May 26, 2024
Global Photo Rejuvenation Devices Market

Global Photo Rejuvenation Devices Market is Expected to be Flourished by Technological Advancements in Treatment Options

The global photo rejuvenation devices market consists of various low-level laser therapy devices, intense pulsed light therapy devices, radiofrequency devices, LED therapy devices, and various other non-ablative treatments that use light energy for aesthetic skin rejuvenation. These devices help reduce signs of aging such as fine lines, wrinkles, uneven skin tone, sun damage, etc. without surgery. Photo rejuvenation is a non-invasive outpatient procedure that can provide visible results after just one treatment.

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, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Technological advancements in treatment options and procedures are one of the major drivers of this market. Manufacturers are focusing on developing novel devices such as hybrid and multi-application devices that allow both ablative and non-ablative treatments. This provides physicians with enhanced capabilities to tailor multi-modal treatments and achieve best results. Additionally, increasing demand for non-invasive aesthetic procedures among consumers is another factor fueling the growth of this market. People are opting for anti-aging treatments to reduce signs of premature skin aging without undergoing surgeries like face-lifts and many such invasive treatments. The global photo rejuvenation devices market provides an alternative to address this growing need.

Segment Analysis

The global photo rejuvenation devices market is dominated by the laser and light based devices sub-segment. These devices account for over 70% of the total market share owing to their effectiveness and minimal downtime. Laser based devices such as fractional lasers are preferred for photo therapy and photo rejuvenation treatments.

PEST Analysis

Political: Regulations regarding the use of certain devices differ between regions and countries. Stringent regulations can impact market growth.

Economic: Rising disposable incomes and healthcare spending is fueling the adoption of advanced beauty treatments globally. Photo rejuvenation devices offer non-invasive procedures.

Social: Growing consumer acceptance of various aesthetic procedures to improve physical appearance boosts the market. Adoption of anti-aging treatments is rising among middle-aged consumers.

Technological: Continuous innovations are leading to the development of new and advanced devices with reduced treatment duration and improved results. Hybrid technologies integrating various modalities are gaining traction.

Key Takeaways

The Global Photo Rejuvenation Devices Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising aesthetic consciousness and increasing demand for non-invasive treatments. 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.

Regional analysis: North America dominates the global market supported by advanced healthcare infrastructure and growing medical tourism. Asia Pacific is anticipated to register highest CAGR during the forecast period driven by a surge in medical aesthetics spending and improving access to treatment.

Key players: Key players operating in the global 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, Cipla, and Biocon. These key players are focusing on new product launches and strategic collaborations to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it