Skincare Devices Market

Global Skincare Devices Market Size (2023 to 2028)

The size of the global skincare devices market is predicted to be worth USD 95.04 billion by 2028 from USD 58.98 billion in 2023, growing at a CAGR of 10.1% from 2023 to 2028.

The skin is the outer layer of a human or animal's body. It is the body's largest organ and has a variety of activities, including shielding us from hazardous substances such as bacteria, allowing us to feel heat, cold, and touch, and regulating our body temperatures. Skincare devices are becoming increasingly popular as the number of skin-related ailments rises. They're also commonly used in aesthetics, a field of philosophy concerned with beauty. The great demand for skincare devices reflects that skincare devices are a top choice for all beauty concerns. Modern technologies and treatment approaches serve as the foundation for skincare devices. Skincare devices are electrically powered devices that are intended to help the skin.

MARKET DRIVERS:

Rising appearance consciousness, expanding awareness of beauty devices, rising prevalence of skin diseases, growing older population, increasing disposable income, and increasing incidence of hormonal disorders are key factors promoting global skincare device market growth. In developed countries, most people suffer from problems such as loose skin, aging marks, and wrinkles. To overcome this problem, they are using devices to regain their skin tightness and moisturization in the skin.

The availability of at-home devices also drives the market forward. Most working employees prefer to use home-based skin care devices due to a lack of time to have regular appointments in the beauty clinic for skin issues. Furthermore, these home-based devices are portable and can be carried to any place with them for easy use. Additionally, people who are shy about having skin care treatment also use home-based devices more. By considering all these factors, key players are manufacturing devices with user-friendly to increase the market growth.

Because of the rising occurrence of skin-related diseases worldwide, the global skincare devices market is predicted to develop in the future. The market for skincare devices is expected to grow faster in developing nations due to rising disposable income and more customer awareness. In addition, increasing consumer knowledge, technological advancements in constructing these highly effective devices, acceptance of non-invasive and minimum treatments, and improved demand for aesthetic procedures are expected to boost the market.

Skin cancer and other skin-related diseases such as dermatitis, acne, psoriasis, and skin anomalies such as warts, lesions, and moles are the primary drivers of this market's global expansion. Furthermore, the development in medical tourism and "Medspas" make the worldwide skincare device industry particularly appealing. Manufacturing more advanced and affordable equipment, such as ultrasonic and exfoliating devices, is one of the industry's primary drivers. Large corporations have recently made significant expenditures in the market for products with strong consumer preferences due to the high demand for anti-aging, toning, and other devices. Anti-aging wearables are consumer skincare products that help them look younger for longer. Wearable skincare technology represents a massive opportunity for the global skincare device market to grow. In addition, rising demand for cosmetic operations, including skin rejuvenation, skin tightening, body contouring, and liposuction, would move the skincare device market forward.

MARKET RESTRAINTS:

A couple of devices have been cautioned again for being used without supervision; this problem with at-home skincare equipment is hampering the market's rapid growth. The two biggest challenges to the market's expansion are the high equipment cost and the adverse effects of these gadgets. In addition, consumers are wary of using skincare devices because of adverse effects such as edema, chemical exposure, allergies, burn, irritation, and skin color change. This is the major impediment to the global growth of the skincare devices market.

COVID-19 Impact on the Global Skincare Devices Market:

The fast spread of COVID-19 has significantly influenced the worldwide healthcare business. COVID-19 has negatively influenced the skincare devices market worldwide, particularly in the first two quarters of 2020. The Impact of global economic conditions and the market directly impacts key players' businesses. As a result, the recession they experienced was caused mainly by the closure of numerous nations of dermatology clinics, spas, and salons. As a result of the widespread financial distress, which discourages people from spending on non-essential products, the number of treatments and demand for skincare devices has decreased.

REPORT COVERAGE:

This research report on the global skincare devices market has been segmented and sub-segmented based on product, application, distribution channel, and region.

Skincare Devices Market - By Product:

 Skincare Diagnostic Devices

• Dermatoscopes
• Image Guidance Systems
• Biopsy Devices

 Skincare Treatment Devices

• Lasabrasion Devices
• LED Therapy Devices
• Liposuction Devices
• Microdermabrasion Devices
• Cryotherapy Devices
• Electrosurgical Devices

Based on the product, the image-guided systems segment is the fastest-growing segment in the global skincare devices market, owing to technological developments and the shrinking of these devices. In addition, image-guided systems have become easier to use as technology has advanced, allowing for more accurate diagnoses of skin conditions.

