Market Size of Photorejuvenation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Photorejuvenation Market Analysis
The photorejuvenation market is expected to register a CAGR of 6.5% over the forecast period.
The COVID-19 pandemic had a significant impact on the photorejuvenation market. However, the strict lockdowns and government regulations slowed down the spread of COVID-19, which increased the demand for aesthetic treatments. For instance, according to an article published by PubMed Central in October 2021, a study was conducted among dermatologists in the United States, which showed that consultations for cosmetic or aesthetic procedures increased by more than 50%. Another study stated that more than 57% of the patients had an increased interest in cosmetic procedures on the face. According to the article published by Dovepress in July 2022, 91% of patients continued their aesthetic treatment despite the pandemic, and 75% of patients reported new interest in proceeding with treatments not previously tried. Currently, the market has regained its momentum with ease in restrictions.
The key contributors to the market growth are the rising burden of skin diseases and the rising preferences of people toward non-invasive procedures. According to an article published by the Journal of the European Academy of Dermatology & Venerology in March 2022, a population-based study was conducted in Europe, which showed that 43.35% of people had suffered from at least one dermatological condition during the last year. It is estimated that more than 94 million Europeans complain of having uncomfortable skin sensations like an itch, burning sensation, or dryness.
According to an article published by Nature in October 2022, a study was conducted in the Thai population, which showed that the overall prevalence of skin diseases was close to 7%, and skin diseases like dermatitis, bacterial skin infection, and urticaria were the most common among them. Hence, such factors are expected to fuel the demand for photorejuvenation procedures in the future.
In addition, new product launches and strategic activities by major players in the market are positively affecting the growth of the studied market. For example, in March 2022, Cynosure, a company focused on manufacturing and developing energy-based aesthetic and medical treatment systems, entered a distribution partnership with Jeisys Medical KK in Japan. Under the terms of the agreement, Jeisys Medical will have exclusive distribution rights for key premier products within Cynosure's energy-based laser portfolio, including photorejuvenation devices, in Japan.
Therefore, owing to such factors, the photorejuvenation market is anticipated to witness growth over the forecast period. However, the high cost of devices is likely to impede the market's growth.
