Skincare Devices Market Surpassed USD 12.7 Billion in 2021, Driven by Rising Incidence of Hormonal Disorders | overviewSLICE

The Global skin care device the market size was estimated at US$12.7 billion in 2021 and is expected to grow at a CAGR of 11.3% Between 2023 to 2032.

The vast majority of people know about beauty products and how to use them. Beauty devices have several advantages for users and professionals. They can be used to heal, improve and beautify the appearance of the skin. Devices for the face, hair, arms and feet, among others, are available in today’s market.

These beauty gadgets are widely used in salons, spas and beauty treatment clinics. Skin care gadgets have a wide range of applications in dermatology, including diagnosis, treatment, skin improvement, and various aesthetic purposes for cosmetic body care.

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Major Players of Global Skin Care Devices Market are:

Some of the leading companies in the global skin care treatment devices market include Allergan, Bausch Health Companies, Inc., Cutera, Candela Corporation, Panasonic Corporation, Hologic, Inc., Merz Pharma, Michelson Diagnostics Ltd., Lumenis BE ltd. and Photomedex Inc. These players are focused on expanding, diversifying their market presence and securing new clientele to capitalize on current business prospects.

Factors accelerating the growth of the skin care devices market

Growing awareness of cosmetic products, rising prevalence of skin diseases, growing elderly population, rising disposable incomes, and growing incidence of hormonal disorders are the major drivers for the market expansion.

The rising prevalence of cosmetic operations such as liposuction, skin rejuvenation, dermal fillers and skin rejuvenation to make individuals look younger and fitter has fueled the growth of the global skin care devices market .

Additionally, operations such as laser tattoo removal, scar removal, and spot reduction have also led to an increase in the demand for skincare devices.

Growing demand for durable consumer electronics has broadened the revenue prospects for organizations in the skin care devices market. Additionally, an increase in R&D activity results in the development of new products in the skin care treatment device market.

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Statistical data on skin-related diseases/abnormalities

Skin problems such as acne, rosacea, atopic dermatitis, psoriasis and skin cancer are increasingly common.

As reported by the American Academy of Dermatology Association, more than 50 million people in the United States are plagued with pimples each year, approximately 7.5 million people suffer from psoriasis, 16 million people suffer from rosacea and approximately 9500 people are diagnosed with skin cancer every day.

Such a high prevalence increases the likelihood of patients seeking advanced treatment and hence an increased demand for skin care devices.

Non-invasive methods of fat removal are also becoming more popular as obesity rates rise around the world. People with large salaries available are willing to spend on such operations, which is expected to drive the growth of the market.

To create awareness of the benefits of skin care devices, companies offer discount prices and generate interest through marketing and advertising in online sales channels. As a result of such campaigns, the demand for skin care gadgets has increased.

Key segments of the global skin care devices market:

By type

  • Diagnostic devices
  • Biopsy devices
  • Image guidance systems
  • Dermatoscopes

By technology

  • LED therapy
  • Lasabrasion
  • Liposuction
  • Microdermabrasion
  • Electrosurgical
  • Cryotherapy

By app

  • Cellulite reduction
  • Diagnosis and treatment of the disease
  • Hair removal
  • Skin tightening and body contouring
  • Skin rejuvenation
  • Damage repair

By geography

  • North America
    • United States
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • UK
    • Italy
    • France
    • Spain
    • The rest of Europe
  • Asia Pacific
    • Japan
    • India
    • China
    • Australia
    • Rest of Asia-Pacific
  • Middle East and Africa
    • United Arab Emirates
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East and Africa
  • South America
    • Brazil
    • Rest of South America

Skin Care Devices Market Regional Performance

North America controls 40% of the global market for skincare devices. The existence of a large base of high-income consumers, along with the introduction of advanced skin care technologies, are driving the expansion of the market.

Additionally, increasing skin problems and adoption of sophisticated products and processes will drive the growth of this market.

The Asia-Pacific market is also rapidly expanding and is expected to rise at a rapid CAGR during the forecast period. due to its large population, high incidence of skin diseases and obesity, and older population.

The number of older people is expected to double from 535 million in 2015 to around 1.3 billion by 2050, according to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP).

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Impact of COVID-19 on the Skin Care Devices Market

The rapid spread of COVID-19 has had a profound influence on the global healthcare industry. COVID-19 has had a detrimental influence on the global skin care devices market, especially in the first two quarters of 2020.

The effect of global economic circumstances and investor sentiment has a direct impact on the operations of significant companies. As a result, the recession they experienced was mainly caused by closed and non-operational dermatology facilities, spas and salons in various countries.

Due to widespread financial difficulties, which have prevented individuals from spending on non-essential products, the number of treatments and markets for skincare devices has declined.

Factors limiting the growth of the Skin Care Devices Market

Creating skincare devices is a time-consuming and expensive process that requires substantial capital, clinical trial experience, quality management systems, scientific standards, and technological capabilities.

Due to tough regulations imposed by regulators, vendors of skincare devices are forced to invest in clinical studies and post-approval safety monitoring systems. Additionally, numerous incidents involving the malfunctioning of skin care products have resulted in patient deaths and disabilities.

As a result, government officials have implemented a variety of harsh standards and regulations for electronic features, which are expected to restrain the market growth.

The shortage of skilled dermatologists needed to properly use the device and prevent negative responses caused by misuse are significant restraints limiting the growth of the global market. Unless skin care agencies address these issues, the growth of the global market would be hampered even during the projection period.

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