LED therapy devices are the next segment which helps the market growth. Many researchers show that LED light therapy helps in reducing skin issues and seeing more improvement if they take regular treatment. In addition, home-used devices are also available in LED therapy devices, increasing the supply and demand for the devices.

Skincare Devices Market - By Distribution Channel

• Direct channels
• Indirect channels

Indirect channels sell more skincare devices than direct channels, but with increased internet penetration, industry players are also utilizing the benefits of direct channels. Direct channels allow market players to boost their profit margins even when their items are priced cheaply. Therefore, the direct channel market for skincare devices is expected to rise during this period.

Skincare Devices Market - By Application:

• Disease Diagnosis & Treatment
• Hair Removal

• Skin Rejuvenation
• Cellulite Reduction
• Body Contouring and Skin Tightening

Due to increased demand for no-downtime, non-surgical, and non-invasive procedures, skin tightening and body contouring are expected to develop at a healthy rate. In addition, the cellulite reduction segment is predicted due to the launch of new goods such as ayurvedic anti-cellulite cream, fat-melting all, slimming oil, anti-cellulite oil, and others increase significantly. Cellulite is the most common disease that has been seen in a large number of people due to genetic disorders, unhealthy food, and hormonal changes. This may result in redness, lumps, swelling, and pain. Most women suffer from this problem and prefer cellulite reduction treatment, which demands segment growth.

Hair removal is the next segment that drives the market forward. Most younger and adult women prefer hair-free skin to increase self-confidence. For this, they use hair removal devices regularly, increasing segment growth. Along with women, men are also using hair removal treatments.

Skincare Devices Market - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, the North America skincare devices market dominates, and it is expected to continue its dominance throughout the forecast period. The high cost of healthcare, rising obesity rates, high per capita income, which makes skincare devices and treatments more affordable, and health coverage for skin cancer through Medicare and Medicaid in the United States are driving the expansion of the North American market. In addition, increasing approvals of cosmetic devices in America and Canada have demanded market growth. Most of the younger generation use these devices, which helps reduce the effects of changes on the skin at a young age. Increasing use of social media such as Facebook, Instagram, Twitter, etc., young people are doing a video on a particular theme or awareness-related video to increase their fame and help society by making some inspirational video demands. For this, they must have an attractive face that can be maintained using skincare devices, which helps market growth. Increasing approvals of cosmetic devices by the FDA is another factor that drives the market forward in this Region.

Due to local manufacturers producing cost-effective products and services and the increased disposable income of the constantly expanding customer base, Asia Pacific is expected to grow at the quickest rate over the forecast period. Furthermore, many local competitors in the Region are offering low-cost skincare devices, resulting in greater market competition and a beneficial impact on the Region's skincare device market growth. China, Japan, and India hold the maximum market share. China's National Institute for Food and Drugs has recently published a document for increasing the safety of skincare products by following strict rules in the manufacturing of the devices. Japanese people focus more on keeping their skin healthy using advanced skincare devices. Researcher in this Region is focused on developing different types of facial device and hair removal products due to the increased demand for those products.

Due to the critical player in the Region, the Region has a significant market share. People in the European Region are showing interest in using skin care devices due to increasing problems like skin dryness, wrinkles, and acne. As a result, manufacturers are developing devices based on people's needs and with the help of skin specialists to reduce the side effects of using the devices. Increasing advertisements by the key player in social media, television also raises the demand of the proudest due to increasing awareness about the usage and availability of skincare devices.

KEY MARKET PARTICIPANTS:

A few prominent companies in the global skincare devices market profiled in this report are Alma Lasers, Ltd., Cynosure Inc., Michelson Diagnostics Ltd., Lumenis Ltd., Palomar Medical Technologies, Solta Medical, Inc., Photomedex Inc., and Syneron Medical Ltd.

RECENT MARKET HAPPENINGS:

• Lumenis Ltd. announced the launch of Legend Pro+ in April 2019, a new face and body platform that promises long-term efficacy, quick results, and low pain, all without anesthesia.
• Lumenis Ltd. introduced the LightSheer Quattro system in January 2020. With no downtime, this system provides laser hair removal treatments for all skin types and treatment for pigmented and vascular lesions using an 805 nanometer (nm) or 1060 nanometer (nm) wavelength.
• Cutera Inc. released the excel V+ laser platform in February 2019. It has increased power and treatment speed and improved delivery systems for treating vascular lesions and pigmentation concerns.
• In 2020, L'Oréal launched an AI-based skin care device called Perso and manufactured personalized foundation and lipstick formulas. These devices are linked to the mobile Application and give suggestions to the users.