Skincare Devices Market (By Product: Skincare Diagnostic Devices [Dermatoscopes, Image Guidance Systems, Biopsy Devices], Skincare Treatment Devices [Lasabrasion, LED Therapy, Liposuction, Microdermabrasion, Cryotherapy, Electrosurgical]; By Application: Disease Diagnosis & Treatment, Hair Removal, Skin Rejuvenation, Cellulite Reduction, Body Contouring And Skin Tightening) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

The global skincare devices market is anticipated to grow at a CAGR of around 10.2% during the forecast period 2020 to 2027 and to reach around US$ 12.9 Bn by 2027.

Market Dynamics

Increasing incidences of skin diseases across the globe and rise in demand from consumers for various treatments such as body contouring, skin tightening, and skin rejuvenation are major factors expected to drive the growth of global skincare devices market. In addition, rising awareness among consumers related to skin care and adoption of minimal invasive devices from healthcare practitioners are among other factors expected to support the growth of skincare devices market.

Moreover, increasing government spending on development of smart healthcare infrastructure and players focus on product development activities and approach towards introduction of innovative products and solutions are among factors expected to augment the growth of global skincare devices market.

In 2020, BioPhotas, Inc. a global manufacturing company that develops and markets devices for healthcare providers and consumers launched Celluma iSeries, the first battery-powered LED "panel" device. The product is an extension to present Celluma Series of Light Therapy Devices product line. The product launch is expected to help the company to enhance the business.

In 2020, Channel Medsystems, Inc. a clinical-stage medical technology company received approval from U.S. Food and Drug Administration (FDA) for newest Cerene® Cryotherapy Device, a next-generation technology for the treatment of heavy menstrual bleeding in the office setting. This is expected to help the company to enhance the business and increase the revenue share.

In 2019, Medtronic a global leader in medical technology, services, and solutions collaborated with Phillips in order to increase the sale of products behalf of Philips. This is expected to increase the revenue of Phillips Company and enhance the customer base.

In 2016, iDoc24 an online provider of dermatology service in partnership with DermLite launched launched a smartphone-connected dermatoscope, called DermLite Hud. The product launch is expected to help the company to enhance the customer base and increase the revenue share in the skincare market.

Moreover, favorable business policies by the government and emergence of small and mid-size enterprises with innovative solution are factors that are expected to augment the growth of target market.

However, factors such as high cost associated to devices and stringent government regulation related to product approval are expected to hamper the growth of global skincare devices market. In addition, lack of developed infrastructure in order to support the adoption of advanced devices is expected to challenge the growth of skincare devices market.

Technological advancements by major players, development of low-cost products with better efficiency, and increasing awareness among consumers related to various therapies are factors expected to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership between international and regional players is another factors expected to support the revenue transaction of global skincare devices market.

Segment Analysis by Region

The market in North America is expected to account for major revenue share in the global skincare devices market due to high patient pool suffering from skin disorder. In addition, availability of advanced infrastructure for adoption of enhanced devices and favorable insurance policies are factors expected to support the growth of regional market.

Competitive Landscape                                                                                 

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Skincare Devices Market Segment Analysis, 2019

The global skincare devices market is segmented in to product and application. The application segment is divided into disease diagnosis & treatment, hair removal, skin rejuvenation, cellulite reduction, and body contouring and skin tightening. Among the application the hair removal segment is expected to account for significant revenue share in the target segment. The product segment is bifurcated into skincare diagnostic devices and skincare treatment devices.

The players profiled in the report are Michelson Diagnostics Ltd., Lumenis Ltd., Palomar Medical Technologies, Solta Medical, Inc., Cutera Inc., Alma Lasers, Ltd., Cynosure Inc., Photomedex Inc. and Syneron Medical Ltd.

Market Segmentation

Market By Product

Skincare Diagnostic Devices

• Dermatoscopes
• Image Guidance Systems
• Biopsy Devices

Skincare Treatment Devices

• Lasabrasion Devices
• LED Therapy Devices
• Liposuction Devices
• Microdermabrasion Devices
• Cryotherapy Devices
• Electrosurgical Devices

Market By Application

Disease Diagnosis & Treatment

Hair Removal

Skin Rejuvenation

Cellulite Reduction

Body Contouring And Skin Tightening

Market By Region

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa