Global Photo Rejuvenation Devices Market is Estimated to Witness High Growth Owing to Increasing Demand for Non-Invasive Aesthetic Procedures
Photo rejuvenation devices are used in various non-invasive aesthetic procedures to treat skin conditions such as acne, scars, wrinkles, pigmentation, and sun damage. These devices utilize intense pulsed light, laser light, or radio frequency to treat skin issues. Some common procedures performed using these devices include skin resurfacing, skin tightening, tattoo removal, and hair removal. The modern photo rejuvenation devices provide safe and effective solutions to patients looking for non-invasive cosmetic treatments without extensive downtime.
The global photo rejuvenation devices market is estimated to be valued at US$ 0.8 Bn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the growth of the global photo rejuvenation devices market is the increasing demand for non-invasive aesthetic procedures. Non-invasive treatments using photo rejuvenation devices offer benefits such as less pain, lower costs, minimal downtime, and lower risks of complications compared to conventional invasive cosmetic surgeries. This has resulted in a wide acceptance of photo rejuvenation procedures. Moreover, increased awareness about aesthetic appearance along with rising disposable income is encouraging the adoption of various cosmetic treatments globally. However, lack of reimbursements for cosmetic procedures may hinder the market growth over the forecast period.
SWOT Analysis
Strength: Laser device and intense pulsed light devices are commonly used for various dermatological applications such as hair removal, tattoo removal, treatment of acne, leg vein removal, and skin resurfacing. These devices work by delivering pulse of bright light onto the skin surface. The emerging technologies in laser devices deliver highly targeted and precise treatment which causes minimal damage to the surrounding skin. The non-invasive photo rejuvenation procedures offer quick recovery time and minimal pain or discomfort to patients. Weakness: High cost of procedures performed using photo rejuvenation devices limits their adoption in developing regions. Availability of alternative aesthetic treatments such as cosmetic surgery acts as a restraint to the growth of global photo rejuvenation devices market. Opportunity: Rising consumer awareness about aesthetic procedures and growing social acceptance of cosmetic treatments has led to a surge in demand for non-invasive procedures. Growing medical tourism industry especially in Asia Pacific region provides lucrative growth opportunities. Threats: Strict regulatory framework and licensing requirements pertaining to aesthetic devices differs across countries poses challenges for market players. Growing preference for chemically-based skin care products is a threat to photo rejuvenation devices market.
Key Takeaways
Global Photo Rejuvenation Devices Market Demand is expected to witness high growth.
Regional analysis: The Asia Pacific region is poised to be the fastest growing market for photo rejuvenation devices during the forecast period. Factors such as rising medical tourism, surge in disposable incomes, growing awareness about aesthetic procedures attributable to increasing influence of western culture and media are fueling the market growth in Asia Pacific region.
Key players: Key players operating in the photo rejuvenation devices market are Mylan N.V., Bristol-Myers Squibb, Dr Reddy's Laboratories, Teva Pharmaceuticals USA, Inc., AstraZeneca, Genentech, Eli Lilly and Company, Panacea Biotec, CHIESI USA, Inc., Lupin, and Biocon.
Get More Insights on this Topic- https://www.marketwebjournal.com/photo-rejuvenation-devices-market-size-demand-and-outlook/
English
Arabic
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian