Human and animals have an outer covering known as skin. It has multiple functions and is the largest body organ of any human or animal. It protects from harmful microbes, touch, heat, and cold sensations. It also regulates the temperature of our body. Skin related disorders are at a rise which is giving popularity to skincare device market. In addition, it is also used in aesthetic dealing with beauty.
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Worldwide skin related disorder is estimated to raise the skincare device market. The major drive to the market is because of its highly advanced technologically designed devices, efficient and favoured owing to non-invasive process. Rising demand for aesthetics like tightening of skin, liposuction, body contouring, and rejuvenation of skin are the additional drive to the future market. The main hold back for the market growth is cost of equipments and competitive charging.
Increasing disorder related to skin such as skin cancer, dermatitis, psoriasis, and acne are going to raise the worldwide market. Skin abnormalities like moles, lesions, and warts are also the cause to drive the market growth along with “Medspas” and medical tourism. The market is segmented in types, applications, and regions.
The skincare device market as per type is divided into treatment devicse and diagnostics. LED therapy, microdermabrasion, electrosurgical, liposuction, and cryotherapy devices are the treatment devices. The diagnostic device is sub-divided into and image guidance system, dermatoscopes, and biopsy. The largest market share is held by the LED therapy owing to growing figure of skin treatment process for liposuction and removal of hair. However, the lasabrasion device is estimated to gain a record growth over the forecast period.
The global market for application is divided into skin tightening & body contouring, removal of hair, disease diagnosis & treatment, damage repair, skin rejuvenation, and cellulite reduction. Hair removal and skin tightening & body contouring hold the biggest market share owing to requirement of aesthetic procedures and light & laser related device.
North America holds the largest share because of technical advancement, high-income consumers, and advancement in various medical technological services. The highest rate of growth is in Asia Pacific due to rising disposable income. Moreover, many local manufacturers providing low-cost services along with good products are supporting the growing economics.
The major industries in the market include Syneron Medical Ltd, Lumenis Ltd., Cutera Inc., Photomedex Inc., Alma Lasers Ltd., Solta Medical Inc., Cynosure Inc., Palomar Medical Technologies, and Michelson Diagnostics Ltd. Technological advancement and rising number of consumers for skincare is the key opportunity for the growth of the industries.
Information Source: Grand View Research