Skincare Devices Market – Exclusive Report Study on the Current Trends 2021-2028

Skincare Devices Market Outlook  

•          It is estimated to expand at a CAGR of 9.9% from 2021 to 2028
•          The global skincare devices market is expected to reach the value of US$ 23.9 Bn by the end of 2028

U.S. Holds Promising Revenue Opportunities for Skincare Device Manufacturers

The increase in incidence of skin disorders such as acne, atopic dermatitis, psoriasis, rosacea, and skin cancer is projected to drive the global skincare devices market during the forecast period. According to the American Academy of Dermatology Association, acne affects around 50 million people in the U.S. each year. Around 85% of people between the ages of 12 and 24 experience at least minor acne. Nearly 7.5 million people in the U.S. have psoriasis. Rosacea is a common skin disease that affects an estimated 16 million people in the U.S. Over 9,500 people in the U.S. are diagnosed with skin cancer every day.

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The rise in preference for minimally and non-invasive procedures is another major factor driving the U.S. skincare devices market. According to the American Society of Plastic Surgeons, in 2020, around 15.6 million cosmetic procedures were performed in the U.S., including 2.3 million cosmetic surgical procedures and 13.2 million cosmetic minimally invasive procedures.

Digital Sales Platforms Gain Popularity for Skincare Devices During Coronavirus Pandemic

Brands in the skincare devices market are catering to on-demand products and services for customers during the ongoing coronavirus crisis. Heavy offers and discounts on products are grabbing the attention through marketing and advertising on digital sales platforms. Since the pandemic has encouraged an increasing number of people to join the Internet, social media is emerging as a promising sales platform to increase awareness about the benefits of skincare devices and promote its uptake. As such, skincare device brands are addressing the volatile demand and supply of products with data-driven research before investing in new technologies and regions. Companies are establishing a balanced relationship with suppliers and ecosystem partners to emerge resilient to the ongoing pandemic.

High Prevalence of Skin Disorders Fueling Demand for Therapeutic Devices

The cellulite reduction segment has led the global skincare devices market in terms of revenue in 2020, and the trend is projected to continue during the forecast period. Rise in obesity rates across the world, increase in popularity of non-invasive procedures for fat removal over conventional methods, and large consumer population willing to spend their disposable incomes on these measures are likely to drive the segment during the forecast period.

The disease diagnosis & treatment segment held the second-largest revenue share of the market in 2020. Skincare devices are used in the diagnosis and treatment of various skin disorders and indications, including skin cancer (melanoma & non-melanoma), scabies, warts, fungal infections, psoriasis, and pubic louse. The increase in incidence of these disorders is likely to drive the segment.

North America & Asia Pacific Grabbing Attention of Skincare Device Manufacturers

North America dominated the global skincare devices market in 2020 with approximately 40% share. Presence of large high-income consumer base and introduction of latest technologies for various medical procedures are likely to drive the market in the region. Moreover, surge in geriatric population, increase in incidence of skin disorders, and high adoption of advanced products and techniques are expected to fuel the growth of the North America skincare devices market.

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Asia Pacific is a rapidly expanding market for skincare devices. The Asia Pacific skincare devices market is likely to grow at a high CAGR throughout the forecast period due to rise in demand for skincare devices.

LED Therapy Devices Grow Popular for Treatment of Acne and Wrinkles

The popularity of cosmetic procedures, such as liposuction, skin tightening, body contouring, and skin rejuvenation that enhance the overall appearance of the client and make them look more youthful & fit, is rising. Procedures such as tattoo removal, scar reduction, and spot reduction have witnessed an increase in demand for skincare devices.

The LED (Light Emitting Diode) therapy sector is projected to account for a major share of the treatment devices segment during the forecast period. LED therapy in dermatology, also known as photon rejuvenation therapy, is used to treat acne, reduce fine wrinkles & scars, as well as for skin rejuvenation.

Skincare Devices Market: Overview

•          Dermatology is the science of diagnosis and treatment of skin abnormalities & disorders. In addition to disease diagnosis and treatment, skincare devices are used in various aesthetic applications for cosmetic care and enhancement of appearance of the skin and body.
•          Popularity of cosmetic procedures, such as liposuction, skin tightening, body contouring, and skin rejuvenation that enhance the overall appearance of the client and make them look more youthful and fit, is rising. Procedures such as tattoo removal, scar reduction, and spot reduction have witnessed increase in demand for skincare devices.

Skincare Devices Market: Key Drivers

•          Increase in incidence of skin disorders such as acne, atopic dermatitis, psoriasis, rosacea, and skin cancer are projected to drive the global market during the forecast period. According to the American Academy of Dermatology Association, acne affects around 50 million people in the U.S. each year. Around 85% of people between the ages of 12 and 24 experience at least minor acne. Nearly 7.5 million people in the U.S. have psoriasis. Rosacea is a common skin disease that affects 16 million people in the U.S. Over 9,500 people in the U.S. are diagnosed with skin cancer every day.

•          Rise in preference for minimally and non-invasive procedures is another major factor driving the global skincare devices market. According to the American Society of Plastic Surgeons, in 2020, around 15.6 million cosmetic procedures were performed in the U.S., including 2.3 million cosmetic surgical procedures and 13.2 million cosmetic minimally invasive procedures.

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Market Segmentation: Skincare Devices Market

•          In terms of type, the global skincare devices market has been bifurcated into diagnostic devices and treatment devices. The diagnostic devices segment has been split into biopsy devices, image guidance systems, and dermatoscopes. The treatment devices segment has been segregated into LED therapy, lasabrasion, liposuction, microdermabrasion, electrosurgical, and cryotherapy.

•          Based on application, the global market has been classified into cellulite reduction, disease diagnosis & treatment, hair removal, skin tightening & body contouring, skin rejuvenation, and damage repair.

•          Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The skincare devices market report provides current and expected revenue (US$ Mn) for each of the segments from 2021 to 2028, considering 2020 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2021 to 2028 along with market size estimations.

Regional Overview: Skincare Devices Market

•          North America dominated the global skincare devices market in 2020, accounting for 40% share. The U.S. dominated the market in North America owing to factors such as increase in incidence of skin disorders, surge in geriatric population, rise in demand for better health care facilities, and increase in adoption of improved products & technologies.

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•          Asia Pacific is anticipated to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are expected to propel the skincare devices market in the region.

Major Players

•          The skincare devices market report concludes with the company profiles section, which includes key information about major players in the global skincare devices market
•          Leading players analyzed in the report include

o    Alma Lasers, Inc.

o    Cutera, Inc.

o    Cynosure, Inc.

o    GE Healthcare

o    Human med AG

o    Lumenis, Ltd.

o    Michelson Diagnostics

o    Photomedex, Inc.

o    Solta Medical, Inc.

o    Syneron Medical Ltd.