Cynosure, Inc. (CYNO) said it obtained 510(k) clearance from the U.S. Food and Drug Administration, or FDA, to market a home-use over the counter device for the treatment of facial wrinkles.
The device was developed in partnership with Unilever Plc (UL, ULVR.L). The device, which is indicated for the treatment of both periorbital and perioral wrinkles, is expected to be launched commercially by Unilever in 2013.
According to the research firm Medical Insight, worldwide sales of home-use aesthetic devices are expected to grow at a compound annual rate of 12.3% from $740.4 million in 2011 to above $1.3 billion in 2016. In North America, Medical Insight estimates the home-use category is expected to grow by a compound annual rate of 12.1% from $451.6 million in 2011 to around $800 million by 2016.
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