Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Hyperpigmentation Treatment Devices Market, by Product Type (Laser Devices (Q-Switch Lasers, Non-Ablative Fractionated Resurfacing Lasers, Ablative Fractionated Resurfacing Lasers, and Picosecond Lasers), Intense Pulsed Light Devices, Radiofrequency Devices, LED Devices, and Others), by End User (Dermatology Clinics, Beauty Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 1,150 Mn in 2017 and is projected to exhibit a CAGR of 7.2% over the forecast period (2018 – 2026).
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Hyperpigmentation is one among the most common skin problems, worldwide. According to a study published in the journal Dermatology Therapy in September 2017, melasma, which is a severe hyperpigmentation condition caused due to hormonal changes, has prevalence in the range of 1% to 50%, worldwide. Dermatologists prefer device-based therapies when effective results are not obtained using topical treatments. According to 2017 Plastic Surgery Statistics Report by the American Society for Plastic Surgeons, around 161,670 ablative and 426,233 non-ablative laser skin resurfacing procedures were performed in the U.S. in 2017. According to the same source, around 740,287 microdermabrasion procedures were reported in 2017. Such high number of device-based procedures are expected to fuel the hyperpigmentation treatment devices market growth over the forecast period. Moreover, rising geriatric population worldwide, especially in developed economies and rising disposable income of people in emerging economies such as China, India, and Brazil are expected to drive the market growth. According to the International Society of Aesthetic Plastic Surgery (ISAPS) report, in 2016, Brazil, India, Turkey, Russia, and China were amongst the top 10 countries in device-based cosmetic procedures, worldwide.
New product launches and acquisitions by key players is expected to drive the hyperpigmentation treatment devices market growth
Major players are focusing on new product launches in the hyperpigmentation treatment devices market, in order to maintain their dominant position in the market. For instance, in July 2018, Candela Corporation was granted the U.S. Food and Drug Administration (FDA) clearance for its Vbeam Prima, which is an advanced 595 nm pulsed dye laser that can be used for the treatment of various skin conditions such as hyperpigmentation. In April 2017, BISON MEDICAL’s CYMA clinic CO2 laser system was granted 510(k) clearance from the U.S. FDA. In January 2018, Cutera, Inc. launched Juliet and Secret RF to its product portfolio of laser- and energy-based devices.
Also, market players are adopting strategies such as acquisition, in order to enhance their product portfolio and expand their geographical presence. For instance, in March 2017, Hologic, Inc. acquired Cynosure, Inc., which is a developer, manufacturer, and supplier of wide range of light-based aesthetic and medical treatment systems.
Browse 25 Market Data Tables and 29 Figures spread through 167 Pages and in-depth TOC on “Hyperpigmentation Treatment Devices Market – by Product Type (Laser Devices (Q-Switch Lasers, Non-Ablative Fractionated Resurfacing Lasers, Ablative Fractionated Resurfacing Lasers, and Picosecond lasers), Intense Pulsed Light Devices, Radiofrequency Devices, LED Devices, and Others), by End User (Dermatology Clinics, Beauty Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”
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Key Takeaways of the Hyperpigmentation Treatment Devices Market:
- The global hyperpigmentation treatment devices market is expected to exhibit a CAGR of 7.2% over the forecast period. This is attributed to rising adoption of minimally invasive skin procedures using various devices such as laser device and IPL devices.
- Among product type, intense pulse light devices segment is expected to hold dominant position in the market over the forecast period. This is owing to increasing number of procedures performed annually using these devices. However, laser devices segment is expected to exhibit high CAGR over other segments, as various key players are launching new laser devices and large number of dermatologists are adopting these devices. In the near future, laser devices would surpass IPL devices for use in hyperpigmentation treatment.
- Among end users, dermatology clinics segment is expected to hold largest market share. This is owing to its expertise in treating severe forms of hyperpigmentation and affordability for costlier laser-based devices.
- Among region, North America is expected hold dominant position in the hyperpigmentation treatment devices market, followed by Latin America. Moreover, key players in this region are launching new products in the market, which is expected to drive the market growth in the region. Furthermore, Asia Pacific is expected to exhibit highest CAGR due to awareness about device-based treatment of hyperpigmentation and availability of skilled human resources.
- Major players operating in the global hyperpigmentation treatment devices market include Syneron Medical Ltd., Hologic, Inc., Lutronic Corporation, Alma Lasers Ltd., AMI, Venus Concept, Lumenis Ltd., Strata Skin Sciences, Inc., BISON MEDICAL, Cutera Inc., Solta Medical Inc., Lynton Lasers Ltd., and Sciton, Inc.
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