Dublin, July 16, 2024 (GLOBE NEWSWIRE) -- The "Energy based Aesthetic Devices (EAD) - Market Insights, Competitive Landscape, and Market Forecast - 2030" report has been added to ResearchAndMarkets.com's offering.
Energy-Based Aesthetic Devices Market was valued at USD 3.36 billion in 2023, growing at a CAGR of 8.93% during the forecast period from 2024 to 2030, to reach USD 5.60 billion by 2030.
Cmpanies are continuously focused on developing and launching new devices in the market. For instance, recently in the year 2020, Alma, a Sisram Medical Company, launched the DermaClear 3-in-1 Skin Hydradermabrasion Platform in Europe. It is a powerful hydra dermabrasion platform for skin exfoliation, cleansing, extraction, and hydration, designed to meet the increasing demand for high-quality, risk-free, and thorough skincare treatments. Therefore, such initiatives from companies are expected to help the market and the patients in their treatment which will drive the energy-based aesthetic devices market growth.
However, certain factors such as the high cost of these aesthetic devices are likely to impede the growth of the energy-based aesthetic devices market.
Energy-Based Aesthetic Devices Market Segment Analysis:
In the Energy-Based Aesthetic Devices technology segment, laser-based aesthetic devices are expected to hold the largest market share in the year 2023. This is owing to its wide cosmetic applications such as skin tightening, hair reduction, fat destruction, and tattoo removal, among others.
Moreover, laser treatment targets aging and sun-damaged skin with microscopic laser columns that penetrate deep into the skin to expedite the body's remodeling of collagen. And since the laser treats only a fraction of tissue at a time, it leaves the surrounding tissue intact, which promotes very rapid healing.
In addition, recent commercialization activities among the manufacturers to expand the laser technology-equipped aesthetic device portfolio are also expected to boost the market. For instance, in August 2020, Sensus Healthcare, Inc. announced the acquisition of two mobile aesthetic laser companies serving the State of Florida: Aesthetic Mobile Laser Services, and Aesthetic Laser Partners. In addition, in 2019, Alma Laser entered into a strategic partnership with IBSA (a market leader in hyaluronic acid products) to promote a new approach to aesthetic treatment. Hence, all the mentioned factors are likely to fuel the Energy-Based Aesthetic Devices market during the forecast period.
North America is expected to dominate the overall Energy-Based Aesthetic Devices Market:
North America is expected to dominate the overall Energy-Based Aesthetic Devices market in the year 2023 and is expected to do the same during the forecast period from 2024 to 2030. This domination is owing to the developed and advanced healthcare system in the region along with an increase in product demand due to rising related procedures and rising healthcare expenditure.
Further, in the United States, the factors that are expected to contribute to the growth of the Energy-Based Aesthetic Devices market include growing awareness regarding various aesthetic procedures among the population, the exponentially rising obese population in the region, and the growing adoption of minimally invasive and non-invasive devices.
For instance, according to the New Plastic Surgery Statistics released by the American Society of Plastic Surgeons (ASPS) shows there were nearly a quarter-million more cosmetic procedures performed in 2018 than in the year 2017. Also, according to the ASPS annual plastic surgery statistics report, there were more than 17.7 million surgical and minimally-invasive cosmetic procedures performed in the United States in 2018. The statistics also revealed a rise in new trends in body-shaping procedures, with a spike in non-invasive fat reduction, as well as surgeries such as breast augmentations and liposuction.
In addition, the presence of key market players and subsequent product launches also play a pivotal role in augmenting the market in the region. For instance, in March 2019, Sciton Inc., a manufacturer of aesthetic and medical laser and light source technology, launched the latest version of its flagship platform JOULE X at the American Society of Laser Medicine and Surgery (ASLMS) annual meeting in Colorado, Canada. JOULE X is a multi-device platform with customizable laser and light performance. Thus, the aforementioned factors are likely to upsurge the market for energy-based aesthetic devices in the region.
Furthermore, the Asia-Pacific region has the future potential growth for energy-based aesthetic devices. This is due to the improving healthcare infrastructure, rising disposable income, and rising old age population, among others.
Frequently Asked Questions for Energy-Based Aesthetic Devices Market:
What are Energy-based aesthetic devices?
Energy-based aesthetic devices are used to address a wide range of aesthetic applications such as skin resurfacing, skin tightening, and body contouring, among others. These devices are based on minimally invasive and non-invasive technology.
What are the drivers for Energy-Based Aesthetic Devices?
The major drivers driving the demand for Energy-Based Aesthetic Devices are rising technological advancement, a rising number of aesthetically conscious patients globally, and an increasing geriatric population worldwide.
What are the key players operating in Energy-Based Aesthetic Devices?
Some of the key market players operating in the energy-based aesthetic devices market include Alma Lasers, Candela Medical., Lumenis., Cutera., Hologic Inc., Sciton Inc, Merz Pharma GmbH & Co.KGaA, Bausch Health Companies Inc., Venus Concept., TRIA BEAUTY, Cynosure Inc., SharpLight Technologies Inc, and others.
Which region has the highest share in the Energy-Based Aesthetic Devices market?
North America is expected to dominate the overall Energy-Based Aesthetic Devices market in the year 2023 and is expected to do the same during the forecast period from 2024 to 2030. This domination is due to the developed and advanced healthcare system in the region along with an increase in healthcare expenditure.
Energy-based Aesthetic Devices (EAD) Market Key factors analysis
Energy-based Aesthetic Devices (EAD) Market Drivers
- The increasing geriatric population globally
- The rising number of aesthetically conscious patients
- The increasing technological and product development activities
Energy-based Aesthetic Devices (EAD) Market Restraints and Challenges
- High Costs of aesthetic devices
- Low awareness among the population in low and middle-income countries
Energy-based Aesthetic Devices (EAD) Market Opportunities
- The upcoming trends in the anti-ageing industry
- The growing preference for minimally invasive surgeries
Company Profiles
- Alma Lasers
- Cutera Inc.
- Cynosure
- Genesis Biosystems Inc.
- Lumenis
- Sciton
- Solta Medical
- Syneron Medical
- YOLO Medical Inc.
- Venus Concept, and others.
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