SKIN REJUVENATION DEVICES MARKET ANALYSIS

Skin rejuvenation devices are used to treat the skin disorders such as wrinkles, acne marks, sun spots, dry itchy skin, hyperpigmentation, and scars. Several methods and devices are used for skin rejuvenation such as laser based devices (CO2, ND: YAG etc.), photon based devices, radiofrequency devices and mechanical energy based devices. This devices are minimally invasive techniques to rejuvenate the skin and make skin appear younger.

The global skin rejuvenation devices market is estimated to be valued at US$ 2,227.4 million in 2022 and is expected to exhibit a CAGR of 9.5% during the forecast period (2022-2030).

Figure 1. Global Skin Rejuvenation Devices Market Share (%), by End User, 2022

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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. For instance, in April 2022, according to the report by International Society of Aesthetic Plastic Surgery titled Global Aesthetic Survey Results had released its annual Aesthetic Plastic Surgery Statistics with data collected on the Society's new, more accurate digital technology revealing aesthetic plastic surgery surged in 2021. The data showcases a significant increase for face, breast and body procedures. Overall, aesthetic body procedures such as abdominoplasty, buttock augmentation, and liposuction increased by 63% globally since 2020. Breast procedures such as breast augmentation, augmentation/ breast lift and breast lift/reductions were up 48% in the same year. Specialized face procedures such as brow lifts and face lifts increased 54% last year. These marked increases saw Americans spending over $14.6 billion dollars on aesthetic procedures in 2021 with surgical revenues increasing by 63%. 2021 data illustrates a possible effect of life amid the global pandemic, with many Aesthetic Society members signaling to the ubiquity of video meetings and more downtime, to patients undergoing more surgical face and body procedures.

Moreover, in 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.

Figure 2.Global Skin Rejuvenation Devices Market Share (%), by Region, 2022

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Increasing aging population worldwide 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. For instance, in October 2021, according to World Health Organization, between 2017 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. By 2020, the number of people aged 60 years and older will outnumber children younger than 5 years. In 2050, 80% of older people will be living in low- and middle-income countries. By 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.

Moreover, 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.

Global Skin Rejuvenation Devices Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, devices, goods commodities etc. by creating disruptions in distribution channels, and the COVID-19 pandemic has transformed the delivery of medical and surgical services globally. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global skin rejuvenation devices market, owing to the decrease in the surgical procedures during the pandemic time period. For instance, in June 2021, according to data published by the National Center for Biotechnology Information. The Cosmetic Surgery Governance Forum (CSGF) is a network of aesthetic plastic surgery consultants, the network has enabled a collaborative approach to complex cases and a sharing of expertise. This had been particularly valuable to overcome common issues faced during quarantine which reduced the surgeries performed practically. The total number of surgeries decreased by 23.5% during the post-pandemic period (p < 0.05).

Moreover, in April 2021, according to the American Society of Plastic Surgeons, the Society's board-certified plastic surgeons reported they stopped performing elective surgical procedures for an average of 8.1 weeks in 2020 due to COVID-19, or 15 percent of the year, which mirrors the decline in the total number of procedures performed last year.

Global Skin Rejuvenation Devices Market: Key Developments

In April 2022, Skin Science Solutions, a leader in skin and body rejuvenating treatments, announces the launch of icoone roboderm, a new generation device that utilizes unique cellular technologies to offer painless and non-invasive facial and body rejuvenation. Today, Skin Science Solutions announces the launch of the new icoone treatment which is now available at exhale Spa, in the U.S. The icoone was developed with expertise from Professor Jean-Claude Guimberteau, a specialist in reconstructive surgery who dedicated many years to studying the skin concerning the connective tissue structure. The icoone range includes two device models – Beauty and Medical – each available with or without LED and laser light sources, whose action, combined with micro stimulation, allows for quicker and more targeted treatment of specific areas of the body. This way, results are faster and longer-lasting, both in terms of aesthetics and functionality.

Global Skin Rejuvenation Devices Market: Restraint

The major factors that hinder growth of the global skin rejuvenation devices market include lack of reimbursement for skin rejuvenation procedures by insurance companies is expected to limit the utilization of the procedure. For instance, in April 2018, 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.

Key Players

Major players operating in the global 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.