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The Worldwide Skincare Devices Industry is Expected to Grow at a CAGR of 11% Between 2020 to 2030 - ResearchAndMarkets.com

·3-min read

The "Skincare Devices Market Research Report: By Product, Distribution Channel, Application, End User - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The International Society of Aesthetic Plastic Surgery (ISAPS) says that in 2018, 10,607,227 surgical cosmetic procedures were performed around the world.

Due to the rising demand for aesthetic procedures, the global skincare devices market is predicted to grow to $28,157.2 million by 2030 from $9,531.9 million in 2019, at a healthy 11.0% CAGR between 2020 and 2030, according to the publisher.

Similarly, the volume of non-surgical aesthetic procedures, such as calcium hydroxylapatite, botulinum toxin, poly-L-lactic acid, and hyaluronic acid treatments; non-surgical hyperventilation and skin tightening procedures, chemical peel, non-surgical fat reduction, and cellulite reduction, is also rising. In particular, the skincare devices market is being propelled by the rising demand for breast lift, breast augmentation, neck lift, fat grafting (face), and brow lift procedures.

The lockdowns implemented in the wake of the COVID-19 pandemic have forced skincare device manufacturers to suspend manufacturing and sales operations, thus leading to low availability of such products. In addition, the skincare devices market advance is also being currently hampered by the closure of cosmetic centers and dermatology clinics and most non-critical hospital departments, both to avoid unnecessary human-human contact and divert the available healthcare resources to COVID-19 care.

In the coming years, the skin tightening & body contouring category is expected to advance with the highest CAGR in the skincare devices market, of 11.8%, under segmentation by application. On account of the increasing volume of liposuction procedures and incidence of obesity, a rising number of people are suffering from loose skin. The ISAPS says that from 1,372,901 in 2014, the number of liposuction surgeries performed around the globe surged to 1,573,680 in 2017 and 1,732,620 in 2018.

The dermatology clinics category would continue dominating the skincare devices market in the immediate future, under the end user segment. Since dermatology clinics are dedicated to skincare, they use the related devices in large numbers, for skin rejuvenation, hair removal, skin tightening, and other purposes.

The highest revenue in the skincare devices market in the present time is generated in North America. With the increasing awareness about skincare and appearance and high disposable income of people, the volume of skincare treatments and associated device sales are high in the region. Additionally, skin cancer treatment coverage is provided under the Medicaid and Medicare programs in the U.S., which further results in high device adoption.

Market Dynamics

Trends

  • Increase in footfall at medical spas

  • Increasing use of home-use skincare devices

Drivers

  • Increasing cases of skin cancer and other skin-related disorders

  • Technological advancements in skincare devices

  • Increasing disposable income leading to rising expenditure on skincare

  • Rising demand for aesthetic procedures

  • Growing geriatric population

  • Impact analysis of drivers on market forecast

Restraints

  • Side-effects associated with skincare devices

  • Impact analysis of restraints on market forecast

Opportunities

  • Rise of medical spas in emerging countries

  • Emerging medical tourism sector

Companies Mentioned

  • Allergan plc

  • Merz Pharma GmbH & Co. KGaA

  • Candela Corporation

  • Michelson Diagnostics Ltd.

  • Lumenis Ltd.

  • PhotoMedex Inc.

  • Alma Lasers Ltd.

  • Cutera Inc.

  • Hologic Inc.

  • Panasonic Corporation

  • Bausch Health Companies Inc.

  • Beijing Toplaser Technology Company Limited

  • Nu Skin Enterprises Inc.

  • TRIA Beauty Inc.

For more information about this report visit https://www.researchandmarkets.com/r/s5vtok

View source version on businesswire.com: https://www.businesswire.com/news/home/20201125005696/en/

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