Dermatology clinics are increasingly using skincare devices to diagnose and treat various skin disorders. They can be used to remove unwanted fat from the face, tighten the skin, and improve its overall appearance.
Statistics:
The global Skincare Devices market is estimated to be valued at $ 11,752.2 Mn in 2021 and is expected to exhibit a CAGR of 10.2% over the forecast period (2022-2028).
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Market Drivers:
According to a 2018 survey by Global Data, around three quarters of South Korean men undertake a beauty or grooming treatment at least once a week. Growing focus on aesthetic appeal is projected to augment growth of the global skincare devices market over the forecast period.
Market Opportunities:
Increasing R&D activities for developing minimally invasive device for wound treatment is expected to serve major growth opportunities for players in the global skincare devices market. For instance, in December 2019, Misonix, Inc., a manufacturer of minimally invasive ultrasonic medical devices used for precise bone sculpting, removal of soft and hard tumors and tissue debridement, announced publication of two new large real-world studies proving the clinical effectiveness of its all human split thickness skin allograft TheraSkin for the treatment of complex wounds.
Market Restraints:
Side effects and limitations of cryotherapy are expected to restrict growth of the market. Individuals with hypertension, heart disease, seizures, anemia, pregnancy, and claustrophobia are not advised to use cryotherapy. Redness or skin irritation, an allergic reaction to the cold, frostbite, or skin burns are some of the side effects of the procedure.
Key Takeaways:
The global skincare devices market was valued at US$ 11,752.2 Mn in 2021 and is forecast to reach a value of US$ 25,533.7 Mn by 2028 at a CAGR of 10.2% between 2022 and 2028. Increasing focus on aesthetic appeal is expected to propel growth of the global skincare devices market over the forecast period
Cellulite (fat) Reduction segment held dominant position in the global skincare devices market in 2019, accounting for 24.7% share in terms of value, followed by hair removal and skin tightening & Body Contouring, respectively. Increasing demand for minimally invasive procedures is expected to assist the market growth.
Market Trends
Key players in the market are focused on approval and launch of new technologies to expand their product portfolio. For instance, in October 2019, InMode Ltd. received Health Canada Certification for AccuTite, a minimally invasive technology that delivers RF heating.
Key players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in December 2018, Alma Lasers acquired Medical Nova, an aesthetic distributors of technology-based devices in Israel
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Competitive Landscape
Key players operating in the global skincare devices market include, Alma Lasers, Ltd., InMode Ltd., Cutera, Inc., Cynosure, Inc., Lumenis, Ltd., Hologic, Inc., Michelson Diagnostics Ltd., PhotoMedex, Inc., Solta Medical International Inc., and Syneron Medical Ltd.
In January 2020, Lumenis Ltd. launched LightSheer Quattro, a laser hair removal platform
In June 2018, Syneron Medical Ltd. received the U.S. FDA clearance for its Vbeam Prima system with an advanced 595nm pulsed dye laser and 1064nm wavelength
In December 2021, Obagi, a science-based skincare company and a leader in professional skincare products for over 30 years, announced today the official launch of the Skintrinsiq™ device, its first entry into the complementary skincare device market.
Key Reasons to Buy this Report:
• Use of current statistics gathered by our own researchers. These provide you historical and projected data that is evaluated to inform you why the Skincare Devices Market is changing – this allows you to anticipate market changes and stay ahead of your competition.
• You’ll be able to quickly pinpoint the information you need thanks to the concise analysis, clear graph, and table style.
• Denotes the area and market segment that is likely to expand the fastest and dominate the market.
• A geographical analysis showing the consumption of the product/service in each region as well as the variables impacting the market within each region
• Comprehensive company profiles for the major market players, including company overviews, company insights, product benchmarking, and SWOT analysis for the major market players, as well as new service/product launches, partnerships, business expansions, and acquisitions in the last five years of companies profiled.
• The industry’s present and future market outlook, including recent changes such as growth possibilities and drivers, as well as challenges and restraints in both emerging and developed markets.
• Porter’s five forces analysis is used to provide an in-depth examination of the market from numerous angles.
• Provides industry understanding via Value Chain – Market Dynamics scenario, as well as market development potential in the next years
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Table Of Content:
1. Research Objectives and Assumptions
▪ Research Objectives
▪ Assumptions
▪ Abbreviations
2. Market Purview
▪ Report Description
– Market Definition and Scope
▪ Executive Summary
– Market Snippet, By Type
– Market Snippet, By Application
– Market Snippet, By Region
▪ Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
▪ Market Dynamics
– Drivers
– Restraints
– Market Opportunities
Continue…
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