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 growing patient population, increased surgical procedures, rapid advancements in healthcare technology, and the increasing number of hospitals and beauty centers drive the market. In addition, energy-based aesthetic devices are highly effective, lower downtimes, rapidly recover, and lower the risk of side effects. This factor attracts a higher population and drives market growth.

Energy-based aesthetic devices (EBD) are advanced solutions developed with adjustable wavelengths, allowing for multiple aesthetic and cosmetic procedures. They perform many aesthetic applications, such as body contouring, skin tightening, resurfacing, and more.

MARKET TRENDS & DRIVERS

New Product Launches in Energy-based Aesthetic Devices

The energy-based aesthetic devices market has experienced rapid growth due to numerous new product entries, fostering significant opportunities. Leading and emerging companies are developing innovative products, such as Cynosure's TempSure Firm, which uses 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. Lumenis introduced the Stellar M22 with advanced features for faster, more comfortable treatments, while Fotona's StarWalker PQX utilizes a high-powered picosecond laser for skin rejuvenation and tattoo removal. These 2023 launches highlight ongoing innovation, enhancing treatment efficacy and patient comfort and expanding application capabilities, thus driving market expansion.

Increase in Accessibility to Safe & Effective Treatments

Medical aesthetic treatments have gained popularity due to technological advancements and new product launches, providing safer and more effective energy-based solutions. These devices, cleared by stringent regulations, have boosted customer confidence by significantly reducing treatment and recovery times compared to invasive procedures, thereby increasing patient demand. Their ease of use and cost-effectiveness attract both traditional and non-traditional practitioners. This shift towards non-invasive treatments has made medical aesthetic procedures more accessible, with a rising application rate for various treatments. The American Society for Laser Medicine & Surgery has observed increased use of energy-based devices beyond skin resurfacing to address hyperhidrosis, combination therapies, photodynamic therapy, photobiomodulation, laser-assisted drug delivery, neck rejuvenation, and scar removal. Laser-assisted drug delivery and combination therapies enhance skin appearance by improving targeted drug delivery and utilizing multiple laser devices. Laser-based devices are also essential in treating hyperhidrosis, affecting 4% of the American population, demonstrating the versatility and expanding applications of energy-based aesthetic treatments.

INDUSTRY RESTRAINTS

Risks & After-procedure Complications with Energy-based Devices 

Energy-based aesthetic devices, classified as Class II by regulatory bodies, have driven market growth but face significant barriers due to associated complications. These devices use various energy sources (e.g., lasers) that can potentially damage skin, leading to risks like scarring, burns, and dyspigmentation. Different types of lasers (e.g., resurfacing hair removal) present specific challenges and complications. Skin type, especially darker tones, affects treatment outcomes and increases risks of adverse effects. Severe complications such as prolonged erythema and heat-related issues further hinder market acceptance. Technological advancements are crucial to improving safety standards and reliability in using these devices for medical aesthetic procedures.

SEGMENTATION INSIGHTS

INSIGHT BY TECHNOLOGY

The global energy-based aesthetic devices market by technology is segmented into laser-based, light-based, electromagnetic-based, ultrasound, cryolipolysis, and others. The laser-based segment accounted for the largest market share. The increasing popularity of energy-based anti-aging procedures and the high demand for hair removal treatments have fueled the growth of laser-based aesthetic procedures. In 2022, procedures like laser hair removal, skin resurfacing, skin tightening, and non-surgical fat reduction saw a surge in demand, contributing to market expansion. Laser hair removal, in particular, is seen as a convenient and non-invasive option, with devices like Alma Laser's Soprano Ice Platinum providing versatile solutions by combining three wavelengths for optimal treatment. The primary demographic driving the demand for these non-invasive laser-based procedures includes aging individuals, those concerned with obesity, and people focused on improving their skin appearance.

