Global Microdermabrasion Market – Synopsis
Microdermabrasion or microderm is a technique of exfoliation with the use of a machine to improve health and appearance of skin by sloughing off dead skin cells, allowing new cells to the surface. Considered as a non-invasive treatment Microdermabrasion is safe for individuals with all skin types and textures. However, Microdermabrasion treatment is generally used to remove various types of scars caused due to hyperpigmentation, acne & Trauma, Photo-Damage, and Stretch Marks, among others.
Scars, especially on the face affect a person’s appearance and hence personality, further making the person vulnerable to lose the self-confidence. With the rapid urbanization and increasing access to the improved healthcare, which is fuelled by the improving economic conditions, people are becoming conscious about their appearance. To refine their looks, they increasingly opt for Microdermabrasion. Augmenting uptake is the key factor for the growth of Microdermabrasion market.
Acknowledging kind of the growth the market perceives currently; Market Research Future (MRFR) has recently published a study report giving out the complete market forecast up to 2023. In its analysis, MRFR asserts that the global Microdermabrasion market furthering the gains will register a growth of USD 802.44 Million by 2023 with 3.42% CAGR during 2017 to 2023.
With the extensive research in the field, this treatment has become safer and effective to remove the scar. Manufacturers involved in the medical or these machines, strive to develop new and innovative products continually, which can provide advanced solutions to the scar removal, easing the processes further. Additionally, factors contributing the market growth include growing population & urbanization worldwide. Improving economic conditions, globally, are providing impetus to the market growth, increasing consumers’ purchasing power.
On the hand, factors such as the availability of alternative treatments such as chemical peel and laser skin resurfacing coupled with the increasing uptake of the laser resurfacing treatment are impeding the market growth.
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Apart from this, advantages like quick recovery, less time consumption and better results boosts the market growth. Additionally, development of new technologically advanced devices, and increasing demand for cosmetics also influence the growth of the market.
The availability of alternative treatments like vibraderm, exfoliating products, chemical peels, photo abrasion and laser resurfacing are major restraints in market growth. On the other hand, factors such as high procedural costs and risks of side effects followed by increasing use of the lasers in dermatology will retrain the market growth during the 2017 to 2023.
The global microdermabrasion market size is approximate to reach USD 802.44 million by 2023 from USD 609.79 million in 2016 at a CAGR of 3.42% from 2017 to 2023.
Global Microdermabrasion Market –Competitive Landscape
The global microdermabrasion market is observed to be growing due to increasing developments by the prominent players in this market like Johnson & Johnson Services Inc., Procter & Gamble, Altair Instruments, Derma TX and other companies which boosts global microdermabrasion market. The key players in this market focuses on strategy to maintain its position in this market such as use of advanced technology for developing products, tie-ups with online portals and collaborations with other companies.
April, 2017 Johnson & Johnson announced tie-up with online portal aCommerce for selling company’s skincare product brands Neutrogena and Aveeno skincare. This collaboration helped the company to increase its skincare market in Philippines.
January, 2017 Derma TX Advanced skin care launched a microdermabrasion system for treatment of specific skincare issue. This launch aided rise in the company’s business in cosmeceutical skincare products.
March, 2014 Proctor & Gamble Beauty scientists offered insights into new ingredient formulation and effective skin care routines at 72nd Annual Meeting of the American Academy of Dermatology (AAD). Proctor & Gamble researchers showcased advanced studies in skincare technologies which included topics like cellular bioenergetics, anti-aging technologies, sensitive body wash efficiency and microdermabrasion systems.
The Americas is leading region in global microdermabrasion market owing to increasing prevalence of skin diseases such as acne, rising demands for outpatient and minimally invasive microdermabrasion procedures, and growing expenses on the cosmetics within this region.
The European region holds second largest market share in the global microdermabrasion market due to increasing incidence of skin related problems and increasing demand for anti-wrinkle and anti-aging treatments. Additionally, growing awareness about use of advanced technologies for skincare and rising healthcare expenditure facilities boosts the market growth in this region.
The Asia Pacific is the fastest growing market due to increased consumer awareness about aesthetic skin care treatment and growing demand for minimally invasive procedures and the growing prevalence of dermal conditions fuels the market growth in this region. Further, increasing prevalence and growing incidence of conditions of hyperpigmentation, stretch marks, and others fuels the market growth in this region.
The Middle East and Africa is the least growing market due to lack of awareness about microdermabrasion procedure and presence of poor countries especially in African region. The Middle East dominates the market in this region owing to huge healthcare expenditure and developed healthcare sector. Additionally, the presence of developed countries like Kuwait, Qatar and Saudi Arabia boosts the microdermabrasion market in this region.
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