Skincare Devices Industry Overview
The global Skincare Devices Market size is expected to reach USD 34.3 billion By 2030, registering a CAGR of 11.9%, according to a new report by Grand View Research, Inc., An increasing number of skin-related disorders such as cancer and assorted disorders are likely to increase the adoption rate of these devices.
Rising use of home-care products and growing medical spa treatments are some of the key trends stimulating market growth. Some of the key factors that are driving growth are technological advancements, growing appearance consciousness, and rising disposable income.
Growing awareness regarding the benefits of skin rejuvenation amongst patients, rising demand for aesthetics, and increasing incidence of skin disorders are among the primary growth stimulants. Syneron Medical, a U.S.-based company, is one of the biggest players in the skin rejuvenation market. Its product is known as VelaSmooth which has been approved by the U.S. FDA.
The market is projected to witness significant growth over the forecast period, owing to the rising prevalence of skin diseases. Technological advancements, extremely effective devices, and increasing acceptance of these devices as they are non-invasive, are some of the factors escalating the growth of the market.
Furthermore, surging demand for processes such as liposuction, body contouring, skin rejuvenation, and tightening is anticipated to accelerate the growth of the market. However, equipment cost and competitive pricing are limiting the market from realizing its utmost potential.
Skincare Devices Market Segmentation
Grand View Research has segmented the skincare devices market on the basis of product, application, end-use, and region:
Based on the Product Insights, the market is segmented into Diagnostic Devices and Treatment Devices.
- The treatment devices segment held the largest revenue share of about 79.0% in 2021 and is also expected to witness the highest CAGR over the forecast period. This is mainly due to the availability of wide applications of dermatology treatment.
- The laser segment held the largest revenue share in 2021 and is also expected to show the highest growth over the forecast period owing to its wide adoption. On the other hand, the dermatoscopes segment dominated the diagnostic devices segment in 2021 due to the availability of advanced technologies.
Based on the Application Insights, the market is segmented into Diagnostic Devices and Treatment Devices.
- The hair removal application segment dominated the market for skincare devices and held the largest revenue share of about 16.0% in 2021. Hair removal devicesparticularly laser devices have been proved to be safer for all skin tones and hair color and facilitate less painful treatment procedures, thereby propelling the market.
- A rise in demand for cosmetic laser treatments like tattoo removal, skin resurfacing and skin tightening has significantly increased the adoption of dermatology devices.
Based on the End-Use Insights, the market is segmented into Hospitals, Clinics and Others.
- The hospital segment dominated the market and held the largest revenue share of about 48.0% in 2021 owing to the presence of advanced skincare equipment in hospital settings.
- The clinics segment is anticipated to witness the highest CAGR over the forecast period owing to rising demand for various skincare-related services. Dermatology clinics are cosmetic and medical facilities that focus on the diagnosis and treatment of skin conditions.
Skincare Devices Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile
The key companies are concentrating on strategic initiatives such as mergers and acquisitions, new product development, and geographical expansions.
Some prominent players in the global Skincare Devices market include
- Alma Lasers GmbH
- Cynosure, Inc.
- Solta Medical, Inc.
- Cutera, Inc.
- Syneron Medical Ltd.
- Canfield Scientific, Inc.
- 3Gen
- Aesthetic Group
- Ambicare Health
- Image Derm, Inc.
- Fotona
Order a free sample PDF of the Skincare Devices Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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