Aesthetic procedures, though cost-intensive, have experienced increased growth over the past decade. With patients gradually shifting from more complicated, time-consuming invasive procedures to minimally invasive and non-invasive ones, surgical lasers in particular have turned out to be the most preferred choice for aesthetic applications, according to market research firm Frost & Sullivan.
Frost & Sullivan’s Technology Breakthroughs in Aesthetic Procedures report finds that advancements in laser technology have significantly raised the number of laser aesthetic procedures performed. Surgical lasers are especially well-suited for non-invasive aesthetic procedures such as hair removal and skin rejuvenation. Other advanced technologies such as transdermal focused ultrasound, monopolar radiofrequency, high intensity focused ultrasound, and cryolipolysis are growing popular.
"Newer treatments options are expanding the clinical application focus of procedures to other areas of the body apart from the face," said technical insights industry analyst Darshana De. "With the baby boomer population aging, more patients are seeking body contouring and body rejuvenation procedures through nonsurgical treatment options that utilize ultrasound or cold energy."
Due to the growth potential of the cosmetic industry, many new participants are likely to enter the market while existing companies plan on product line extensions. Though entrants are likely to come up with new technologies, they face stiff challenges from leading companies. Hence, the cosmetic procedures market is marked by strong competition and pricing pressures.
In view of this, continuing R&D, product improvement programs, and accurate clinical studies to design new technologies will be crucial. Moreover, large participants should establish alliances with start-ups that have innovative technologies at hand but lack the funds and the experience to market their solution.
"Intense R&D has already paved the way for the production of multi-functional products," notes De. "Research has also led to the development of natural cosmetics, which is another fast-growing category reflecting the increased preference of consumers for less synthetic, more natural products."