Global Energy-based Aesthetic Devices Market - Focused Insights 2024-2029

MARKET INSIGHTS

The global energy-based aesthetic devices market was valued at USD 6.61 billion in 2023 and is expected to reach USD 12.80 billion by 2029, growing at a CAGR of 11.64% during the forecast period. The aesthetic devices market is experiencing significant growth, propelled by an expanding patient base, a rise in surgical interventions, rapid technological advancements in healthcare, and the proliferation of hospitals and aesthetic clinics. Energy-based aesthetic devices (EBDs) are gaining prominence due to their superior effectiveness, minimal downtime, accelerated recovery, and reduced incidence of adverse effects, thereby stimulating market expansion. EBDs represent cutting-edge solutions equipped with adjustable wavelengths, facilitating diverse aesthetic applications such as body contouring, skin rejuvenation, and resurfacing.

MARKET TRENDS & DRIVERS

Release of Innovative Energy-based Aesthetic Device

The energy-based aesthetic devices market has witnessed rapid growth, fueled by a surge in new product introductions, creating substantial opportunities. Leading and emerging companies are driving innovation with products like Cynosure's TempSure Firm, utilizing monopolar RF energy for body contouring and skin tightening, and Alma Lasers' Alma Duo, combining ultrasound and RF technologies for fat reduction and collagen stimulation. Notable 2023 launches also include Lumenis' Stellar M22, featuring advanced functionalities for faster and more comfortable treatments, and Fotona's StarWalker PQX, employing a high-powered picosecond laser for skin rejuvenation and tattoo removal. These innovations enhance treatment efficacy, improve patient comfort, and expand application capabilities, thereby accelerating market expansion.

Increased Accessibility to Safe & Effective Treatments

The growing demand for medical aesthetic treatments is fueled by technological innovations and the introduction of advanced energy-based solutions that offer enhanced safety and efficacy. These devices, subject to stringent regulatory approvals, have increased consumer trust by substantially shortening treatment and recovery periods compared to invasive alternatives, leading to heightened patient demand. The American Society for Laser Medicine & Surgery has observed a diversification in the use of energy-based devices, extending beyond skin resurfacing to include hyperhidrosis management, combination treatment protocols, photodynamic and photobiomodulation therapies, laser-mediated drug delivery, cervical rejuvenation, and scar revision. Laser-assisted drug delivery and combination therapies optimize skin aesthetics by enhancing targeted drug penetration and leveraging the combined benefits of multiple laser modalities. Laser-based devices are also critical in the management of hyperhidrosis, a condition affecting a significant portion of the population, underscoring the adaptability and expanding clinical applications of energy-based aesthetic treatments.

INDUSTRY RESTRAINTS

High Risks & Incrreased After-procedure Complications with Energy-based Devices

Despite their role in market growth, energy-based aesthetic devices (EBDs), classified as Class II medical devices, face significant hurdles due to potential complications. These devices, utilizing various energy modalities like lasers, can pose risks of skin injury, including scarring, thermal damage, and pigmentation irregularities. Different laser systems, such as those used for skin resurfacing and hair removal, present distinct operational challenges and potential complications. Patient skin characteristics, especially darker skin tones, influence treatment outcomes and increase the risk of adverse events. Serious complications, such as sustained erythema and thermal injuries, further restrict market penetration. Advancements in technology are critical for improving safety standards and ensuring the reliable performance of EBDs in medical aesthetic treatments.

SEGMENTATION INSIGHTS

• Insight By Technology: The energy device market includes lasers, light, ultrasound, and more. Lasers segment holds the largest market share. Anti-aging and hair removal are popular, growing the laser market. In 2022, laser hair removal, skin tightening, and fat reduction were in high demand. Laser hair removal is convenient, with devices like Alma Laser's Soprano Ice Platinum using multiple wavelengths. The main customers are aging individuals, people wanting to lose weight, and those wanting better skin.
• Insight By Gender: The global energy-based aesthetic devices market, segmented by gender, features female and male segments. The female segment is exhibiting notable growth, with the most rapid CAGR forecasted during the forecast period. This growth is fueled by the escalating adoption of cosmetic enhancements as a standard component of contemporary beauty and wellness routines. Procedures like liposuction, breast augmentation, blepharoplasty, and abdominoplasty account for a considerable portion of the surgical treatments performed on women.
• Insight By Application: Body contouring and skin tightening is the biggest part of the energy device market. People want facial enhancements and liposuction, both surgical and non-surgical. This is growing because of changing preferences, new technology, and more acceptance of treatments. New tech like fractional lasers and RF devices have made skin tightening and resurfacing better and safer.
• Insight By End User: The medical spa and beauty center segment is showcasing remarkable growth, with the highest forecasted CAGR during the forecast period. Medical spas (med spas) merge traditional spa offerings with clinical-grade aesthetic treatments. The proliferation of medspas is a direct response to the rising consumer demand for convenient, non-invasive cosmetic procedures in a serene, spa-inspired environment. Medspas serve as a flexible and trustworthy resource for non-surgical skin and body rejuvenation treatments, thus contributing to segment growth. Popular non-surgical medical aesthetic procedures offered in medspas include dermal fillers and microdermabrasion, benefiting millions of patients worldwide.
• Insight By Age Group: The 34-50 year age group commands the largest share of the global energy-based aesthetic devices market. The rising demand for aesthetic procedures within the 35 to 50 age bracket is driven by the growing accessibility and normalization of these treatments. Social media and the influence of celebrities and influencers openly documenting their cosmetic experiences have substantially reduced the stigma surrounding aesthetic enhancements. Moreover, this age group is increasingly adopting energy-based hair removal treatments, such as laser hair removal and IPL hair reduction, attracted by their long-term results and time-saving convenience. This demographic values the benefits of these treatments, which eliminate the need for frequent shaving or waxing, allowing for easy and consistent skin maintenance.

GEOGRAPHICAL ANALYSIS

The APAC region is exhibiting exceptional growth in the global energy-based aesthetic devices market, with the highest anticipated CAGR during the forecast period. The increasing demand for medical aesthetic procedures in APAC is primarily driven by its vast patient population and the growing number of elderly individuals pursuing cosmetic enhancements. Favorable demographic shifts and the rising prevalence of conditions amenable to aesthetic treatments are fostering market expansion. Enhanced access to medical aesthetic care and the ongoing development of these services throughout the region are further contributing to this upward trend. The market's accelerated growth is due to increased consumer spending on cosmetic procedures and the rapid integration of these treatments into lifestyle choices, notably among higher and middle-income patient groups.

COMPETITIVE LANDSCAPE

The global energy-based aesthetic devices market report offers exclusive data on 44 vendors, showcasing a dynamic market experiencing rapid growth driven by intense rivalry among established enterprises, emerging players, and start-up companies. Key strategic initiatives encompass enhanced promotional campaigns, frequent product innovations and upgrades, and ongoing advancements in aesthetic care. The development of novel products is a primary focus, with significant demand for next-generation solutions. Technological innovation is critical in meeting the demand for advanced treatment capabilities. Vendors are concentrating on comprehensive R&D, targeted marketing strategies, and expanding their product lines to achieve competitive advantages. Effective distribution networks enable market expansion amidst considerable competitive challenges. Leading companies, including Bausch Health Companies, Cynosure, Cutera, Lumenis, Sinclair, and Sisram Medical, are currently dominating the energy-based aesthetic devices market.