Energy-based Aesthetic Devices Market - Global Outlook & Forecast 2022-2027

The global energy-based aesthetic devices market is expected to grow at a CAGR of 10.75% during 2022-2027. Rapid changes have occurred in the energy-based aesthetic devices landscape in recent years, accelerating market growth. The increasing number of new products entry in the market delivers new growth opportunities. On another side, the involvement of the leading and emerging industry players in developing new products builds up market growth. From 2021 to 2022, many new products were launched in the industry, expected to drive the aesthetic procedures rate in the coming time. In addition, the technological advancement in energy-based aesthetic devices, such as the involvement of intense pulse light technology, cryolipolysis, LED, Nd:YAG laser, are some of the emerging technologies in the energy-based aesthetic devices. In 2020, InMode, a rapidly growing global company of innovative medical technologies, introduced EVOLVE, a non-invasive & hands-free platform designed to treat adipose tissue, remodel skin, and tone muscles. It is one of the all-in-one and hands-free medical devices that cleared the FDA regulations and stood at the forefront of the market, helping in non-invasive medical aesthetic procedures.

Technology Advancement in Energy-based Medical Aesthetic Devices

Technology advancement and innovation in the global energy-based aesthetic devices market have accelerated the medical aesthetic industry and opened the broad spectrum of minimally invasive and non-invasive treatments for the broad patient spectrum globally. Energy-based aesthetic treatment with technological advancement has made medical aesthetic procedures much more accessible and easier. The use of lasers, light-based technologies, and radiofrequency (RF) in medical aesthetic procedures has swelled in recent times. Most manufacturing companies explore the outer limits of safe energy-based approaches, leading medical professionals to purchase energy-based aesthetic devices increasingly. In the current industry landscape, more popular energy-based procedures such as hair removal and transplantation, skin-tightening, skin rejuvenation, feminine rejuvenation, and cellulite reduction have advanced in high-tech functionality and can provide sophisticated results.

Increasing Targeted Population

Globally, energy-based aesthetic procedures are rapidly increasing with the significantly growing targeted population and preference towards medical aesthetic treatments. Due to the increasing geriatric population and their concern about body appearance, there is a huge market demand for energy-based aesthetic products. Worldwide, aging is an inevitable phenomenon; over the past few years, the increasing focus on the aesthetic of older adults on the body appearance and the aesthetic of aging procedures has boosted the energy-based aesthetic devices market. Many aesthetic procedures are performed among older adults, among which females are the major contributors.

INDUSTRY RESTRAINTS

Risks Associated with Energy-Based Aesthetic Devices

Although energy-based aesthetic devices made significant changes in the industry and accelerated growth, some factors still stand as barriers to industry growth. Complications and risks associated with energy-based therapies for managing skin conditions and adverse events are limits to the energy-based aesthetic devices market growth. Energy-based devices use various energy sources that could damage the skin from moderate to severe. So, most energy-based aesthetic devices come under the Class II category by regulatory approvals. It depends not only on human errors but also on every individual's skin type. In medical aesthetic procedures, energy-based devices deliver enough heat to cause thermal disruption of collagen fibers, which can create overheating or loss of the subcutaneous fat, developing scars between the muscle and skin.

SEGMENTATION INSIGHTS

INSIGHTS BY TECHNOLOGY

a) The laser-based aesthetic devices accounted for 38.91% of the global energy-based aesthetic devices market share in 2021 by the technology segment. The factors that increase the demand for laser-based aesthetic procedures are the rising demand for energy-based anti-aging procedures. Also, the demand for hair removal aesthetic procedures is significantly high, which gives the higher demand for laser-based aesthetic procedures. In 2022, laser-based aesthetic procedures such as laser hair removal, skin resurfacing, skin tightening, and non-surgical fat reduction procedures were in higher demand. This has increased the application rate of laser-based aesthetic medical devices and contributed to the energy-based aesthetic devices market growth.

b) The global energy-based aesthetic devices market by light-based is growing at a CAGR of 10% during the forecast period. Light-based aesthetic devices are working based on technologies using energy sources to revive the skin, improve the complexion and texture, and give a smoother and younger appearance. Light-based aesthetic devices application rate increased in recent years due to technological advancement and next-generation product availability. These devices eliminate unwanted imperfections and deliver the best outcomes.

Segmentation by Technology

• Laser-Based
• Light-Based
• Electromagnetic Based
• Ultrasound
• Cryolipolysis
• Others

INSIGHTS BY APPLICATIONS

a) Body contouring and skin tightening is a major segment that accounted for a 29.03% higher industry share in 2021. Body contouring is a medical aesthetic that demands non-surgical and surgical fat reduction devices. Due to the increasing obese population globally, the demand for fat reduction and body-shaping aesthetic procedures are significantly increased. Also, the increasing aging population is one of the key elements that demand skin tightening non-surgical aesthetic procedures, accelerating segmental growth.

b) The global energy-based aesthetic devices market for hair removal is growing at a CAGR of 11.10% during the forecast period. Globally more than 1.8 million non-surgical hair removal procedures were performed in 2020. Hair removal has been a major aesthetic treatment worldwide in the last few years. It demands energy-based devices, such as laser, light-based, and others. Factors contributing to the growth are increasing disposable income, rising awareness among people for aesthetic beauty, and wide access to hair removal treatments led to a rise in consumer spending on personal care, specifically on non-surgical hair removal.

