The medical tourism industry in developing countries, including India and nations in Middle East and Africa (MEA), is advancing at a rapid pace. The major reasons for the growth of the industry are rapid globalization, increasing disposable income, and rising awareness regarding alternatives to surgical aesthetic treatments. People from developed countries, including Australia, the U.K. and the U.S. have been travelling to countries in the MEA region for seeking medical treatment, as they get cost-effective treatment in these countries. This, along with the increasing focus on physical appearance, is resulting in the increasing demand for energy-based aesthetic devices in MEA.
Access Detailed Report on MEA Energy-Based Aesthetic Devices Market Revenue Estimation
As per a report by P&S Intelligence, the MEA energy-based aesthetic devices market is expected to attain a value of $129.4 million by 2024, increasing from $87.6 million in 2018, progressing at a 6.9% CAGR during the forecast period (2019–2024). Different types of energy-based aesthetic devices on the basis of technology are light-based, laser-based, ultrasound-based, electromagnetic energy-based, plasma-energy based, suction-based, and cryolipolysis. Out of all these, the demand for laser-based devices was the highest in the past, which is due to the increasing awareness regarding safety levels of these devices as compared to other types of treatments.
In addition to this, the surging prevalence of skin diseases and growing number of dermatology and cosmetic clinics are also leading to the growing demand for these devices. Geographically, Saudi Arabia emerged as the largest MEA energy-based aesthetic devices market in the past and is further predicted to make the most use of these devices in the coming years as well. This is majorly attributed to the surging consciousness regarding health and appearance among the people. Moreover, the expanding medical tourism industry in the U.A.E. is also expected to lead to the increasing need for these devices in the country.
Hence, the increasing consciousness about appearance and growing medical tourism industry are driving the demand for energy-based aesthetic devices in MEA.
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