INSIGHT BY GENDER

The global energy-based aesthetic devices market by gender is categorized into female and male. The female segment shows significant growth with the fastest-growing CAGR during the forecast period. The segment dominance is attributed to the growing acceptance of cosmetic enhancements as part of modern beauty and wellness practices. Liposuction, breast augmentation, blepharoplasty, and abdominoplasty had a significant share in the total surgical procedures performed on females.

INSIGHT BY APPLICATION

Based on the application, the body contouring & skin tightening segment holds the largest global energy-based aesthetic devices market share. There is a growing demand for facial enhancement and Liposuction of aesthetic concerns. These procedures encompass surgical and non-surgical options to improve facial symmetry, contour, and overall appearance. The growth is supported by evolving consumer preferences, technological advancements, and increasing awareness and acceptance of aesthetic treatments worldwide. Technological advancements have been a significant driver in the skin tightening and laser resurfacing markets. Innovations like fractional laser technology, advanced RF devices, and combination treatments have enhanced these procedures' efficacy, safety, and patient satisfaction.

INSIGHT BY END USER

The medical spa & beauty centers segment shows prominent growth, with the highest CAGR during the forecast period. Medical spas (med spas) and beauty centers blend traditional spa services with medical-grade aesthetic treatments. Their rise reflects the growing consumer demand for accessible, non-invasive cosmetic procedures that can be performed in a relaxing, spa-like environment. Medspas are a more flexible and reliable source for non-invasive and non-surgical treatments to rejuvenate the skin and body, thus helping the segment's growth. Popular non-surgical medical aesthetic treatments in Medspas include dermal fillers and microdermabrasion, benefiting millions of patients worldwide.

INSIGHT BY AGE GROUP

Based on age group, the 34-50 years segment dominates with the largest global energy-based aesthetic devices market share. The growing demand for aesthetic procedures in the 35 to 50 age group is also fueled by the increasing accessibility and normalization of these treatments. The rise of social media and the influence of celebrities and influencers openly sharing their cosmetic journeys have significantly reduced the stigma around aesthetic enhancements. Moreover, the 34-50 age group is also increasingly adopting energy-based hair removal treatments. Procedures like laser hair removal and IPL hair reduction are appealing due to their long-lasting results and convenience. This demographic values the time-saving benefits of these treatments, as they eliminate the need for frequent shaving or waxing, allowing them to maintain smooth skin with minimal effort.

GEOGRAPHICAL ANALYSIS

The Asia-Pacific (APAC) region is witnessing significant growth, with the highest-growing CAGR in the global energy-based aesthetic devices market. The surge in demand for medical aesthetic procedures in APAC is primarily driven by its substantial patient population and the rising number of elderly individuals seeking cosmetic enhancements. The favorable demographic trends and the increasing prevalence of conditions that can be addressed through aesthetic treatments propel market growth. Enhanced access to medical aesthetic care and the ongoing expansion of such services across the region further fuel this upward trajectory. The market is experiencing rapid growth, attributed to increasing expenditure on cosmetic procedures and the swift acceptance of these treatments. This growth is particularly pronounced among the higher and middle-income patient segments, increasingly adopting aesthetic procedures as part of their lifestyle changes.

COMPETITIVE LANDSCAPE

The global energy-based aesthetic devices market report includes exclusive data on 44 vendors. The market is experiencing rapid growth driven by intense competition among leading, emerging, and start-up companies. Key strategies include increased promotional activities, frequent product launches and upgrades, and advancements in aesthetic care. New product development is a focal point, with next-generation solutions in high demand. Technological advancements are pivotal in meeting the demand for innovative treatment features. Vendors focus on extensive R&D, marketing efforts, and expanding product portfolios to gain competitive advantages. Robust distribution networks facilitate the market's expansion despite significant competitive barriers. Bausch Health Companies, Cynosure, Cutera, Lumenis, Sinclair, and Sisram Medical are some leading players currently dominating the energy-based aesthetic devices market.