Photo Rejuvenation Devices Market: Introduction
- Photo rejuvenation is another form of facial rejuvenation that utilizes broad wavelength light that is absorbed by brown and red pigments present under the skin. The photo rejuvenation process leads to the distribution of energy to both epidermal as well as deep layers of the skin but damages the epidermis. However, this is abated by the application of chilled crystals.
- Photo rejuvenation treatments result in the decline of brown spots, redness, and excess blood vessels (sun damage). Additionally, these results help to provide smooth as well as soft texture to the skin and diminish fine lines or wrinkles on the face. These treatments can be performed on various parts of the body such as neck, shoulders, chest, face, and hands. Generally, these treatments are implemented on the body areas that display signs of photo aging and others.
- The global photo rejuvenation devices market is anticipated to expand at a rapid pace during the forecast period, owing to rise in awareness about cosmetic treatments and the desire to stay and look young.
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Key Drivers of Global Photo Rejuvenation Devices Market
- The aesthetic industry has been growing at an exponential rate, as large part of the population is inclined toward enhancing their appearance. Factors, such as awareness among the population and high disposable incomes are boosting this industry. Technological advancements in the field have made available diverse treatments meant for aesthetic or cosmetic purposes. Presently, a large number of companies are concentrated on technologies that can be utilized in multiple applications. This is expected to drive the global photo rejuvenation devices market during the forecast period.
- Increase in disposable income is resulting in improved living standards of people in developed and emerging economies of the world. Moreover, there has been an increase in the prevalence of skin diseases across all age groups and surge in expenditure on personal care has resulted in high demand for aesthetic treatment. According to the Organisation for Economic Co-operation and Development (OECD), in the U.S., the average household net-adjusted disposable income per capita is US$ 44,049 per year. This figure is much higher than that of the OECD average of US$ 30,563. This has resulted in better standards of living. Increase in disposable income of the population has directly led to individuals availing better treatments for cosmetic needs. This factor is expected to fuel the global photo rejuvenation devices market during the forecast period.
High Risks Associated with Photo Rejuvenation Devices Hamper Market
- Few risks associated with treatments using photo rejuvenation devices, include itching, redness, and swelling of the skin with chances of hyperpigmentation, scarring, blistering, and in rare cases, infections
- Burning of skin during treatments for skin resurfacing, skin rejuvenation, and other facial treatments has been a major source of concern. Side effects of such injuries are sometimes extensively severe, leading to permanent and disfiguring injuries.
- Cases where patients suffered extensive burns, scarring, and hyperpigmentation have led to a mounting number of injury lawsuits. This factor is likely to hinder market growth during the forecast period.
Asia Pacific to Hold a Major Share of Global Photo Rejuvenation Devices Market
- Asia Pacific is a leading consumer of photo rejuvenation devices, followed by North America and Europe. China and India are key markets in the region. The two countries account for over 30% demand for photo rejuvenation devices in the region.
- Increase in population, rise in incidences of skin diseases, and economic growth of China, India, and others countries of Southeast Asia are resulting in high per capita health care expenditure. This is anticipated to drive the photo rejuvenation devices market in the region.
- The photo rejuvenation devices market in Middle East & Africa is estimated to expand at a rapid pace during the forecast period due to increased investments in the health care industry of the region
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Key Players Operating in Global Market:
The global photo rejuvenation devices market is highly competitive with top manufacturers adopting various strategies for attaining maximum market share. Some of the key players operating in the global photo rejuvenation devices market 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.
- Vascular Solutions, Inc.
Global Photo Rejuvenation Devices Market: Research Scope
Global Photo Rejuvenation Devices Market, by Technology Type
- Mechanical (LED and Laser)
- Chemical (chemical Peels)
Global Photo Rejuvenation Devices Market, by Application
Global Photo Rejuvenation Devices Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.