Rising Medical Tourism Driving Anti-Aging and Skin Rejuvenation Energy-Based Aesthetic Devices Market

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In 2018, the global anti-aging and skin rejuvenation energy-based aesthetic devices market generated a revenue of $872.0 million and is predicted to reach $1,612.2 million in 2024, registering a 11.2% CAGR during the forecast period (2019–2024).

This is due to the rising medical tourism, awareness about the safe use and advantages of anti-aging and skin rejuvenation energy-based aesthetic devices, geriatric population, and inclination toward minimally invasive aesthetic treatments. These devices are utilized for performing various virtually painless, fast, and non-invasive or minimally invasive aesthetic treatments by making use of different energy-based technologies.

On the basis of technology, the anti-aging and skin rejuvenation energy-based aesthetic devices market is divided into light-based, ultrasound-based, laser-based, electromagnetic energy-based, and plasma energy-based. Out of these, the laser-based technology accounted for the major share of the market (28.3%) in 2018 as it is increasingly being adopted for performing different aesthetic treatments for skin rejuvenation, signs of aging, and other applications. Attributed to these factors, the division is also expected to dominate the market during the forecast period.

 

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When application is taken into consideration, the anti-aging and skin rejuvenation energy-based aesthetic devices market is categorized into fine lines & wrinkle reduction, oxygenation, skin tightening, and scar treatment. Among these, the largest share of the market was held by the category of skin tightening during the historical period (2014–2018). This was because of the increasing geriatric population, as aging results in the reduction of collagen in the skin, and anti-aging and skin rejuvenation energy-based aesthetic devices can be useful for treating the sagginess of the skin.

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A key trend in the anti-aging and skin rejuvenation energy-based aesthetic devices market is the rising popularity of home-use energy-based aesthetic devices. Ascribed to this, the manufacturers have started focusing on the development of easy-to-use products that can be utilized in home settings without needing any technical expertise and are less expensive. For example, ultrasound-based devices, which are generally used for skin rejuvenation, are also being used for removing impurities and dirt present on the face. Such technical advancements are further predicted to drive the market.

Thus, the market is growing due to the growing popularity of home-based aesthetic devices, rising medical tourism, and increasing inclination toward minimally invasive aesthetic treatments.