US Aesthetic Lasers and Energy Devices Market Report – 2020 : Ken Research

• How the US Aesthetic Lasers and Energy Devices Market Is Positioned?The aesthetic lasers and energy devices market in the country has been immensely driven by the

rising obesity, aging population and per capita disposable income allowing the people to undergo cosmetic procedures. In CY2015, the aesthetic lasers and energy devices market in the US clocked revenue worth USD ~ million which increased by ~% from USD ~ billion in CY2015. The aesthetic lasers and energy devices market has experienced a substantial growth in the last five years majorly due to increased number of cosmetic procedures in the US and growing preference of the people towards non-invasive surgeries over invasive surgeries. There are several factors which have led to this growth such as rising geriatric population, per capita disposable income, high obesity rate, rising number of dermatologists and diversion of dermatologists towards cosmetic surgeries from reconstructive surgeries. Additionally, the technological advancements in the field has also forced the market clients

to upgrade their clinics with new and advanced equipment, adding revenue for the device manufacturers. Stand-alone devices contributed major share of revenue in the overall market. The segment contributed ~% share of the revenue in the overall market in CY2015. Presence of private or unorganized skin clinics which are focused towards the specialized treatment is the major reason which is responsible for providing stand-alone devices a lion share over multi-platform devices. The energy devices segment in the overall market has garnered ~% of the market revenues of stand-alone devices as observed in CY2015. Among the energy devices, the radiofrequency based energy devices captured the major share with around ~% of the revenue contribution in CY2015. Cryopolysis devices however, observed the fastest growth with growing preference of people towards minimally-invasive surgeries for fat removal procedures. High obesity rate further enhances its need in the US.

• How The Aesthetic Lasers And Energy Devices Market Has Performed? The number of aesthetic procedures in the US has increased to a high extent in previous years.

The US witnessed approximately 13 million aesthetic procedures in year 2015. Non-surgical procedures took the major share of the total number of procedures and have shown remarkable growth in the previous years. It has been observed that non-surgical aesthetic procedures have increased from ~% of total procedures in CY2010 to ~% in CY2015. The rise in number of non-surgical procedures has subsequently increased the demand for aesthetic lasers and energy devices in the US, hence generating revenue for the market players. Companies such as Cynosure, Inc., Syneron Candela, Cutera, and Lumenis among others have grabbed significant positioning in the aesthetic lasers and energy devices market.

These companies are observed to hold major share of the aesthetic lasers market making it consolidated in nature. However, it has been observed that the energy devices market is fragmented in nature with large number of players operating in the market. Three major players in the market captured only minimal share of the market. All these dominating companies in the market are focused towards innovation, mergers and acquisitions, and new product launches which help them to sustain their position in the competitive aesthetic devices. The companies have also focused their attention towards recurring revenue generating segment by including services and consumables in their portfolio.

The companies attract more number of customers through strong sales distribution network. Every market player operating in the company has a dedicated team of sales for handing sales and distribution of aesthetic lasers and energy devices in the US. These sales personnel sell their product through direct sales to clinics, company website, in trade shows, trade journals, workshops and conferences, and through direct mail programs. All these sales executives target dermatologists, plastic surgeons, primary care physicians, obstetricians, and gynecologists for selling their products successfully. These companies also provide after sales services and offers to exchange devices with technologically advanced equipment in lieu of discount for attracting more number of customers.

• Which Segments Have Driven Changes In US Aesthetic Lasers And Energy Devices Market?

High demand for hair removal, skin tightening and fat removal in the country has led to the demand for aesthetic lasers and energy devices in the US. The segment generated ~% revenue for the overall stand-alone aesthetic devices in the US in CY2015. The efficiency of energy devices to perform these procedures more precisely then lasers has assisted the segment in gaining dominance in the market.

RF devices constituted ~% of revenue share of energy devices in CY2015. The market experienced growth at the rate of ~% from CY2010 to 2015, reaching at a value of USD ~million in CY2015 from USD ~ in CY2010.Non-ablative lasers among aesthetic lasers segment also experienced high growth in the recent years. These lasers tend to be more advance in technology as compared to ablative lasers. Because non-ablative lasers does not resurface the skin as invasively as ablative lasers, multiple treatment sessions will be necessary to achieve desired clinical results. However, patients get benefited from no downtime and reduced risk of side effects. These lasers captured ~% of the revenue share in CY2015

Among the major types of non-ablative lasers, Nd:Yag lasers dominated the market with revenue share of ~% in CY2015. Their capability to perform multiple applications has provided the segment dominance over other type of lasers. Various types of ND: YAG lasers are available in the market, primarily used for removal of unwanted hair from darker skin type or from tanned skin. These lasers operate at a wavelength of 1,064 nanometer wavelength and could also be used for treatment of vascular facial veins, lesions leg, skin tightening and wrinkles.

