Radiofrequency Skin Rejuvenation Devices Market Size, Share & Trends Analysis Report By Application (Skin Tightening, Wrinkle Reduction, Scar Treatment), By End-use (Medspa, Dermatology Clinics), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global radiofrequency skin rejuvenation devices market size was valued at USD 664.6 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.2% from 2023 to 2030. An increasing focus on physical appearance amongst the consumer has led to increased demand for the market. In addition, the increase in non-invasive procedure and the rise in the geriatric population is also driving the market demand for the market. As per the estimates of WHO, the geriatric population in 2019 was approximately 1 billion.

In addition, with the expansion in the aesthetic industry and technological advancements, treatments have become more accessible and affordable. The availability of these treatments in a wide range of clinics, spas, and aesthetic centers makes it convenient for individuals to undergo the procedure. Moreover, Social media plays a very vital role in influencing the purchasing decisions of millennials, peer recommendation carries a lot of importance when it comes to purchase. According to 2019 Hubspot data, 71% of people are more likely to purchase a product or service online when it is recommended by others. 

The COVID-19 pandemic had a significant impact on the skin rejuvenation industry, including radiofrequency skin rejuvenation. Initially, the industry experienced setbacks as aesthetic clinics and medical spas temporarily closed or operated with limited capacity due to stringent lockdown. However, the pandemic also led to a greater focus on self-care and wellness, with people investing more time and resources into skincare and wellness, which in turn, increased interest in non-invasive techniques like radiofrequency treatments that could be performed at home using handheld devices or through telemedicine consultations. The pandemic also led to increased time spent on video calls and several adults becoming more aware of their appearances. This also led to increase in demands for the market. 

The rising producer price indexes for medical equipment and supplies manufacturers in the U.S. and the associated factors of increased material costs, higher transportation expenses, and raw material shortage are likely to restrict the market's growth over the forecast period. As per the estimates of American Health Ranking in 2021, more than 55 million U.S. adults were more than 65 years of age. The market is growing due to the increased geriatric population as there is an increasing demand for anti-aging skin rejuvenation procedures, which improve self-esteem and quality due to a better look. In addition, technological advancement coupled with the low cost associated with the treatment compared to surgical procedures is also driving the market demand. 

Application Insights 

The skin-tightening segment dominated the market and accounted for the largest share of 34.6% in 2022. This can be attributed to the advantages associated with the procedure. Significant advancements in dermatology and aesthetic medicine have contributed to the growth of skin tightening procedures. Skin tightening is a non-surgical skin treatment to firm sagging skin, and it involves using energy waves to heat the deep layer of your skin known as your dermis, which stimulates the production of collagen and elastin. These proteins give the skin its elasticity and firmness, and their production decreases with age, leading to sagging skin and wrinkles. In the U.S. the procedure is performed by a surgeon certified by the American Board of Cosmetic Surgery. 

The wrinkle reduction is expected to witness the fastest CAGR of 9.8% over the forecast period. This can be attributed to societal pressure and beauty standards, often perpetuated by media and social platforms, which drive many individuals to pursue treatments that reduce visible signs of aging to boost their self-esteem and confidence.The versatility and customization of the treatments allow for targeted wrinkle reduction on different facial areas and other body parts. The long-lasting results, which can last for several months to a year or more, further contribute to the popularity of RF skin rejuvenation. Additionally, the minimal downtime and side effects associated with the procedure make it convenient for individuals to resume their normal activities shortly after treatment. 

End-use Insights 

The medspa segment accounted for the largest revenue share of 48.6% and also accounted for the fastest CAGR of 9.7% over the forecast period. Accessibility and convenience also contribute to the expansion of the med spa segment. These establishments are often located in easily accessible areas and offer flexible scheduling options, appealing to individuals with busy lifestyles who are seeking quick and effective treatments. 

As per the estimates of the American Med Spa Association (AMSA), there is a great demand for minimally invasive procedures like chemical peels and non-surgical skin tightening. Thus, above mentioned factors are likely to drive the demand for the market. In 2017, the American Med Spa Association (AmSpa) reported that more than 4,200 Med spas are operating in the U.S. and this number has increased by 50% since 2016. 

Regional Insights

North America dominated the market and accounted for 41.1% of the total revenue share in 2022. This growth can be attributed to the region's large population, coupled with an increasing focus on skincare and aesthetics, which has resulted in a rising demand for non-invasive or minimally invasive procedures. The treatment offers an attractive option for individuals seeking to improve their skin texture, reduce wrinkles, and achieve a more youthful appearance.  The availability of state-of-the-art devices and treatments in the region attracts both patients and practitioners, contributing to market growth. Additionally, North America's well-established cosmetic industry and strong emphasis on medical aesthetics further fuel the demand for radiofrequency skin rejuvenation.

Asia Pacific region is expected to witness the fastest CAGR of 10.4% over the forecast period. The region's rising disposable income has allowed people to have greater purchasing power, enabling them to invest in advanced cosmetic treatments. Additionally, the increased awareness and demand for aesthetic procedures in this region have driven individuals to seek out treatments that can help them achieve youthful and radiant skin. Advancements in radiofrequency technology have also played a crucial role, improving the safety and effectiveness of these treatments and making them more accessible to consumers and healthcare professionals. Furthermore, the presence of a large aging population in countries like Japan, South Korea, and China has contributed to the growth, as these individuals often seek solutions for age-related skin concerns. The Asia Pacific region has become a hub for medical tourism, attracting individuals from neighboring countries who are looking for cost-effective and advanced aesthetic procedures.

Key Companies & Market Share Insights

The market is competitive, with a large number of manufacturers, the market players are focusing on various strategic initiatives such as new product launches, geographical expansion, mergers and acquisitions, collaboration and partnerships. For instance, in 2021, Lumeins collaborated with Harrods Wellness Clinic. This collaboration is expected to enhance their capacity. Some of the prominent players in the global radiofrequency skin rejuvenation devices market include: 

• Solta Medical

• Alma Laser

• F Care Systems

• Cynosure

• Lumeins

• Candela

• Cutera 

Radiofrequency Skin Rejuvenation Devices Market Report Scope

Global Radiofrequency Skin Rejuvenation Devices Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global radiofrequency skin rejuvenation devices market report on the basis of application, end-use, and region:

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Skin tightening

  • Wrinkle reduction

  • Scar treatment

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Medspa

  • Dermatology clinics

  • Hospitals/Cosmetic Surgery Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Sweden

    • Norway

    • Denmark

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • Saudi Arabia

    • South Africa

    • UAE

    • Kuwait