ROCKVILLE, Md., March 09, 2022 (GLOBE NEWSWIRE) — The global skincare device market is expected to reach a market value of US$14 billion in 2022 and is expected to reach US$43.48 billion by 2032 The predicted market growth is 12% during the forecast period from 2022 to 2032. The growth of the market can be attributed to the increasing prevalence of skin cancer and growing desire to improve aesthetic appeal. The American Cancer Society reveals that in 2022, approximately 99,780 men and women will be diagnosed with new melanomas, and nearly 7,650 will likely die from them.
Additionally, rising disposable income is expected to provide a significant boost to the market’s upside. From 2015 to 2021, sales of skincare devices grew at a CAGR of 10.2% to reach US$12 billion in value. During the COVID-19 pandemic, the outlook dropped significantly, with priority given to patients infected with the coronavirus. However, this blow was short-lived, as flattening infection curves and accelerating vaccination campaigns allowed a resumption of non-COVID procedures.
The future growth of the market can be attributed to the growing prevalence of skin cancer and other skin diseases among the masses. On the contrary, the high expenses associated with the market and the side effects of using skin care devices such as rashes and heat-induced skin lesions may hamper the growth of the market during the period of forecast.
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|Market value documented in 2021||$12 billion|
|Expected market value in 2032||14 billion US dollars|
|Projected forecast value in 2032||US$43.48 billion|
|World growth rate (2022-2032)||12% CAGR|
|North America market share||42%|
|Asia-Pacific growth rate||9.9% CAGR|
Key Insights from the Skincare Devices Market Research
- Global Skincare Devices Market to Triple from 2022 to 2032
- Hair Removal Skincare Devices Market Demand is Expected to Accumulate 15% of Global Industry in 2022
- About 47% of skin care devices will be deployed in hospitals in the long term
- North America will be a very lucrative market for skincare devices, accounting for 2/5and global market demand
- Asia-Pacific to Record Impressive Market Growth, CAGR of 9.9% to 2032
“Rapid advances in healthcare technologies to deliver faster and more accurate results for patients are leading to increased adoption of automated skin care devices, a trend that should be exploited in the future, expanding the prospects of leading manufacturers,” says a Fact.MR analyst. .
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The major players in the global skin care devices market are adopting various tactics to improve their customer base. Acquisition, partnership and collaboration are some of the methods adopted by vendors to strengthen their position in the market. Some of the developments among the major players are:
- In August 2020, Shiseido signed an agreement to enter into a joint venture with Ya-Man Ltd. The new company, called Effectim Co, began operations in October 2020 and held 65:35 in favor of Shiseido.
- In November 2021, Lancer Skincare partnered with tech startup ByondXR and launched The Virtual Lancer Dermatology Shop. The new virtual store will offer the at-home benefits of Lancer Dermatology through a digital platform.
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Key segments covered in the Skin Care Devices market report
- By product:
- Diagnostic devices
- Biopsy devices
- Other Imaging Devices
- Treatment devices
- Light therapy devices
- Electrosurgical equipment
- Liposuction devices
- Microdermabrasion devices
- Cryotherapy devices
- Diagnostic devices
- Per application:
- Diagnostic devices
- Diagnosis of skin cancer
- Other Skin Care Diagnostic Devices
- Skin care treatment devices
- Skin care devices for hair removal
- Skin care devices for skin rejuvenation
- Skin care devices for acne, psoriasis and tattoo removal
- Skin care devices for wrinkle removal and skin resurfacing
- Skin care devices for body contouring and fat removal
- Skin care devices for cellulite reduction
- Skin care devices for the removal of vascular and pigmented lesions
- Other Skin Care Treatment Devices
- Diagnostic devices
- By end use:
- Skin care devices for hospitals
- Skin care devices for clinics
- Skin care devices for other end uses
More valuable information
Fact.MR, in its new offering, presents an unbiased analysis of the global skin care devices market, showcasing historical market data (2015-2021) and forecast statistics for the period 2022-2032.
The study reveals critical insights based on product (diagnostic devices and treatment devices), application (diagnostic devices and treatment devices), and end-use (hospitals, clinics and others) across five major regions ( North America, Latin America, Europe, Asia-Pacific and Middle East and Africa).
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Knowledge of the field of Fact.MR in the field of health
Our team of healthcare consultants guide organizations through every step of their business strategy by helping you understand how the latest influencers explain the operational and strategic transformation of the healthcare industry. Our expertise in recognizing challenges and trends affecting the global healthcare industry provides much-needed insight and support – encompassing a strategic perspective that helps you identify critical issues and design appropriate solutions.
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