A new report from InMedica, “The World Market for Aesthetic Devices,” forecasts that the market for aesthetic devices will increase to $1.9 billion by 2012, representing a forecast compound annual growth rate (CAGR) of 9.5%. According to the report, as more traditional laser and IPL-based aesthetic devices mature, newer alternative energy devices are forecasted to take an increasing revenue share, maintaining steady total market growth. The dominant driver is the development of new devices that provide efficacious treatments with reduced treatment times and fewer side effects.
In 2007, laser-based systems accounted for most of the professional aesthetics market, with an estimated 59.2% ($706.9 million) of the total revenues. Laser-based devices are considered to be the ‘gold standard’ for many applications, with revenues forecasted to grow at a CAGR of 8.2%.
With an attractive return per procedure, the traditional customer base for professional aesthetic devices of plastic surgeons and dermatologists is expanding. Non-traditional practitioners such as GPs, OB/GYN, and ENT physicians are choosing to provide aesthetic treatments to create additional sources of income. In addition, the MediSpa market is growing with a number of entrepreneurial physicians developing physician-directed medical spas and day spas. The non-traditional and developing MediSpa segments are therefore increasingly important target markets for aesthetic device manufacturers.
[InMedica, August 14, 2008]