Microneedling

Global microneedling will have a boosting in coming years. According to the WK Research, “Global Microneedling Professional Survey Report 2024, Forecast to 2029”, rising preference of aging and geriatric patients to improve quality of skin and rapid advancements in microneedling systems and technology are key factors driving revenue growth of the global microneedling market. The compound annual growth rate (CAGR) for the 2024-2029 period is projected to be 7.70% base on WK Research regression analysis model.

Analysts’ Viewpoint:
“Primary parameters affecting the competitive nature include technological advancements and rapid adoption of advanced devices for improved treatment. In addition, to retain market shares and diversify product portfolios, major players are frequently undertaking mergers & acquisitions activities. Moreover, the competition between key players will turn intense in the coming years as they are focusing more on geographical expansion, strategic collaborations, partnerships, and product launches”, said Kevin Rose, Senior analyst, in WK Research.

Product Introduction:
Microneedling is a cosmetic procedure that uses needles for pricking skin to inflict wounds on the skin tissue. This stimulates production of collagen and elastin, which enhance elasticity of skin and rejuvenate it. The procedure, which is also known as collagen induction therapy, is done using needled surfaces in conjunction with radiofrequency and/or laser to enhance the effect of skin rejuvenation.

Market insight:
Rising demand for microneedling can also be attributed to increasing use of microneedles for transdermal administration of drugs and medicinal formulations in patients. Drawbacks of oral drug delivery due to exposure of drug to acidic and enzymatic environment of digestive system has further increased adoption of microneedles for medical purposes. Stickers and patches pre-loaded with medicinal formulation are applied to the skin of patient for delivery of drug. Increasing incidence of disorder is expected to increase adoption of technique over the coming years and drive revenue growth of the global microneedling market.
However, short-term and long-term side-effects associated with microneedling and chances of pigmentation change and skin infection are some of the major factors restraining revenue growth of the global microneedling market. The U.S. Food and Drug Administration (FDA) notes skin dryness, rough skin, tightness, bleeding, crusting, itching, and peeling among common short-term side effects experienced by patients undergoing microneedling procedures. Lesser known risks include hyper and hypopigmentation, facial lines, burning sensation upon application of cosmetic and personal care products, swollen lymph nodes, reactivation of herpes cold sores, and infection of treated skin. In addition, pregnant individuals and patients of hemophilia, diabetes, compromised immunity, AIDS, and auto-immune diseases are recommended not to undergo the procedure to avoid chances of disorder-specific complications. Also, since microneedling is categorized as a cosmetic procedure and not a medical one unless specified, insurance policies generally do not cover aesthetic treatment, therefore adding to medical burden of patients, which is another factor expected to hamper market revenue growth.

Competition Landscape:
On 24 May 2022, Crown Laboratories announced to acquire aesthetic-focused assets of Eclipse Medcorp, LLC. Product portfolio of the former company will expand to offer dermatological and aesthetic medicinal services and products to customers and will consequently increase customer base. Integration of the latter company with Crown Laboratories is expected to merge product offerings of both companies to enlarge retail and commercial footprint while providing optimized services to pre-existing customers. This WK Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading microneedling companies that include: BASF SE, Chevron Phillips Chemical Company LLC, Clariant AG, Dorf Ketal, The Dow Chemical Company, Evonik Catalysts, Exxon Mobil Corporation, Johnson Matthey, W.R. Grace & Co., Arkema S.A.

Segmentation of Microneedling Market:
According to the source type, the market for microneedling is divided into: Laser, Radiofrequency, Rollers, and Patch. The radiofrequency segment is expected to account for a significantly large revenue share during the forecast period. Microneedling is done in conjunction with radiofrequency waves for enhancing the effect of procedure and inflict additional damage to tissues, which is expected to stimulate more release of elastin and collagen, thereby rejuvenating the skin. The aesthetic medicinal procedure is targeted for treatment of fine lines and wrinkles, sagging skin, stretch marks, and hyperhidrosis, which is increasing its adoption among aging and geriatric patients seeking a better quality of life by improving their skin. Radiofrequency microneedling is also done with Platelet-Rich Plasma (PRP), where platelets extracted from plasma of the patient undergoing microneedling is injected back into the area of treated skin after procedure to maximize release of skin proteins. Rising use of fractional microneedling radiofrequency for reduction of scars and facial oiliness in patients with acne is expected to further increase demand for procedure during the forecast period and drive revenue growth of this segment.
According to the application, the market for microneedling is divided into: Skin Rejuvenation, Alopecia, Sun Damage, Acne, Scar and Spots, and Others. The skin rejuvenation segment is expected to account for a significantly large revenue share during the forecast period. Microneedling procedures find major applications in the field of dermatology, where it is used for rejuvenating facial skin through activation of natural cellular turnover. This stimulates production of collagen and elastin proteins, which provide smoothness and elasticity to skin, hence is gaining adoption among geriatric patients who are undergoing microneedling procedures to reduce wrinkles, fine lines, and face spots. Rising awareness about aesthetic medicine through social media and digital marketing is expected to further broadcast benefits of technique and support revenue growth of this segment during the forecast period.

Microneedling Market: Regional Analysis
In terms of geography, the global microneedling market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. The North America market accounted for largest revenue share. Rising incidence of alopecia and other dermatological conditions and increasing number of mergers and acquisitions by major companies in the countries in this region are major factors driving revenue growth of the microneedling market in North America. According to reports of Academy of Managed Care Pharmacy (AMCP), prevalence of alopecia has increased over the recent few years, with a higher incidence of disorder among women than in men. Increasing number of randomized clinical trials performed for validating effectiveness of microneedling to reduce hair loss is expected to increase adoption of procedure over the coming years. Also, major companies in the market are undergoing mergers and acquisitions and launching new products, to expand their product portfolio, while increasing commercial footprint on a global scale. This is another factor expected to contribute to revenue growth of the microneedling market.

Frequently Asked Questions