According to a new report published by UnivDatos Markets Insights, the Skincare Devices Market was valued at more than USD 11 billion in 2020 and is expected to grow at a CAGR of around 13% from 2022-2028. The analysis has been segmented into Product (Treatment Devices, Photo Rejuvenation Devices, Liposuction Devices, Laser-Based Devices, Image-Guided Systems, and Others); Application (Skin Tightening & Body Contouring, Cellulite Reduction, Disease Diagnosis & Treatment, Hair Removal, and Skin Rejuvenation); End-User (Dermatology Clinics, Hospitals, and Spas & Salons); and Region/Country.
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The skincare devices market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the skincare devices market. The skincare devices market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the skincare devices market at the global and regional levels.
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Market Overview
The key factor driving the growth of the skincare devices market globally is the increased concerns among the young population about their aesthetics and appearances. The expansion of the skin devices market is being aided by rising disposable income and increased global awareness of the availability of various skin devices and treatments. The increased adoption rate of technological advances and increasing living standards have both favorably influenced the market growth for medical devices.
The rise in skin disorders, the large aging population, and skin problems caused by sun rays are some of the factors that are propelling the global market for skin devices. In the upcoming years, it is anticipated that these factors would increase market demand. For instance, according to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice what it was in 1980 at 382 million. The elderly population is expected to double again by 2050 and reach nearly 2.1 billion worldwide.
Some of the major players operating in the market include AbbVie Inc., Merz Pharma, Lumenis Be Ltd., Alma Lasers Ltd., Cutera, Hologic Inc., Panasonic Holdings Corporation, Bausch Health Companies Inc., TRIA BEAUTY, Michelson Diagnostics UK Ltd
COVID-19 Impact
The market for skincare devices had been considerably impacted by the COVID-19 outbreak. The lockdown and supply chain disruption initially had a negative impact on the market. Due to the nearly complete suspension of non-COVID-19 related procedures, restricted manufacturing operations, and supply chain interruption, the market saw short-term negative growth.
The global skincare devices market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on application, the market is segmented into skin tightening & body contouring, cellulite reduction, disease diagnosis & treatment, hair removal, and skin rejuvenation. Among them, the hair removal category is to witness a higher CAGR during the forecast period. This is mainly due to the Consumers prefer beauty clinics over other settings because of their expertise in the field of hair removal treatment and increasing concerns related to hair fall problems as well as the introduction of more technologically enhanced products will contribute to the market growth.
· On the basis of end-user, the market is categorized into dermatology clinics, hospitals, and spas & salons. Among these, dermatology clinics hold a considerable growth rate during the forecast period. Dermatology clinics are cosmetic and medical facilities that specialize in the diagnosis and treatment of skin diseases. Certified plastic surgeons provide both surgical and nonsurgical procedures in dermatological clinics. For instance, according to TripleTree, there will be 14,000 dermatologists and 9,000 dermatology practices in the United States by the year 2020.
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Skincare Devices Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising demand for various skincare-related services in the region, a highly aware and economically stable population coupled with many cosmetic procedures performed in the region are the main factors for the growth of the market. For instance, according to the American Society of Plastic Surgeons (ASPS), in 2020, about 15.6 million cosmetic procedures were performed in the U.S.
The major players targeting the market include
· AbbVie Inc.
· Merz Pharma
· Lumenis Be Ltd.
· Alma Lasers Ltd.
· Cutera
· Hologic Inc.
· Panasonic Holdings Corporation
· Bausch Health Companies Inc.
· TRIA BEAUTY
· Michelson Diagnostics UK Ltd
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Skincare Devices Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the skincare devices market?
• Which factors are influencing the skincare devices market over the forecast period?
• What are the global challenges, threats, and risks in the skincare devices market?
• Which factors are propelling and restraining the skincare devices market?
• What are the demanding global regions of the skincare devices market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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