Status : Published Published On : Sep, 2019 Report Code : VRHC1204 Industry : Healthcare Available Format : Page : 142

Global Energy-Based Aesthetic Devices Market – Analysis and Forecast (2019-2024)

Industry Insights by Technology (Light-Based (IPL, LED), Laser (Nd: YAG, Ruby, Er:YAG, CO2, Potassium Titanyl Phosphate, and Alexandrite), Electromagnetic Energy (Diode-Laser, Infrared, Radiofrequency Devices), Cryolipolysis, Ultrasound, Suction-Based, Plasma Energy), by Application (Facial and Skin Resurfacing/Photo Rejuvenation, Skin Tightening, Hair Removal, Fat Reduction and Body Contouring, Cellulite Reduction), by Distribution Channel (Direct, Indirect), by End-User(Hospitals, Home-Use, Dermatology Clinics), by Geography (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Japan, China, India, Australia, South Korea, Brazil, U.A.E, Saudi Arabia, South Africa, South Africa)

Industry Overview

The global energy-based aesthetic devices market was valued at USD 2,484.7 million in 2018, which will grow at a CAGR of 11.1% during the forecast period. Several devices such as light-based, laser, electromagnetic, and cryolipolysis majorly contribute to the energy-based aesthetic devices market size. Increasing geriatric population, increasing the prevalence of skin diseases, increasing awareness for personal and beauty care, demand for the minimally invasive aesthetic procedure, propelling the growth of the market.

Market Segmentation

Insight by Technology

On the basis of technology, the global energy-based aesthetic devices market is categorized into light-based, laser, electromagnetic energy, cryolipolysis, ultrasound, suction-based, plasma energy, wherein laser-based devices hold the largest share in the market. The laser-based devices are also anticipated to witness significant growth during the forecast period due to the increasing demand for laser treatments in various procedures and technological advancements. Laser based devices are further categorized into neodymium-doped yttrium aluminum garnet (Nd: YAG), ruby, erbium-doped yttrium aluminum garnet (Er:YAG), carbon dioxide (CO2), potassium titanyl phosphate, and alexandrite.

Light based devices are categorized into intense pulse light (IPL) and light emitting diode (LED), whereas electromagnetic devices are categorized into diode-laser, infrared, and radiofrequency devices.

Insight by Application

Based on application, the energy-based aesthetic devices market is segmented into facial and skin resurfacing/photo rejuvenation, skin tightening, hair removal, fat reduction and body contouring, and cellulite reduction. Among all the application, hair removal is the most common application of energy-based aesthetic devices. The sale of energy-based hair removal devices will remain the highest during the forecast period. Increasing popularity of laser hair removal procedure is one of the primary factor leasings to the demand for hair removal devices.

Insight by Distribution Channel
Based on distribution channel, the energy-based aesthetic devices market is segmented into the direct and indirect channel. Among the two categories, the sale of these devices through direct channels is anticipated to grow at the faster rate during the forecast period. This is primarily due to the higher margin for manufacturers and lower prices for consumers through direct sales. With the increasing demand for home-use devices and booming e-commerce industry, manufacturers are using their own website as direct sales growth strategy.

Insight by End User

Based on end user, the energy-based aesthetic devices market is segmented into hospitals, home-use, dermatology clinics. The home-use energy based aesthetic devices market is expected to witness the fastest growth in demand during the forecast period, the technological advancements and development of hand-held devices.

Industry Dynamics

Trends

The development of home-use devices is the key trend witnessed in the market. Major companies are focusing on the development of hand-help and miniaturization devices convenient for home-use.

Growth Drivers

Global energy-based aesthetic devices market has been driven by several key factors, predominantly demand for minimally invasive aesthetic procedure, increasing geriatric population, increasing prevalence of skin diseases. Moreover, increasing awareness for personal and beauty care across the globe is propelling the demand for advanced aesthetic devices. Energy-based devices help in minimally invasive procedures thus creating immense revenue growth opportunities for the manufacturers.

Restraints

The high cost of energy-based devices and lack of reimbursement policies for aesthetic procedures impede the growth of the global energy-based aesthetic devices market.

Geography Insight

Geographically, North America is the largest energy-based aesthetic devices market as the region is home to a large number of industry players and also has the highest healthcare expenditure globally. Moreover, high disposable income in the region leads to high out of pocket expenditure by consumers in North America especially in the U.S. According to the World Bank, the GNI per capita in the U.S. was $48,880 in 2010 and increased to $58,700 in 2016. Also, as per the data reported by the same organization, the U.S. health expenditure per capita was $7,949.9 in 2010 and it increased to $9,535.9 by 2015. 

Asia-Pacific is observed to witness the fastest growth in the market. As the region comprises of largest population and the awareness for these devices is increasing rapidly among them. In addition, a large number of local players in the region are providing energy-based devices at low cost which lead to increased rivalry in the market.

Competitive Insight

Some of the key players operating in the global energy-based aesthetic devices market are Syneron Medical Ltd., IRIDEX Corporation, Merz Pharma GmbH & Co.KGaA, Alma Lasers Inc., Lumenis Ltd., TRIA Beauty Inc., Hologic Inc., Cutera Inc., Sciton Inc., Venus Concept Ltd., Bausch Health Companies Inc., and Genesis Biosystems Inc.

Forecast Parameters

- 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 the future course of the market.
- Analyzing historical market trends and super-imposing them on the current and future variables to determine the year-on-year trend.
- Understanding adoption, production, export, import, and regulatory framework.

Data Validation

- 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.

Primary Research

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 include 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.

Energy-Based Aesthetic Devices Market Analysis

Place an order

Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle