Over the past few years, the world of beauty has evolved considerably as many manufacturers have been constantly offering skin care products and solutions for general purposes and also for niche needs. The global skincare devices market offers many skin care products and solutions for general and medical use. The skincare sector is an integral part of the global economy. It is currently marching towards growth due to the constant introduction of ambitious plans by leading players to offer various skin care solutions to a wide variety of consumers. With the advent of wearable technology, the global skincare devices market is set for rapid expansion.
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How will Changing Trends and Consumer Behavior Impact Global Skincare Devices Market?
The increasing acceptance of skincare procedures such as skin tightening, liposuction, body contouring, and skin rejuvenation is expected to play a major role towards the growth of the global skincare market. The growing desire among people to maintain well-groomed looks, a glow, and healthy skin is expected to help drive the global skincare devices market in the years to come.
The new skin care products and devices have brought many new dimensions to businesses, inviting a change, not only in terms of revenue but also in many cosmetic procedures. Also, the growing application of skincare devices is predicted to contribute towards the growth of the global market. Disease diagnosis and treatment, skin rejuvenation, hair removal, cellulite reduction, skin tightening and body contouring, and damage repair are some of the common application areas of skincare devices.
In 2014, the cellulite reduction segment accounted for a dominant share of 24.3% in the global skincare devices market owing to the rising popularity of non-invasive skincare procedures for the removal of fat and the constant rise in obesity.
The rise in consumer spending on skincare products and cosmetics and the increasing aging population are two of the major factors expected to benefit the global skincare devices market in the near future.
Lasabrasion Devices Segment to Expand at 11.0% CAGR from 2015 to 2023
The global skincare devices market is segmented on the basis of geography, application, and product type. The introduction of new skincare devices such as biopsy devices, image guidance systems, dermatoscopes, lasabrasion devices, microdermabrasion devices, electrosurgical devices, liposuction devices, LED therapy devices, and cryotheraphy devices is expected to propel the global skincare devices market in the near future. In 2014, the global skincare devices market was dominated by the LED therapy segment. But, the lasabrasion devices segment is predicted to expand at an 11.0% CAGR from 2015 to 2023. Factors such as shorter recovery period and the ease of use of laser-based skincare devices are predicted to propel the lasabrasion devices segment in the coming few years.
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By geography, North America dominated the global skincare devices market in 2014. The presence of key manufacturers of skincare products is expected to propel the North America skincare devices market in the near future. However, Asia Pacific is predicted to contribute significantly towards the growth of the global skincare devices market in the near future.
Some of the leading players operating in the global skincare devices market are Alma Lasers Ltd., Cynosure, Inc., GE Healthcare, Michelson Diagnostics, Solta Medical, Inc., Cutera, Inc., Human Med AG, Lumenis Ltd., and Syneron Medical Ltd.