by The global Photo Rejuvenation Devices Market is estimated to be valued at US$ 0.8 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Photo Rejuvenation devices are non-invasive aesthetic devices that use different light therapies such as intense pulsed light (IPL), laser light, and light emitting diodes (LED) to reduce wrinkles, breakage of capillaries, sun spots, and other signs of skin aging. These devices minimize the appearance of fine lines and wrinkles, improve skin texture, reduce pigmentation, and refine pores. Advancements in photo rejuvenation technology with incorporation of light emitting diodes are helping address various skin issues effectively and safely.
Market key trends:
Adoption of light emitting diodes (LED) in photo rejuvenation devices is a key trend witnessed in the market. LED delivers targeted light energy to the skin to stimulate collagen and elastin production resulting in firming and tightening of skin. LED photo rejuvenation is a relatively painless and comfortable treatment option with minimal risks and down time. Manufacturers are focusing on innovating multi-application LED photo rejuvenation systems that can address various skin conditions through customized light therapies. Growing consumer inclination towards non-invasive cosmetic procedures is also fueling the demand for LED based photo rejuvenation treatments.
Porter’s Analysis
Threat of new entrants: Low requirement of capital and regulation barriers makes the threat of new entrants moderate in the global photo rejuvenation devices market.
Bargaining power of buyers: Presence of many established players reduces the bargaining power of the buyers in the global photo rejuvenation devices market.
Bargaining power of suppliers: Established supply network and supplier base reduces the bargaining power of the suppliers in the global photo rejuvenation devices market.
Threat of new substitutes: Limited availability of substitutes makes the threat of new substitutes low in the global photo rejuvenation devices market.
Competitive rivalry: Intense competition among major players may lead to pricing wars and reduced profit margins in the global photo rejuvenation devices market.
Key Takeaways
Global Photo Rejuvenation Devices Market Size is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing demand for non-invasive aesthetic procedures.
Regional analysis: North America dominated the global photo rejuvenation devices market in 2023, owing to the high awareness regarding aesthetic procedures and the strong presence of key market players in the region. Asia Pacific is anticipated to exhibit the fastest growth during the forecast period due to rising medical tourism and increase in disposable incomes.
Key players analysis: Key players operating in the photo rejuvenation devices market are Cynosure, Lumenis, Syneron Medical, Lynton Lasers, EL.En. S.p.A., Fotona, Cutera, Strata Skin Sciences, Lutronic Corporation, Sciton, Alma Lasers, Venus Concepts, Asclepion Laser Technologies, Laseroptek, Quanta System, SharpLight Technologies, Aerolase, HONKON, LISA Laser Products, MeDioStar.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
