Global Skincare Devices Market: Snapshot
Skincare devices refer to the equipment that is used to diagnose and treat skin disorders, as well as those equipment that are used to improve the aesthetics of the human skin. It is therefore an umbrella term used for both medical and cosmetic tools. One of the key drivers augmenting the global skincare devices market over the coming years, is the extremely high demand for these devices from the perspective of cosmetic changes and the demand to improve physical appearance. From a purely medical perspective, the demand for skincare devices in diagnostics is expected to increase at a very high pace due to their valuable role in the diagnosis and treatment of certain types of cancers. The overall number of cancer patients is increasing across the world, as a result of this equipment such as skincare devices are in high demand.
The global skincare devices market is expected to rise at an optimistic CAGR of 10.1% within a forecast period from 2015 to 2023. The market was valued at US$7.25 bn in 2014 and is expected to reach US$17.29 bn by the end of 2023.
Skincare Treatment Demand in North America Exceptionally High
The global skincare devices market can segmented on the basis of regional preferences, into North America, Europe, Latin America, Asia Pacific, and the MEA. From this perspective, North America, Europe and especially Eastern Europe, and Asia Pacific are showing a phenomenal rate of increase in demand for skincare devices. In 2014, North America was rated the leader in the global skincare devices market on the basis of overall market value, followed by Europe. The skincare devices market in North America is expected to expand at a CAGR of 9.92% within a forecast period from 2015 to 2023, and held as much as 44.4% of the overall market in that year. The demand for skincare devices in North America is especially high due to the high baby boomer population in this region. This demographic is roughly full of people in their retirement, and at an age when disease prevalence is quite high. Their concern over personal health as well as appearance is creating a high demand for skincare devices across this region.
At the same time, Asia Pacific is expected to expand at a whopping CAGR of 11.78% from 2015 to 2023. This high growth rate is attributed to the high population density coupled with a rising disposable income and increasing awareness of options for beauty and wellness treatments and products. This region is showing a vast unmet demand that can be filled by both globally prominent as well as regional players.
Cellulite Treatment in Huge Demand
On the basis of applications, the global skincare devices market can be segmented into disease diagnostic and treatment, hair removal, skin rejuvenation, damage repair, skin tightening, body contouring, and cellulite reduction. Among these, the global skincare devices market is experiencing a massive demand for cellulite reduction. Studies show that more than 85% of the female population is affected by cellulite issues globally, and is considered as a cause of worry for many individuals, especially within urban populations. This demographic is therefore creating a very high demand for cellulite treatments, thereby boosting the global skincare devices market.
The key players in the global skincare devices market so far, have included Lumenis Ltd., Valeant Pharmaceuticals, Cynosure, ZELTIQ Aesthetics, Inc., and Syneron Medical Ltd.
Dermatology refers to diagnosis and treatment of skin abnormalities and disorders. Additionally, skincare devices also comprises various aesthetic applications for cosmetic care and augmentation of skin and body appearance. This report on the global skincare devices analyses the current and future prospects of the market. The report comprises an elaborated executive summary, including a market snapshot that provides overall information of various segments and sub-segments within the global skincare devices market. The research is a robust combination of primary and secondary research. Primary research formed the bulk of our research efforts with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ million for each segment for the period from 2013 to 2023, considering the macro and micro environmental factors. Growth rates for each segment within the skincare devices market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
The market overview section of the report includes qualitative analysis of the overall skincare devices market, including the factors determining the market dynamics such as drivers, restraints and opportunities, along with Porter’s Five Forces Analysis. The increasing global incidence of skin cancers coupled with the rising disposable incomes of patients is propelling the uptake of skincare devices. However, the competitive pricing and higher equipment costs are set to restrain the market during the forecast period. Additionally, the report contains market attractiveness analysis by geography and competitive landscape by key players. The market attractiveness analysis explains the intensity of competition in the market in different geographies. The competitive scenario between different market players is evaluated through market share analysis. These factors would help the market players to take strategic decisions in order to strengthen their positions and expand their share in the global market.
The global skincare devices market has been segmented on the basis of type of product, type of application and geography. Based on product type, the skincare devices market has been categorized into two key segments: treatment devices and diagnostic devices. Treatment devices have been categorized in to six sub-segments: LED Therapy, Lasabrasion, Microdermabrasion, Liposuction, Electrosurgical, Cryotherapy, while diagnostic devices have been categorized into three sub-segments: Dermatoscopes, Biopsy Devices and Image Guidance Systems. Application for the skincare devices include: Disease Diagnosis/Treatment, Skin Rejuvenation, Hair Removal, Cellulite Reduction, Skin Tightening and Body contouring and Damage Repair. Market revenue in terms of US$ Mn for the period between 2013 and 2023 along with the compound annual growth rate (CAGR %) from 2015 to 2023 are provided for all the segments, considering 2014 as the base year.
Geographically, the global skincare devices market has been analyzed considering four major regions: North America, Europe, Asia-Pacific and Rest of the World (RoW). In addition the regions have been further segmented by major countries from each region, which include the U.S, Canada, Germany, U.K., China and India. The report also covers information intended to assist existing players to expand their market share and new companies to establish their presence in the skincare devices market. The report also profiles major players in the skincare devices market based on various attributes such as company overview, financial overview, key business strategies, product portfolio, and recent developments. The market for skincare devices is highly fragmented with a large number of manufacturers competing with similar shares in the global market. Key players profiled in this report include GE Healthcare, Cynosure, Inc., Lumenis Ltd., Syneron Medical Ltd., and Solta Medical, Inc.
The global skincare devices market has been segmented as follows:
Global Skincare Devices Market - By Type
- Diagnostic Devices
- Biopsy Devices
- Image Guidance Systems
- Treatment Devices
- Lasabrasion (laser skin resurfacing) Devices
- Microdermabrasion Devices
- Electrosurgical Devices
- Liposuction Devices
- Cryotherapy Devices
- LED Therapy Devices
Global Skincare Devices Market - By Application
- Disease Diagnosis And Treatment
- Skin Rejuvenation (acne, sun damage, and wrinkles)
- Hair Removal
- Cellulite Reduction
- Skin Tightening and Body Contouring
- Damage Repair (vascular, pigmented lesions, and tattoo removal)
Skincare Devices Market - By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa