Microneedling Market: Introduction
According to the report, the global microneedling market was valued at US$ 481.3 Mn in 2020 and is projected to expand at a CAGR of 7.8% from 2021 to 2031. Microneedling is a wrinkle, scar, and atypical texture or pigment therapy. Microneedling is a procedure that involves the use of needles to make small holes in the skin. The aim of the procedure is to generate new collagen and skin tissue. The treatment is primarily used on the face. It is a minimally invasive procedure used to treat wrinkles, stretch marks, hyperpigmentation, scars, and cellulite. This promotes the synthesis of collagen and elastin fibers, as well as the formation of capillaries, resulting in tissue remodeling.
The global microneedling market is driven by rise in awareness and concerns about physical appearance, combined with increase in demand for non-surgical treatments that provide maximum results with minimal downtime.
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Increase in Incidence of Skin Diseases and Disorders
Rise in incidence of uneven skin tone and skin discoloration is projected to boost the growth of the global microneedling devices market. According to a report by the Journal of Clinical and Aesthetic Dermatology (July 2017), the prevalence of uneven skin tone and skin discoloration among the population of the U.S. was around 56.4% and 55.9%. Moreover, rise in cost of cosmetic surgeries and high discomfort level of these surgeries compared to microneedling procedure is expected to boost the growth of the microneedling market. According to the National Center for Biotechnology Information (NCBI) report in August 2017, the microneedling procedure is well tolerated with less discomfort and pain.
Furthermore, the procedure has less side effects compared to other invasive treatments such as radio frequency and laser treatment. This will, in turn, increase the uptake of microneedling devices, thereby driving the market.
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Automated to Lead Global Microneedling Market
In terms of type, the global microneedling market has been bifurcated into automated and manual. The automated segment accounted for 64.9% share of the market in 2020. It is anticipated to be a lucrative segment during the forecast period. The segment is expected to reach US$ 728.3 Mn by 2031, expanding at a CAGR of 8% from 2021 to 2031. Automated microneedling devices allow the operator to define the diffusion depth and frequency of the needle penetration, and control the treatment and coverage rather than rely on the operator to physically roll the device over the skin. These advanced features are likely to augment the automated segment in the near future.
Microneedling Market Dynamics
Based on material, the global microneedling market has been classified into dermapen, dermaroller, RF microneedling devices, and others. The segment is driven by rise in prevalence of skin disorders, increase in demand for minimally invasive aesthetic procedures, and surge in FDA approval for RF microneedling devices. In terms of material, the stainless steel segment accounted for 43.6% share of the market in 2020. The segment is projected to gain market share to reach 46.6% in 2031. The segment is anticipated to witness strong growth, as stainless steel needles are ideal in promoting collagen production and smoothing skin's texture and are inherently more sterile.
Based on application, the skin rejuvenation segment accounted for 33.5% share of the market in 2020. The segment is expected to gain market share to reach 36.4% in 2031.
The hospitals end-user segment accounted for 47.8% share of the market in 2020.
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North America to Lead Global Microneedling Market
The microneedling market in North America was valued at US$ 217.2 Mn in 2020 and is projected to reach US$ 500.2 Mn by 2031, expanding at a CAGR of 7.9% from 2021 to 2031. The market in North America is driven by increase in number of aesthetic procedures performed in the past few years and rise in prevalence of skin disorders. Surge in demand for anti-aging therapies also boosts the growth of the market in the region, as microneedling has proven its efficacy as anti-aging therapy.
Competition Landscape
The global microneedling market is fragmented due to the presence of a large number of leading players. Key players operating in the global market include Lumenis, Cutera, Cynosure, EndyMed Medical Ltd., Candela Medical, Environ Skin Care, Eclipse Med Global, Derma Quip, Lutronic, Dermaroller GmbH, Crown Aesthetics, Shenb Co. Ltd., Veroderm Medical Technologies, Nubway Co. Ltd., Timpac Healthcare, and Sincoheren Ltd.
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