Segmentation by Application

• Body-Contouring & Skin Tightening
• Skin Rejuvenation
• Hair Removal
• Vaginal Rejuvenation
• Leg Vein Treatment
• Others

INSIGHTS BY GENDER

The female segment accounted for 81.02% of the market share in the energy-based aesthetic devices market in 2021 and is expected to grow with a 10.42% CAGR during the forecast period. The higher knowledge and awareness about the aesthetic procedures and advantages of changing the look and body appearance are the factors that drive the higher segmental growth. Chinses, South Korean, the US, Indian, and other countries' women populations are highly attracted to body contouring and skin rejuvenation aesthetic procedures. The increasing use of internet applications and rising disposable income propel non-surgical aesthetic procedures. The pressure and changing thinking capabilities for many women towards the beauty look and body shape appearance deliver the high demand for energy-based devices performing aesthetic treatments. On another side, due to the influence of online influencers and celebrities, facial cosmetic procedures and fashion statements are some of the additional factors that deliver the high demand for aesthetic procedures and opportunities for energy-based aesthetic devices.

Segmentation by Gender

• Female
• Male

INSIGHTS BY END-USERS

The global energy-based aesthetic devices market by end-users is segmented into hospitals and skin clinics, medical spas and beauty centers, and others. The hospitals and skin clinics are the leading segment and accounted for 63.92% industry share in 2021. Hospitals and skin clinics are the primary sources for receiving skin care treatments. The introduction of energy-based aesthetic devices into hospitals, skin clinics, and clinical practices has transformed the field of dermatology. New technologies allow customized treatment and care options, expanding knowledge and broadening the practice's business with better services. The increasing access to new technology-based aesthetic devices in aesthetic settings accelerates this segmental growth. In addition, the promotional activities by the market players for the energy-based aesthetic devices among the hospitals and skin clinic settings fuel the segmental growth.

Segmentation by End-users

• Hospitals & Skin Clinics
• Medical Spa & Beauty Centers
• Others

GEOGRAPHICAL ANALYSIS

North America is the leading region in the global energy-based aesthetic devices market and accounts for a 40.37% market share. The presence of market players, high competition, and continuous product launches increase the application rate of energy-based aesthetic devices in the region. In addition, the high expenditure, growing awareness, and higher number of medical aesthetic practices across the region propelled the high industry growth. In the US, consumer interest in medical aesthetic treatments continues to rise due to the increasing concern about skin and body appearance is significantly high. The country's large pool of youth and geriatric population with high knowledge about medical aesthetic procedures and related higher expenditure are the key elements accelerating the country's minimally invasive and non-invasive procedures number. Thereby fueling the energy-based aesthetic devices market growth.

The European energy-based aesthetic devices market is growing at a CAGR of 11.58% during the forecast period. The increasing access to medical aesthetic procedures with the increasing expenditure for healthcare services and innovative product launches push people to minimally invasive procedures. On another side, the demand for anti-aging therapies, fat reduction non-surgical aesthetic procedures, and increasing demand for hair removal procedures highly influence the application rate of energy-based aesthetic devices and boosts the market growth in the region.

Segmentation by Geography

• North America
• US
• Canada
• Europe
• Germany
• Italy
• Russia
• UK
• France
• Spain
• APAC
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• South Africa

VENDOR LANDSCAPE

The global energy-based aesthetic devices market has been rapidly growing in recent years with increasing competition among the market players. The market includes leading, emerging, and start-up companies are trying to achieve significant growth by implementing various business strategies. Increasing promotional activities, product launches, product upgradation, and aesthetic care development are factors that influence the competition. Currently, many market players focus on new product deliveries as next-generation aesthetic care solutions. Rapid technological environment growth significantly impacts the overall market as patients and healthcare professionals seek innovative and advanced features in treatment devices. Most vendors in the market offer a wide range of minimally invasive body contouring devices.

Recent Developments In The Global Energy-Based Aesthetic Devices Market

• Cutera is a leading global aesthetics device company with a comprehensive product portfolio. In September 2020, it launched the Secret PRO, an ablative CO2 laser. The Secret PRO is designed for skin resurfacing and deep dermal remodeling.
• In 2017, the Bausch Health Companies launched its next-generation Thermage FLX product in the US, a fourth-generation non-invasive treatment option using the RF platform.
• Lumenis is well-known for its 360-degree aesthetic solution; in 2022, the company introduced a new triLift category in aesthetic treatments that will deliver revenue generation opportunities.

Key Vendors

• Bausch Health Companies
• Cynosure
• Cutera
• Lumenis
• Sisram Medical

Other Prominent Vendors

• AbbVie
• Aerolase
• Aesthetics Biomedical
• Asclepion Laser Technologies
• Beijing ADSS Development
• BISON Medical
• Brera Medical Technologies
• BTL Group of Companies
• Cartessa Aesthetics
• Candela Medical
• ENDYMED
• El. En
• Erchonia
• F Care Systems
• Fotona
• GSD - Global Skin Dermatologist
• InMode
• Lutronic
• Lynton Lasers
• Merz Pharma
• PhotoMedex
• Sciton
• Sofwave
• ThermiGen
• Venus Concept
• Wavemed SRL

KEY QUESTIONS ANSWERED

1. How big is the energy-based aesthetic devices market?
2. What is the energy-based aesthetic devices market growth?
3. Why is the energy-based aesthetic devices market booming?
4. Who are the key players in the global energy-based aesthetic devices market?
5. What are energy-based aesthetic devices?
6. Which region will dominate the global energy-based aesthetic devices market share?