|Status : Published||Published On : Sep, 2021||Report Code : VRHC1208||Industry : Healthcare||Available Format :||Page : 272|
The global anti-aging and skin rejuvenation energy-based aesthetic devices market was valued at USD 850.0 million in 2020 and is expected to grow at a CAGR of 8.8% during the forecast period (2021–2027). The major factors driving the growth of the market are extensive popularity of home used energy based aesthetic devices along with extensive inclination amongst users for improving their physical appearance. With the utilisation of slightly invasive technology energy-based aesthetics are used for treatment of body and skin defects.
Furthermore, increasing trend amongst consumer for using home-based products such as LED skin rejuvenating devices and laser hair remover are thus driving the growth of energy based aesthetic devices and is further contributing towards the growth of global anti-aging and skin rejuvenation energy-based aesthetic devices.
Technological progressions pertaining to laser technology such as creation of laser light delivery systems that utilise fiber optics on the nanometer scale are used for treatment of several medical conditions and disease. Moreover, laser devices have become exceedingly advanced in terms of portability of hand held diode lasers that are thereby creating ample opportunities for global anti-aging and skin rejuvenation energy-based aesthetic devices market at rapid pace.
Insight by Technology
On the basis of technology, the global anti-aging and skin rejuvenation energy-based aesthetic devices market is categorized into light-based, ultrasound-based, laser-based, plasma energy-based, and electromagnetic energy-based. Amongst these segments, the laser-based segment is anticipated to contribute largest revenue throughout the estimated period as laser-based technique has been utilised in aesthetic treatments for skin rejuvenation, removal of fine line, wrinkle reduction, signs of aging and removal of vascular lesion. As a result to these benefits laser based segment is further estimated to contribute to the growth of the global anti-aging and skin rejuvenation energy-based aesthetic devices market at significant rate.
Insight by Indication
On the basis of indication, the global anti-aging and skin rejuvenation energy-based aesthetic devices market is segmented into skin rejuvenation, and anti-aging, wherein skin rejuvenation is expected to be the faster growing category in the market during the forecast period. This is due to the fact that energy-based procedures offer safe treatments and are also low in cost. Therefore, all age groups of men and women are becoming inclined toward these treatments for enhancing their appearance.
Insight by Application
On the basis of application, the global anti-aging and skin rejuvenation energy-based aesthetic devices market is categorized into skin tightening, fine line & wrinkle reduction, scar treatment, and oxygenation, wherein skin tightening category held the largest share in the market in 2020, owing to the growing geriatric population, as aging leads to the reduction of collagen in the skin.
Increasing responsiveness among consumers pertaining to safe usage and advantages of anti-aging and skin rejuvenation energy based aesthetic devices along with extensive inclination towards minimally invasive aesthetic treatments are the key factors that are anticipated to drive the growth of global anti-aging and skin rejuvenation energy-based aesthetic devices market. The consumers are rapidly aiming at improving quality, tone, texture and appearance of their skin and with the use of advanced laser techniques individuals are witnessing rejuvenated and improved skin texture that is thereby damaged by discoloration, sun exposure and other skin related syndromes.
Furthermore, non-surgical facelift, micro needling therapy, ablative skin resurfacing and intense pulsed light therapy are the few laser therapy and energy based devices that are exceedingly being used globally and is thus accentuating the growth of the global anti-aging and skin rejuvenation energy-based aesthetic devices market. Additionally, enhancement in geriatric population is another factor pertaining towards the growth of global anti-aging and skin rejuvenation energy-based aesthetic devices market.
Lack of reimbursement policies is the key factor that is anticipated to hamper the growth of global anti-aging and skin rejuvenation energy-based aesthetic devices market in the near future.
Anti-aging and skin rejuvenation energy-based aesthetic devices market in North America is anticipated to generate largest revenue by 2027 owing to increasing popularity pertaining to energy based aesthetic devices amongst working class population. There has been increasing stress amongst working woman to improve upon their appearance and thus enhance physical appearance and is thus escalating the growth of anti-aging and skin rejuvenation energy-based aesthetic devices market in North America.
Moreover, anti-aging and skin rejuvenation energy-based aesthetic devices market in Asia-Pacific is expected to witness highest CAGR during the forecast period owing to flourishing growth in global medical tourism sector and it is considered to create vital opportunities for key players to enhance revenue. Additionally, availability of cost-effective aesthetic treatments and increasing disposable income of population in this region is another factor driving the growth of anti-aging and skin rejuvenation energy-based aesthetic devices market in Asia-Pacific.
The eminent key players in the global anti-aging and skin rejuvenation energy-based aesthetic devices market are undertaking considerable investment decisions and launching new products in order gain competitive advantage.
Some of the players having prominent presence in the global anti-aging and skin rejuvenation energy-based aesthetic devices market include Alma Lasers Inc., Hologic Inc., Allergan plc, Bausch Health Companies Inc., Cutera Inc., Syneron Medical Ltd., Merz Pharma GmbH & Co., EL.EN. S.p.A., TRIA Beauty Inc, Lumenis Ltd. KGaA, Sciton Inc., EndyMed Medical Ltd., LightStim Quasar Biotech Inc., and Venus Concept Ltd.
- Identifying variables and establishing market impact.
- Establishing market trends regionally.
- Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.
- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.
- Analyzing sustainability strategies adhered by market participants in an attempt to determine future course of the market.
- Analyzing historical market trends and super-imposing them on the current and future variables to determine year-on-year trend.
- Understanding adoption, production, export, import and regulatory framework.
- Estimated and forecasted data was validated through industry experts.
- Apart from industry experts, data triangulation methods were used for validation.
- Bottom up and top down approach has been used for estimation and forecast of market data, whereas top down approach was used for validation.
- Demand as well as supply side surveys were conducted in order to understand the industry dynamics and data validation.
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry includes, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behaviour.
Source: VynZ Research
Source: VynZ Research