Skincare Devices Market Forecasts to 2030 - Global Analysis By Product, Type, Distribution Channel, Application, End User and By Geography

According to Stratistics MRC, the Global Skincare Devices Market is accounted for $16.0 billion in 2023 and is expected to reach $40.7 billion by 2030 growing at a CAGR of 6.2% during the forecast period. Skincare devices are innovative tools designed to enhance and optimize skincare routines, promoting healthier and more radiant skin. Applications such as Anti-aging devices, such as microcurrent devices and LED therapy tools, use electrical currents and light wavelengths to stimulate collagen production, reduce fine lines, and improve skin elasticity. These tools offer non-invasive alternatives to traditional dermatological procedures, allowing users to achieve professional-level results in the comfort of their homes to achieve and maintain healthier skin.

According to the American Cancer Society, melanoma skin cancer accounts for only 1% of total skin cancer cases, however, it is responsible for the highest number of cancer deaths.

Market Dynamics:

Driver:

Increasing awareness and beauty consciousness

The awareness and consciousness of skincare are becoming more informed through social media, beauty blogs, and online content, with a focus on creating user-friendly, customizable, and results-driven skincare devices. Consumers, influenced by beauty influencers and celebrities, are more willing to invest in devices that offer convenience, efficacy, and a holistic approach to skincare. In addition, the beauty-conscious consumer base actively seeks effective solutions to address skincare concerns and enhance their overall appearance, which is driving this market size.

Restraint:

High cost

Advanced skincare devices often incorporate cutting-edge technology and innovative features, which contribute to their higher price tags. The high cost of advanced skincare devices creates a barrier to entry for a significant portion of the consumer base, making it difficult to afford these devices, particularly when they have limited financial resources. Moreover, the high cost may also deter healthcare professionals, such as dermatologists or aestheticians, from investing in these devices for their practices, which is hindering market growth.

Opportunity:

E-commerce growth

The online retail environment allows for easy product discovery, reviews, and comparisons, enabling consumers to make informed decisions about skincare device purchases. These platforms provide a convenient and accessible avenue for consumers to explore, compare, and purchase a wide range of skincare devices from the comfort of their homes. Moreover, the e-commerce channel facilitates direct-to-consumer sales, enabling skincare device brands to establish a closer connection with their customers, thereby boosting market growth.

Threat:

Adverse effects

Skincare devices can cause skin irritation or allergic reactions, particularly in individuals with sensitive skin. The use of certain devices, such as microdermabrasion or chemical peels, can lead to redness, dryness, or even temporary discoloration of the skin. Consumers may worry about the long-term impact of using certain technologies if the scientific basis or safety profile of a particular device is unclear. Further, the effectiveness of skincare devices can vary depending on individual skin types and conditions, such as age, skin sensitivity, and underlying skin conditions, which thereby hampers market expansion.

Covid-19 Impact

The skincare devices market experienced several challenges due to the negative impact of the COVID-19 pandemic. Lockdowns, restrictions on movement, and economic uncertainties led to a decline in consumer spending on non-essential items, affecting the sales of skincare devices. Moreover, with social distancing measures in place, the demand for in-person skincare treatments and consultations diminished, affecting the sale of professional-grade skincare devices, which is impeding this market expansion.

The anti-ageing devices segment is expected to be the largest during the forecast period

The anti-ageing devices segment is estimated to hold the largest share, due to the signs of aging and promote youthful skin. Anti-aging devices include radiofrequency devices for skin tightening, laser therapy tools for collagen stimulation, and microcurrent devices for toning facial muscles. Additionally, consumers are seeking non-surgical alternatives for maintaining youthful skin, contributing to the popularity of at-home anti-aging devices. The convenience and cost-effectiveness of these devices compared to professional treatments have further fueled this segment demand.

The mono brand stores segment is expected to have the highest CAGR during the forecast period

The mono brand stores segment is anticipated to have highest CAGR during the forecast period. These stores provide a unique shopping experience, offering a comprehensive selection of a specific brand's skincare devices along with expert guidance and demonstrations. The mono-brand store strategy allows skincare device manufacturers to strengthen their brand identity, establish a direct connection with consumers, and create a controlled environment for product presentation. Furthermore, these stores often feature immersive displays, knowledgeable staff, and interactive elements to enhance customer engagement and education about the brand's technologies, which is boosting this segment's growth.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period owing to a diverse range of electronic and mechanical devices designed to enhance skincare routines, catering to the beauty-conscious population across countries. This region is home to some of the major key players, such as L'Oreal S.A., Philips Beauty, Unilever, and Clarisonic, which contribute to the prominent beauty and tech companies, coupled with evolving consumer preferences and positions. Therefore, ongoing technological advancements, coupled with a culturally ingrained focus on skincare, significantly propel the region's size.

Region with highest CAGR:

Europe is expected to witness highest CAGR over the projection period, owing to the increasing adoption of advanced skincare technologies. Countries such as the UK, Italy, Germany, and France encompass a diverse range of products, including facial cleansing devices, anti-aging tools, and specialized devices for various skincare concerns. Furthermore, technological advancements, including the integration of smart features and connectivity in skincare devices, continue to shape the industry landscape, and a discerning consumer base contributes to the region's expansion.

Key players in the market

Some of the key players in the Skincare Devices Market include Alma Lasers, Fotona, Image Derm, Inc., Ambicare Health, Aesthetic Group., 3Gen, Canfield Scientific Inc., Cutera, Solta Medical, Inc., Cynosure, Inc., Syneron Medical Ltd., Panasonic Corporation, Shenzhen Mareal Technology Co. Ltd., L'Oreal SA, Nu Skin Enterprises, PhotoMedex Inc., Carol Cole Company, Inc., Lumenis and TRIA Beauty inc.

Key Developments:

In December 2023, L'Oreal announced that it has completed the acquisition of Lactobio, which opens up new scientific opportunities, including leveraging Lactobio's microbiome expertise and significant IP portfolio to develop safe and effective new cosmetic solutions using live bacteria.

In September 2023, L'Oreal announces an agreement to make a minority investment in Shinehigh Innovation, an innovation-led biotech company in China, to establish a long-term partnership for the co-development of novel and sustainable beauty solutions.

In December 2023, RW Pressprich & Co. announced that it acted as the exclusive financial advisor to 3GEN/Dermlite on its acquisition by a USA and Canada based healthcare Private Equity firm.

Products Covered:

• Diagnostic Devices
• Treatment Devices
• Anti-Ageing Devices
• Cleansing Devices
• Skin Texture & Tone Enhancement Devices
• Other Products

Types Covered:

• Women Skin Care Devices
• Unisex Skin Care Devices
• Men Skin Care Devices
• Other Types

Distribution Channels Covered:

• Departmental Stores
• Direct Sales
• Modern Trade
• Mono Brand Stores
• Online Retailers
• Specialty Stores
• Other Distribution Channels

Applications Covered:

• Disease Diagnosis
• Skin Treatment
• Other Applications

End Users Covered:

• Hospitals
• Clinics
• Beauty Salon & Spa
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances