Summary

The global skincare devices market is expected to grow at a significant rate of around 13% during the forecast period. The key factor driving the growth of the skincare devices market globally is the increased concerns among the young population about their aesthetics and appearances. The expansion of the skin devices market is being aided by rising disposable income and increased global awareness of the availability of various skin devices and treatments. The increased adoption rate of technological advances and increasing living standards have both favorably influenced the market growth for medical devices.
The rise in skin disorders, the large aging population, and skin problems caused by sun rays are some of the factors that are propelling the global market for skin devices. In the upcoming years, it is anticipated that these factors would increase market demand. For instance, according to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice what it was in 1980 at 382 million. The elderly population is expected to double again by 2050 and reach nearly 2.1 billion worldwide.

AbbVie Inc., Merz Pharma, Lumenis Be Ltd., Alma Lasers Ltd., Cutera, Hologic Inc., Panasonic Holdings Corporation, Bausch Health Companies Inc., TRIA BEAUTY, and Michelson Diagnostics UK Ltd are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst application, hair removal category to witness robust CAGR during the forecast period”
Based on application, the market is segmented into skin tightening & body contouring, cellulite reduction, disease diagnosis & treatment, hair removal, and skin rejuvenation. Among them, the hair removal category is to witness a higher CAGR during the forecast period. This is mainly due to the consumers prefer beauty clinics over other settings because of their expertise in the field of hair removal treatment and increasing concerns related to hair fall problems as well as the introduction of more technologically enhanced products will contribute to the market growth.

“Amongst end-user, the dermatology clinics to hold a considerable growth rate during the forecast period”
On the basis of end-user, the market is categorized into dermatology clinics, hospitals, and spas & salons. Among these, dermatology clinics hold a considerable growth rate during the forecast period. Dermatology clinics are cosmetic and medical facilities that specialize in the diagnosis and treatment of skin diseases. Certified plastic surgeons provide both surgical and nonsurgical procedures in dermatological clinics. For instance, according to TripleTree, there will be 14,000 dermatologists and 9,000 dermatology practices in the United States by the year 2020.

“North America to hold a significant share in the market”
For a better understanding of the market adoption of the skincare devices industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising demand for various skincare-related services in the region, a highly aware and economically stable population coupled with many cosmetic procedures performed in the region are the main factors for the growth of the market. For instance, according to the American Society of Plastic Surgeons (ASPS), in 2020, about 15.6 million cosmetic procedures were performed in the U.S.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global skincare devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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