Skincare devices are medical instruments used for various skincare treatments and procedures. These devices utilize advanced technologies such as infrared light, laser, radio frequency and plasma for therapeutic procedures including skin tightening, body contouring, photo-rejuvenation and skin resurfacing. Such devices help reduce signs of aging, diminish wrinkles, patchy pigmentation and stretch marks. The global skincare devices market is estimated to be valued at US$ 40,139.2 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The skincare devices market is witnessing robust growth due to the rising demand for non-invasive and minimal downtime anti-aging treatments. Key players are increasingly launching novel skincare devices integrated with advanced technologies such as fractional radio frequency and infrared light based systems for effective wrinkle reduction, skin tightening and skin rejuvenation. For instance, Cutera recently launched truSculpt flex, a new generation body sculpting device utilizing infrared light for non-invasive fat reduction and skin tightening. Such innovations are fueling the adoption of skincare devices among consumers and aesthetic clinics.
SWOT Analysis
Strength: Skincare devices have advanced technological features to provide effective results with minimally invasive procedures. They reduce risks of side effects associated with other procedures.
Weakness: High costs associated with latest skincare devices limits their adoption. Lack of awareness about new technologies in some regions.
Opportunity: Growing geriatric population and rising disposable incomes in developing regions drive the demand. Increasing preference for non-invasive aesthetic procedures provides growth opportunities.
Threats: Presence of alternative treatment options poses competition. Strict regulations for new products limit frequent product launches.
Key Takeaways
The global skincare devices market is expected to witness high growth. Regional analysis comprised Regional analysis comprised North America currently dominates the market owing to high consumer awareness and availability of advanced devices. Asia Pacific is expected to grow the fastest during the forecast period driven by growing medical tourism and increasing penetration of devices in China, India and Japan.
Key players operating in the skincare devices market are Beckman Coulter, Inc., Thermogenesis Holdings, Inc., Maco Pharma International GmbH, Immucor, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Grifols, S.A., Abbott Laboratories, Global Scientific Company, Sigma Laborzentrifugen GmbH, and Thermo Fisher Scientific, Inc. Rising investment by these players for development of innovative products supports market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
