Skincare Device Market

The global skincare device market size was estimated to be US$ 12.7 billion in 2021 and is expected grow at a CAGR of 11.3% between 2023 to 2032.

Revenue opportunities for companies in the skincare devices market have increased due to the rise in demand for consumer durable electronic goods. Skincare devices have multiple applications in dermatology such as in diagnosis, for treatment, enhancement of appearance of the skin and various aesthetic applications for cosmetic care of the body.

The growing popularity of cosmetic procedures such as liposuction, skin tightening, body contouring and skin rejuvenation to make people look more youthful and fitter has bolstered growth for the skin care devices market globally. Furthermore, procedures such as tattoo removal, scar reduction and spot reduction have also witnessed increase in demand for devices for skincare.

North America dominates the global skincare devices market with 40% share. Asia Pacific market is also expanding rapidly and is likely to grow at a high CAGR throughout the forecast period. The presence of large high-income consumer base and introduction of latest technologies for skincare are factors for market growth. Additionally, the increase in incidences of skin disorders and adoption of advanced products and techniques will fuel growth of this market.

Skincare Devices Market Dynamics

High Prevalence of Skin Disorders

Incidences of skin disorders such as acne, atopic dermatitis, psoriasis, rosacea and skin cancer are on the rise. Around 50 million people in the U.S. are affected by acne each year, approximately 7.5 million people have Psoriasis, 16 million people are affected by Rosacea and around 9500 people are diagnosed with skin cancer everyday according to the American Academy of Dermatology Association.

Rise in minimally and non-invasive procedures

Non-invasive procedures for fat removal are gaining popularity due to rise in obesity rates around the world. People with large disposable incomes are willing to spend on such procedures and this should increase growth of this market

During Coronavirus Pandemic Digital Sales Platforms Gain Popularity

To increase awareness about the benefits of skincare devices, brands are offering heavy discounts on products and grabbing attention through marketing and advertising on digital sales platforms. As a result of such promotions, there is an increase in demand for skincare devices.

Challenges in the Global Skincare Device Market

High cost of manufacturing

Developing skincare devices is a highly complex and costly process that requires significant investments, clinical trial expertise, quality systems, scientific standards and technical capabilities. Device manufacturers are required to invest in clinical trials and post-approval safety monitoring programs due to stringent regulations required by the regulators.

Concerns regarding failure of skincare devices

Multiple instances related with the failure of skincare devices have unfortunately resulted in patient mortality and disabilities. Consequently, government regulators have imposed various stringent regulations and standards pertaining to new devices which are expected to restrain market growth.

Lack of skilled specialists

The lack of skilled dermatologists needed to properly use the device and to avoid adverse reactions owing to incorrect usage are major factors which restrain the global market growth. Unless these factors are addressed by healthcare authorities the global market growth will be hindered even during the forecast period.

The major players operating in the skincare device market are Alma Lasers Inc, Cutera Inc, Cynosure Inc, GE Healthcare, Human med AG, Lumenis Ltd, Michelson Diagnostics, Photomedex Inc, Solta Medical Inc, Syneron Medical Ltd and others.

Global Skincare Device Market Segmentation

By Type

• Diagnostic devices
• Biopsy devices
• Image guidance systems
• Dermatoscopes

By Technology

• LED therapy
• Lasabrasion
• Liposuction
• Microdermabrasion
• Electrosurgical
• Cryotherapy

By Application

• Cellulite reduction
• Disease diagnosis & treatment
• Hair removal
• Skin tightening & body contouring
• Skin rejuvenation
• Damage repair

By Geography

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • India
  • China
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• South America
  • Brazil
  • Rest of South America