Skincare Devices Industry Overview
The global skincare devices market size was valued at USD 12.5 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 11.9% from 2022 to 2030. The increasing prevalence of skin cancer and other skin diseases is contributing largely to the high demand for skincare devices. Furthermore, growing awareness among people about the esthetic appeal and technological advancements in skincare devices are also increasing the adoption of these devices significantly. The rise in disposable income is also considered as one of the important factors driving the market.
The prevalence of melanoma and non-melanoma skin cancers is rising significantly. According to The Skin Cancer Foundation, around 10,130 people die due to melanoma every year in the U.S. Furthermore, American Cancer Society 2018 statistics stated that in the U.S., around 91,270 new melanoma cases are expected to be diagnosed in that year. Meanwhile, the American Academy of Dermatology (AAD) estimated that 1 in 3 Americans visit dermatologists, and 1 in every 4 are affected with skin disease every year. Hence, there is a growing need for rapid diagnosis of skin disorders.
Gather more insights about the market drivers, restraints, and growth of the Global Skincare Devices market
The COVID-19 pandemic had significantly affected the market for skincare devices. Initially, the lockdown and supply chain disruption had negatively affected the market. Short-term negative growth was observed in the market due to almost entirely suspension of non-COVID-19 related surgeries, limited operations of manufacturing, and disruption in the supply chain. However, the market for dermatological devices has seen a V shape recovery. With the successful rollout of vaccines in all regions, the volume of dermatological devices is beginning to recover to its pre-pandemic levels. In 2021, the market has witnessed high demand due to the backlog of 2020 and increased interest from people related to dermatological procedures.
The market has witnessed high volatility during the past few months and is expected to return to its normal growth trend by 2023. The market for skincare devices is developing rapidly due to growing esthetic awareness. In the current scenario, people of all age groups are increasingly concerned about enhancing their esthetic appeal. Complete skin rejuvenation improves the esthetic appeal of a person. There has been a latent shift from using conventional products to technologically advanced equipment, which aids in better diagnosis and treatment of various skin diseases as well as improve one’s esthetic appeal. The introduction of technologically advanced noninvasive laser therapies has led to the high demand for skincare devices.
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Skincare Devices Market Segmentation
Grand View Research has segmented the skincare devices market on the basis of product, application, end-use, and region:
Skincare Devices Product Outlook (Revenue, USD Million, 2018 - 2030)
- Diagnostic Devices
- Treatment Devices
Skincare Devices Application Outlook (Revenue, USD Million, 2018 - 2030)
- Diagnostic Devices
- Treatment Devices
Skincare Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Hospitals
- Clinics
- Others
Skincare Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
Market Share Insights
November 2021: Lancer Skincare the premier Beverly Hills-based international skincare brand teamed up with the tech startup ByondXR to launch The Virtual Lancer Dermatology Shop. Lancer Skincare's new virtual store will provide customers with the in-home benefits of a Lancer dermatology practice through a curated, digital experience that moves across the newly growing digitized world.
Key Companies profiled:
Some of the prominent players in the Skincare Devices market include:
- Alma Lasers GmbH
- Cynosure, Inc.
- Solta Medical, Inc.
- Cutera, Inc.
- Syneron Medical Ltd.
- Canfield Scientific, Inc.
- 3Gen
- Aesthetic Group
- Ambicare Health
- Image Derm, Inc.
- Fotona
Order a free sample PDF of the Skincare Devices Market Intelligence Study, published by Grand View Research.
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