Photorejuvenation Market Is Expected to Generate USD 1.54 Billion by 2031: Allied Market Research

Portland, OR, Feb. 17, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global photorejuvenation market generated $587.4 million in 2021, and is estimated to generate $1.54 billion by 2031 manifesting a CAGR of 10.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

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Impact of COVID-19 on Photorejuvenation Market:

• The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global photorejuvenation market. Supply chain was disrupted due to import & export restrictions.
• The market shown declining results in the growth rate, owing to a reduction in the number of cosmetic procedures due to the pandemic.
• However, the market has recovered post the pandemic.

The research provides detailed segmentation of the global photorejuvenation devices market based on type, modality, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

Based on end user, the hospitals segment held the highest share in 2021, accounting for nearly half of the global photorejuvenation devices market, and would maintain its dominance in terms of revenue through 2031. However, the clinics segment is estimated to witness fastest CAGR of 11.1% during the forecast period.

Based on type, the laser equipment segment held the highest share in 2021, accounting for nearly half of the global photorejuvenation devices market, and would lead the trail through 2031. The Intensed Pulsed Light (IPL) segment is estimated to witness the fastest CAGR of 10.6% during the forecast period. Another segment analyzed in the report include LED equipment.

In terms of modality, the Standalone Photorejuvenation Devices segment captured the largest market share of around two-thirds of the global photorejuvenation devices market in 2021 and is expected to lead the trail during forecast period. The Portable Photorejuvenation Devices segment is likely to achieve the fastest CAGR of 10.7% through 2031.

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Based on region, North America held the largest share in 2021, contributing to nearly half of the global photorejuvenation devices market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, the Asia Pacific region is estimated to grow at the highest CAGR of 11.8% during the forecast period. The other regions analyzed in the report include LAMEA and Europe.

Leading market players of the global photorejuvenation devices market analyzed in the research include Beijing Nubway S&T Co.,Ltd, Biolitec AG, candela corporation, Lynton Laser, Hologic, Inc., Fotona, Lumenis, Deka Laser, Cutera, lutronic.

The report provides a detailed analysis of these key players of the global photorejuvenation devices market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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