HYPERPIGMENTATION TREATMENT DEVICES MARKET ANALYSIS

Hyperpigmentation Treatment Devices Market – Creating Younger Prospects

Hyperpigmentation is a skin condition in which patches of skin becomes darker than the surrounding skin. Hyperpigmentation is characterized by the age spots, brown spots, and freckles. Skin darkening occurs as a result of melanin augmentation beneath the epidermis layer of the skin. Some of the major causes for hyperpigmentation includes:

• Sun damage induced hyperpigmentation, also called lentigines, occurs due to prolonged exposure to harmful ultra violet rays from sun and causes small dark spots on the skin
• Hormonal change due to pregnancy, use of birth control pill, and excessive estrogen production, this condition of hyperpigmentation from hormonal changes is also called as melasma, which is chronic and relapsing
• Post inflammatory hyperpigmentation due to skin conditions such as acne, injury, trauma and burn, and post-surgery spots

There are various device-based methods for treating hyperpigmentation condition, which includes laser-based methods, intense pulsed light photo rejuvenation, sub surfacing non-ablative lasers, microdermabrasio, and radiofrequency devices. These devices offer non-surgical treatment option for curing hyperpigmentation and associated diseases such as sun spots, scars etc. Most of these devices are used for different skin problems including severe form of hyperpigmentation, in which other options such as topical and pharmaceutical agents do not show promising results. Each device type has unique way of treating hyperpigmentation condition. Laser devices are most dominantly used in current scenario over other devices due to less side effects and effective results when compared to other devices.

The global hyperpigmentation treatment devices market size was valued at US$ 1,150 Mn in 2017, and is expected to witness a CAGR of 7.2% over the forecast period (2018 – 2026).

Figure 1. Global Hyperpigmentation Treatment Devices Market Value (US$ Mn), by Region, 2017

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Source – Coherent Market Insights

Increasing number of non-surgical, device-based procedures to treat hyperpigmentation is expected to drive growth of the hyperpigmentation treatment devices market

Increasing prevalence of skin related problems such as hyperpigmentation, acne, scar, sun damaged skin, and stretch marks would result in increasing utilization of non-surgical, minimally invasive, device-based skin resurfacing procedures, thereby driving growth of the hyperpigmentation treatment devices market. According to the American Society for Plastic Surgeons’ Plastic Surgery Statistics Report, photo rejuvenation, also known as ‘intense pulse light’ (IPL) therapy, is the fourth most popular non-invasive cosmetic procedure for skin resurfacing (includes hyperpigmentation) in the U.S., with around 667,561 procedures performed in 2017.

According to the same source, around 587,903 and 586,662 laser skin resurfacing procedures were conducted in 2017 and 2016, respectively, which included both ablative and non-ablative laser treatment. Such high number of skin resurfacing procedures are expected to drive the hyperpigmentation treatment devices market growth.

According to the report by International Society of Aesthetic Plastic Surgery titled ‘Global Aesthetic Survey Results’ published in 2017, a total of 2,545,922 skin rejuvenation procedures were conducted worldwide in the year 2016.

However, risk of post inflammatory hyperpigmentation due to the use of laser and light-based devices and lack of reimbursement by insurance companies for skin resurfacing procedures is expected to limit the utilization of the procedure, thereby restraining growth of the market. According to the American Society of Plastic Surgeons (ASPS), each session of the non-ablative laser treatments cost around US$ 1,031, while ablative treatments cost around US$ 2,330 per session.

Figure 2. Global Hyperpigmentation Treatment Devices Market Share, By Product, 2017

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Source - Coherent Market Insights Analysis

Increasing geriatric population worldwide and launch of innovative laser-based devices are expected to drive growth of the hyperpigmentation treatment devices market over the forecast period

According to Coherent Market Insights’ analysis, increasing geriatric population will result in high demand for skin resurfacing and removal of dark spots from hyperpigmentation, which is expected to drive growth of the market over the forecast period. According to world population prospects report published in 2017, the global population is moving towards higher age group. In 2017, an estimated 962 Mn people were aged 60 or over in the world, comprising 13% of the global population, which would reach 1.3 Bn by 2025, by growing at a rate of about 3% per year.

Older population severely face skin related problems such as post menopause pigmentation, which leads to higher demand for minimally invasive aesthetic procedures. According to the American Society for Aesthetic Plastic Surgery’s national data bank published in 2016, in the last 20 years (1996- 2016), there approximately 1,263% rise skin related cosmetic procedures among age group of 65 and higher. This is expected to drive growth of the hyperpigmentation treatment devices market.

Various manufacturers are launching new devices and promoting adoption of laser-based and light-based devices, which is expected to propel growth of the hyperpigmentation treatment devices market. For instance, in January 2018, Korea-based Lutronic launched a new laser device Lase MD for skin rejuvenation. It is 1,927 nm Thulium laser, which is designed to provide customized skin resurfacing to patients of all ages and skin-type, through fractionated treatments with minimal downtime.

The laser based device creates micro-channels with minimal disruption to the outermost layer of the skin, stratum cornium, and leaves the tissues untouched for better permeability and fast healing. In April 2017, BISON MEDICAL’s CYMA clinic CO2 laser system was granted with 510(k) clearance from the U.S. Food and Drug Administration (FDA). It opened up strong market such as the U.S., which has world’s highest number of annual skin cosmetic procedures for this laser system.

Key players operating in the global hyperpigmentation treatment devices market include Cutera Inc., Hologic, Inc., Lutronic Corporation, Syneron Medical Ltd., Lumenis Ltd., Alma Lasers, Ltd., AMI, Strata Skin Sciences, Inc., BISON MEDICAL, Solta Medical Inc., Lynton Lasers Ltd., EL.En. S.p.A., Sciton, Inc., Fotona D.O.O., and Alma Lasers, Ltd.