A number of factors, such as the increasing inclination toward minimally invasive aesthetic treatments, expanding medical tourism industry, booming aging population, and surging public awareness about the safe use and benefits of advanced medical devices, are expected to drive the anti-aging and skin rejuvenation energy-based aesthetic devices market at a healthy CAGR, of 11.2%, during the forecast period (2019–2024). According to P&S Intelligence, the market was valued at $872.0 million in 2018, and it is expected to generate $1,612.2 million revenue by 2024.
Access Report Summary – Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market Segmentation Analysis
One of the key growth drivers for the market is the booming aging population. Old age results in dryness, wrinkles, skin sagging, and pigmentary alteration, owing to the loss of fibrous tissues and reduced glandular and vascular networks in skin layers in aged people. The World Population Ageing 2020 report estimated that the population of individuals aged 65 years or above will rise from 727 million in 2020 to over 1.5 billion by 2050. Anti-aging devices help in minimizing the visual effects of skin aging by tightening and revitalizing the skin, thereby giving a younger look.
The technology segment of the anti-aging and skin rejuvenation energy-based aesthetic devices market is categorized into laser-based, ultrasound-based, light-based, electromagnetic energy-based, and plasma energy-based. Among these, the laser-based category generated the highest revenue in 2018, as the laser is one of the earliest energy-based technologies used in aesthetic treatments for skin rejuvenation, aging sign minimization, acne removal, fine line removal, wrinkle reduction, double chin fat reduction, and vascular lesion removal. Owing to the widening application base of laser-based devices, this category will retain its market dominance throughout the forecast years.
Thus, the soaring elderly population and the rising technological advancements in energy-based aesthetic devices will contribute to the market growth in the coming years.