The Asia Pacific Radiofrequency Skin Rejuvenation Devices Market would witness market growth of 10.1% CAGR during the forecast period (2023-2030).
Radiation therapy is essential for curative and palliative cancer treatments in senior patients. The growth of the market can be ascribed to the increasing demand for these devices in cosmetic operations. Moreover, due to the ongoing technical improvements in healthcare, end consumers are anticipated to continue using radiofrequency devices. Furthermore, the frequency of government regulatory approvals for RF beauty devices is resulting in the introduction of new products. As a result of ongoing developments in the product line of beauty equipment, rising investments in R&D activities related to RF devices will propel market expansion.
In the near future, new products, innovation, and technological breakthroughs in radio frequency operations will present profitable chances for the adoption of radiofrequency skin rejuvenation processes. Due to the COVID-19 pandemic, households with low and intermediate incomes had a considerable increase in disposable income in 2020 and 2021.
These households constitute multi-trillion-dollar prospects with significant unmet demand, even regarding the most basic goods and services, making these consumers vital to manufacturers from a strategic standpoint. As a result, these consumers have become the target market for numerous businesses and brands. Due to their greater responsibilities and participation in mass product consumption in most nations, middle-income customers are also the main target of several consumer-focused firms.
The Asia Pacific region is the residence of 4.3 billion people or 60% of the world's population. The region's population of seniors 60 and older will increase to 1.3 billion individuals between now and 2050. As opposed to one in ten today, one in four people by the middle of the century will be 60 or older. One in three persons in East and North-East Asia will be above the age of 60, with the majority of these people being women without pensions or other social safety nets. The industry is also anticipated to rise due to rising medical tourism in developing nations. For example, the India Brand Equity Foundation (IBEF) reported that the Ministry of Tourism forecasts indicated that India saw 186,644 FTAs for medical reasons in 2020, or 7% of all FTAs. Therefore, the region presents lucrative growth prospects for the market throughout the forecast period.
The China market dominated the Asia Pacific Radiofrequency Skin Rejuvenation Devices Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $91.9 million by 2030. The Japan market is exhibiting a CAGR of 9.5% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 10.8% during (2023 - 2030).
Based on Application, the market is segmented into Skin Tightening, Wrinkle Reduction, Scar Treatment, and Others. Based on End Use, the market is segmented into Medspa, Dermatology Clinics, and Hospitals/Cosmetic Surgery Clinics. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Radiofrequency Skin Rejuvenation Devices Market is Projected to reach USD 1.2 Billion by 2030, at a CAGR of 9.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bausch Health Companies, Inc. (Solta Medical), Alma Lasers Ltd. (Sisram Medical Ltd.), F Care Systems, Cynosure, LLC, Lumenis Be Ltd., Candela Corporation, Cutera, Inc., Fotona d.o.o and Lutronic Co., Ltd.
By Application
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