Ablative Skin Resurfacing Market Will Generate New Growth Opportunities by 2025
In an increasingly glamour-conscious world, ablative skin resurfacing is fast gaining prominence. Sensing an opportunity in it, a multitude of companies have jumped into the fray. As a result, the market is choc-a-bloc with both well-entrenched global players and relatively newer ones who are yet to gain a stronghold. Competition among them is stiff.
At present, North America is a leading region in the global ablative skin resurfacing market. This is because the nation has always been spearheading esthetic innovation by dint of being an early adopter of technology. The region also leads on account of numerous established and new esthetic companies being domiciled in the region. The marketing approvals of the FDA act as a guidepost for the country’s own decision-making processes. The dominant position of the region is also a result of increased spending capacity of the people in the region and high prevalence and occurrence of certain conditions such as acne and rosacea.
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Europe is another dominant market, and going forward both North America and Europe are slated to maintain their leading positions in the global ablative skin resurfacing market. In terms of growth rate, however, Asia Pacific will likely steal the show in the years ahead on account of the growing demand for laser and energy devices, rising awareness among consumers about these products through traditional and social media, and rising wealth of people which allows them to splurge on esthetic treatments and products. China, India, and South Korea are said to primarily powering the market in the region.
Some of the prominent names operating in the global ablative skin resurfacing market are Alma Lasers, Cutera, Cynosure, Inc., Syneron Medical Ltd., Sciton, Inc., and Lutronic Corporation.
Ablative skin resurfacing devices are characterized by ablation or removal of outer skin layer. The devices include CO2 and erbium lasers which emit laser beam that penetrates deep into the skin and stimulate collagen formation, thus effectively resurfacing the sub-surface of the skin. The ablative skin resurfacing offers a significant clinical improvement, but is associated with greater postoperative recovery. The laser beam implied in laser resurfacing eliminates the epidermis, upper layer of the skin, and at the same time heats the underlying skin, known as dermis. This procedure results in the development of new collagen fibers. Once the treated area heals, the new skin that forms is firmer and smoother. Increase in consciousness about personal appearance in adults and baby boomer population and lifestyle-related changes such as obesity and hypertension, which affect facial anatomy, are driving the growth of the ablative skin resurfacing devices market.
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The global ablative skin resurfacing devices market can be segmented according to laser type, source, application, end-user, and region. According to laser type, the market is segmented into fully ablative lasers and fractional ablative lasers. On the basis of source, the market is divided into carbon dioxide (C02) lasers and erbium:yttrium-aluminium-garnet (Er:YAG) lasers. On the basis of application, the market is segmented into acne scarring, traumatic and surgical scars, benign skin tumors, warts, fine lines or wrinkles, xanthelasma, rhinophyma, and others. In terms of end-user, the market is segmented into dermatology clinics, beauty centers and spas, and hospitals. On the basis of geography, the ablative skin resurfacing devices market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Globally, North America accounts for a high share of the market in terms of revenue followed by Europe. The markets in emerging countries such as China, South Korea, Brazil, and India are expected to grow significantly over the next five years; however, North America and Europe are projected to continue to dominate the market. North America is at the forefront of esthetic innovation. This is due to a majority of both established and emerging esthetic companies which are headquartered in the region or have a significant esthetic corporate presence. The marketing approvals of the FDA act as a guidepost for the country’s own decision-making processes. The high market share of the region is attributed to the higher disposable income than that of other regions and high prevalence and incidence rate of certain conditions such as acne and rosacea.
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The Asia Pacific market is expected to expand at a high growth rate during the forecast period due rise in demand for laser and energy devices, increased consumer awareness of these products through social and traditional media, and increase in disposable income that can be spent on esthetic treatments and products. In addition, social pressure to look beautiful (especially for women in arranged marriages) has contributed to the rapid growth of the esthetic market in India. Other regions such as Middle East & Africa and Latin America are expected to be prospective markets in the near future due to the high adoption rate of technologically advanced instruments and highly developing health care industry.
The global ablative skin resurfacing devices market is highly fragmented due to the participation of many global as well as new players. Key players operating in the market are Alma Lasers, Cynosure, Inc., Cutera, Syneron Medical Ltd., Lutronic Corporation, and Sciton, Inc.
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