Energy-Based Aesthetic Devices Market To Reach over $6,326 Million in 2030
2023-03-09 12:34:23 UTC | Healthcare & Pharmaceuticals
In 2021, the energy-based aesthetic devices
market size was about $2,662 million and will reach over $6,326 million in 2030, with a CAGR of above 10% in the years to come. The industry's evolution is supported by the rising consciousness, acceptance, and availability of such devices, product innovations, rising income, and thriving prevalence of long-lasting skin circumstances. Furthermore, the technical advancements in the MIS treatments for skin resurfacing and tightening play a role in the industry's evolution.
In 2021, the largest share, approximately 40%, was with laser devices, followed by light-based and electromagnetic energy-based devices. This is chiefly credited to the flared cosmetic applications of lasers, for example, skin contouring and hair and fat decrease. Furthermore, the elderly population and difficulties caused by sun overexposure, such as photoaging, have been increasing continually, which is, in line, stimulating the demand for and manufacture of these devices worldwide.
The facial & skin resurfacing/photo rejuvenation will advance at a momentous growth rate of over 10% in the coming years. The elderly population is one of the main drivers of the industry's growth since unwanted changes, like wrinkles, fine lines, scars, inflamed pores, coarse texture, and dull tone, become obvious on the human face with age. Consequently, to get a youthful radiance, people choose light-based aesthetic devices for these treatments.
Of the two distribution channels, the indirect bifurcation will witness momentous evolution in the coming years, at a growth rate of about 11%, because of the snowballing disposition toward online shopping, particularly for home-use esthetic products. Online shopping portals like Flipkart and Amazon offer an extensive variety of these devices with easy return and payment policies to attain a vast customer base and augment their business performance.
Home-use aesthetic devices will have the highest growth rate in the coming years due to the technical innovations that make energy-based aesthetic devices accessible. Furthermore, these systems are inexpensive, which, in line, reinforces their use case all around the globe.
In 2021, the North American revenue was around 40% energy-based aesthetic devices market, which will continue its industry ascendency in the long run. This is credited to the expanding obese population, which increases the need for fat decrease and body shaping treatments. For example, the U.S. will have a large overweight population of about 125 million by 2030. Also, the increasing R&D activities, product launches, and snowballing healthcare spending act as the major contributors to the industry's growth.
Worldwide, the preference of customers for MIS treatments has been snowballing. As per the ASPS, the most commonly performed MIS procedures comprise botulinum toxin type A, chemical peel, laser skin resurfacing, soft tissue filler, and IPL. The total count of MIS aesthetic procedures augmented to 13.2 million in the year 2020, which was a 174% rise associated with 2000.
The growing medical tourism industry, increasing volume of aesthetic procedures, and rising incidence of skin disorders helped to increase the demand for energy-based aesthetic devices all around the globe.