In 2017, the American Society for Dermatologic Surgery (ASDS) had said that the number of people who wanted a cosmetic procedure had swollen up by two times since 2013. This clearly shows how important looking good is for people these days. With the rising influence of fashion magazines and TV shows and social media and increasing number of people employed in the corporate sector, appearance consciousness has grown manifold in the last decade or so.
Browse In-depth Energy-Based Aesthetic Devices Market Revenue Forecast Report
As a result, compared to 17,902,692 in 2018, 18,160,785 cosmetic procedures were performed in the U.S. in 2019, according to the American Society for Aesthetic Plastic Surgery (ASAPS). Moreover, of the total procedures performed in 2018 and 2019, 16,090,952 and 16,349,031, respectively, were minimally invasive procedures. Citing such stats, P&S Intelligence expects the energy-based aesthetic devices market to grow from $2.6 billion in 2018 to $4.6 billion in 2024, at a healthy 10.4% CAGR between 2019 and 2024.
This is because devices using different types of energy, including laser, light, electromagnetic energy, ultrasound, suction, and plasma energy, as well as cryolipolysis devices, are being used for minimally invasive aesthetic procedures. The key drivers for the popularity of minimally invasive surgeries (MIS) are their shorter duration, lower cost, fewer side-effects, lesser operational and post-op discomfort, and lesser scarring compared to open surgeries. Moreover, with time, the awareness on the safety quotient and advantages of energy-based devices for minimally invasive aesthetic procedures has increased.
For instance, laser-based procedures for fine line, wrinkle, and skin laxity reduction are approved by the U.S. Food and Drug Administration (FDA). In addition, several of the energy-based aesthetic devices mentioned above can be easily used at homes. For instance, ultrasound-based devices, originally designed for skin rejuvenation procedures, have been modified to remove impurities and dirt from the face, without any technical expertise. This not only saves people the time spent in visiting a cosmetic center but also the price they would have paid there.