Energy based Aesthetic Device market to witness a CAGR of 10.4%
Energy-Based Aesthetic Devices Industry Outlook, 2019-2024 – Laser-Based Devices Projecting Robust Demand
The global energy-based aesthetic devices market reached a value of $2.6 billion in 2018, and it is predicted to witness a CAGR of 10.4% during 2019-2024 (forecast period).
Rise of minimally invasive treatments
The various factors driving the growth of the market are the surging geriatric population, rising awareness about the safety and advantages of such devices, and inclination toward minimally invasive treatments. Energy-based aesthetic devices use plasma, laser, radiofrequency, intense pulsed light (IPL), and other forms of light, heat, or sound energies to perform fast, virtually painless, non-invasive or minimally invasive treatments.
On the basis of technology, the energy-based aesthetic devices market is divided into electromagnetic energy-based, ultrasound-based, suction-based, cryolipolysis, plasma energy-based, light-based, and laser-based. The laser-based division held the largest share of the market during the historical period (2014-2018), and it is predicted to register a CAGR of 10.1% during the forecast period. This is due to its several applications in aesthetics, such as fat and cellulite reduction, and hair, vascular lesion, and acne removal. The electromagnetic energy-based devices division is expected to witness the highest CAGR during the forecast period.
Do it at home!
A key trend in the energy-based aesthetic devices market is the increasing popularity of home-use devices. Due to the growing adoption of these devices, manufacturers are focusing toward developing easy-to-use and less expensive products which can be used at home without any technical expertise. For example, the ultrasound-based devices used for skin rejuvenation are also being used for removing dirt and impurities from the face. Technical advancements like this are currently trending in the industry and attracting a large consumer base toward these devices, which is positively impacting the market.
Another key factor driving the growth of the energy-based aesthetic devices market is the rising awareness regarding the safety and advantages of such devices. The several advantages of energy-based aesthetic devices include quick recovery, fewer side-effects, minimal skin invasion, and lesser discomfort as compared to conventional surgical methods, which are painful and costly. Owing to these advantages, energy-based aesthetic devices are being adopted increasingly.
Factors of growth
The increasing inclination toward minimally invasive treatments is leading to the growth of the energy-based aesthetic devices market. Surgical cosmetic procedures are not cost-efficient and can be medically unsafe, resulting in various side-effects. Since energy-based aesthetic devices have led to the betterment of minimally invasive procedures, their demand is increasing significantly. Hence, due to the increasing awareness about the advantages of energy-based aesthetic devices and growing preference toward minimally invasive treatments, the market is growing considerably.
Source: PR News Wire