Energy-Based Aesthetic Devices Market is Projected to Offer Opportunity Worth USD 13.28 Billion by 2032, at 5.89% CAGR: Astute Analytica

The energy-based aesthetic devices market enjoys surging demand fueled by the popularity of non-invasive procedures. Botox, fillers, and skin rejuvenation treatments drive growth. Women remain the primary market, but men’s interest is rising. Positive consumer sentiment and affordability bolster the market’s strong outlook.

New Delhi, March 26, 2024 (GLOBE NEWSWIRE) — The global energy-based aesthetic devices market is projected to reach a valuation of US$ 13.28 billion by 2032, up from US$ 4.56 billion in 2023, at a CAGR of 5.89% during the forecast period 2024–2032.

The global cosmetic procedure landscape in 2022, with its 30.4 million surgical and non-surgical treatments, highlights a significant opportunity for the market. The overwhelming preference for non-invasive procedures (64% of the market) directly favors these devices, which are central to treatments like skin tightening, nonsurgical fat reduction (1.6 million procedures), hair removal (4.3 million procedures), and photorejuvenation (1.2 million). Additionally, the popularity of botulinum toxin injections (7.4 million) and hyaluronic acid fillers (5.1 million) often relies on the precision and efficacy offered by energy-based devices during administration.

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Increasing interest in cosmetic procedures among men, demonstrated by a 16% rise from 2021 to 2022, suggests a growing customer base for energy-based devices market that address concerns like body sculpting and hair removal. The dominance of millennials (47% of all procedures), a tech-driven generation, further supports the appeal of innovative energy-based treatments.

The United States, as the largest cosmetic procedure market with 5.5 million procedures (18% of the global total), represents a well-established demand for energy-based devices. Moreover, the anticipated rapid expansion of the Asia-Pacific market indicates a significant potential for these devices, fueled by increasing disposable income and greater emphasis on appearance.

Key Findings in Energy-Based Aesthetic Devices Market

Market Forecast (2032) US$ 13.28 billion
CAGR 5.89%
Largest Region (2023) North America (35.27%)
By Product Laser Based Aesthetic Devices (42.6%)
By Gender Female (77.1%)
By End Users  Hospitals (32.8%)
Top Trends
  • Demand for minimally invasive and non-invasive procedures
  • Focus on combination therapies for enhanced results
  • Growing popularity of at-home aesthetic devices
Top Drivers
  • Increased awareness and acceptance of cosmetic procedures
  • Technological advancements leading to safer and more effective treatments
Top Challenges
  • High cost of some energy-based aesthetic devices
  • Regulatory complexities in different markets

Lased Based Aesthetic Devices are the Most Popular, Generate More Than 42% Market Revenue

Laser-based aesthetic devices are commanding the energy-based aesthetic devices market, holding a substantial 42.63% share. This dominance stems from their proven ability to provide visible skin tightening and rejuvenation. Lasers stimulate collagen production with infrared light, leading to smoother skin and wrinkle reduction. Fractional lasers excel, potentially improving skin texture and wrinkles by up to 50%. Crucially, lasers offer these benefits without the downtime of surgical procedures, making them highly attractive to consumers.

While lasers reign supreme, other energy-based technologies hold significant potential. Radiofrequency (RF) devices promote skin tightening by heating tissue, while also addressing cellulite, acne, and fat. Monopolar RF (like Thermage) demonstrates impressive results, with 87% of patients experiencing improved skin laxity after just one treatment.

HIFU (High-Intensity Focused Ultrasound) is a newer contender using focused ultrasound for deep lifting and tightening. Devices like Ultherapy have a 67% patient satisfaction rate, suggesting strong consumer appeal. Light-based devices (like IPL) tackle pigmentation, redness, and other concerns, with 82% of patients reporting significant improvements after treatment.  Ultrasound devices like the FDA-cleared Ulthera System stimulate collagen for non-invasive lifting, boasting an 89% improvement in skin laxity six months post-treatment.

Strong Impact of Medical Tourism on Energy-Based Aesthetic Devices Market

Several factors fuel the growth of medical tourism and the corresponding demand for energy-based aesthetic devices.  Significantly lower costs for cosmetic procedures in certain countries compared to nations like the US are a primary driver.  Alongside this, there’s an overall increase in aesthetic concerns and demand for beauty enhancement procedures. Furthermore, the rise in demand for procedures not covered by insurance, like aesthetic surgery, further propels the market. Wherein, the increasing population seeking medical aesthetic treatments directly translates to solid growth for the energy-based aesthetic devices market. Recognizing this demand, many companies prioritize new product development and launches within this space. Medical tourism, particularly for cosmetic procedures, appears to be a significant factor in the increased sales and adoption of these devices.

Medical tourism extends beyond healthcare, having a multifaceted impact on the social, economic, and political spheres of a nation.  It’s a major contributor to economic growth and has a multiplier effect, positively influencing allied sectors like tourism and hospitality. The increased demand for aesthetic procedures spurred by medical tourism encourages investment in healthcare infrastructure, offering further economic benefits.

