Energy-based Aesthetic Devices Market Trends

Growth Drivers

• Rising demand for breast augmentation and liposuction procedures: The energy-based aesthetic devices market is poised to expand owing to the increasing usage of complementary treatments for breast-related procedures. Radiofrequency or ultrasound devices are used for pre and post-surgical tightening while lasers are applied for scar management. The growing percentage of breast augmentation procedures globally is creating lucrative opportunities for key players in the industry to increase the supply of energy-based devices that support the procedure. For instance, the International Society of Aesthetic Plastic Surgery (ISAPS) estimated liposuction and breast augmentation to be the most popular cosmetic procedures globally from 2022 to 2023. Liposuction procedures incorporate laser or ultrasound-based devices to liquefy fat and improve skin elasticity after the procedure.
  
  Recent advancements in energy-based devices bode well for the sector by offering opportunities for businesses to forward innovative solutions. For instance, in May 2023, Apyx Medical Corporation announced clearance from the U.S. Food & Drug Administration (FDA) for the use of Renuvion (helium plasma and radiofrequency technology) in procedures for the coagulation of soft tissues following liposuction.
• Growing consumer awareness, aesthetic trends, and disposable income: The energy-based aesthetic devices market is poised to expand owing to rising consumer awareness for cosmetic procedures worldwide, supported by beauty trends and a growing rate of disposable income. For instance, the American Society of Plastic Surgeons published a study reporting macroeconomic trends in the U.S. had an impact on traditional aesthetic procedures while microeconomic trends had an impact on minimally invasive aesthetics. In August 2024, the Organization for Economic Co-operation and Development (OECD) reported real household income per capita in the OECD rose by 0.9% in the first quarter of 2024, indicating favorable trends for the global energy-based aesthetic devices market with an expected increase in spending for aesthetic procedures.
  
  Furthermore, the evolving aesthetic trends play a significant role in the market’s growth. There has been a shift towards treatments offering natural-looking enhancements devoid of traditional surgical procedures over the years. Such trends drive demand for energy-based aesthetic devices as laser-based skin resurfacing becomes popular. With the evolving contemporary beauty standards fueled by media, the demand for energy-based devices in cosmetic procedures is expected to heighten by the end of the forecast period.
• Rapid expansion of medical tourism: The rapid growth of the medical tourism sector is a major driver of the energy-based aesthetic devices market as the growing footfall of medical tourists seeking aesthetic procedures drives demand for energy-based devices. Furthermore, evolving marketing trends have led to investments by cosmetic clinics in targeted ad campaigns based on contemporary beauty trends, such as the popularity of Korean aesthetics, to attract medical tourists. Additionally, the expansion of clinics offering cosmetic procedures expands end users for energy-based aesthetic devices creating favorable opportunities for the sector’s growth.
  
  Brazil, Japan, Turkey, China, South Korea, and India, are among the top medical tourism destinations for cosmetic procedures. Global players in the energy-based aesthetic devices industry find greater opportunities to expand the supply of their products to the emerging markets in these countries. For instance, in October 2024, SONIRE Therapeutics Inc., from Japan, announced the designation of its next-generation HIFU (High-Intensity Focused Ultrasound) therapy system as a breakthrough device by the FDA. The advancements are indicative of the cutting-edge aesthetic procedures available in countries that are popular destinations for medical tourism in cosmetic procedures.

Challenges

• Intense market competition and rapid advancements: The rapid technological innovation in the energy-based aesthetic devices market is beneficial, but can also prove to be a market challenge due to frequent product entrants. Companies must invest continuously in R&D to remain competitive in the sector which can cause a strain on operations. Additionally, the emergence of viral skincare routines such as the salmon sperm facial, often propelled by celebrities, can become alternative non-invasive treatments causing a challenge for the sector.
• Risk of adverse effects: The adoption rate of energy-based aesthetic devices can be stymied in case of side effects such as scarring, burns, etc. Patient dissatisfaction can cause repercussions in the market’s growth. Furthermore, the failure of any device offered by a business can severely impact the revenue share of the company with alternatives readily available in the competitive market.