The global photorejuvenation devices market size was valued at $610.4 million in 2022 and is projected to reach $1,641.7 million by 2032, growing at a CAGR of 10.40% from 2023 to 2032.
Photorejuvenation is a broad category that includes a variety of non-invasive cosmetic procedures that use the natural energy from light to improve the condition of the skin. This procedure helps tackle redness and brown spots on the face and is also called a photo facial, or intense pulsed light (IPL) procedure, it is a non-invasive procedure that makes the face look more youthful by removing sun damage, and signs of rosacea, and reducing pores or acne spots.
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Historical overview
The market was analyzed qualitatively and quantitatively from 2020 to 2021. Most of the growth during this period was derived from the Asia-Pacific owing to a rise in the prevalence of skin disorders, the surge in the geriatric population, an increase in health awareness, a rise in disposable incomes, as well as the well-established presence of key pharmaceutical device manufacturers in the region.
Market dynamics
The growing prevalence of skin disorders has been leading to scarring is the major factor propelling the growth of the market. For instance, according to the Institute of Health Metrics and Evaluation, skin diseases contributed to 4.86 billion incident cases around the world in 2021. Moreover, age is a factor in the prevalence of skin disorders. As one gets older, the risk of acquiring a skin disorder increase, due to the changes in connective tissue, reduction in the skin’s strength and elasticity, as well as the reduction in secretions from sebaceous glands. According to a report published by the Asia Development Bank it has been estimated that Asia-Pacific’s elderly population is projected to reach 923 million by 2050.
Segmental Overview
The photorejuvenation device market is segmented on the basis of product, modality, end-user, and region. By product, the market is segmented into intense pulsed light, laser equipment, and LED equipment. By modality, it is divided into standalone and portable. By end user, it is classified into, hospitals, dermatology clinics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Type
Based on type, the market is segmented into intense pulsed light, laser equipment, and LED equipment. The laser equipment segment dominated the global market in 2021 and is expected to remain dominant throughout the forecast period, owing to a rise in the demand for laser-based equipment for aesthetic procedures.
By Modality
Photorejuvenation Devices Market share is bifurcated into standalone and portable. The standalone segment dominated the global market in 2022 and is anticipated to continue this trend during the forecast period. This is attributed to the advantages offered by standalone photorejuvenation devices such as standalone laser devices that have a single wavelength and a small variety of applicators.
By End User
The Photorejuvenation Devices Market Size is segmented into hospitals, dermatology clinics, and others. The hospital segment dominated the global market in 2022 and is anticipated to continue this trend during the forecast period. This is attributed to the rise in the prevalence of skin disorders and the increase in demand for photorejuvenation treatment that is best suited for patients with chronic sun damage, and rosacea.
By Region
The photorejuvenation device market share is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the Photorejuvenation Device market in 2021 and is expected to maintain its dominance during the forecast period.
COMPETITION ANALYSIS
Competitive analysis and profiles of the major players in the photorejuvenation device market, such as Hologic, Lumenis, Candela Corporation, Lynton Lasers Ltd., Cutera, Lutronic Inc, Nubway, Fotona, Biolitec AG, and Deka Laser are provided in this report.
Lumenis Ltd. announced the launch of its newest, innovative platform, the Stellar M22. This launch help Lumenis’ to improve the standard of care in the skincare market. The new Stellar M22 IPL allows for easy and quick treatment with great output and efficacy.
Key Benefits For Stakeholders
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the photorejuvenation devices industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global photorejuvenation equipment market trends, key players, market segments, application areas, and market growth strategies.
Photorejuvenation Devices Market Segmentations:
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