Skincare Devices Market (By Product: Skincare Diagnostic Devices [Dermatoscopes, Image Guidance Systems, Biopsy Devices], Skincare Treatment Devices [Lasabrasion, LED Therapy, Liposuction, Microdermabrasion, Cryotherapy, Electrosurgical]; By Application: Disease Diagnosis & Treatment, Hair Removal, Skin Rejuvenation, Cellulite Reduction, Body Contouring And Skin Tightening) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027
![Skincare Devices Market (By Product: Skincare Diagnostic Devices [Dermatoscopes, Image Guidance Systems, Biopsy Devices], Skincare Treatment Devices [Lasabrasion, LED Therapy, Liposuction, Microdermabrasion, Cryotherapy, Electrosurgical]; By Application: Disease Diagnosis & Treatment, Hair Removal, Skin Rejuvenation, Cellulite Reduction, Body Contouring And Skin Tightening) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027](assets/images/format-png.png "Skincare Devices Market (By Product: Skincare Diagnostic Devices [Dermatoscopes, Image Guidance Systems, Biopsy Devices], Skincare Treatment Devices [Lasabrasion, LED Therapy, Liposuction, Microdermabrasion, Cryotherapy, Electrosurgical]; By Application: Disease Diagnosis & Treatment, Hair Removal, Skin Rejuvenation, Cellulite Reduction, Body Contouring And Skin Tightening) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027")
The global skincare devices market is anticipated to grow at a CAGR of around 10.2% during the forecast period 2020 to 2027 and to reach around US$ 12.9 Bn by 2027.
Market Dynamics
Increasing incidences of skin diseases across the globe and rise in demand from consumers for various treatments such as body contouring, skin tightening, and skin rejuvenation are major factors expected to drive the growth of global skincare devices market. In addition, rising awareness among consumers related to skin care and adoption of minimal invasive devices from healthcare practitioners are among other factors expected to support the growth of skincare devices market.
Moreover, increasing government spending on development of smart healthcare infrastructure and players focus on product development activities and approach towards introduction of innovative products and solutions are among factors expected to augment the growth of global skincare devices market.
In 2020, BioPhotas, Inc. a global manufacturing company that develops and markets devices for healthcare providers and consumers launched Celluma iSeries, the first battery-powered LED "panel" device. The product is an extension to present Celluma Series of Light Therapy Devices product line. The product launch is expected to help the company to enhance the business.
In 2020, Channel Medsystems, Inc. a clinical-stage medical technology company received approval from U.S. Food and Drug Administration (FDA) for newest Cerene® Cryotherapy Device, a next-generation technology for the treatment of heavy menstrual bleeding in the office setting. This is expected to help the company to enhance the business and increase the revenue share.
In 2019, Medtronic a global leader in medical technology, services, and solutions collaborated with Phillips in order to increase the sale of products behalf of Philips. This is expected to increase the revenue of Phillips Company and enhance the customer base.
In 2016, iDoc24 an online provider of dermatology service in partnership with DermLite launched launched a smartphone-connected dermatoscope, called DermLite Hud. The product launch is expected to help the company to enhance the customer base and increase the revenue share in the skincare market.
Moreover, favorable business policies by the government and emergence of small and mid-size enterprises with innovative solution are factors that are expected to augment the growth of target market.
However, factors such as high cost associated to devices and stringent government regulation related to product approval are expected to hamper the growth of global skincare devices market. In addition, lack of developed infrastructure in order to support the adoption of advanced devices is expected to challenge the growth of skincare devices market.
Technological advancements by major players, development of low-cost products with better efficiency, and increasing awareness among consumers related to various therapies are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership between international and regional players is another factors expected to support the revenue transaction of global skincare devices market.
Segment Analysis by Region
The market in North America is expected to account for major revenue share in the global skincare devices market due to high patient pool suffering from skin disorder. In addition, availability of advanced infrastructure for adoption of enhanced devices and favorable insurance policies are factors expected to support the growth of regional market.
Competitive Landscape
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Report coverage
|
Market |
Global Skincare Devices Market |
|
Analysis Period |
2016 – 2027 |
|
Base Year |
2019 |
|
Forecast Data |
2020 – 2027 |
|
Market Stratification |
Product, Application, and Geography |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
|
Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Skincare Devices Market Segment Analysis, 2019
The global skincare devices market is segmented in to product and application. The application segment is divided into disease diagnosis & treatment, hair removal, skin rejuvenation, cellulite reduction, and body contouring and skin tightening. Among the application the hair removal segment is expected to account for significant revenue share in the target segment. The product segment is bifurcated into skincare diagnostic devices and skincare treatment devices.
The players profiled in the report are Michelson Diagnostics Ltd., Lumenis Ltd., Palomar Medical Technologies, Solta Medical, Inc., Cutera Inc., Alma Lasers, Ltd., Cynosure Inc., Photomedex Inc. and Syneron Medical Ltd.
Market Segmentation
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
Market By Application
Disease Diagnosis & Treatment
Hair Removal
Skin Rejuvenation
Cellulite Reduction
Body Contouring And Skin Tightening
Market By Region
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Which is the major factor expected to drive the global market?
Increasing incidences of skin diseases across the globe and rise in demand from consumers for various treatments such as body contouring, skin tightening, and skin rejuvenation are major factors expected to drive the growth of global skincare devices market.
What will be the market size of global skincare devices market in 2027?
The global skincare devices market in 2027 is expected to be above US$ 12.9 Bn.
Which segment is growing in application segment?
In application the hair removal segment is growing at faster pace.
What is the CAGR of the global skincare devices market?
The CAGR of the global skincare devices market from 2020-2027 is above 10.2%.
Which region is expected to grow faster?
In the global market the Asia Pacific region is expected to grow faster.
What are the players considered in the report scope?
Some of the players considered in the report scope are Michelson Diagnostics Ltd., Lumenis Ltd., Palomar Medical Technologies, and Solta Medical, Inc.
Which region is expected to account for major revenue share in the global market?
The Asia Pacific is expected to account for major revenue share in the global market.
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