Impact Analysis of Covid-19
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The Global Skin Rejuvenation Devices Market, by Products (Laser Devices, Intense Pulsed Light Devices, Radiofrequency Devices, Ultrasound Devices, LED Devices, and Mechanical Energy Devices), 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$ 1,478 million in 2017 and is projected to exhibit a CAGR of 9.3% over the forecast period (2018 – 2026).
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People go through skin rejuvenation procedures for aesthetic appeal and to gain a confident body language. Skin rejuvenation procedures are emerging as an alternative to chemical-based treatment or pharmacological treatment to treat various skin problems such as wrinkles, dark circles, facial lines, pigmentation, scars, stretch marks, acne, dry and itchy skin, and age spots. According to 2017 Plastic Surgery Statistics Report by American Society for Plastic Surgeons, around 587,903 and 586,662 laser skin resurfacing procedures were reported in the U.S. in 2017 and 2016, respectively. According to the same source, around 740,287 microdermabrasion procedures were reported in 2017. These factors are expected to boost the skin rejuvenation devices market growth over the forecast period. Moreover, according to the same source, there was 186% rise in cosmetic minimally invasive procedures during 2000 to 2017 that shows enormous preference for such procedures. According to the American Society for Aesthetic Plastic Surgery’s national data bank, the U.S. spent US$ 2,332,965,407 in 2015, on skin rejuvenation procedures, of which significant amount is expected to be spent on skin rejuvenation devices.
Furthermore, factors such as rising aging population worldwide, especially in developed economies, and rising disposable income of population in emerging economies such as China, India, and Brazil are expected to drive the market growth. The skin rejuvenation devices market in India is expected to witness significant growth, owing to medical tourism prospects into the country from cost competitiveness and skilled human resource in medical and cosmetic procedure sector. For instance, according to a statistics, India issued more than 0.17 million medical visas in 2016, including for follow up treatment when compared to 0.12 million medical visas in 2015. According to the International Society of Aesthetic Plastic Surgery (ISAPS) report, in 2016, the top five countries – the U.S., Brazil, Japan, Italy, and Mexico – accounted for around 41.4% of the world’s cosmetic procedures, followed by Russia, India, Turkey, Germany, and France.
New product launches and acquisitions by key players are expected to fuel the skin rejuvenation devices market growth
Various innovative products are launched by key market players to maintain leading position in the market. For instance, in 2016, BISON MEDICAL launched its ACCENTO long pulse alexandrite laser device. It has two designs based on wavelength such as single accento 755 nm and accento dual with 755 and 1064 nm. It is indicated for dermatology application. In January 2018, Cutera, Inc. launched Juliet and Secret RF to its product offerings of laser and energy-based device. Also, players are adopting strategies such as acquisition of other companies to expand their product portfolio and geographical presence. In March 2017, Hologic, Inc. acquired Cynosure, Inc., which is a developer, manufacturer, and supplier of a broad array of light-based aesthetic and medical treatment systems.
Browse 22 Market Data Tables and 18 Figures spread through 175 Pages and in-depth TOC on “Skin Rejuvenation Devices Market”- by Products (Laser Devices, Intense Pulsed Light Devices, Radiofrequency Devices, Ultrasound Devices, LED Devices, and Mechanical Energy Devices), By End User (Dermatology Clinics, Beauty Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the skin rejuvenation devices market Press Release, click the link below: https://bit.ly/35LphaP
Key Takeaways of the Skin Rejuvenation Devices Market:
- The global skin rejuvenation devices market is expected to exhibit a CAGR of 9.2% over the forecast period. This is attributed to rising adoption of minimally invasive skin procedures using devices such as laser device and energy-based device.
- Among products, intense pulsed light devices segment is expected to hold dominant position, as large number of procedures are performed annually using this device. However, laser devices segment is expected to exhibit a high CAGR when compared to other products, as there are large number of new product launches and these devices are being largely adopted by dermatologists.
- Among end users, dermatology clinics segment is expected to account for major market share. This is attributed to availability of skin rejuvenation devices in the dermatology premises, skilled human resources, and increased awareness among consumers regarding dermatology treatment.
- North America is expected to hold dominant position in the skin rejuvenation devices market, followed by Latin America. The U.S. spends the highest amount on cosmetic skin rejuvenation procedures in the world. Moreover, the new product launches by key players is expected to fuel the market growth in North America. Furthermore, Asia Pacific is expected to exhibit highest CAGR, owing to increasing disposable income, which could result in rising spending over cosmetic procedures.
- Some of the major players operating in the skin rejuvenation devices market include Cutera Inc., Hologic, Inc., Lutronic Corporation, Syneron Medical Ltd., Lumenis Ltd., Strata Skin Sciences, Inc., BISON MEDICAL, Solta Medical Inc., Lynton Lasers Ltd., and EL.En. S.p.A., Sciton, Inc., Fotona D.O.O., and Alma Lasers, Ltd.
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