VALLEY COTTAGE, N.Y. – Fast-track FDA approvals play a vital role in new product launches, especially in the LED and lasers categories, according to a new FMI study.
Growing commercialization of advanced technology in homecare dermatology and frequent introduction
of user-friendly dermatology services are collectively boosting the growth
prospects for homecare dermatology energy-based devices landscape at
a global level.
According to a newly released intelligence report by Future Market Insights,
exhibiting nearly 5% year over year growth in revenue, the global homecare
dermatology energy-based devices landscape is likely to be worth over US$ 550
Mn in 2020. While maximum incremental opportunity is projected for China and
APEC, North America – despite being the global leader – is likely to witness
moderate growth in coming years.
Rapidly growing demand for homecare devices as a result of a paradigm shift
from conventional clinics to in-house, non-invasive energy treatments is
prominently responsible for healthy revenue growth projections for homecare
dermatology energy-based devices.
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Technological advancements in these devices are widening their application
base, thereby pushing the rate of adoption further at a global level. Another
strong push factor associated with homecare dermatology energy-based devices
includes their availability as the OTC products.
- Product type analysis of market landscape reveals that laser and IPL (intense pulsed light) equipment are enjoying the highest sales, whereas LED equipment is projected to emerge as the most attractive segment in homecare dermatology energy based devices space in the near future.
- Hair removal and acne, followed by wrinkles treatment, are reportedly the most extensively sought after applications of homecare dermatology energy based devices.
- E-commerce dominates all other distribution channels, according to the report. Hyper markets and super markets also remain among the preferred channels for product distribution.
Preview Analysis of Homecare Dermatology Energy-based Devices Market: Growing Incidence of Skin Problems Coupled with Technological Advancements to Fuel Adoption: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028https://www.futuremarketinsights.com/reports/homecare-dermatology-energy-based-devices-market
A Bird’s Eye View of the Global Landscape
“The global market for homecare dermatology energy based devices is a highly
consolidated landscape, wherein the top two players collectively account for
around 60% share of the market revenue. Koninklijke Philips, with more than a
third of the market value share, secures the top position with its extensive
portfolio of intense pulsed light devices used for hair removal,” explains a
senior research analyst while offering the inclusions of the company’s recent
report on the global homecare dermatology energy based devices market.
Adding further to the information about the market competition, the analyst
says, “A majority of companies are prioritizing product innovations in LED, IR,
and lasers segments. Moreover, a large number of market players are taking
efforts for extended product reach through retail partnerships, in addition to
NPD for a wider application base. Companies are also observed to be focusing on
collaborations and acquisitions to reshape their product distribution strategy
for better profitability”.
FDA Approvals Are Relatively Easy
Relatively easy and faster FDA approvals for homecare dermatology energy
based devices are driving improved appearance of these devices in tandem with
the latest handheld gadgets, which prominently curtail the need for frequent
visits to professional cosmetic treatment centers.
A recent example includes FDA clearance for Titan – the anti-aging device
launched by Skinovations Inc. later in 2017.
On a similar line, North American and European markets for homecare dermatology energy based devices are witnessing remarkable adoption in recent years. FMI identifies a slew of business expansion opportunities in the aforementioned regions for manufacturers of homecare dermatology energy based devices.
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Moreover, growing R&D efforts as manufacturers in the US zoom in on the
production quality, is likely to shape the performance of North America’s
market for homecare dermatology energy based devices.
Combination of Technologies for Better Treatment Output
Making the most of the best attributes of LED and lasers technologies, a new trend among manufacturers now involves the combination of both the technologies for manufacturing homecare dermatology energy based devices. While these devices are claimed to be effectively reducing fine lines and improving skin tone with LED, lasers enable them to be highly target specific. A recent example is of YA-MAN’s RF Beaute Photo PLUS.
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Mr. Abhishek Budholiya
Future Market Insights
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