Hyperpigmentation Treatment Devices Industry Outlook and Market Growth Till 2026

The Global Hyperpigmentation Treatment Devices Market, was valued at US$ 1150 Mn in 2017 and is projected to exhibit a CAGR of 7.2% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.

Hyperpigmentation is one of the most common skin problems across the globe. According to a study published in the journal Dermatology Therapy in September 2017, melasma, which is a severe hyperpigmentation condition caused due to hormonal changes, has prevalence in the range of 1% to 50% worldwide. When effective results are not obtained by using topical treatments, device-based therapies are preferred by dermatologists.

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According to 2017 Plastic Surgery Statistics Report by the American Society for Plastic Surgeons, around 161,670 ablative and 426,233 non-ablative laser skin resurfacing procedures were performed in the U.S. in 2017. According to the same source, around 740,287 microdermabrasion procedures were reported in 2017. Such high number of device-based procedures are expected to drive growth of the hyperpigmentation treatment devices market.

Furthermore, increasing aging population worldwide, especially in developed economies and increasing disposable income of population in emerging economies such as China, India, and Brazil are expected to fuel growth of the market. According to the International Society of Aesthetic Plastic Surgery (ISAPS) report, in 2016, Brazil, India, Turkey, Russia, and China were amongst the top 10 countries in device-based cosmetic procedures worldwide.

New product launches and acquisitions by key players are expected to drive growth of the hyperpigmentation treatment devices market.

Key players operating in the global hyperpigmentation treatment devices market include Cutera Inc., Hologic, Inc., Lutronic Corporation, Syneron Medical Ltd., Lumenis Ltd., Alma Lasers, Ltd., AMI, Strata Skin Sciences, Inc., BISON MEDICAL, Solta Medical Inc., Lynton Lasers Ltd., EL.En. S.p.A., Sciton, Inc., Fotona D.O.O., and Alma Lasers, Ltd.

Key players are launching innovative products in the hyperpigmentation treatment devices market, in order to maintain their dominant position in the market. For instance, in July 2018, Candela Corporation was granted with the U.S. Food and Drug Administration (FDA) clearance for its Vbeam Prima, which is an advanced 595 nm pulsed dye laser that can be used for the treatment of various skin conditions such as hyperpigmentation.
In April 2017, BISON MEDICAL’s CYMA clinic CO2 laser system was granted with 510(k) clearance from the U.S. FDA. It opened up strong market such as U.S. for this system. In January 2018, Cutera, Inc. launched Juliet and Secret RF to its product offerings of laser- and energy-based devices.

Market players are acquiring companies to widen their product portfolio and expand their geographical presence. In March 2017, Hologic, Inc. acquired Cynosure, Inc., which is a developer, manufacturer, and supplier of wide range of light-based aesthetic and medical treatment systems.

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Key Takeaways of the Hyperpigmentation Treatment Devices Market:
• The global hyperpigmentation treatment devices market is expected to exhibit a CAGR of 7.2% over the forecast period, owing to increasing adoption of minimally invasive skin procedures using various devices such as laser device and IPL devices
• Among product type, intense pulse light devices segment is expected to hold dominant position due to higher number of procedures performed annually using these devices. However, laser devices segment is expected to exhibit high CAGR over the other products due to several new product launches by key players and faster adoption of these devices by dermatologists. In the near future, laser devices would surpass IPL devices for use in hyperpigmentation treatment.
• Among end users, dermatology clinic segment is expected to account for largest market share due to the expertise they carry in treating severe form of hyperpigmentation and affordability for costlier laser-based devices
• North America is expected to be the dominant region in the hyperpigmentation treatment devices market, followed by Latin America. According to the International Society of Aesthetic Plastic Surgery (ISAPS) report in 2016, S. accounts for 10% of the overall cosmetic procedures in the world. Also, key players are launching new products in the market, which is expected to propel growth of the market in the region. Furthermore, Asia pacific is expected to exhibit highest CAGR due to awareness about device-based treatment of hyperpigmentation and availability of skilled human resource.
• Key players operating in the global hyperpigmentation treatment devices market include Syneron Medical Ltd., Hologic, Inc., Lutronic Corporation, Alma Lasers Ltd., AMI, Venus Concept, Lumenis Ltd., Strata Skin Sciences, Inc., BISON MEDICAL, Cutera Inc., Solta Medical Inc., Lynton Lasers Ltd., and Sciton, Inc.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.