How Is Disposable Income Driving Facial Skin Ablative Treatment Technology Demand?

 The Bureau of Economic Analysis (BEA), the U.S. Department of Commerce, states that the personal disposable income of the U.S. populace increased from $17,595.7 billion in the third quarter (Q3) in 2020 to $18,174.1 billion in Q3 of 2021. Likewise, the Reserve Bank of India (RBI) states that the gross national disposable income of the people of India grew from INR 1,92,62,652 crore in the financial year (FY) 2018–2019 to INR 2,06,30,319 crore in the FY 2019–2020. The soaring disposable income of people is encouraging them to use advanced technologies to improve their physical experience. 

Thus, the rising disposable income along with the growing geriatric population will help the facial skin ablative treatment market exhibit a CAGR of 7.8% during 2020–2030. According to P&S Intelligence, the market was valued at $4,134.6 million in 2019 and it will generate $8,394.3 million revenue by 2030. As aging causes wrinkles and fine lines, old people are one of the prominent users of facial skin ablative technology. The United Nations Department of Economic and Social Affairs (UNDESA) predicts that the global population of adults aged 65 years or more will reach around 1.5 billion by 2050.

Currently, companies providing facial skin ablative technology-based products are primarily engaging in product launches to meet the needs of baby boomers, generation X, generation Y, and generation Z. For instance, in August 2020, Cutera Inc. unveiled its Fraxis PRO progressive dermal remodeling technology to improve traditional skin revitalization procedures. This technology combines RF microneedling and fractional CO2 technologies used for skin resurfacing and total dermal remodeling, respectively, in a single device. Fraxis PRO is used to treat fine lines, burn scars, stretch marks, wrinkles, and persistent acne scars by layers of the CO2 laser energy with RF microneedling.

Globally, the North American region led the facial skin ablative treatment market in the preceding years and it is expected to retain its dominance in the foreseeable future as well. This can be attributed to the rising incidence of skin disorders such as scars and acne, surging public awareness about advanced technologies, and growing concerns among individuals about their physical appearance in the region. According to the American Academy of Dermatology (AAD), around 85% of people within the age group 12–24 years in the U.S. experience at least minor acne.

Thus, the growing disposable income of people and the soaring geriatric population will create a huge requirement for facial skin ablative treatment devices in the forthcoming years. 


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