The global anti-aging and skin rejuvenation energy-based aesthetic devices market was valued at $872.0 million in 2018, which is projected to reach $1,612.2 million by 2024, progressing at a CAGR of 11.2% during the forecast period (2019–2024). Based on indication, the skin rejuvenation category is expected to witness faster growth, at a CAGR of 11.5%, during the forecast period, owing to the fact that such devices are more technologically advanced and widely adopted for skin rejuvenating procedures, which is a major reason for the category’s growth.
Rising Appearance Consciousness is a Key Trend in the Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market
In recent times, not only women, but men have also become conscious about their appearance, and they now have a desire to look young and healthy. These trends have been driving the anti-aging and skin rejuvenation energy-based aesthetic devices market by encouraging consumers to elect treatment solutions, including intense pulsed light (IPL), laser, and plasma energy-based devices. As these treatments do not have any side-effect and provide treatments in quick time, consumers are opting for them over surgical procedures. According to the American Society for Dermatologic Surgery (ASDS), in 2017, the number of people in the U.S. who wanted to opt for a cosmetic treatment had doubled since 2013. Adding to this, according to the American Society for Aesthetic Plastic Surgery (ASAPS), in 2012, around 43.0% of the population between 31 and 45 years of age opted for one or more cosmetic procedures to overcome the visible impacts of the natural aging process.
Market for Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices is Likely to Witness Significant Progress Due to Growing Medical Tourism
It has been observed that the rapid expansion of the medical industry due to globalization is helping increase the awareness of people about alternatives to surgical aesthetic treatments, in turn, driving the anti-aging and skin rejuvenation energy-based aesthetic devices market. Over the past few years, patients from advanced and developed countries, such as the U.S., the U.K., and Australia, have traveled to India, Turkey, South Africa, Mexico, Singapore, Costa Rica, Thailand, and other emerging economies to seek treatment. Cosmetic surgeries are one of the top medical services, for which patients are traveling from developed nations to emerging economies. This is mainly because less costly treatment is offered in emerging economies compared to developed countries. For instance, according to the Turkish Healthcare Travel Council (THTC), in 2017, Turkey hosted 756,000 patients from 144 countries, which directly added $7.2 billion to the Turkish economy.
Segmentation Analysis of Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market
Geographical Analysis of Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market
North America is expected to account for the largest share in the anti-aging and skin rejuvenation energy-based aesthetic devices market by 2024, followed by Europe. Together, North America and Europe are expected to account for a 65.3% market share in 2024. This can be mainly attributed to the presence of established players and rising geriatric population, along with the surging consciousness among people about their appearance.
Other regions, which include APAC, LATAM, and MEA, also hold considerable shares in the anti-aging and skin rejuvenation energy-based aesthetic devices market on account of the rapid expansion of the aesthetics industry due to globalization, which is, in turn, increasing the awareness among consumers about alternatives to surgical aesthetic treatments.
Competitive Landscape of Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market
The anti-aging and skin rejuvenation energy-based aesthetic devices market is fragmented in nature with the presence of giant players, such as Cynosure Inc., Alma Lasers Inc., Syneron Medical Ltd., Lumenis Ltd., Cutera Inc., Solta Medical Inc., Candela Corporation, Sciton Inc., and EL.EN. S.p.A.
Browse report overview with detailed TOC on "Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market Research Report: By Technology (Laser-Based, Light-Based, Electromagnetic Energy-Based, Ultrasound-Based, Plasma Energy-Based), Indication (Skin Rejuvenation, Anti-Aging), Application (Skin Tightening, Fine Line & Wrinkle Reduction, Scar Treatment, Oxygenation), Distribution Channel (Direct, Indirect), End User (Dermatologists/Cosmetologists, Beauticians, Clinicians), Geographical Outlook (U.S., Canada, Italy, Germany, France, Spain, U.K., Japan, India, China, Australia, Brazil, Mexico, Saudi Arabia, South Africa) – Global Industry Trends and Growth Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/anti-aging-and-skin-rejuvenation-energy-based-aesthetic-devices-market
The players in the anti-aging and skin rejuvenation energy-based aesthetic devices market are adopting product launches and mergers and acquisitions as a key strategy to maintain their position. For example, in March 2019, Sciton Inc. unveiled the latest version of its flagship platform, JOULE X, at the annual American Society for Laser Medicine and Surgery Meeting (ASLMS), held on March 27–31 in Denver, Colorado. JOULE X is a multi-device platform with customizable laser and light performance.
Moreover, in September 2018, Candela Corporation, an energy-based aesthetic device manufacturing company, acquired Ellipse, a privately held Danish medical device company, to manufacture and market IPL and laser-based platforms for a wide variety of medical and aesthetic skin treatments.
Some other important players operating in the global anti-aging and skin rejuvenation energy-based aesthetic devices market are Allergan Plc, Merz Pharma GmbH & Co. KGaA, Hologic Inc., Bausch Health Companies Inc., Venus Concept Ltd., EndyMed Medical Ltd., LightStim Quasar Biotech Inc., and TRIA Beauty Inc.
Market Segmentation by Technology
Market Segmentation by Indication
Market Segmentation by Application
Market Segmentation by Distribution Channel
Market Segmentation by End User
Market Segmentation by Geography