Rapid Growth in Microneedling Devices Market

Initially introduced as a method of skin rejuvenation, microneedling has recently emerged as a minimally invasive, non-ablative alternative for the treatment of a variety of skin concerns. While its ability to stimulate collagen and elastin production has revealed favorable results in patients looking to rejuvenate their skin, the procedure currently holds a wide range of indications ranging from acne scarring and rosacea to wrinkles and stretch marks, as well as many more.

Microneedling has been identified as a safe and effective method of skin rejuvenation as well as an efficacious therapy for scarring and wrinkling, according to a 2018 systematic review of clinical data on the cosmetic procedure. As a result, the number of microneedling treatments has surged over recent years and the therapy continues to grow in popularity among patients, leading to rapid market growth.

Forecasted Market Growth

Valued at $544.4 million in 2017, the global dermabrasion and microneedling market is expected to continue developing at a fast rate driven in part by technological advancements, increasing incidence of skin conditions, and expanding interest in alternative skin treatment options. Current expert projections anticipate a significant compound annual growth rate of 3.68% in the global microneedling devices market through 2023 as the demand for non-invasive cosmetic solutions increases.

Market Dynamics

Many factors are fueling market development, including the evolution of the dermatology and cosmetology sectors, which has resulted in greater interest in and awareness of therapeutic options for skin concerns. The increased incidence of hyperpigmentation, sun damage, and other dermatological conditions is expected to promote market growth, as will the rising awareness of skin-related diseases.

Alongside numerous side effects and recovery time, the high costs of more invasive, surgical procedures deter many patients who instead are increasingly turning to minimally invasive treatments. Due to its safety and comparatively non-invasive nature, microneedling is becoming a preferred therapeutic option for a growing range of skin issues, boosting growth of the global microneedling devices market.

Increased accessibility of aesthetic services along with the greater availability of skilled aesthetic medicine professionals and various non-invasive procedures are also expected to contribute significantly to market growth. Meanwhile, innovations made to the initial microneedling device over the last decade, which have greatly improved the treatment process and patient outcomes, will further drive forecasted development of the devices market.

Regional Market Insights

With the recent FDA approval and launch of several new microneedling devices – such as SkinPen by Bellus Medicals – North America accounted for the largest regional market share in 2017. The increasing incidence of skin-related diseases, including post-inflammatory hyperpigmentation and melasma in Asia Pacific is forecasted to spur growth in the microneedling devices market in the region. Together, both regions are expected to contribute to significant development of the global microneedling devices market.

The recently emerging development of new products such as at-home microneedling device will enhance market share for GmbH, Dermapen, and other key players, while the growing availability of cosmetic services will continue to contribute to surges in popularity among patients and dermatologist practices. As evidenced by rapid growth in this sector, the rising trend of alternative cosmetic procedures may soon translate to developments in other non-invasive technology markets.

A full report detailing the projected growth of the microneedling devices market can be accessed at Market Reports World.