Photo rejuvenation devices are advanced medical aesthetic devices that use light therapies such as laser, intense pulsed light (IPL), and light-emitting diode (LED) to treat various skin problems including skin pigmentation, facial and leg veins, acne scars, sun damage, wrinkles, and fine lines. The growing prevalence of skin problems associated with increasing pollution and sun exposure, rising adoption of minimally and non-invasive aesthetic procedures, and technological innovations are some of the key factors driving the global photo rejuvenation devices market.
Market key trends:
Technological innovations are fueling the growth of the global photo rejuvenation devices market. Various technologies like fractional laser, infrared light, and combination therapies are providing new treatment options with reduced treatment sessions and enhanced efficacy. For instance, fractionated CO2 laser delivers simultaneous treatment of skin layers and leads to collagen stimulation and renewed skin. Similarly, infrared light-based photo rejuvenation technologies provide effective non-ablative skin tightening and wrinkle reduction. Ongoing R&D activities to develop advanced photo rejuvenation technologies are expected to bring more comfortable and effective products, thus propelling the market growth over the forecast period.
Segment Analysis
The global photo rejuvenation devices market is segmented based on product type and end-user. Based on product type, the lasers sub-segment dominates the market as it provides various procedures such as IPL laser, fractional laser, and ablative laser systems with lesser downtime and minimal pain. These photo rejuvenation procedures with laser technology deliver faster treatment protocol.
Key Takeaways
The Global Photo Rejuvenation Devices Market Size is expected to witness high growth. The global photo rejuvenation devices market is estimated to be valued at US$ 527.4 million in 2023 and is expected to exhibit a CAGR of 14.3% over the forecast period 2023 to 2030.
North America dominates the market and is expected to remain the fastest growing region during the forecast period. Factors such as rising consumer awareness regarding aesthetic procedures coupled with increasing adoption of technologically advanced products offer significant growth potential in the North America region. The dominance of North America can be attributed to the favorable reimbursement scenario, rising medical tourism, Technological advancements and increased awareness about photo rejuvenation procedures in the 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. These companies are focusing on new product launches and collaborations with small regional players to strengthen their market presence.
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