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The energy-based aesthetic devices market is estimated to grow by USD 1.75 billion at a CAGR of 8.5% between 2022 and 2027. The aesthetics market experiences growth due to various factors. A surge in demand for aesthetic procedures stems from individuals seeking personal enhancement and better appearance. The proliferation of private clinics and diverse treatment options offers consumers increased accessibility and choice in aesthetic services. Moreover, rising disposable incomes enable more individuals to afford such procedures, fostering market expansion. This convergence of factors fosters a conducive environment for the continual growth of the aesthetics market. With heightened consumer interest and greater affordability, the market is poised to thrive, catering to evolving preferences and aspirations for aesthetic enhancement.
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The market is a cornerstone in addressing skin disorders and ensuring infection control in HCP-owned clinic. Dermatologists rely on these devices for facial cosmetic procedures, meeting the demands of patients seeking fashion statements through aesthetic enhancements. Energy-Based Aesthetic Devices (EBADs) operate at nanoscale scales, employing light-based devices to deliver precise treatments. These devices represent the forefront of innovation in dermatology, offering versatile solutions for various skin conditions and aesthetic concerns. With continuous advancements, they play a pivotal role in reshaping the landscape of aesthetic medicine.
Furthermore, 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.
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 market during the forecast period.
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The medspa segment was valued at USD 824.79 million in 2017. Medspas is a unique blend of medicine and aesthetics, offering quality beauty treatments in a relaxing and soothing environment. 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.
The market is propelled by dermatology procedures and the increasing demand for skin resurfacing. Addressing safety concerns, energy-based aesthetic devices (EBD) offer solutions for wrinkles, unwanted lesions, and sun-damaged skin. With teledermatology and virtual patient consultations, accessibility improves, catering to aesthetically sensible patients. These devices also cater to the obese population seeking body sculpting. Light-based aesthetic devices and EBADs cater to various skin types and hair types, leveraging intensified pulsed light (IPL) and specific wavelengths. As celebrities set fashion trends, the market witnesses HCP-owned clinics adopting these advanced technologies. 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.
The increasing demand for aesthetic procedures is one of the key factors driving the growth of the 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 are 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 market during the forecast period.
The emergence of combination treatments and home-use devices is a primary trend in the market. 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 to increase the adoption rates of combination treatment globally during the forecast period.
The risks associated with energy-based aesthetic devices are a major challenge to the growth of the 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.
Furthermore, 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, they must be used in an isolated and controlled environment to avoid unnecessary damage.
The market forecasting 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 market research report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies 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.
The report also includes detailed analyses of the competitive landscape of the market and information about 16 market companies, including:
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research 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 is witnessing significant growth driven by technological advancements and rapid changes in the healthcare landscape. These devices cater to a range of needs, from skin rejuvenation to body contouring, utilizing innovative technologies such as intense pulse light, cryolipolysis, and radiofrequency. They address concerns related to aging procedures, skin damage, and obesity by targeting factors like collagen fibers, fine lines, and body fat composition. With a focus on geriatric populations and awareness from organizations like the American Society of Plastic Surgeons, the market is poised for further expansion, attracting both healthcare providers and payers.
Additionally, the market is witnessing a surge in demand, fueled by advancements in non-surgical medical aesthetic treatment and technological advancement. Key players, including Bausch Health Companies and Aesthetic Laser Partners, are driving innovation in intense pulse light technology, radiofrequency (RF), and laser-based aesthetic devices. These technologies cater to various concerns such as facelifts, hormonal changes, skin laxity, and acne scars, appealing to both geriatric populations and younger demographics. With options ranging from on-premise to cloud-based solutions, the market continues to grow, supported by awareness initiatives from organizations like the American Society of Plastic Surgeons and plastic surgery statistics.
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 1.75 billion |
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 Companies, Market Positioning of Companies, 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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