Skin Rejuvenation Devices Market
Skin rejuvenation devices are utilized to address a variety of skin conditions, including sun spots, wrinkles, scars, acne marks, dry and itchy skin, and hyperpigmentation. There are multiple approaches and devices utilized for skin rejuvenation, such as laser-based devices (such as CO2 and ND: YAG), radiofrequency devices, mechanical energy-based devices, and photon-based devices. These minimally invasive techniques are employed to revitalize the skin and provide a more youthful appearance.
The Global Skin Rejuvenation Devices Market is estimated to be valued at US$ 2,227.4 million in 2022 and is expected to exhibit a CAGR of 9.5% during the forecast period (2022-2030).
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Competitive landscape
Prominent players, including Solta Medical Inc., Sciton, Inc., Strata Skin Sciences, Inc., Cutera Inc., Syneron Medical Ltd., Hologic, Inc., Lynton Lasers Ltd., Lutronic Corporation, Fotona D.O.O., Lumenis Ltd., Alma Lasers, Ltd, EL.En. S.p.A., and BISON MEDICAL, are operating in the global skin rejuvenation devices market.
Recent Developments
Skin Science Solutions, a top provider of skin and body rejuvenation treatments, has announced the launch of a new device called icoone roboderm in April 2022. This device utilizes advanced cellular technologies to provide non-invasive and painless facial and body rejuvenation. Recently, Skin Science Solutions revealed that the icoone treatment is now available at Exhale Spa in the United States. The icoone device was developed in collaboration with Professor Jean-Claude Guimberteau, a reconstructive surgery expert who dedicated years to researching the skin’s connective tissue structure. The icoone range consists of two device models, namely, Beauty and Medical, which come with or without LED and laser light sources. Microstimulation and light sources work together to target specific body areas, providing quicker and longer-lasting results both aesthetically and functionally.
Restraint
The lack of insurance reimbursement for skin rejuvenation procedures is likely to impede the growth of the global market for skin rejuvenation devices. This may result in limited utilization of these procedures. For example, in April 2018, the American Society of Plastic Surgeons (ASPS) reported that non-ablative laser treatments cost approximately US$1,031 per session, while ablative treatments cost around US$2,330 per session.
The growth of the skin rejuvenation device market is expected to be driven by the growing incidence of skin-related issues and the rising demand for skin aesthetic procedures.
The rise in the incidence of various skin issues like wrinkles, acne, scars, sun damage, stretch marks, and hyperpigmentation is leading to the extensive adoption of device-based skin rejuvenation treatments. As a result, there is an anticipated growth in the market for skin rejuvenation devices. The International Society of Aesthetic Plastic Surgery published their yearly statistics on Aesthetic Plastic Surgery, titled Global Aesthetic Survey Results, in April 2022. The report utilized new, precise digital technology to gather data, which indicated a significant increase in aesthetic plastic surgery procedures in 2021. According to the data, there has been a substantial rise in the number of cosmetic procedures carried out on the face, breasts, and body. Globally, there has been a significant increase of 63% in aesthetic body procedures such as abdominoplasty, buttock augmentation, and liposuction since 2020. In the same year, breast procedures, including breast augmentation, augmentation/breast lift, and breast lifts and reductions increased by 48%. Moreover, specialized facial procedures such as brow lifts and face lifts saw a 54% increase last year. These impressive statistics resulted in Americans spending more than $14.6 billion on aesthetic procedures in 2021, with surgical revenues up by 63%. According to data from 2021, there appears to be a correlation between the pandemic and an increase in surgical procedures for the face and body. Many members of the Aesthetic Society have noted that the prevalence of video meetings and increased free time may have contributed to this trend.
The skin rejuvenation devices market is expected to experience growth, fueled by the large number of skin resurfacing procedures performed in the United States. According to the 2017 Plastic Surgery Statistics Report by the American Society for Plastic Surgeons, approximately 667,561 and 656,781 intense pulsed light treatments were conducted for skin resurfacing in 2017 and 2016, respectively. The report also indicated that approximately 740,287 microdermabrasion procedures were performed in 2017.
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Skin Rejuvenation Devices Market Report Coverage
| The market size value in 2023 |
The market for skin rejuvenation devices is anticipated to experience growth during the forecast period due to the global increase in the geriatric population.
According to analysis by Coherent Market Insights, there will be a growing demand for skin rejuvenation procedures due to the increasing elderly population. According to the World Health Organization, between 2017 and 2050, the percentage of people over 60 will nearly double from 12% to 22%. By 2020, there will be more people aged 60 and over than children under 5. In 2050, 80% of older people will reside in low- and middle-income countries, and by 2030, one out of every six individuals worldwide will be aged 60 or above. The population of people aged 60 years and above is set to rise from 1 billion in 2020 to 1.4 billion presently. By 2050, this figure is expected to double to 2.1 billion, while the number of individuals aged 80 years or above is projected to triple to 426 million during the same period.
Furthermore, as stated in the 2017 World Population Prospects Report, the worldwide population is progressively aging. In 2017, approximately 962 million individuals were 60 years of age or older, representing 13% of the total global population. It is predicted that this number will rise to 1.3 billion by 2025, increasing at an annual rate of around 3%. With the elderly population experiencing common skin issues such as reduced skin fat, wrinkles, and other related problems, the demand for skin rejuvenation procedures is expected to rise, leading to growth in the market for skin rejuvenation devices.
Impact of the Coronavirus (COVID-19) Pandemic
The COVID-19 virus first emerged in December 2019 and has since spread to more than 100 nations worldwide. On January 30, 2020, the World Health Organization announced it a public health emergency.
COVID-19 has three primary ways of impacting the economy, which include direct effects on the demand and production of drugs, medical devices, and goods, disturbances in the channels of distribution, and financial effects on companies and financial markets. Nations like India, Egypt, Saudi Arabia, China, the U.A.E., and others are encountering transportation difficulties for medical devices and drugs due to nationwide lockdowns.
The economy can be impacted by COVID-19 through three primary means. Firstly, it can directly affect the production and demand of various items such as drugs, devices, and goods. Secondly, it can cause disruptions in distribution channels. Lastly, the pandemic has resulted in a global transformation of the delivery of medical and surgical services. The transportation of drugs between different locations has become a challenge for several countries, including India, U.A.E., China, Egypt, Saudi Arabia, and others, due to nationwide lockdowns.
Moreover, the global market for skin rejuvenation devices suffered a setback during the COVID-19 pandemic due to a decline in surgical procedures caused by the pandemic. An example of this would be in June 2021, as per information released by the National Center for Biotechnology Information, where the Cosmetic Surgery Governance Forum (CSGF), a group of aesthetic plastic surgery specialists, utilized their network to collaborate on intricate cases and exchange knowledge. This proved especially beneficial in dealing with challenges brought on by quarantine measures that resulted in a significant reduction in the number of surgeries performed. During the post-pandemic period, the total number of surgeries declined by 23.5% (p < 0.05).
Additionally, the American Society of Plastic Surgeons stated in April 2021 that their board-certified plastic surgeons ceased performing non-essential surgeries for an average of 8.1 weeks in 2020 as a result of COVID-19. This timeframe accounts for 15 percent of the year, and it corresponds with the reduction in the total number of surgeries performed during the previous year.
Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of Skin Rejuvenation Devices Market Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Skin Rejuvenation Devices Market Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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