Dermatology is the study of skin abnormalities and disorders, as well as their diagnosis and treatment. Eczema, psoriasis, acne, rosacea, ichthyosis, vitiligo, hives, seborrheic dermatitis, and other skin conditions are treated with skincare devices.
Rising cases of skin disorders is expected to boost growth of the global skincare devices market over the forecast period. The annual incidence rate of psoriasis in 2017 was 280 per 100,000 person-years, according to the Global Polaris Atlas Annual Report 2018-2019, with the disease’s prevalence on the rise (from 2.5 percent in 2011 to 3.9 percent in 2017).
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Furthermore, rising geriatric population is also expected to boost in growth of the market. For instance, the world’s geriatric population is projected to hit 2 billion by 2050, up from 900 million in 2015.
The market’s growth is projected to be hampered by the high cost of procedures. The estimated cost of ablative laser skin resurfacing, for instance, ranges from US$ 2,000 to US$ 25,000, according to the American Society of Plastic Surgeons (ASPS).
Furthermore, lack of insurance for LED light therapy is also expected to hamper growth of the market.
Global Skincare Devices Market: Opportunities
Significant growth in medical tourism in emerging economies is expected to offer lucrative growth opportunities for players in the global skincare devices market. The estimated Foreign Tourist Arrivals (FTAs) in India for medical purposes in 2015, 2016, and 2017 were 2,33,918, 4,27,014, and 4,95,056, respectively, according to the India Brand Equity Foundation’s January 2019 release.
Furthermore, market players’ geographic expansion is expected to lead to market growth. InMode Ltd., for example, opened two new subsidiaries in the Asia Pacific area in October 2019: InMode India in Delhi and InMode Australia in Sydney.
The global skincare devices market is estimated to account for US$ 25,533.7 Mn in terms of value by the end of 2027.
The global skincare devices market was valued at US$ 11,752.2 Mn in 2019 and is forecast to reach a value of US$ 25,533.7 Mn by 2027 at a CAGR of 10.2% between 2020 and 2027.
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North America is expected to witness significant growth in global skincare devices market in 2019, accounting for 44.1% share in terms of value.
Furthermore, Europe and Asia Pacific is also expected to witness significant growth in global skincare devices market.
Market Trends/Key Takeaways:
Men’s preferences for nonsurgical cosmetic treatments are rising in the industry. For example, RealSelf, an online forum for learning about aesthetic procedures and engaging with doctors who perform them, reported a 6% increase in men interested in nonsurgical cosmetic treatments in 2019 compared to 2018.
Key players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, InMode Ltd. unveiled Evoke, a non-invasive, RF-based platform for facial remodelling, in January 2020. It’s a hands-free system that uses uniform and regulated heating of the skin and subdermal tissue to resolve patient aesthetic concerns.
Major players operating in the global skincare devices market include, Alma Lasers, Ltd., Inc., Michelson Diagnostics Ltd., PhotoMedex, Inc., InMode Ltd., Cutera, Inc., Cynosure, Inc., Lumenis, Ltd., Hologic Solta Medical International Inc., and Syneron Medical Ltd.
In March 2020, Lumenis Ltd. launched Stellar M22 used for the treatment of vascular lesions, skin texture, tone, and hair removal.
In February 2019, Alma Lasers launched new innovation center in Caesarea industrial park, Israel.
Reasons to Purchase this Report
• To gain an in-depth understanding of Skincare Devices market globally
• To identify the on-going trends and anticipated growth in the next nine years
• To help industry consultants, Skincare Devices market other stakeholders align their market-centric strategies
• To obtain research-based business decisions and add weight to presentations and marketing strategies
• To gain competitive knowledge of leading market players
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Table of Content
Global Skincare Devices Market Research Report
Section 1: Global Skincare Devices Industry Overview
Section 2: Global Economic Impact on Skincare Devices Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Skincare Devices Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Skincare Devices Market Forecast
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