Photorejuvenation Devices Market Analysis

Photorejuvenation Devices Market Analysis

Intense Pulsed Light (IPL) product segment is projected to witness more than 6.6% growth over the analysis timeframe. Advancements in technology coupled with the growing adoption of IPL devices for applications like hair removal, wrinkle reduction, scar rejuvenation, acne control, freckles, and others are anticipated to contribute to the segmental growth.  Intense pulsed light devices are considered as low-cost entry into the aesthetics industry and smart addition to the clinical settings. IPL treatments are regarded as one of the topmost requested cosmetic procedures.

Laser equipment segment accounted for around 39% revenue share in 2018 in the photorejuvenation devices market over the forecast period. Increasing healthcare expenditure is considered as an indicator of improvement in the healthcare setting. The upsurge in the budget of hospitals in developing countries would further indicate the usage of better-quality laser equipment and thus drive the growth of the aesthetic industry market.

The standalone photorejuvenation devices segment accounted for revenue of more than USD 1,000 million in 2018 and is projected to show sluggish growth during the forecast period. The growing demand for standalone photorejuvenation devices in the emerging economies will surge the growth of the segment.   

The portable photorejuvenation devices segment is anticipated to hold a significant revenue share in 2018 and is projected to witness growth of 6.8% over the forthcoming years. The segment growth is attributable to rising preference of portable devices among the physicians and target population over standalone devices as it minimizes the number of sessions required for treatment and yield faster clearing of tissue.

The hospitals segment is expected to hold a significant market revenue share of around 35% in 2018 and is anticipated to exhibit momentous growth during the forthcoming years. Rising prevalence of skin problems increases the demand for photorejuvenation devices in the hospital which would further drive the aesthetic devices market.
 

Dermatology clinics are expected to hold the considerable market share in the photorejuvenation devices with a growth rate of around 6.0% over the forthcoming years. Dermatology clinics offer photorejuvenation treatment at low prices compared with other end-use settings, which directly contributes to the segment growth. Furthermore, growing inclination of the target population towards non-invasive treatment for wrinkle reduction and scar removal is expected to boost the growth of the market.
 

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.