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 becoming popular.
The US ranks first among countries performing breast augmentations, while Asian countries such as China, Japan and South Korea rank among the top five countries performing rhinoplasties.
“Newer treatment options are expanding the clinical application focus of procedures to other areas of the body apart from the face,” explained technical insights industry analyst Darshana De. “With the baby boomer population aging, more patients seek 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, said Frost & Sullivan. 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.”