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Photorejuvenation Devices Market Size
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
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.
How much did the global photorejuvenation devices market size account for in 2018?
The market size of photorejuvenation devices exceeded USD 1.6 billion in 2018.
Which region is expected to emerge as a favorable investment destination?
Robust product offerings and technological advancements in North America have made the region a favorable investment destination in photorejuvenration devices industry.
How will intense pulsed light (IPL) product gain traction in photorejuvenation devices market?
Proliferation in technology and increase in the adoption of IPL devices for scar rejuvenation, hair removable, wrinkle reduction, and acne control will serve as a catalyst in spurring the traction of IPL products in the industry landscape.
What are the factors likely to drive the demand for photorejuvenation devices globally?
Some of the factors such as favorable regulatory approval, trend for non-invasive surgical procedures and rising burden of skin disorders are likely to fuel the demand for photorejuvenration devices globally.
How much growth will the photorejuvenation devices industry share witness during the forecast timeframe?
The industry share of photorejuvenation devices is expected to witness 6.6% CAGR from 2019 to 2025.
Why are leading companies focusing on portable photorejuvenation devices?
Leading companies are focusing on portable photorejuvenation devices owing to the increasing trend for portable devices among stakeholders pertaining to the fact that they reduce the number of sessions needed for treatment.