Photorejuvenation Devices Market to Witness Significant Incremental Opportunity During 2025
Photorejuvenation Devices Market size was valued at USD 1.6 billion in 2018 and is expected to witness 6.6% CAGR from 2019 to 2025. In addition, the volume of Intense Pulsed Light (IPL) product type procedures is set to exceed 242,272 thousand procedures by 2025.
Recently growing prevalence of skin disorders has been leading to scarring. According to the American Academy of Dermatology, acne is considered as the most common skin disorder in the U.S. which is affecting around 50 million individuals yearly. Acne usually causes significant physical changes, which include permanent scarring. Laser resurfacing is considered as most commonly used non-invasive treatment for acne scarring. Thus, the growing prevalence of skin disorders directly contributes to driving the photorejuvenation devices market over the forecast period
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Furthermore, growing awareness among the population about non-invasive surgeries with reduced side effects when compared with other surgical surgeries is increasing the adoption of non-invasive photorejuvenation devices. According to the International Society of Plastic Surgery (ISAPS), in 2015, about 568,672 number of photorejuvenation procedures were performed worldwide with photorejuvenation devices which gradually increased to 623,243 in 2016. Also, treatment with photorejuvenation devices reduces the hospital stay and provides faster recovery. However, high cost associated with aesthetic devices might impede the cosmetic procedure devices growth over the forecast period.
Photorejuvenation Devices Market By Product, 2014-2025 (USD Million)
Intense Pulsed Light (IPL)
Laser Equipment
Ablative Fractional Laser
CO2 Laser
Erbium YAG Laser
Non-ablative Fractional Laser
Nd: YAG Laser
Er: Glass Laser
Others
LED Equipment
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Photorejuvenation Devices Market By Modality, 2014-2025 (USD Million)
Standalone Photorejuvenation Devices
Portable/Handheld Photorejuvenation Devices
Photorejuvenation Devices Market By End-use, 2014-2025 (USD Million)
Hospitals
Dermatology Clinics
Home Care Settings
Others
North America market is estimated to witness a growth pegged at around 6.1% CAGR over the analysis timeline. The regional growth is majorly attributed due to the presence of established manufacturers with robust product offerings. Also, technological advancements and affordability of photorejuvenation treatment among the general population are further anticipated to boost the North America photorejuvenation device market growth.
Asia Pacific photorejuvenation devices market was valued at around USD 300 million revenue in 2018. Increasing healthcare expenditure and growing awareness coupled with government initiatives is expected to drive the growth of the Asia Pacific market. Countries like Japan, China, and India is expected to be the fastest-growing countries in the Asia Pacific market.
Some of the notable business players operating in photorejuvenation devices market include Hologic (Cynosure), Lumenis, Syneron Medical, Lynton Lasers, EL.EN. S.p.A. (Deka Mela S.r.l.), Fotona, Cutera, Lutronic Corporation, Beijing Nubway S & T, and others. The market players are adopting various organic and inorganic strategies in order to increase their geographical presence and market share in the industry.
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