The Skin Care Devices Market size was worth US$ 9.53 Billion in 2019, and it is estimated to reach a valuation of US$ 28.15 Billion by the end of 2030, expanding at an annual rate of about 11.0% between 2020 and 2030.
The Global Consumer Skin Care Devices Market Overview:
The primary reasons behind the rise of the market are the growing awareness of appearance, the increasing interest in beauty gadgets and the rising incidence of skin ailments, the increasing geriatric population, growing disposable income and the rising prevalence of hormonal disorders.
The Global Consumer Skin Care Devices Market Insights and Forecast:
More Cases of Skin Cancer and Other Skin-Related Disorders Are Driving Market:
Based on the World Health Organization (WHO), there are approximately 132,000 cases of Melanoma and 2 to 3 million non-melanoma cases of skin cancer are reported each year in the world. The most common causes for these skin ailments are anxiety, stress, smoking and drinking alcohol, as well as exposure to UV radiation and pollution, as well as unhealthy environmental conditions. The increase in the frequency of diagnosing skin cancers and other skin ailments, using the aid of biopsies and dermatoscopy and their treatment using laser resurfacing devices as well as light therapy devices are driving the development of the skin care equipment market.
The Aging Population Is Expected to Boost Market Growth During The Forecast Time:
The ageing population plays a major role in the rising demand for skincare products. Age is linked to losing fibrous tissues as well as the shrinking of the glandular and vascular network within the skin layers. This causes the appearance of dryness, wrinkles, change in pigmentation and skin loosening. To address these skin issues in the older population, anti-ageing products are utilized, which offer an appearance of youth by reviving skin tightening and reshaping skin. So, the increasing ageing population around the world could lead to the growing use of different types of skincare products that will further propel the expansion of the skincare device market over the next few years.
Market Trends and Dynamics of the Global Consumer Skin Care Devices Market:
Category of Treatment Devices, Accounted for Larger Share in 2019:
The category of treatment devices held the largest share of the market for skincare devices. A variety of devices for treating skin, including liposuction machines and cryotherapy devices, are sold at a high cost. They have diverse applications, like cosmetic treatment (augmentation in skin or body shape) that increase the demand in the market.
Indirect Distribution Channel Expected To Be the Fastest-Growing Category In Industry:
According to distribution channels, indirect distribution channels are anticipated to be the fastest-growing segment in the market for skincare products over the next few years. This could be due to the benefits of indirect distribution channels like increased profit margins because of the increasing preference ofcustomers towards e-commerce.
The Dermatology Clinics category To Top the Market Throughout Forecast Period:
In terms of the final patient of dermatology clinics, the category is anticipated to take most of the market share during the forecast time frame because of the widespread use of devices for skincare in dermatology clinics along with the various treatments available at these clinics, which include the removal of hair, skin rejuvenation, and skin tightening.
Skin Tightening And Body Contouring Application to Experience The Fastest Growth:
Of all the categories of application within the market for skincare devices, skin tightening & body contouring is predicted to show the most rapid growth over the forecast time. This could be due to the rising rate of obesity as well as the growing amount of people who undergo liposuction that requires skin tightening. According to a report released from the International Society of Aesthetic Plastic Surgery (ISAPS) in 2018, the total number of liposuction surgical procedures in 2018 totalled 1,732,620 which was compared to 1,573,680 procedures in 2017 as well as 1,372,901 during 2014, which represents an approximately 9.2% increase over 2017. It also represents a 20.8% increase over the year 2014.
North America Accounted for The Biggest Share In Skincare Devices Industry:
North America accounted for the major share of the skincare devices market in the year 2019 and is predicted to maintain its lead for the next few years. The rise in the North American market is mainly due to the large amount of money spent on healthcare, rising incidence of obesity, a high per-capita income that leads to the affordability of skin products and treatments, as well as insurance protection for skin cancer via Medicare as well as Medicaid across the U.S.
The Centers for Disease Control and Prevention (CDC) believes that 42% of Americans will be obese by the year 2030. The rising number of obese people has also resulted in an increase in interest in liposuction, and skin firming and contouring devices, which is further assisting the development of the skincare devices market across the globe.
Asia-Pacific (APAC) – The Fastest-Growing Region in Global Market:
The world over, APAC is expected to rise at the highest CAGR over the forecast timeframe in the market for skincare devices due to its massive population, high rate of skin diseases and obesity and a growing ageing population. As per the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), The number of people who are elderly will increase by 2050, from 535 million people in the year 2015 to 1.3 billion by 2050.
Home-use Skincare Devices are The Most Important Trend in the Market:
Skincare products that can be used at home are one of the most significant trends that have been observed in the market of skincare devices. The constant advancement in technology and increasing popularity of products for skincare have raised the interest of manufacturers on the development of new affordable, more economical and simple-to-use products that can be used at home with no technical knowledge. Additionally, consumers are becoming more conscious of looking beautiful and youthful. To satisfy the demands of consumers, electronic products for skincare are continuously being introduced to the market to provide greater efficiency, convenience and less time than manual products.
The Key Market Segmentation of the Global Consumer Skin Care Devices Market:
The Global Consumer Skin Care Devices Market can be divided into Product Types, Applications, Geographical landscapes, etc.
Consumer Skin Care Devices Market Segmentation By Product Type:
Acne Care Device
Hair Removal Devices (Epilator)
Hair Removal Devices (IPL, Laser)
Consumer Skin Care Devices Market Segmentation By Application:
Consumer Skin Care Devices Market Segmentation By Geographical Landscape:
The Middle East and Africa
Major Key Players in the Global Consumer Skin Care Devices Market Are:
The Covid-19 Impact Analysis:
The rapid spread of COVID-19’s disease has had a profound impact on the healthcare industry globally. Because of COVID-19, the market for skincare devices impacted negatively worldwide, particularly during the initial two quarters of 2020. The effect of global market conditions and economic outlook directly impacts the business of major players.
The recession that they triggered was mostly because of the lockdowns and non-functioning dermatology clinics, salons and spas in several countries. This resulted in a decrease in the number of procedures performed and the demand for skincare products due to the widespread financial stress, which discouraged people from buying unnecessary products.
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