North America is the Epicenter of Global Energy-based Aesthetic Devices Market, Captured Over 35% Revenue Share

The United States represents a major hotspot for the energy-based aesthetic devices market in North America due to an environment of high demand and widespread acceptance of cosmetic procedures. For instance, more than 22.2 million cosmetic procedures were performed in the US in the year 2022. A recent Astute Analytica’s study reveals that 25% of the Americans have undergone at least one cosmetic procedure in their lifetime. The normalization of these procedures in American culture is fueled by several factors. Celebrities openly discussing their experiences have helped reduce stigma, while reality TV shows spotlighting plastic surgery further contribute to this normalization.  This social acceptance drives demand for the wide range of non-invasive procedures offered by U.S. surgeons, covering almost every part of the body. Injectables like Botox, lasers for skin resurfacing, and non-invasive lifting techniques are readily sought-after. Notably, procedures like lip augmentation and eyelid surgery have witnessed significant surges of 45% and 35% respectively in recent years.

The convenience of “lunch break procedures” further bolsters the U.S. energy-based aesthetic devices market. Quick, relatively painless treatments like Botox injections are easily accessible to Americans with busy schedules. This accessibility adds to the overall appeal and drives demand for energy-based devices that enable these procedures. Moreover, the U.S. is a hub for technological innovation in aesthetic treatments. Advancements lead to natural-looking results, greater safety, and reduced downtime – all key features attracting consumers. A strong cultural emphasis on youthfulness underpins the robust U.S. market. Non-invasive procedures, often powered by energy-based devices, offer a solution to combat signs of aging like wrinkles, uneven skin tone, and sagging. This desire to maintain a refreshed, youthful appearance creates a consistent demand for the technologies that enable such treatments.

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Demographic Analysis: Women are the Leader Consumers, Contribute Over 77% Revenue

The remarkable popularity of non-invasive cosmetic procedures, with a 23% increase in 2022 and 14% overall growth in the aesthetic sector, highlights a significant opportunity for energy-based aesthetic devices. These devices are essential for many popular treatments, including Botox administration, laser hair removal, skin resurfacing, and various forms of skin tightening and rejuvenation. The fact that non-surgical procedures comprised 83% of the market in 2008 and drove the $11.8 billion spent on aesthetic procedures in 2022 further underscores this connection.

The dominance of women (77.13% market share ) suggests a large existing market for providers using energy-based devices. However, the growth of male clients (over 1.5 million minimally invasive procedures in 2022) indicates an expanding market, especially as devices offer solutions for concerns like body sculpting and hair removal. Shifts in age demographics also favor energy-based devices, as Generation X and Baby Boomers turn to non-invasive solutions to address aging concerns.

The popularity of specific procedures directly dictates device demand. The surge in Botox and dermal fillers often necessitates precision-focused energy-based devices during administration. Additionally, the consistent demand for laser hair removal, hyaluronic acid treatments, chemical peels, and laser skin resurfacing highlights the importance of devices specializing in those treatments. The lower average cost of minimally invasive procedures ($530 – $1800), compared to surgical options, aligns with the growing accessibility and widespread appeal of non-invasive treatments powered by energy-based devices.

Company News and Product Launches in Global Energy-Based Aesthetic Devices Market

  • In 2020, InMode introduced EVOLVE, an FDA-cleared non-invasive hands-free platform for tissue remodeling, skin treatment and muscle toning.
  • In April 2021, Sinclair acquired Cocoon Medical to expand in the energy-based aesthetic devices market.
  • In June 2022, Cynosure launched PicoSure Pro, a new 755nm picosecond laser device.

Global Energy-Based Aesthetic Devices Market Key Players

  • Alma Lasers
  • Candela Medical
  • Lumenis Be Ltd.
  • Cutera, Inc.
  • Hologic, Inc.
  • Sciton, Inc.
  • Merz Pharma GmbH & Co. KGaA
  • Venus Concept Inc.
  • Bausch Health Companies Inc.
  • TRIA Beauty, Inc.
  • SharpLight Technologies

Key Segmentation:

By Product

  • Laser Based Aesthetic Device
  • Radiofrequency (RF) Based Aesthetic Device
  • High-Intensity Focused Ultrasound (HIFU) Based Aesthetic Device
  • Light Based Aesthetic Device
  • Ultrasound Aesthetic Device
  • Others

By Gender

  • Male
    • 18 Years & Below
    • 19-34 years
    • 35-50 Years
    • 51-64 Years
    • 65 years & Above
  • Female
    • 18 Years & Below
    • 19-34 years
    • 35-50 Years
    • 51-64 Years
    • 65 years & Above

By End Use

  • Hospitals
  • Ambulatory Surgical Centers
  • Beauty Centers and Medical Spas
  • Dermatology Clinics
  • Home Settings
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)
  • South America

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About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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