What Is Driving The Body Contouring And Skin Tightening Devices Market In The US?The share of body contouring and skin tightening devices in total revenue of aesthetic lasers and

energy devices has inclined at a rapid pace at a growth rate of 11.2% from CY2010 to CY2015. High obesity rate has driven the demand for body contouring and skin tightening devices in the US. More than a third of the population is currently obese in the US.

It has been observed in the US, the rate of obesity exceeds 35% in three states including Arkansas, West Virginia, and Mississippi. 22 states have above 30%, 45 states have above 25% and every state is above 20%. It has also been projected by government agencies that this percentage would increase to 44% by 2030. A rapid growth in the overweight and obese populace has been augmenting the demand for the bariatric surgeries and body contouring treatment. Laser lipolysis being the major technology used for non-invasive body contouring procedures has witnessed maximum growth of ~% from CY2010 to CY2015

• How Aesthetic Skin Clinic Market In The US Has Performed?The skin care market in the US has experienced tremendous growth over the period of five years.

Increasing attention towards looks, high awareness about the pain-free non-invasive surgeries and desire to enhance appearance amongst both men and women are majorly responsible for surging number of footfalls in skin clinics in the country. The growth in the market is further fueled by high per capita disposable income, which permits the patients to opt for surgery as per their desire. It has been witnessed that the revenue of aesthetic skin clinics market in the country has transpired at a CAGR of ~% over the span of CY2010 - CY2015.

Unorganized skin clinics dominated the total skin clinics market in the US. Around ~% of the entire clinical space is acquired by private clinics and wellness centers in the calendar year 2015. These clinics primarily target women of over 22 years of age for acne and pigmentation removal, facial and under arm hair removal, skin lightening, and body contouring procedures. The clinics also target men of 25 years of age for body hair removal and body contouring procedures. The clinics secondary audience includes women of age group 40 and above for skin tightening, wrinkle removal and body tightening procedures. The growth in skin clinics market directly affects demand for aesthetic devices in the US. Sono Bello, LVSCC, Radiant Complexions Dermatology Clinic, Skin Spirit, and Beleza Medspa are observed to be major organized aesthetic skin clinics observed in the US market.

• On What Factors Does Purchase Decisions Regarding Aesthetic Lasers And Energy Devices Depend?

The aesthetic skin clinics operating in the country want to procure devices, which enable the cosmetologists and clinic officials to provide demanded treatments to the customers. The treatments which are majorly demanded in the US include skin rejuvenation, hair removal, sclerotherapy and non-surgical fat reduction. Primarily, the applications of the device and the efficiency of to perform the procedure accurately is essential parameter which affects the purchase decision of the customers.

The choice for stand-alone device and multi-platform device is another important parameter which is important to be considered before purchasing any aesthetic laser or energy device. It has been observed that stand-alone systems are preferred by the aestheticians, which are providing only one or two type of services in the clinic. The high-budget clinics catering large number of patients also get inclined towards stand-alone devices to perform multiple procedures at one time. However, small to medium budget clinics prefer multi-platform devices. These clinics opt for multi-platform devices to perform multiple procedures from one device. This not only saves the money but also reduces the space required for storing equipment. Moreover, the multi-specialty devices also have portability feature which also encourages people to buy easy to move multi-platform devices over bulky stand-alone devices.

Cost-benefit analysis is most essential factor which needs to be accounted to determine before buying any aesthetic lasers and energy devices, which includes careful analysis of the laser system with respect to technology, stability, consumables cost, cost per treatment, customization options, availability of spare parts and others. This also includes contemplation of laser specifications such as spot size, pulse duration, technology used, peak power and others to have an idea about the effectiveness, efficiency and suitability of the product. Possible side effects of the system should also be considered while cost-benefit analysis to determine an aesthetic laser system. Choice of manufacturing company and reviews of the company and its products further affects the purchase decision of the customers. Educational and marketing material provided by the company, training provided by the company on the machine and availability of local service engineers are majorly counted while choosing manufacturing company.

Reviews and testimonials from renowned dermatologists, and skin clinics also encourages the customers to opt for equipment without any hesitation. Additionally, marketing strategies such as free after-sales services and easy availability of disposables also impact the purchase decision. Clinical trial evidence is also one such major aspect which needs to be considered while making purchase decisions. The clients who opt to purchase innovative and technologically-advanced equipment for their clinics could evaluate the clinical trial results to have satisfaction about the efficacy of the device. The clinical trial data provides information about success-failure ratio, side effects observed in the patients and time-frame for the complete procedure, which helps doctor in planning the procedure time and schedule.

