Pune, India, Feb. 18, 2021 (GLOBE NEWSWIRE) — According to The Insight Partners research study on the skin tightening market was valued at US$ 1,350.40 million in 2019 and is projected to reach US$ 2,350.22 million by 2027; it is expected to grow at a CAGR of 7.3% during 2020–2027. The growth of the market is attributed to the increasing number of cosmetic procedures performed every year and growing aging population. However, the high cost of cosmetic procedures obstructs the growth of the market.
In 2019, North America dominated the global skin tightening market and accounted for approximately half of the market revenue. The market growth in North America is credited to the rising incidence of skin diseases and technological advancements in skin tightening devices, followed by FDA approvals. On the basis of product type, the skin tightening market is segmented into radio frequency skin tightening, laser skin tightening, and ultrasound skin tightening. The radiofrequency skin tightening segment accounted for more than 50% of the skin tightening market in 2019. On the basis of treatment type, the skin tightening market is segmented into non-invasive and minimally invasive. The non-invasive segment is expected to register a higher CAGR in the market during the forecast period owing to high demand from cosmetologists.
On the basis of portability, the standalone segment accounted for a larger share in the skin tightening market in 2019. On the basis of application, the skin tightening market is segmented into wrinkle reduction, face lifting, body lifting, anti-aging and other. The anti-ageing and wrinkle reduction segment is anticipated to hold major share throughout the forecast period. On the basis of end user, the skin tightening market is segmented into dermatology clinics, hospitals, beauty salons and cosmetic centers and home care. The dermatology clinics segment is anticipated to dominate the market in 2019.
Skin Tightening Market to 2027 – Global Analysis and Forecast – by Product Type, Portability, Treatment Type, Application, and End User
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(Skin Tightening Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America)
Skin tightening is a cosmetic procedure that involves changing the external appearance of face, stomach, arm, and a few other body parts. It is a non-invasive or minimally invasive procedure with a fewer complications associated with it and fast pace of recovery. Minimal invasiveness lessens the complications, further allowing speedy recovery. The non-surgical skin tightening treatments can be offered in the form of in-office procedures or at-home devices. According to the ASPS National Clearinghouse of Plastic Surgery Procedural Statistics data, ~18 million people underwent both surgical and minimally invasive cosmetic procedures in the US in 2018. Such an increasingly high number of cosmetic procedures performed every year in many countries is driving the market growth.
Skin Tightening Market: Segmental Overview
In terms of product type, the ultrasound skin tightening segment is anticipated to register the highest CAGR in the skin tightening market during the forecast period. The ultrasound method is advantageous as it skips epidermal heating, and is safe and effective method for the treatment of mild skin lifting and tightening. In terms of treatment type, the non-invasive segment accounted for more than 49% share in global skin tightening market in 2019. In terms of application, the market for the wrinkle reduction segment is anticipated to grow at the highest CAGR during the forecast period, and the projected market growth can be attributed to the rise in geriatric population across the world.
Skin Tightening Market: Competition Landscape & Key Developments
MerzPharma, Cutera Inc., Alma Lasers, BRERA MEDICAL TECHNOLOGIES S.R.L., Pollogen, BISON MEDICAL, Cynosure, Bausch Health Companies Inc., AbbVie Inc., and BTL Group of Companies are among the key companies operating in the global skin tightening market. These leading companies are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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In May 2020, Abbvie announced it’s acquisition of Allergan plc after receiving regulatory approval from government authorities.
In February 2020, Cynosure made an announcement regarding the US Food and Drug Administration (FDA) approval of the Potenz Radiofrequency (RF) microneedling device, which became the first and only FDA-certified four-mode RF micro needling device that offers clinicians unrivaled versatility and personalized patient treatment.
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