The integration of radiofrequency (RF) waves is one of the technological advancements in treatment delivery wherein RF waves are utilised 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.
The Radiofrequency-Based Aesthetic Devices Market 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.
Figure: Global Radiofrequency-Based Aesthetic Devices Market, $Million, 2019, 2020, and 2030
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.
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.
Who should buy this report and why?
- Radiofrequency-based aesthetic device manufacturers
o The report provides detailed information on the market dynamics, opportunities, and the current and future impact of market trends.
o Cross-segmentation analysis has been provided for each region by key segments.
o Analysis of the COVID-19 impact on the radiofrequency-based aesthetic devices market has been provided, along with the corresponding trends that have been triggered.
o Detailed company profiles of some of the key players operating in the market have been provided.
o Segment and country-wise market forecast till 2030 has been provided.
o The reader has been provided with a detailed picture of the market landscape, along with the competition prevalent in the market.
- Healthcare facilities
o The report provides information on the end-user demand for radiofrequency-based aesthetic devices.
o A segment-wise forecast has been provided for each end-user segment.
Key Questions Answered in the Radiofrequency-Based Aesthetic Devices Market –
- What are the key regulations governing the global radiofrequency-based aesthetic devices market?
- What are the key technological developments that are expected to have a strong impact on the global radiofrequency-based aesthetic devices market in the coming years?
- How has the COVID-19 pandemic impacted the growth of the global radiofrequency-based aesthetic devices market?
- Who are the leading players holding a major share of the global radiofrequency-based aesthetic devices market?
- How has the patent filing trend in the field of radiofrequency-based aesthetic devices grown over the years?
- What are the key factors that are expected to promote or restrain market growth?
- What are the expected scenarios in which the global radiofrequency-based aesthetic devices market can grow in the future?
- What are the potential scenarios and effects of COVID-19 market recovery for the global radiofrequency-based aesthetic devices market?
- What is the most common sales channel, and how likely is it to dominate the market during the forecast period?
- What is the current revenue contribution of the different product types, and how is it expected to be modified during the forecast period?
- What is the current revenue contribution of the different modalities, and how is it expected to be modified during the forecast period?
- What is the current revenue contribution of the different applications, and how is it expected to be modified during the forecast period?
- What is the current revenue contribution of the different end users, and how is it expected to be modified during the forecast period?
- What is the current revenue contribution of the different technologies, and how is it expected to be modified during the forecast period?
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