Global Photorejuvenation Equipment Market, by Types (Various Light Emitting Diodes, Lasers, Intense Pulsed Light, and Other Thermal Methods for the Skin Treatment), by Technology (Mechanical, Thermal, and Chemical), by Application (Skin Diseases, Birthmark Removal, Tattoo Removal, Hair Removal, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global photorejuvenation equipment market in 2020 is estimated for more than US$ 2.0 Bn and expected to reach a value of US$ 3.4 Bn by 2028 with a significant CAGR of 6.4%.
As per the report, the global photorejuvenation equipment market is expected to favor growth, owing to the increasing popularity and acceptance of these systems for the treatment of numerous skin-related diseases, rising desire for flawless skin, and increasing disposable income of people in both developed and developing regions. For instance, a study conducted by the American Academy of Dermatology stated that acne is the most common skin condition prevailing in the US and is expected to affect 50 Americans per year. The photorejuvenation equipment is also proved beneficial in curing skin conditions like acne, rosacea, acne scars, angioma, matted telangiectasia, etc. Besides, the growing need for these hi-tech systems for the removal of unwanted hairs from the body is another driving factor that is expected to fuel the overall market growth. On the contrary, factors like the developing risk of skin cancer along with the hypersensitivity to light are some of growth restraining factors retarding the demand for photorejuvenation equipment across the globe.
Furthermore, Meridian Market Consultants (MMC) Study identifies that the upsurge recorded for the importance of aesthetics and beauty of a person couple with the easy removal of permanent tattoos and birthmarks is further expected to propel the growth of global photorejuvenation equipment market. In addition, the safety concerns, implementation of the latest technology in this sector, and the mounting demand for such therapies over expensive cosmetic surgeries also aid in boosting the market growth.
Moreover, the business strategies adopted by the major manufacturers also proved beneficial in boosting the global photorejuvenation equipment market growth during the upcoming years.
MMC Study identifies some of the key participating players in photorejuvenation equipment market globally are Abbott Medical Optics, Biolitec AG, Lumenis Ltd., Candela Corporation, Erchonia Medical, LISA Laser Products, Alcon, Inc., Dornier Medtech GmbH, AESCULIGHT LLC, Deka Laser, Nidek Company Ltd., and Vascular Soultion, Inc.
About Meridian Market Consultants:
Meridian Market Consultants (MMC) is committed to provide deep insights that serve as a creative tool for the client that enables it to perform confidently in the market. At MMC we adhere to the client's needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with a strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.