Pigmented Lesion Treatment Market Size

Pigmented Lesion Treatment Market Analysis

The Pigmented Lesion Treatment Market size is estimated at USD 3.37 billion in 2024, and is expected to reach USD 4.69 billion by 2029, growing at a CAGR of 6.80% during the forecast period (2024-2029).

The COVID-19 pandemic had a significant impact on the market studied, which was majorly attributed to the restrictions on non-emergency procedures to avoid infection of COVID-19. However, during the pandemic, there was a significant rise in the use of home-based aesthetic devices or procedures, boosting the market growth. For instance, an article in the Aesthetic Surgery Journal published in October 2020 indicated that although there was an initial decrease in the searches for aesthetic interventions, these inquiries had been increasing and will likely continue to increase as the pandemic resolves. Therefore, the pandemic had a considerable impact on the market studied. However, the market reached pre-pandemic demand for pigmented lesion treatment and is expected to grow strongly over the forecast period.

Key factors responsible for the market growth include the global geriatric population and the increasing prevalence of pigmentation disorders. With aging, the occurrence of pigmentation on the skin is common. As per the data from PubMed published in October 2022, the global prevalence of oral pigmentation was estimated to be 20.8% during 2021. The study also stated that oral pigmentation was significantly higher in men, smokers or those exposed to secondhand smoke, and people with fair skin. Furthermore, the same data suggested that the prevalence of oral pigmentation is consistently increasing across Western countries such as the United States and Canada. Hence, the high prevalence of oral pigmentation is believed to propel the market growth significantly over the forecast period.

Furthermore, new product launches from key companies are boosting the market growth. For instance, in June 2022, Cynosure announced the launch of the PicoSure Pro device, an upgrade to the company's best-in-class PicoSure system. The PicoSure Pro device is the first and only 755 nm picosecond laser FDA-approved for use on the market. The device provides energy in a trillionth of a second using pressure rather than heat to offer safe and efficient treatments for undesired pigmentation and skin rejuvenation for all skin types. Hence, with the launch of such advanced products, the market studied is believed to grow in the coming years.

However, side effects associated with certain treatments, such as RF devices, are expected to somewhat restrain the market growth.