PUBLISHER: Allied Market Research | PRODUCT CODE: 1414883
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414883
According to a new report published by Allied Market Research, titled, "Skincare Devices Market," The skincare devices market was valued at $14.3 billion in 2022, and is estimated to reach $38.8 billion by 2032, growing at a CAGR of 10.5% from 2023 to 2032.
The skincare devices market growth is driven by increase in beauty consciousness, rise in number of non-surgical aesthetic procedures such as ablative and non-ablative laser resurfacing treatment, and surg in adoption of facial aesthetic procedure. Furthermore, increase in awareness about skin health further boosts the market growth. For instance, according to a report by the American Society of Plastic Surgeons (ASPS), in 2020, it was reported that around 16 million cosmetic procedures were conducted, globally. Thus, increase in awareness about skin health creates opportunities for the development of new skincare devices which, in turn, drives market growth.
Further, rise in awareness and emphasis on personal grooming drive the demand for skincare devices. For instance, according to a report by the American society of plastic surgeons (ASPS), in 2020, it was also reported that consumers spent approximately $20 billion on facial aesthetics procedures globally for total consumers. In addition, rise in prevalence of skin conditions such as acne and psoriasis foster the demand for skincare devices and boost the market growth. Skincare devices, such as light therapy devices, use specific light-wavelengths to target acne and reduce inflammation. Thus, the rise in prevalence of acne drives the demand for light therapy devices.
However, high cost of skincare devices limits widespread adoption of these devices and negatively impacts the market growth. For instance, innovative devices incorporating cutting-edge technologies such as LED Light Face Mask ranges from $750 to $1,000. On the other hand, technological advancements in the treatment devices, such as development of pen-sized skin toning devices and customized hair removal devices further boost the market growth. Thus, technological advancements in skincare devices are expected to create lucrative opportunities for market growth during the forecast period.
The skincare devices market is segmented on the basis of product type, application, end user, and region. On the basis of product type, the market is bifurcated into diagnostic devices and treatment devices. The diagnostic devices segment is further classified into dermatoscopes, imaging devics, and biopsy devices. The treatment devices segment is further divided into light therapy devices, lasers, electrosurgical equipment, liposuction devices, microdermabrasion devices, and others. On the basis of application, the market is categorized into disease diagnosis and skin treatment. The skin treatment segment further divided into hair removal, skin rejuvenation and resurfacing, acne, scar, and tattoo removal, body contouring and skin tightening, and others. On the basis of end user, the market is segregated into dermatology clinics, salons and spas, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). Major key players that operate in the global skincare devices market are Cutera, Lumenis Ltd., Cynosure Inc., Lutronic, Bausch Health Companies, Inc., Fotona, Sciton, Sisram Medical Ltd., Michelson Diagnostics Ltd, and Candela Corporation.
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