Aesthetic devices are ones that are used in aesthetic treatments. The market for aesthetic devices is one that is witnessing rapid growth thanks mainly to the growing demand for services such as body contouring, vision correction, hair removal, dermal tightening, laser resurfacing, and facial correction among others. Market analysts project that by 2017, this market is likely to reach a value of approximately USD 6.5 billion, demonstrating an estimated CAGR of 10.5%.
At the same time, this industry is faced with a pressing need to introduce safe, effective yet affordable treatments in order to ensure growth. Devices that are less complex and easier to operate are much sought after. Minimally invasive procedures are a buzzword in the aesthetic devices market, and consumers want to undergo procedures that are less painful and have a lower recovery time, while offering patients with permanent outcomes. Taking into consideration all these factors, it has become increasingly important for aesthetic device manufacturers to incorporate all of these features into their products. One finds that manufacturers are using the technique of incorporating several different technologies into a single device.
In the future, the growth of the aesthetic devices market will be fuelled by zero-side effect treatments and improved treatment results in fewer sittings. With this, the aesthetic devices market will witness higher levels of consumer confidence, and prices in the aesthetic treatment market will stabilize.
This sector is also likely to witness more mergers and acquisitions in the near future. However, companies need to be at par with the best industry standards in order to get a stamp of approval from regulatory authorities such as the FDA. Moreover, industry players also need to brace up for certain growth restraints such as the lack of medical reimbursements for aesthetic devices, and the fact that the middle class still continues to attach a social stigma to aesthetic treatment procedures.
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