BURLINGTON, Mass., Oct. 22, 2015 /PRNewswire/ -- Decision Resources Group finds that the US aesthetic energy-based device market will grow rapidly as a result of high patient demand for aesthetic procedures, supported by significant media coverage in the US. A lack of regulations in the US preventing physicians from only practicing within their particular specialty field has also facilitated a trend toward noncore physicians, such as family practitioners and gynecologists, adopting aesthetic energy-based devices to supplement their revenues.
Other key findings from the Medtech 360 report entitled US Markets for Aesthetic Energy-Based Devices 2016:
- The emergence of less invasive and noninvasive treatment options has changed market dynamics, particularly in the fat reduction device market, which is experiencing the fastest procedural growth overall. The high demand for noninvasive procedures, along with a small number of competitors in this space, creates a significant opportunity for competitors. Thus, companies that enter this market with a proven and effective device and strong marketing efforts will gain a competitive advantage in the aesthetic energy-based device market.
- The high cost of purchasing aesthetic energy-based devices remains a deterrent for budget-conscious facilities; however, the availability of credit and financing options will help spur the adoption of these devices by core as well as noncore physicians.
- While multi-application systems sales are supported by their long-term cost efficiency and ability to perform different types of procedures, their higher per-unit costs compared to single-application systems continue to hinder their adoption. Furthermore, the presence of more competitors and products in the multi-application system market hinders average selling price growth.
- Product developments and approvals for additional indications will remain critical to the growth of the aesthetic energy-based device market. For example, ZELTIQ gained an additional Food and Drug Administration approval to use its CoolSculpting device for the treatment of thighs in 2014.
Comments from Decision Resources Group Analyst David Lee:
- "The preference for minimally invasive and noninvasive procedures will create an influx of competitors offering less invasive devices, particularly in the fat reduction and skin resurfacing system markets. For example, Lumenis launched its ResurFX laser system and Sciton launched its Halo system, both of which are nonablative skin resurfacing systems that offer less downtime than traditional ablative procedures. Innovations in this space will further improve the efficacy of procedures and make them more attractive to patients, spurring aesthetic energy-based procedure volumes and subsequent device sales."
- "The US aesthetic energy-based device market has undergone significant consolidation in recent years. For example, leading manufacturers Syneron and Cynosure have both recently acquired companies, with Cynosure acquiring both Palomar Medical Technologies and Ellman International, and Syneron acquiring New Star Lasers. New competitors that often specialize in particular segments will likely become acquisition targets for larger manufacturers."
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