What are Major Factors Driving Growth of Energy-Based Aesthetic Devices Market?
The major factors driving the growth of the market are the increasing awareness amongst the people about the advantages of energy-based aesthetic systems, growing popularity of minimally invasive aesthetic treatment procedures, and soaring geriatric population across the world. Furthermore, the market will exhibit a CAGR of 10.4% from 2019 to 2024, according to the predictions of the market research company, P&S Intelligence.
The adoption of facial aesthetic treatment procedures by celebrities has tremendously increased the popularity of these treatment methods. Moreover, it has created awareness amongst the masses about these treatment methods and made these procedures more acceptable within the society. As per an article published by the Harley Academy, the lip filler treatment of Kylie Jenner in 2015 caused a 70.0% rise in enquiries related to aesthetic treatment procedures in the U.K. Furthermore, the popularity and social acceptance of non-surgical aesthetic treatments will increase sharply in the future years.
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Additionally, the soaring geriatric population is another important factor causing the surge of the energy-based aesthetic devices market. This is because of the fact that old age causes the gradual reduction of the glandular and vascular network in the various skin layers. In addition to this, with increasing age, the collagen (fibrous tissue that makes the skin strong) starts to become less flexible, which, in turn, causes dryness, wrinkles, skin sagging, and pigmentary alteration, thereby creating demand for energy-based aesthetic devices.
Geographically, the energy-based aesthetic devices market is predicted to register the highest growth in North America in the forthcoming years. This is credited to the existence of numerous well-established energy-based aesthetic device producing companies and the growing utilization of these devices in the North American nations. In North America, the market is predicted to hold the highest share in the U.S. in the future years, due to the rising availability of non-invasive treatment procedures in the country.