The global energy-based aesthetic devices market is expected to generate $4.6 billion revenue by 2024, advancing at a CAGR of 10.4% during the forecast period. Some of the key factors driving the market growth are increasing preference of the consumers for minimally invasive aesthetic treatments, rising awareness about the safety profile and advantages of energy-based aesthetic devices, and surge in geriatric population, according to P&S Intelligence.
Insights into Market Segments
On the basis of technology, the energy-based aesthetic devices market has been categorized into laser-based, light-based, electromagnetic energy-based, ultrasound-based, cryolipolysis, suction-based, and plasma energy-based devices. Among these, the laser-based aesthetic devices category is projected to lead the market, in terms of revenue, throughout the analysis period. While the electromagnetic energy-based aesthetic devices category is expected to progress at the fastest CAGR, of 11.7%, during the forecast period, mainly on account of the fact that these devices are less costly and are considered safest among other energy-based procedures.
On the basis of application, the energy-based aesthetic devices market has been categorized into hair removal, fat reduction and body contouring, facial and skin resurfacing/photo rejuvenation, skin tightening, cellulite reduction, and other applications. The hair removal application area accounts for the largest market share throughout the analysis period. Increasing awareness among consumers about the safety of laser and other energy-based devices, that are used for hair removal, is driving the demand in this category.
On the basis of distribution channel, the energy-based aesthetic devices market is classified into indirect and direct channels. Owing to the growing trend of online shopping and increasing inclination of consumer toward home-use products, such as laser hair remover and LED skin rejuvenating devices, the indirect distribution is projected to emerge as the larger revenue generating category in the market in the coming years.
On the basis of end user, the energy-based aesthetic devices market is classified into dermatology and cosmetic clinics, hospitals, and home-use. Among these, dermatology and cosmetic clinics as end-user category held over 70% share in 2018. This can be mainly attributed to the fact that many applications of energy-based aesthetic devices require a skilled professional to perform the treatment. Hence, most of the consumers prefer going to the dermatology and cosmetic clinics.
North America to Lead the Global Energy-Based Aesthetic Devices Market
Globally, the North American energy-based aesthetic devices market is expected to account for around 40% share by 2024. This can be mainly attributed to the presence of established players, and increase in the adoption of energy-based aesthetic devices in the region.
The energy-based aesthetic devices market in the U.S. is expected to hold 68.3% share of the North American market by 2024. The U.S. market is projected to propel at a CAGR of 10.1% during the forecast period, primarily on account of the increasing availability of technologically advanced, and non-invasive procedures, rising number of aesthetic surgeries and procedures; and increasing appearance consciousness among the consumers.
Browse report overview with detailed TOC on "Energy-Based Aesthetic Devices Market Research Report: By Technology (Laser-Based, Light-Based, Electromagnetic Energy-Based, Ultrasound-Based, Cryolipolysis, Suction-Based, Plasma Energy-Based), Application (Hair Removal, Facial and Skin Resurfacing/Photo Rejuvenation, Fat Reduction and Body Contouring, Skin Tightening, Cellulite Reduction), Distribution Channel, End-User, Geographical Outlook (U.S., Canada, Germany, Italy, Spain, U.K., France, Japan, China, India, Thailand, Brazil, Mexico, Argentina, Turkey, Egypt, South Africa) – Global Industry Analysis and Forecast to 2024" at:https://www.psmarketresearch.com/market-analysis/energy-based-aesthetic-devices-market
Energy-Based Aesthetic Devices Market Competitive landscape
The global energy-based aesthetic devices market is fragmented in nature with the presence of players such as Alma Lasers Inc., Syneron Medical Ltd., Merz Pharma GmbH & Co. KGaA, Lumenis Ltd., Cutera Inc., Hologic Inc., Sciton Inc., Bausch Health Companies Inc., Venus Concept Ltd., Genesis Biosystems Inc., IRIDEX Corporation and TRIA Beauty Inc.
Among these players, Alma Lasers Inc., Syneron Medical Ltd., Lumenis Ltd., Merz Pharma GmbH & Co. KGaA, and Cutera Inc. are the key players occupying major share in the energy-based aesthetic devices market. This is mainly on the account of their broad global presence and extensive product portfolio of energy-based aesthetic devices, which are being used for various applications such as hair removal, fat reduction and body contouring, scar removal, cellulite reduction and others.
ENERGY-BASED AESHTETIC DEVICES MARKET SEGMENTATION
Market Segmentation by Technology
Market Segmentation by Application
Market Segmentation by Distribution Channel
Market Segmentation by End User
Market Segmentation by Geography