Article preview from Medtech Insight - June 2008
Medtech Insight estimates the market for energy-based aesthetic devices will surpass the $1 billion mark by 2011. Skin resurfacing and skin tightening are the fastest growing segments--combined, they account for 36.6% of sales. At some point, more consolidation is likely in this very hot market, but for now there is still room for growth, and market drivers seem to outweigh market limiters. Find out where there's still room for growth.
Energizing the Aesthetics Market
It could be coincidental—however, it probably isn't—that as the population of the US shifts to a society dominated by people over the age of 40, the quest to retain a youthful appearance is becoming a genuine phenomenon. Youth, in and of itself, has always been a prized trait in many societies, but now, with advances in aesthetic medical technology, pushing back the hands of time is becoming a more realizable goal for a wider range of people. Large numbers of consumers are willing to pay significant sums for skin and body parts that are smoother, firmer, and healthier looking, and despite the effects of a struggling economy, physicians and device manufacturers see this as an opportune time to be involved in the aesthetics market.
For very understandable financial reasons, a number of entities are interested in grabbing a piece of the growing aesthetics business, into which Americans poured nearly $13.2 billion in 2007, according to the American Society for Aesthetic Plastic Surgery (ASAPS). One of the areas receiving a great deal of interest involves energy-based handheld devices, used for everything from removing unwanted hair to treating conditions such as varicose veins, sun spots, wrinkles, and other skin imperfections. Medtech Insight estimates the US market for energy-based aesthetic devices has been growing at a healthy rate with sales of $520 million in 2006 and expectations that this market will surpass the $1 billion mark in 2011.
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Companies mentioned in this article:
Alma Lasers Ltd.
Cutera Inc.
Cynosure Inc.
Lumenis Ltd.
Palomar Medical Technologies Inc.
Reliant Technologies Inc.
Syneron Medical Ltd.
Thermage Inc.
Ulthera Inc.
Medtech Insight delivers the quality content you need on medical technologies impacting the spectrum of surgical, orthopedic, cardiovascular, and other markets. Written and edited by seasoned industry participants and experts, the Medtech Insight newsletter provides insights into the technology and market developments (devices, instrumentation, biomaterials, gene therapy, tissue engineering, etc.) impacting a wide range of surgical and non-surgical clinical practices (cardiothoracic & vascular surgery, general surgery, orthopedics & spine surgery, interventional radiology/cardiology, etc.). Browse the current issue online.
