MEA Energy-Based Aesthetic Devices Market Share Worth Over $129.4 Million by 2024: P&S Intelligence
NEW YORK, Oct. 28, 2019 (GLOBE NEWSWIRE) — According to the market research report published by P&S Intelligence, the MEA energy-based aesthetic devices market size was valued at $87.6 million in 2018, which is projected to reach $129.4 million by 2024 at a CAGR of 6.9% during the forecast period (2019–2024). Among the various applications of energy-based aesthetic devices, the facial and skin resurfacing/photo rejuvenation application held the largest share in the market during the historical period (2014–2018.) The fat reduction and body contouring application is projected to grow the fastest during the forecast period. The surging preference of consumers for minimally invasive or non-surgical aesthetic treatments, especially for fat reduction, would be a major driver fueling the market growth in the region during the forecast period.
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Based on technology, the laser-based category is predicted to hold the largest share, of 28.5%, in the MEA energy-based aesthetic devices market by 2024. This is primarily due to the rising awareness about the higher safety of laser-based devices in comparison to other energy-based treatments, such as plasma or cryolipolysis.
Based on end user, dermatology and cosmetic clinics held the largest market share, of 54.2%, in 2018, owing to the fact that dermatology and cosmetic clinics are focused on providing aesthetic treatments, unlike hospitals, which are more inclined toward treating a range of medical conditions.
Saudi Arabia held the largest share in the MEA energy-based aesthetic devices market in 2018, followed by Turkey. Together, Saudi Arabia and Turkey are expected to account for a 32.4% market share by 2024. This can be mainly attributed to the increasing medical tourism activities, along with the rising consciousness among people about their appearance.
Browse report overview with detailed TOC on “MEA Energy-Based Aesthetic Devices Market Research Report: By Technology (Laser-Based, Light-Based, Electromagnetic Energy-Based, Ultrasound-Based, Cryolipolysis, Suction-Based, Plasma Energy-Based), Application (Facial & Skin Resurfacing/Photo Rejuvenation, Hair Removal, Skin Tightening, Fat Reduction & Body Contouring, Cellulite Reduction), Distribution Channel (Indirect, Direct), End User (Dermatology & Cosmetic Clinics, Hospitals, Home-Use), Geographical Outlook (Turkey, Egypt, Saudi Arabia, South Africa, U.A.E., Iran, Israel, Qatar, Iraq, Kuwait, Oman, Bahrain, Lebanon, Jordan) – Industry Analysis and Forecast to 2024” at: https://www.psmarketresearch.com/market-analysis/mea-energy-based-aesthetic-devices-market
Other countries including Iran, the U.A.E., Israel, and South Africa also hold considerable shares in the MEA energy-based aesthetic devices market on account of the rapid expansion of the aesthetics industry due to globalization and increasing awareness among consumers about alternatives to surgical aesthetic treatments.
The growing number of aesthetic procedures, surging geriatric population, and increasing initiatives by public and private organizations to create awareness on minimally invasive aesthetic procedures are the key factors driving the growth of the market in Saudi Arabia.
The U.A.E. energy-based aesthetic devices market is projected to witness rapid growth, at a CAGR of 8.0%, during the forecast period. The growing medical tourism sector, increasing disposable income, and technological advancements are some of the key factors driving the market growth.
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The MEA energy-based aesthetic devices market is fragmented in nature. Allergan plc, Alma Lasers Ltd., Syneron Medical Ltd., Lumenis Ltd., Cutera Inc., Hologic Inc., Venus Concept Ltd., Merz Pharma GmbH & Co. KGaA, Sciton Inc., EL.EN. S.p.A., and Bausch Health Companies Inc. are some of the key players operating in the market.
Products launches, as a growth strategy, are being adopted by several key players in the MEA energy-based aesthetic devices market. For instance, in April 2019, Lumenis Ltd. launched the Legend Pro+ platform — a compact multi-application device with advanced technologies. The Legend Pro+ is a face and body platform offer skin rejuvenating solutions, with long-term efficacy, and minimal pain and downtime, with no need for anesthesia.