A number of factors, such as the increasing awareness on energy-based aesthetic devices, rising medical tourism activities, and surging geriatric population across the globe are expected to boost the growth of the anti-aging and skin rejuvenation energy-based aesthetic devices market at an 11.2% CAGR during the forecast period (2019–2024). At this growth rate, the market size is expected to reach $1,612.2 million by 2024 from $872.0 million in 2018.
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The primary factor improving the market growth prospects is the rising medical tourism activities. Due to the rapid expansion of the medical sector, patients from developed nations, like the U.S., Australia, and the U.K., are traveling to emerging economies, such as India, Mexico, Singapore, and Thailand, to seek different treatments, including cosmetic surgeries. This is due to the low cost of treatments in these nations and rise in the awareness of people about energy-based aesthetic treatments, which, in turn, drives the demand for these devices.
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Geographically, the anti-aging and skin rejuvenation energy-based aesthetic devices market in the Asia-Pacific (APAC) region will witness the highest CAGR during the forecast period. This can be ascribed to the increasing awareness and adoption of energy-based aesthetic treatments, rising disposable income, improving healthcare infrastructure, reasonable cost of these devices, and growing concern for a better appearance in the regional population. Moreover, the growing medical tourism sector is also pushing the market, as the rising number of medical tourists are providing opportunities to the players to increase their revenue.
Thus, the surging geriatric population and the increasing medical tourism activities, along with the surging awareness on energy-based aesthetic devices, are expected to propel the growth of the market during the forecast period.
