Portable photorejuvenation devices market to record 6.8% CAGR
Rise in prevalence of skin problems coupled with demand for non-invasive treatments is expected to drive photorejuvenation devices market trends. Over the past few years, there has been a growing craze for aesthetic transformations such as hair removal, wrinkle reduction and tattooing.
The growing popularity of these aesthetic procedures will lead to an increase in demand for aesthetic devices in dermatology clinics, in turn driving photorejuvenation devices industry growth.
The rising proliferation of cosmetic procedures can also be attributed to the increasing disposable income, particularly in the emerging economies. Massive demand for Intense Pulsed Light (IPL), LED devices and laser in end-use settings is anticipated to boost photorejuvenation devices market outlook.
Growing awareness regarding adverse side effects related to the cosmetic treatments is propelling photorejuvenation treatment trends. Given the reduced side effects of cosmetic treatments with non-invasive photorejuvenation devices, the global market will significantly grow in the years ahead.
In terms of product landscape, IPL is forecast to procure a substantial chunk of the global photorejuvenation market share. In 2018, the segment generated revenue of around 680 million. The technology works on the principle of selective photothermolysis and is regarded safe, highly versatile and effective in the treatment of rosacea, facial telangiectasias, and pigments on chest, face, etc.
The growingpreference for portable devices over standalone devices among healthcare professionalsis driving portable photorejuvenation devices market outlook. In 2018, portable photorejuvenation devices segment accounted for 30% of the global share and is forecast to witness a CAGR of 6.8% over 2019-2025. The devices are witnessing massive popularity due to their ability to minimise the number of sessions required for aesthetic treatment, thereby reducing hospital stays and treatment cost.
Due to rapid technological advancements in the cosmetic industry, North America is anticipated to hold considerable share in the regional landscape of photrejuvenation market. In 2018, North America photorejuvenation devices market share stood at witnessed $500m.
Latin America is another prominent growth avenue having acquired 14% of the global share in 2018. Rise in medical tourism sector in countries like Brazil coupled with growing popularity of technologically advanced aesthetic devices are factors slated to drive the regional photorejuvenation market outlook.
Major industry players operational in photorejuvenation devices market include Beijing Nubway S & T, Hologic (Cynosure), Syneron Medical, Lumenis, Lynton Lasers, Cutera, Fotona, EL.EN. S.p.A. (Deka Mela S.r.l.) and Lutronic Corporation.
Speaking of the strategic landscape, M&As are one of the prominent growth tactics underlining the vertical. An instance validating the same - in February 2017, Hologic, a US based medical technology company acquired Cynosure to expand its product portfolio in the aesthetic market. The move also aided the firm in expanding its geographical and customer reach.
The market is also characterized by new product launches to help companies gain an edge over the rival counterparts. In April 2019, Lumenis, a renowned minimally invasive clinical solution provider announced the launch of a new platform dubbed as the Legend Pro+.
The new body and face platform that offers immediate results with long-term efficacy, down-time, and minimal pain reportedly provides a complete toolkit of minimally invasive technologies to create customised treatments.
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