Cynosure earns FDA clearance for at-home wrinkle treatment device
Cynosure (NASDAQ: CYNO; Westford, MA) has received FDA clearance to market a home-use, over-the-counter device for treating facial wrinkles. Developed in partnership with Unilever (NYSE: UL), the device treats both periorbital and perioral wrinkles, and is slated for commercial launch by Unilever in 2013.
Worldwide sales of home-use aesthetic devices are expected to grow at a compound annual growth rate (CAGR) of 12.3% from $740.4 million in 2011 to more than $1.3 billion in 2016, says research firm Medical Insight. In North America alone, they estimate the home-use category is expected to grow at a CAGR of 12.1% from $451.6 million in 2011 to approximately $800 million by 2016.
Cynosure signed a multi-year funded cooperative development agreement with Unilever in June 2009 to develop and commercialize light-based devices targeting the home-use personal care market.
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