The skincare treatment devices market is projected to reach US$ 23,378.96 million by 2028 from US$ 10,898.26 million in 2021; it is expected to grow at a CAGR of 11.5% during 2021-2028.
Increasing prevalence of skin disorders and rising awareness about beauty devices, along with increasing new product launches and rising developments and strategic collaborations, fuel the market's growth.The rising prevalence of various disorders such as dermatitis, acne, psoriasis, and other skin anomalies such as warts, moles, and lesions are creating the demand for skincare treatment devices. According to the American Academy of Dermatology Association, acne is the most common skin condition in the US and affects ~50 million Americans annually. Thus, a surge in such acne conditions is creating the need for skincare treatment devices. Additionally, changing beauty standards and the beauty industry are creating the demand for skincare treatment devices, thereby driving the skincare treatment devices market. Moreover, rising geriatric population prone to wrinkles and aging is boosting the demand for antiaging, toning, and skin rejuvenation treatment to hide the signs of aging. As per The Aesthetic Society, 41,301 skin rejuvenation procedures were performed in the US, generating a revenue of US$ 31,567,167 in 2020.
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Skincare Treatment Devices Market: Strategic Insights
Market Size Value in US$ 10,898.26 Million in 2021 Market Size Value by US$ 23,378.96 Million by 2028 Growth rate CAGR of 11.5% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Skincare Treatment Devices Market: Strategic Insights
| Market Size Value in | US$ 10,898.26 Million in 2021 |
| Market Size Value by | US$ 23,378.96 Million by 2028 |
| Growth rate | CAGR of 11.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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On the other hand, the rise in consumer awareness about skincare treatments is increasing medspas and skin clinics to provide affordable skin treatments for various skin conditions, thereby boosting the demand for skincare treatment devices. Furthermore, the increase in technological advancements and surge in R&D activities are leading to the launch of new and innovative devices for skincare treatments, thereby propelling the overall skincare treatment devices market share. In addition, there has been an increase in demand and inclination toward home-based skincare devices, which are portable. These devices are based on microcurrent and ultrasonic technic technology. For instance, in July 2021, NuFACE innovative at-home microcurrent technology announced its latest skincare innovation with IonPlex Ionized Skincare Activators—a unique blend of electrically charged ions and glacial water that deliver a surge of active ingredients for optimal microcurrent results and healthy, younger-looking skin. This has also resulted in the growth of the skincare treatment devices market.
Furthermore, increasing awareness about appearance, rising consumer awareness about skincare devices, and increasing demand for aesthetics are generating the demand for skincare treatment devices. The rising demand for laser treatments, body contouring, skin tightening is promoting the market growth.
North America held the largest market share for the skincare treatment devices market in 2021. The US held the largest market in North America for skincare treatment devices. The market is expected to grow due to the high prevalence rate of skin disorders & abnormalities, along with the rising demand for beauty and aesthetics. Moreover, an increase in product launches in the region by local manufacturers is also expected to promote market growth.
Lucrative Regions for Skincare Treatment Devices Market
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Market Insights
Increasing Demand for Cosmetic Procedures and Untapped Opportunities from Developing Economies
There has been tremendous change in the beauty industry and standards among men and women globally. The increasing awareness among consumers and to comply with such beauty standards, the large population is opting for cosmetic procedures. Apart from the rising demand for aesthetics, the increased demand for various procedures such as warts or lesion removal, spot reduction, tattoo removal, and scar reduction are also in demand, creating opportunities for skincare treatment devices.
On the other hand, Asia Pacific is expected to develop significantly due to developing economies such as China and India. The developing economies have a large population base, increased disposable income, and consumer awareness and consciousness about beauty treatments and aesthetics. According to the International Society of Aesthetic Plastic Surgery, 268,536 nonsurgical cosmetic procedures were performed in India in 2020. Additionally, the rising demand for minimally invasive or nonsurgical skincare treatments is expected to create ample opportunities for the skincare treatment devices market in the coming years.
Product-Based Insights
Based on product, the skincare treatment devices market is segmented into light/LED therapy and photo rejuvenation device, liposuction devices, microdermabrasion devices, laser-based devices, and cryotherapy devices. The laser-based devices segment held the largest market share in 2021 and is anticipated to grow significantly and register the highest CAGR in the market during the forecast period due to the increasing number of cosmetic surgeries and the usage of medical lasers in these surgeries.
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Application-Based Insights
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Based on application, the skincare treatment devices market is segmented into cellulite reduction, hair removal, skin rejuvenation, skin tightening and body contouring, and others. The hair removal segment held the largest share of the market in 2021. In addition, the skin tightening and body contouring segment is estimated to register the highest CAGR in the market during the forecast period.
Distribution Channel-Based Insights
The skincare treatment devices market, based on distribution channel, is segmented into online retails, specialty stores, supermarkets/hypermarkets, and other sales channels. The specialty stores segment held the largest share of the market in 2021. In addition, the online retails segment is estimated to register the highest CAGR in the market during the forecast period.
End User-Based Insights
The skincare treatment devices market, based on end user, is segmented into dermatology clinics, hospitals, spas and beauty salons, and other end users. The dermatology clinics segment held the largest share of the market in 2021, whereas the hospitals segment is estimated to register the highest CAGR in the market during the forecast period.
Companies operating in the skincare treatment devices market adopt the product innovation strategy to meet the evolving customer demands worldwide, permitting them to maintain their brand name in the global skincare treatment devices market.
Company Profiles
- Allergan
- Cutera
- Merz Pharma
- Hologic, Inc.
- Candela Corporation
- Panasonic Corporation
- Michelson Diagnostics Ltd.
- Bausch Health Companies, Inc.
- Lumenis BE Ltd.
- Photomedex Inc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, Distribution Channel, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Skincare treatment devices are used for the treatment of various skin disorders and abnormalities such as warts, acne, eczema, psoriasis and dermatitis. These devices also help to hide the signs of aging by providing various skin rejuvenation, skin tightening and other procedures which helps in maintain the healthy, glowing skin.
Increasing prevalence of skin disorders and rising awareness about beauty devices is one of the most significant factors responsible for the overall market growth.
Based on product, laser-based devices took the forefront leaders in the worldwide market by accounting largest share in 2020 and is expected to continue to do so till the forecast period.
The hair removal segment dominated the global skincare treatment devices market and accounted for the largest revenue of 21.62 Bn in 2021.
Allergan, Cutera, Merz Pharma, Hologic, Inc., Candela Corporation, Panasonic Corporation, Michelson Diagnostics Ltd., Bausch Health Companies, Inc., Lumenis BE Ltd., and Photomedex Inc. are among the leading companies operating in the global skincare treatment devices market
Global skincare treatment devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for skincare treatment devices market. The US is estimated to hold the largest share in the skincare treatment devices market during the forecast period. The presence of top players and favorable regulations related to product approvals coupled with commercialization of new products are the contributing factors for the regional growth. Additionally, the increasing number of technological advancements is the key factor responsible for the Asia-Pacific regional growth for skincare treatment devices accounting fastest growth of the region during the coming years.
The List of Companies - Skincare Devices Market
- Allergan
- Cutera
- Merz Pharma
- Hologic, Inc.
- Candela Corporation
- Panasonic Corporation
- Michelson Diagnostics Ltd.
- Bausch Health Companies, Inc.
- Lumenis BE Ltd.
- Photomedex Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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