Global Radiofrequency-Based Aesthetic Devices Market Grows at a Staggering CAGR of 12.11%

Introduction

The Food and Drug Administration (FDA) defines radiofrequency as non-ionizing radiation that emanates from a source and travels across space between 450 and 500 kHz. Radiofrequency ablation is a minimally invasive ablative technique that destroys targeted tissue using heat energy. Radiofrequency ablation devices utilize electrosurgical generators coupled to electrode arrays to deliver heat energy to tissue. Radiofrequency-based aesthetic devices utilize radiofrequency radiation to provide localized heating within tissues for minimally invasive aesthetic usage. The FDA classifies radiofrequency ablation devices as Class-II medical devices, which require a 510(k) submission for clinical use approval; the related regulation number is 878.4400.

Market Dynamics

Increase in Geriatric Population Drives the Global Market

Age increases the need for cosmetic enhancements. The geriatric population comprises adults aged 65 and beyond, making it one of the target age groups for radiofrequency-based aesthetic treatments. According to the 2019 edition of the World Population Prospects, over 16% of the world population will be over 65 by 2050, up from approximately 9% in 2019. Similarly, by 2050, it is anticipated that one in four people in North America and Europe will be 65 or older. The aging population is expected to be one of the key growth factors for the global radiofrequency-based aesthetic devices market, particularly for wrinkle reduction and skin tightening applications.

Leveraging Home Healthcare Trend to Market At-Home Devices Creates Tremendous Opportunities

Due to the COVID-19 epidemic, home healthcare has become the most desired care method. As a result, healthcare expenditures have decreased due to linked and at-home medical equipment. The notion of radiofrequency-based at-home aesthetic treatments is well-known and has been on the market since the outbreak. Before at-home radiofrequency equipment, licensed medical and cosmetic professionals performed the procedure. To broaden the client base, however, non-professionals can now utilize a variety of cost-effective machines and technologies. Consequently, the use of radiofrequency at home became practical. Since the high expense of radiofrequency treatments is also a significant issue inhibiting growth, at-home equipment, and treatments can be encouraged.

Regional Analysis

North America is the most significant global radiofrequency-based aesthetic devices market shareholder and is estimated to exhibit a CAGR of 10.79% over the forecast period. The North American region is one of the centers of innovation for radiofrequency-based aesthetic devices. It is anticipated to continue to dominate the market over the projected period. Several companies in North America offer aesthetic treatments and solutions based on radiofrequency, putting the region at the forefront of the adoption of innovative technology. Several market leaders are headquartered in this region and have a significant presence in the U.S. market. The expansion in the region is attributable to technological advancements, the presence of essential market competitors, the aging population, an increase in new product releases, and FDA approvals. In April 2021, for instance, Cynosure, Inc. introduced the Potenza radiofrequency micro-needling device to enhance skin quality. Cynosure Inc. gained FDA approval for its Potenza radiofrequency micro-needling system in February 2020.

Europe is anticipated to exhibit a CAGR of 12.37% over the forecast period. Europe is one of the leading markets for aesthetic products based on radiofrequency technology. The demand for radiofrequency-based cosmetic treatments is anticipated to increase due to fewer problems and less pain than conventional procedures. In addition, numerous research studies have evaluated the advantages of radiofrequency-based cosmetic treatments, which has fueled market expansion. According to a 2016 study published by the National Center for Biotechnology Information (NCBI) titled 'Review of the Mechanisms and Effects of Non-invasive Body Contouring Devices on Cellulite and Subcutaneous Fat,' a Spanish study found that radiofrequency improved upper thigh cellulite in females aged 24-58 and that the positive effects of the treatment persisted for at least six months post-treatment.

Key Highlights

• The global radiofrequency-based aesthetic devices market was valued at USD 1,322.97 million in 2022. It is estimated to reach USD 3,701.34 million by 2031, growing at a CAGR of 12.11% during the forecast period (2023–2031).
• Based on product type, the global radiofrequency-based aesthetic devices market is bifurcated into radiofrequency generators/ systems, electrodes, applicators, and others. The radiofrequency generator systems segment dominates the global market and is projected to exhibit a CAGR of 11.08% over the forecast period.
• Based on modality, the global radiofrequency-based aesthetic devices market is divided into portable devices and non-portable devices. The non-portable devices segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 11.72% over the forecast period.
• Based on application, the global radiofrequency-based aesthetic devices market is bifurcated into skin tightening, body shaping, fat reduction, and others. The skin-tightening segment owns the highest market share and is predicted to exhibit a CAGR of 12.57% over the forecast period.
• Based on technology, the global radiofrequency-based aesthetic devices market is divided into monopolar RF, bipolar RF, multipolar RF, fractional RF, and others. The bipolar RF segment accounts for the largest market share and is anticipated to exhibit a CAGR of 12.09% over the forecast period.
• Based on the end-user, the global radiofrequency-based aesthetic devices market is bifurcated into beauty clinics, homecare settings, and others. The beauty clinics segment dominates the global market and is predicted to exhibit a CAGR of 11.15% during the forecast period.
• Based on the sales channels, the global radiofrequency-based aesthetic devices market is divided into distributor, retail, and e-commerce. The distributor segment dominates the global market and is projected to exhibit a CAGR of 11.25% during the forecast period.
• North America is the most significant global radiofrequency-based aesthetic devices market shareholder and is estimated to exhibit a CAGR of 10.79% over the forecast period.

Competitive Players

1. Alma Lasers Ltd.
2. Cymedics
3. Cynosure Inc.
4. Beco Medical Group
5. EndyMed Ltd.
6. Inmode Ltd.
7. Lumenis Ltd.
8. Lutronic Corp.
9. Ibramed
10. INDIBA S.A.
11. SharpLight Technologies Ltd.
12. Venus Concept Inc.
13. Syneron Medical Ltd. (Candela Corporation)
14. Viora
15. Ya-Man Ltd.

 

Recent Developments

• March 2024 - Aesthetic Management Partners announced that The Aesthetic Guide's coveted Hot Products 2024 Award has been given to the Agnes RF gadget. This recognition reaffirms Aesthetic Management Partner's dedication to quality in the aesthetic solutions industry. The Aesthetic Guide's Hot Items Award honors innovative items with outstanding performance, inventiveness, and influence in aesthetics.
• April 2024 - Powered By MRP, a well-known global manufacturer of aesthetic devices, announced the release of the ATOM Radiofrequency Microneedling System (RFMN). This cutting-edge skincare gadget is a technological marvel that can match other RFMN systems in specs while costing a fraction of the price. This introduction is consistent with the goal of Powered By MRP, which is to minimize healthcare expenses while enabling doctors to offer superior therapies at a reduced cost to patients.

Segmentation

1. By Product Type
   1. Radiofrequency Generators/ Systems
   2. Electrodes
   3. Applicators
   4. Others
2. By Modality
   1. Portable Devices
   2. Non-Portable Devices
3. By Technology
   1. Monopolar RF
   2. Bipolar RF
   3. Multipolar RF
   4. Fractional RF
   5. Others
4. By Applications
   1. Skin Tightening
   2. Body Shaping
   3. Fat Reduction
   4. Others
5. By End-User
   1. Beauty Clinics
   2. Homecare Settings
   3. Others
6. By Sales Channel
   1. Distributor
   2. Retail
   3. E-Commerce