Skin Rejuvenation Devices Market – Creating Younger Prospects
Skin rejuvenation involves treating variety of skin disorder such as wrinkles, dark circles, facial lines, pigmentation, scars, stretch marks, acne, dry and itchy skin, and age spots. These skin problems are characterized by the thin and dry skin, loss of skin elasticity, loss of subcutaneous fat tissue, and reduction in production of sebum.
There are various device based methods of skin rejuvenation such as microdermabrasio, laser-based methods, intense pulsed light photo rejuvenation, sub surfacing non ablative lasers, fractional resurfacing, and radiofrequency devices. These methods can be used alone or in combination, according intensity of the skin problem.
Skin rejuvenation devices offers non-surgical treatment option for curing variety of skin problem mentioned earlier. They provide visible results in minimum time and less need for invasive technique. Increasing awareness about common skin problems, preference to improve visual / aesthetic appearance, and decreasing device cost is resulting into wide adoption of the skin rejuvenation devices to perform skin rejuvenation related surgeries.
The global skin rejuvenation devices market size was valued at US$ 1,478 million in 2017, and is expected to witness a CAGR of 9.3% over the forecast period (2018 – 2026).
Figure 1. Global Skin Rejuvenation Devices Market Value (US$ Mn), by Region, 2017
Source: Coherent Market Insights
Increasing prevalence of skin associated problems and increasing number of skin aesthetic procedures to drive growth of the skin rejuvenation device market
Increasing prevalence of the skin related problems such as wrinkles, acne, scar, sun damaged skin, stretch marks, and hyperpigmentation is resulting in to wide utilization of several device-based skin rejuvenation procedures, which in turn is expected to drive growth of the skin rejuvenation device market. According to the report by International Society of Aesthetic Plastic Surgery titled Global Aesthetic Survey Results published in the 2017, total of 2,545,922 skin rejuvenation procedures were conducted worldwide.
According to 2017, Plastic Surgery Statistics Report by American Society for Plastic Surgeons, around 667,561 and 656,781 intense pulsed light treatment for skin resurfacing procedures in the U.S. were conducted in 2017 and 2016 respectively. According to same source, around 740,287 microdermabrasion procedures were conducted in 2017. Such high number of skin rejuvenation procedures are expected to drive the skin rejuvenation devices market growth.
However, lack of reimbursement for skin rejuvenation procedures by insurance companies is expected to limit the utilization of the procedure, in turn 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 per session, while ablative treatments cost around US$ 2,330 per session.
Figure 2. Global Skin Rejuvenation Devices Market Value by Product, 2017
Source: Coherent Market Insights
Increasing aging population worldwide and launch of innovative skin rejuvenation devices are expected to drive growth of the skin rejuvenation devices market during forecast period
With increase in old age population need for skin rejuvenation process would be increasing as per analysis by Coherent Market Insights. According to world population prospects report published in 2017, global population is moving toward higher age group, In 2017, an estimated 962 million people were aged 60 or over in the world, comprising 13% of the global population, which would reach 1.3 billion by 2025, by growing at a rate of about 3% per year. Older population generally face decreasing skin fat, wrinkles, and other skin related problems, which may lead to higher number of skin rejuvenation procedures benefitting skin rejuvenation device market.
Various manufacturers are launching new devices and promoting adoption of skin resurfacing devices, which is expected to propel the growth of skin rejuvenating devices market. 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 with 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. FDA. It opened up strong market such as U.S. which has world highest annual skin cosmetic procedures for this laser system
Key players operating in the skin rejuvenation devices market include Cutera Inc., Hologic, Inc., Lutronic Corporation, Syneron Medical Ltd., Lumenis Ltd., Strata Skin Sciences, Inc., BISON MEDICAL, Solta Medical Inc., Lynton Lasers Ltd., and EL.En. S.p.A., Sciton, Inc., Fotona D.O.O. and Alma Lasers, Ltd.