May 18, 2024

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Sales of Skincare Devices to Surpass USS 43.48 Bn as Prevalence of Dermatological Diseases Increases, Fact.MR Report

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NEW YORK, March 22, 2022 /PRNewswire/ — The overall sales in the global skincare devices market were valued to be around US$ 12 Bn in 2021. Demand for skin care devices is forecast to surpass US$ 14 Bn in 2022, exhibiting growth at 12% CAGR between 2022 and 2032. According to Fact.MR, the market is estimated to expand by 3.1x, reaching US$ 43.48 Bn by the end of 2032.

Growing prevalence of skin care allergies and diseases such as stretch marks is improving the adoption of skincare devices. Use of skincare diagnostics and treatment devices to reduce stretch marks and for hair removal is projected to bolster the sales of skincare devices.

With the advent of smart skin treatment solutions, the digital tools are becoming an integral part of beauty and personal care industry. This is likely to fuel the demand for skincare devices over the forecast period.

Subsequently, rising penetration of social media platforms and influencers is increasing the awareness regarding benefits of skincare devices. On account of this, key players in the market are introducing advanced skin care diagnostic devices, thereby, boosting the market.

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Further, growing desire to improve the aesthetic appeal in several countries such as China, the U.S. Brazil, and the U.K is projected to bolster the growth in the market.

Also, ongoing technological advancements such as integration of artificial intelligence (AI) and machine learning in skincare devices are expected to augment the demand in the market. Rising interests in personal grooming due to the improved standard of living, especially in emerging economies, is surging the adoption of skincare devices.

Fact.MR opines, prevalence of dermatological diseases such as eczema, psoriasis, and others is increasing the demand for skincare devices in hospitals. This is expected to create prolific opportunities for the market.

Report Attributes

Details

Base Year Value (2021A)

US$ 12 Bn

Estimated Year Value (2022E)

US$ 14 Bn

Projected Year Value (2032F)

US$ 43.48 Bn

Global Growth Rate (2022-2032)

CAGR 12%

Key Takeaways:

  • In terms of end use, the hospital segment is anticipated to lead the market, accounting for 47% of the market share in 2022.
  • Asia Pacific is estimated to witness a staggering growth at 9.9% CAGR during the forecast period.
  • Based on product type, the treatment devices segment is anticipated to hold significant share, with lasers segment spearheading the growth through 2032
  • Based on application, the hair removal segment is projected to dominate the market.
  • North America is likely to dominate the market, with a revenue share of 42% in 2022.

Growth Drivers:

  • Rising incidence of skin cancer and other skin diseases such as acne, rosacea, and eczema is likely to stoke the sales of skincare devices.
  • Ongoing trend of medical tourism in emerging economies is likely to create conducive environment for the market.

Restraints:

  • High cost of the devices is projected to limit the sales of skincare devices despite its success of treatment.
  • Skin care device related scarring, skin infections, heat injury, and skin eruptions might restrain the growth in the market.

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Competitive Landscape:

Key players are focusing on advancing the skincare devices by adopting various tactics such as mergers, acquisitions, and definitive partnerships to expand their consumer base. They are also investing in research and development (R&D) activities to launch advanced products and strengthen their position in the market.

For instance,

  • November 2021: Lancer Skincare partnered with ByondXR to develop “The Virtual Lancer Dermatology Shop.” With the support of a digital platform, the novel virtual store can provide in-home assistances of Lancer dermatology.
  • August 2020: Shiseido entered into joint venture with Ya-Man Ltd. They named the new organization as Effectim Co and it started operating in October 2020.

Key Companies Profiled by Fact.MR

  • Canfield Scientific Inc.
  • Alma Lasers
  • Solta Medical Inc.
  • Cutera
  • Syneron
  • Cynosure Inc.
  • 3Gen
  • Image Derm Inc.
  • Aesthetic Group
  • Ambicare Health

More Valuable Insights on Skincare Devices Market

Fact.MR, in its latest study, offers a detailed market analysis on the global skincare devices market covering unbiased analysis for the forecast period of 2022 to 2032. This report also provides insights into the critical trends promoting the growth of the skincare devices market through detailed segmentation as follows:

By Product:

    • Dermatoscopes
    • Microscopes
    • Biopsy Devices
    • Other Imaging Devices
    • Light Therapy Devices
    • Lasers
    • Electrosurgical Equipment
    • Liposuction Devices
    • Microdermabrasion Devices
    • Cryotherapy Devices

By Application:

    • Skin Cancer Diagnosis
    • Other Skincare Diagnostic Devices
  • Skincare Treatment Devices
    • Hair Removal
    • Skin Rejuvenation
    • Acne, Psoriasis & Tattoo Removal
    • Wrinkle Removal and Skin Resurfacing
    • Body Contouring and Fat Removal
    • Cellulite Reduction
    • Vascular and Pigmented Lesion Removal
    • Other Skincare Treatment Devices

By End Use:

  • Hospitals
  • Clinics
  • Other End Uses

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

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Key Questions Covered in the Skincare Devices Market

  • Which are key trends bolstering the growth in skincare devices market?
  • At what rate will the global skincare devices market grow during 2022-2032?
  • Which region is expected to account for maximum share in the global skincare devices market?
  • What is the expected revenue share of skincare devices market in 2022?
  • Which are the factors hampering the sales in the global skincare devices market?
  • What is the anticipated market valuation of skincare devices market until 2032?

Explore Fact.MR’s Coverage on the Healthcare Domain

Dermatology Devices Market Trends: Global dermatology devices market is estimated to expand at a robust pace on the back of rising skin disorders and skin cancers worldwide. Furthermore, ongoing trend of hair removal and stretch mark reduction treatments is anticipated to boost the market.

Skin Cooling Systems Market Forecast: Growing need for reducing pain caused after laser treatments or cosmetic surgeries is likely to create remunerative opportunities for the market. Also, technological advancements in skin cooling system are estimated to help replace traditional cooling methods such as cooling creams, ice packs, painkillers, and others. This is likely to bolster the demand in the next few years.

Ultrasound Skin Cleaners Market Growth: Surging demand for skin care products, blood circulation, toning, reducing puffiness, cellular repair, and lymphatic drainage will drive the sales of ultrasound skin cleaners. Besides this, rising awareness regarding personal grooming is projected to boost the demand in the market.

About Fact.MR

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SOURCE Fact.MR

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