The multi applications platform market is estimated to be valued at USD 132.8 million in 2021, and it is expanded to grow at a significant CAGR of 16.9% over 2022-2028. Acceptance of energy-based devices in aesthetic procedures is continuously gaining momentum, as these devices enable practitioners to perform procedures at faster rate coupled with improved safety and made medical aesthetic procedures much more accessible to patients. Laser technology, intense pulsed light (IPL) technology, radiofrequency (RF), and ultrasound, are majorly deployed in energy-based devices. These devices are used to treat wide variety of aesthetic applications like wrinkle reduction, pigment & vascular lesions, hair removal, scar, and acne, among others. Increasing acceptance of such energy-based devices for aesthetic procedures is major due to the following advantages or key benefits offered by these devices. RF based devices enhance body’s natural production of collagen and elastin fibers. RF also rejuvenates the appearance of lax skin. In addition, RF technology deliver energy at safe and comfortably deep below the skin’s surface. These benefits support the acceptance of RF based devices to treat wrinkle reduction, body contouring, skin tone preservation, and among others. Furthermore, certain RF devices are designed with tiny pins to safely deliver heat and enhances skin resurfacing procedures, and this can be useful for acne-scar reduction. Considering these parameters like, growing baby boomers population and other age groups, like millennials & younger generations, growing awareness among population, and growing spending among population on aesthetic procedures are creating lucrative opportunities for aesthetic treatment solutions, including multi-application platform and picosecond laser devices.
Recent Market Developments:
In Jun 2020, Cynosure Launched Elite iQ Aesthetic Workstation For Laser Hair Removal and Skin Revitalization in the United States, Europe and Australia. The Elite iQ device not only provides personalized hair removal treatments, but also allows practitioners to perform the most requested aesthetic treatments to both revitalize and treat common skin concerns such as unwanted hair, facial and leg veins, sun damage, facial wrinkles, and razor bumps, all without surgery, using a single device.
In Mar 2020, Cocoon Medical announced the US introduction of its Primelase diode laser platform. The Primelase device provides aestheticians with various benefits, the most notable of which being the speed with which it can treat hair on all skin types and the capacity to treat leftover hair that other technologies cannot.