The Global Hyperpigmentation Treatment Devices Market, by Product Type (Laser Devices (Q-Switch Lasers, Non-Ablative Fractionated Resurfacing Lasers, Ablative Fractionated Resurfacing Lasers, and Picosecond Lasers), Intense Pulsed Light Devices, Radiofrequency Devices , LED Devices, and Others), by End User (Dermatology Clinics, Beauty Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1150 Mn in 2017 and is projected to exhibit a CAGR of 7.2% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Hyperpigmentation is one of the most common skin problems across the globe. According to a study published in the journal Dermatology Therapy in September 2017, melasma, which is a severe hyperpigmentation condition caused due to hormonal changes, has prevalence in the range of 1% to 50% worldwide. When effective results are not obtained by using topical treatments, device-based therapies are preferred by dermatologists.
According to 2017 Plastic Surgery Statistics Report by the American Society for Plastic Surgeons, around 161,670 ablative and 426,233 non-ablative laser skin resurfacing procedures were performed in the U.S. in 2017. According to the same source, around 740,287 microdermabrasion procedures were reported in 2017. Such high number of device-based procedures are expected to drive growth of the hyperpigmentation treatment devices market.
Furthermore, increasing aging population worldwide, especially in developed economies and increasing disposable income of population in emerging economies such as China, India, and Brazil are expected to fuel growth of the market. According to the International Society of Aesthetic Plastic Surgery (ISAPS) report, in 2016, Brazil, India, Turkey, Russia, and China were amongst the top 10 countries in device-based cosmetic procedures worldwide.
New product launches and acquisitions by key players are expected to drive growth of the hyperpigmentation treatment devices market
Key players are launching innovative products in the hyperpigmentation treatment devices market, in order to maintain their dominant position in the market. For instance, in July 2018, Candela Corporation was granted with the U.S. Food and Drug Administration (FDA) clearance for its Vbeam Prima, which is an advanced 595 nm pulsed dye laser that can be used for the treatment of various skin conditions such as hyperpigmentation.
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. for this system. In January 2018, Cutera, Inc. launched Juliet and Secret RF to its product offerings of laser- and energy-based devices.
Market players are acquiring companies to widen their product portfolio and expand their geographical presence. In March 2017, Hologic, Inc. acquired Cynosure, Inc., which is a developer, manufacturer, and supplier of wide range of light-based aesthetic and medical treatment systems.
Browse 25 Market Data Tables and 29 Figures spread through 167 Pages and in-depth TOC on “Hyperpigmentation Treatment Devices Market - by Product Type (Laser Devices (Q-Switch Lasers, Non-Ablative Fractionated Resurfacing Lasers, Ablative Fractionated Resurfacing Lasers, and Picosecond lasers), Intense Pulsed Light Devices, Radiofrequency Devices, LED Devices, and Others), by End User (Dermatology Clinics, Beauty Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”.
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Key Takeaways of the Hyperpigmentation Treatment Devices Market:
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