• How Is The Aesthetic Lasers Market Valued In Future?US aesthetic lasers and energy devices market is poised to have a rapid growth over the period

CY2016-CY2020. Surge in the number of people opting for minimally-invasive and non-invasive surgeries for cosmetic procedures would impact the market strongly during the forecast period, CY2016 - CY2020. The aging population in the country as well as rising obesity among the adult population has been driving the need to undergo skin rejuvenation, body contouring and skin tightening procedures overall. . In 2010, 40 million people aged 65 years and above were residing in the US in 2010, accounting for 13% of the total population. The baby boomers started turning 65 in year 2011, and the population of older people is expected to increase drastically from 2011 to 2030 period. The older population in 2030 is projected to be twice as compared to 2000, growing from 35 million to 72 million, representing nearly 20% of the total US population. Rising geriatric population will directly impact the demand for demand for aesthetic devices among the US aesthetic providers to cater increased demand for cosmetic procedures, which will subsequently result in increased sales of aesthetic devices for conducting more number of aesthetic procedures.

Rising trend among market players to manufacture energy devices for body contouring procedures and low cost of the device with ability to perform procedures efficiently is also going to impact the market revenue of energy devices in positive manner. Rising obesity in the country which stood at 33% in 2015 and is expected to reach 44% by 2020 would lead to increase in demand for body contouring devices. Syneron Candela has also acquired VelaShape and UltraShape technology to increase their body shaping devices portfolio. The share of multi-platform devices is projected to increase as organized skin clinics and med spas are expanding in the market. Additionally, dermatologists are moving from reconstructive surgery towards cosmetic surgeries and prefer the devices which could perform multiple functions. Decrease in the reimbursement value of reconstructive surgeries is the major factor which has led to this development in the market.

Non-ablative lasers market would experience rapid growth of ~% from CY 2016 to CY 2020. Capability of ND:Yag lasers and diode lasers to effectively perform skin rejuvenation procedures would augment the demand for non-ablative lasers. Increasing number of cosmetic surgeries, growing number of dermatologists, high consumer awareness, and low reimbursement on reconstructive surgeries are some of the microeconomic factors which would impact the market in future.

• What Have Been The Trends For Aesthetic Lasers And Energy Devices Market In US? Body contouring and skin tightening devices have witnessed a positive growth in the market

in terms of demand. High percentage of overweight and obese people in the US has attributed toward the surge in number of people opting for liposuction and cellulite treatment, which consequently affected the sales of the aesthetic lasers and energy devices. It has been estimated that one third of the population of the US was obese in year 2015 and it has also been estimated that this number could increase to 44% by 2020. Moreover, the annual revenue of US weight loss industry, which included diet books, diet drugs and weight loss surgeries, was approximately USD 20 billion in 2012.

Consequently, the total addressable market for body contouring services in the country has inclined, with escalating interest of men and women in fat destruction procedure. Home-use aesthetic devices emergence into the market has also affected the market scenario. Various market players have focused their attention towards the development of home-use aesthetic devices. Tria Hair Removal laser system by Tria Beauty is one such revolutionary product which has grabbed the attention of the customers towards home-use aesthetic devices. This device is used by people to remove hair from small area of the body without intervention of any physician. Moreover, few market players have also focused their attention towards the development of home-use aesthetic devices. For instance, Syneron Candela along with Unilever Ventures has planned to develop home-use aesthetic devices under the brand name Illuminage Beauty. The revenue generated from direct customers who purchased home-use aesthetic devices contributed USD ~million in CY2015 in total revenue. Rising popularity of aesthetic procedures among men is also fueling the market for aesthetic lasers and energy device. Choice of cosmetic procedures among men has increased the target audience for skin clinics, which is subsequently affecting the demand for aesthetic lasers and energy devices in the market. . Men of all age groups and all professions are undergoing plastic surgery for cosmetic reasons such as more balanced nose, a trimmer waistline, and a rejuvenated face. Over the past five years, various cosmetic procedures for men have shown significant increase. Among non-surgical procedures, use of botulinum toxin and hyaluronic acid has increased by 84% and 94% and demand for nonsurgical skin tightening and intense pulsed light among men has experienced 37% and 44% growth respectively.

Men had more than 1.2 million procedures performed in 2015, which account for 9.5% of the total procedures. Among the major procedures male breast reduction for the treatment of Gynecomastia showed growth of 26% in 2015, with 30,464 procedures performed in 2015. Expanding medspa industry, which provides wide range of aesthetic surgeries in its portfolio, is also leading to increased demand for aesthetic lasers and energy devices in the US. Medical spas nowadays offer services such as hair removal, tattoo removal, fat removal, and skin rejuvenation in their services portfolio. Advantage to provide these services along with hygienic and high-class environment is the major factor which has been driving the medspa industry in the US. Various organized medspa are also observed to be gaining popularity in recent times in the US. Beleza medspa is one such organized medspa which is operating in four cities with its six ceneters.

• Source: https://www.kenresearch.com/healthcare/medical-devices/us-aesthetic-lasers-energy-devices-market/18663-91.html

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