in the right order, all three can be used in the same session. This combination of treatments may also help in increasing efficacy for a long period. Also, the combination of dermal fillers, energy-based devices, neurotoxins, and less invasive surgeries are customized to the specific requirements of each patient to yield better results compared to a single treatment option.
Moreover, the surgeons are also offering these packages at a comparatively lower price, which further benefits the consumer. Aesthetic clinics across the world have started adopting this strategy to increase customer satisfaction rates. Many aesthetic providers are abandoning monotherapy and combining medical skincare, laser conditioning, and facial injectable, and offering synergistic packages to their clients. However, more research and enough clinical evidence are further required for increasing the adoption rates of combination treatment globally during the forecast period.
Major Energy-Based Aesthetic Devices Market Challenge
The risks associated with energy-based aesthetic devices are a major challenge to the growth of the global energy-based aesthetic devices market. The use of energy-based aesthetic devices involves risks and complications not only for patients but also for physicians and operators. These devices emit hazardous radiation that can have serious effects and sometimes can lead to death. Other risks include skin color changes and herpes infection. High-power energy devices can damage the sensitive part of the eye and the skin. Anesthesia complications, blood clots, allergic reactions, adverse effects due to undiagnosed medical issues, and injury to blood vessels and nerves are some of the complications after energy-based aesthetic procedures. Sometimes, the side effects of these devices can be long-term, which may affect the quality of life of end-users.
Also, the earlier version of CO2 resurfacing lasers generated a high rate of thermal injury, discomfort, pain, dyspigmentation, skin eruptions, scarring, erythema, infections, and more downtime. The thermal damage and ablation were due to the continuous wave nature of the conventional CO2 lasers. Later, Er:YAG lasers were developed to lessen the thermal damage to treated skin tissue. Thus, more research is needed to develop a laser application that can ensure the complete elimination of thermal damage to the treated skin tissue. Hence, energy-based aesthetic devices must be used in an isolated and controlled environment to avoid unnecessary damage.
Key Energy-Based Aesthetic Devices Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Energy-Based Aesthetic Devices Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
almalasers.com - The company offers LASER based extensive portfolio of aesthetic devices. Also, the company operates in a single business segment that manufactures medical aesthetic devices.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the medspa segment will be significant during the forecast period. The adoption of medspa is rising due to the number of skin tightening and resurfacing procedures and the rise in the prevalence of chronic skin diseases and the easy accessibility of energy-based aesthetic devices, which will fuel the growth of the medspa segment in the global energy-based aesthetic devices market during the forecast period.
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The medspa segment was valued at USD 824.79 million in 2017 and continue to grow by 2021. Medspas is a unique blend of medicine and aesthetics, offering quality beauty treatments in a relaxing and soothing environment. All are medically recommended and supervised. These med spas are also known as medical spas. MedSpa offers a variety of treatments including Botox injections, anti-wrinkle treatments, fine wrinkle reduction treatments, acne treatments, fillers, and the latest laser treatments. All of these treatments are cosmetic and their main purpose is to rejuvenate or improve a person's appearance. Medspas also offer laser hair removal, vein reduction, and stretch mark treatments. Apart from that, Medspas also offers skin care products that help maintain skin after a variety of dermatologist-recommended procedures. Anti-aging non-surgical lifts, originally available only in clinics, are now readily available at MedSpas. It is expected to witness the growth of the market.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The energy-based aesthetic devices market in North America is led by the US, followed by Mexico and Canada. It is because of the high level of awareness in these countries and the high disposable income of consumers, thus creating a demand for beauty treatments. Energy-based aesthetic procedures, there has been an increase in the demand for laser-based aesthetic procedures because of the advantages provided by laser technology over traditional technology that includes ease of application, precision, and safety. These factors will facilitate market growth of the market in this region during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for North America. However, by the second half of 2020, restrictions were somewhat relaxed in various countries, which resumed business activities. Hence, the relaxation of such restrictions will encourage people to go for health checkups and treatments, which will drive the growth of the energy-based aesthetic devices market in North America during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by End-user (Medspa, Hospital or surgery center, HPC owned clinic, and Traditional spa), Product (Laser, Light, Ultrasound, and Radiofrequency), and Geography (North America, APAC, Europe, and Rest of World (ROW)).
Energy-Based Aesthetic Devices Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.5% |
Market growth 2023-2027 |
USD 1,752 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.65 |
Regional analysis |
North America, APAC, Europe, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Mexico, Brazil, China, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alma Lasers GmbH, Bausch Health Co Inc., Candela Corp, Concord Medisys, Cutera Inc., Cynosure LLC, DELEO SAS, EndyMed Medical Ltd, Energist Ltd, Erchonia Corp, Fotona d.o.o, IRIDEX Corp, Johnson & Johnson, Lumenis Be Ltd, Lutronic Inc, Merz Pharma GmbH & Co KGaA, Sciton Inc., SharpLight Technologies Inc., Tria Beauty, and Venus Concept Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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