Advent of Non-Surgical Cosmetic Procedure and Urge of Innovation in The Market is Creating Growth Opportunities for Key Players
Published On: January 2018
Skin rejuvenation has become a popular concept in both the developed and developing regions across the globe. Dermabrasion, chemical peels, microdermabrasion, photo rejuvenation, micro ablative resurfacing, and non-surgical skin tightening are various non-surgical cosmetic procedures that are now popular in the market. These procedures are indicated for various skin problems such as acne, pimple, wrinkles, stretch marks, and many more. Dermabrasion & microneedling are two major procedures used for skin rejuvenation. Dermabrasion has become one of the most popular procedure from the last few years.
Overlook of drivers and restraints for the market
At first, technological advancement is the main factor driving the growth of the dermabrasion & microneedling market. The 21st century is witnessing new developments in the skin care industry every day in various aspects. New technologies offer a wide array of products to treat a number of skin problems. The overall growth of skin care industry, and availability of skilled healthcare professionals such as a dermatologist, and surgeons drive the growth of the market.
According to the American Academy of Dermatology (AAD), skin diseases affect one in every fourth American. The prevalence of skin diseases such as acne is also found to be increasing in Canada. According to the American Academy of Dermatology Association, around 50 million Americans get affected annually with acne, and it is the most common skin condition in the Americas. Additionally, approximately 85% of people between the ages of 12 and 24 experience at least minor acne. According to the Acne and Rosacea Society of Canada in 2016, acne affected about 90% of the teens in Canada. Approximately, 5 million people within the region have medical conditions for acne. Moreover, it was estimated that 1 in 2 teens (55%) get acne scars on the face.
Additionally, increasing number of minimally invasive procedures in dermatology is another factor accelerating the growth of the dermabrasion & microneedling market. According to the American Society of Plastic Surgeons, about 15.9 million surgical and minimally-invasive cosmetic procedures were performed in the United States in 2015.
Rising cost associated with the treatment of skin problems also accelerate the growth of the market. According to the American Academy of Dermatology Association, in 2016 the costs associated with the treatment of acne exceeded USD 3 billion.
However, availability of alternative methods such as microdermabrasion, and laser therapy has led to the steady growth of the market. Microneedling, also known as collagen induction therapy, is now gaining grounds in the developed countries across the globe.
Key Players to Watch
Key players operating in dermabrasion market are Stryker, Medtronic, CONMED Corporation, MicroAire Surgical Instruments, LLC., Delasco, George Tiemann & Co., and Osada, Inc.
Bellus Medical, Dermapen World, MDPen, DermaQuip, and Eclipse Aesthetics are key players offering products for microneedling market.
Key players are setting a benchmark by offering innovation in devices and accessories leading to a competitive environment in the cosmetic and skin care industry. This urge of innovation is attributed to an increasing demand for new hand held devices for cosmetic procedures as well as the flourishing growth of skin care industry in the U.S. and European countries such as Germany, France, and the U.K.
The players are now focusing on product differentiation to reach maximum customers in the market. This is the most important strategy for achieving growth in the dermabrasion & microneedling market. For instance, Bellus Medical is one of the major player offering a various product for microneedling. SkinPen, SkinPen, Skinfuse Treatment Kit, Bio-Sheath, Skinfuse, Lift HG, and Rescue are the popular products of the company. Product innovation and differentiation is a major strategic approach to the company to strengthen its position in the market.
Dermapen World is another key player. Geographical expansion to tap new markets across the globe and product differentiation in the microneedling market are two major strategies of the company to sustain growth.
Additionally, key developments of the companies also determine the growth of the market. Bellus Medical has achieved its growth in the aesthetics and skin care market owing to various development made last year. In October 2017, the company launched Allumera, a topical cream in photodynamic cosmetic (PDC). It is formulated to improve the appearance of skin, reduce signs of aging, and minimize the appearance of pores. This will help the company to tap more customers in the market. In August 2017, the company expanded its business to Canada offering its products such as the SkinPen, Skinfuse, and Allumera.
Scope of dermabrasion & microneedling market in America
The Americas account for the largest market share across the globe. Increasing prevalence of acne, availability of technologically advanced devices, and rising number of specialty skin care centers are driving the market. Further, the skin care centers and the research laboratories are involved in research and development to provide better treatment.
According to the American Academy of Dermatology Association, around 50 million Americans get affected annually with acne, and it is the most common skin condition in the Americas.
As per the American Academy of Dermatology, in 2015, acne remains untreated in nearly 40% of the population. It also states that around 85% people between the ages of 12 and 24 experience at least minor acne and early treatment and diagnosis of acne are the best way to prevent scars.
