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According to the latest report by IMARC Group, titled “Energy-Based Therapeutics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global energy-based therapeutics market size reached US$ 6.6 Billion in 2021. Energy-based therapeutics refer to the process of destruction or modifications of tissues through technologies including microwave, ultrasound and radiofrequency. Based on the clinical applications, these therapeutics are widely categorized into general surgeries for gynecology and lithotripsy, ophthalmic surgeries for glaucoma and cataract treatment, and aesthetic surgeries for reducing acne and pigmentation. These therapeutics can be both invasive and non-invasive and are rapidly gaining preference among the masses across the globe.
Global Energy-based Therapeutics Market Drivers:
The growing trend of aesthetic surgeries is one of the key factors driving the market growth. Medical breakthroughs in the field of aesthetic surgeries have popularized the concept of energy-based aesthetic procedures in the healthcare industry. This is also being influenced by the affordability and efficacy of these procedures, along with the rising preference for non-invasive techniques. Apart from this, energy-based therapies such as laser and radiofrequency are also being used for managing the genitourinary syndrome of menopause in women. Furthermore, increasing inclination toward minimally invasive (MI) surgeries for the treatment of diseases such as cancer is also contributing to the market growth. The proliferation of physician-owned ambulatory surgical centers (ASCs) is another major growth-inducing factor. ASCs are now being preferred by patients for these therapies as they are associated with shorter hospital stays and quicker recovery as compared to traditional surgeries. On account of the aforementioned factors, the market is expected to reach a value of US$ 9.71 Billion by 2027, expanding at a CAGR of 6.4% during 2022-2027.
Market Summary:
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