Innovative breakthroughs and technological progression have opened the gateway for new aesthetic treatments and MedTech devices to revolutionize the healthcare industry. The future of the MedTech industry will be instrumental in helping to optimize patient outcomes, improve efficiency, and discover forward-looking solutions that empower and engage patients.
On a global scale, the medical aesthetics market is expected to reach $22.2 billion by 2025, with an estimated compound annual growth rate of 11.5%. In the aesthetic lasers and energy devices market, forecasters are projecting a CAGR of 10.5% from 2019 to 2026 – equating to an anticipated market value of $9534.6 million by 2026.
There are a number of areas propelling this growth, including health benefits connected with medical aesthetic procedures, rising interest in non-surgical and non-invasive procedures, laser technology advancements, an uptick in male-focused aesthetic treatments, an increase in awareness among consumers, and newly instituted government policies that are particularly favorable for startup companies.
Veteran practitioners and novice plastic surgeons alike have the opportunity to disrupt the fundamental anatomy of the aesthetic industry. The concept of holistic wellness is fueling transformation and healthcare industry growth – with new tech, advanced treatment options, and patient-centric strategies creating meaningful change.
There’s escalating demand for new treatment modalities, like energy-based devices, which are used for things like body contouring, fat reduction, facial rejuvenation, and cellular turnover. However, there are still gaps within the aesthetic health tech market, furnishing innovators with plenty of opportunities to introduce new apps, products, and devices focused on fat reduction, muscle stimulation, and skin tightening.
Non-invasive and minimally invasive procedures are rapidly gaining traction for their convenience – offering minimal discomfort, reduced trauma to the body, and improved post-op recovery time.
Personalized, patient-centric models will drive the future of consumer demand. Delivering this will call for healthcare tech companies to venture beyond traditional business models to improve medical processes across the board. Medical device interoperability is becoming incredibly important – especially among products and wearables that capture and analyze real-time patient data in a secure and effective manner.
RF energy-based devices will see significant expansion moving forward. This is because unlike its ultrasound, laser, or plasma counterparts, RF energy allows for effective temperature management, reducing the risk of skin burns. There’s abundant opportunity to both improve existing RF-based MedTech while stimulating market expansion through the introduction of new devices.
As companies work to capitalize on this transition period in the aesthetic industry, we will see an exciting uptick in MedTech devices designed to help patients achieve their ideal look.
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