The aging population, amount of discretionary income available to the baby boomers, and their desire to retain a youthful appearance has increased the demand for aesthetic procedures in the US. In 2010, 40 million people aged 65 years and above were residing in the US in 2010, accounting for 13% of the total population. The baby boomers started turning 65 in year 2011, and the population of older people is expected to increase drastically from 2011 to 2030 period. The older population in 2030 is projected to be twice as compared to 2000, growing from 35 million to 72 million, representing nearly 20% of the total US population. Aging people in the country are opting for cosmetic procedures for skin tightening, wrinkle treatment and breast reconstruction, which is subsequently augmenting the demand for effective devices to perform these cosmetic surgeries in non-invasive manner.
On the other hand, the obese population of the US is also opting for body contouring and fat removal procedures. With more than a third of the population being obese in the country, the weight loss market in the US has high scope. The weight loss industry which includes diet books, diet drugs and weight loss surgeries was valued at approximately USD 20 billion in 2010. Low downtime, fast recovery and less cost of non-invasive surgeries augment the demand for devices used for performing non-surgical cosmetic procedures in the US. Additionally, rising per capita disposable income in the US also allows people to opt for cosmetic procedures without any economic restraint. In January, 2010, the per capita disposable income in the US was estimated as USD 35,791, which increased to USD 41,019 in January, 2015, growing at a CAGR of 2.76%.
Additionally, to mark the importance of body contouring, skin tightening and skin rejuvenation procedures, market players have also focused their attention towards developing effecting devices for respective procedures. Leading players are also entering into mergers and acquisitions to include the effective technologies of body contouring devices and body shaping devices into their portfolio, which would help them in generating high amount of revenue with increasing demand for fat removal devices among obese people.
The aesthetic lasers and energy devices market has been observed to grow at a CAGR of 5.8% from CY2010 to CY2015. Stand-alone devices segment dominated the overall market owing to the preference for stand-alone devices among the private and specialized treatment skin clinics. Moreover, high-budget skin clinics are also observed to prefer stand-alone devices due to an advantage to perform multiple procedures using different devices at one time. Multi-platform devices are only observed to be preferred by middle-level skin clinics, which have resources to invest in expensive multi-platform devices and plan to provide multiple procedures in their services portfolio using single device.
The report titled “US Aesthetic Lasers and Energy Devices Market Outlook to 2020” provides detailed overview on the aesthetic lasers and energy devices market in the US, with focus on the type of stand-alone devices and its segments. This report helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for device manufacturing companies, companies dealing with refurbished aesthetic devices, sales personnel involved in sales and distribution of aesthetic devices, new entrants planning to enter US aesthetic devices market and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
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