The market is being driven by the booming medical tourism industry, mushrooming geriatric population, rising popularity of non-surgical minimally invasive aesthetic treatments, and growing public awareness about the advantages of energy-based aesthetic devices.
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Another major factor fueling the expansion of the MEA energy-based aesthetic devices market is the booming medical industry across the globe. With the expansion of this industry, the public awareness about the various alternatives to the traditional surgical aesthetic treatments is growing rapidly. In the recent times, a large number of patients have traveled from developed countries such as Australia, the U.K., and the U.S. to developing nations such as Turkey, India, Costa Rica, and Mexico for seeking medical treatment.
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Besides, people are also traveling to these countries for cosmetic surgeries, as these surgeries are less costly in these countries in comparison to the developed nations. The MEA energy-based aesthetic devices market is classified, depending on technology, into light-based, laser-based, electromagnetic energy-based, suction-based, ultrasound-based, plasma-based, and cryolipolysis categories. Out of these, the electromagnetic energy-based category is predicted to exhibit the highest growth rate in the market in the coming years.
Between these, the indirect category held the larger share in the market from 2014 to 2019, and it is predicted to retain its market dominance in the coming years as well. This is ascribed to the ballooning e-commerce sales in the region. The MEA energy-based aesthetic devices market will demonstrate the fastest growth in the U.A.E. in the coming years, as per the estimates of P&S Intelligence, a market research company based in India.
The factors driving the expansion of the market in this country are the expanding medical tourism sector, surging disposable income of people, rapid technological advancements, and the soaring geriatric population in the country. As per Gulf News, the value of the medical tourism industry in the U.A.E. grew by 5.5% year-on-year and reached $3.2 billion (AED 12.1 billion) in 2018, mainly because of the increasing enactment of government initiatives and the surging number of medical tourists in the country.
Hence, it is safe to say that the market will register huge expansion in the upcoming years, primarily because of the growing public preference for non-surgical minimally invasive aesthetic treatments, surging geriatric population, and expanding medical tourism industry in the region.