Global Radiofrequency-Based Aesthetic Devices Market Report 2021-2030: Leveraging Home Healthcare Trend to Market At-Home Devices & Synergies to Expand into Emerging Markets
DUBLIN, July 26, 2021 /PRNewswire/ -- The "Global Radiofrequency-Based Aesthetic Devices Market: Focus on Product Type, End User, Modality, Application, Technology, Sales Channel, COVID-19 Impact, Technology Landscape, and Over 22 Countries' Data - Analysis and Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The radiofrequency-based aesthetic devices report highlights that the market was valued at $1,052.6 million in 2020 and is expected to reach $3,204.1 million by the end of 2030. The market is expected to grow at a CAGR of 12.11% during the forecast period from 2021 to 2030.
The integration of radiofrequency (RF) waves is one of the technological advancements in treatment delivery wherein RF waves are utilized for heating and killing of cells in the patient's body. The RF waves are used in various medical specialties, including aesthetics. The competition in the global radiofrequency-based aesthetic devices market is set to intensify in the future, owing to new market entrants and patent expiration.
Most of the players in the market have been operating in the industry for at least five years and have crossed the funding phase. Market players have been observed to accelerate the regulatory approval process and increase their R&D efforts to support more product launches.
The business synergies that have taken place recently indicate an increased focus on market expansion across regions. The demand for radiofrequency-based aesthetic devices is expected to grow on the backdrop of an increasing consumer base for cosmetic treatments, across the globe, especially in the Asia-Pacific region.
Global Radiofrequency-Based Aesthetic Devices Market Drivers
Presently, the factors driving the growth of the market as per the global radiofrequency-based aesthetic devices market report include growing demand for minimally invasive procedures and treatments, technological advancements in radiofrequency-based devices, and more health and cost benefits compared to alternative aesthetic treatments.
One of the major technological breakthroughs in the field of surgery in the past few years has been minimally invasive surgeries (MIS). The increase in demand is attributed to persistent efforts to achieve the desired surgical output with minimum complications, recovery time, and hospital admissions.
Radiofrequency-based aesthetic devices are used for minimally invasive treatments such as RF microneedling, which is used to rejuvenate the appearance of skin. In addition, advancements in radiofrequency-based aesthetic devices feature combinations of multiple technologies. These technological advancements are pushing the key market players to come up with developed products to perform radiofrequency ablation and aesthetic procedures.
Presently, the factors driving the growth of the market as per the global radiofrequency-based aesthetic devices market report include growing demand for minimally invasive procedures and treatments, technological advancements in radiofrequency-based devices, and more health and cost benefits compared to alternative aesthetic treatments.
Global Radiofrequency-Based Aesthetic Devices Market Challenges
The challenges that are restricting the growth of the market include lack of reimbursement policies for aesthetic treatments, lack of skilled personnel for aesthetic treatments, and high-cost associated with radiofrequency-based aesthetic treatments.
The high cost of radiofrequency-based aesthetic treatments acts as a major restraint in the low- and middle-income countries (LMICs). Insurance providers are required to make considerable initiatives to reform existing reimbursement policies, and the lack of these reimbursement policies in case of aesthetic treatments can hamper the growth rate of these treatments. In addition, these treatments also require skilled specialists to perform the procedure. Otherwise, temporary swelling and burns are observed. Not having skilled personnel can also be a factor for lower adoption rates of this technology by end users.
Global Radiofrequency-Based Aesthetic Devices Market Opportunities
Potential opportunities that are likely to boost the growth of the market include leveraging the home healthcare trend to market at-home devices and leveraging synergies to expand into emerging markets.
The COVID-19 pandemic has led to healthcare-at-home becoming a highly preferred mode of healthcare. The pandemic has changed the way individuals receive healthcare. Thus, home healthcare is trending in many aspects of healthcare.
The concept of at-home radiofrequency-based aesthetic treatments is not new and has been on the market before the pandemic began. Moreover, a wide array of economical machines and devices have been introduced, which can also be used by non-professionals for the use of radiofrequency-based devices at home.
In addition to promoting at-home care, manufacturers of radiofrequency-based aesthetic devices can also partner with local healthcare providers and companies to promote their products in the local market, which can lead to positive financial results and a wide consumer base.
Company Profiles
- Alma Lasers Ltd.
- Beco Medical Group
- Cymedics
- Cynosure, Inc.
- EndyMed Ltd.
- Ibramed
- INDIBA S.A.
- Inmode Ltd.
- Lumenis Ltd.
- Lutronic Corp.
- SharpLight Technologies Ltd.
- Syneron Medical Ltd. (Candela Corporation)
- Venus Concept Inc.
- Viora
- Ya-Man Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/e7rk3x
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