Skincare Treatment Devices Market for Vials Segment to Grow Significantly During 2021-2028
According to our latest study on "Skincare Treatment Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Application, Distribution Channel and End User," the market is expected to grow from US$ 10,898.26 million in 2021 to US$ 23,378.96 million by 2028; it is estimated to grow at a CAGR of 11.5% from 2021 to 2028. The report highlights trends prevailing in the market and factors governing the market's growth.
According to our latest study on "Skincare Treatment Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Application, Distribution Channel, and End-User," the market is expected to grow from US$ 10,898.26 million in 2021 to US$ 23,378.96 million by 2028; it is estimated to grow at a CAGR of 11.5% from 2021 to 2028. Increasing prevalence of skin disorders, rising awareness about beauty devices, increasing new product launches, and rising developments and strategic collaborations are expected to drive the skincare treatment devices market. However, the high cost of skincare treatment devices and adverse after-effects may hinder the market's growth.
Increasing Demand for Cosmetic Procedures and Untapped Opportunities from Developing Economies are Creating Opportunities for Skincare Treatment Devices Market Players:
There has been tremendous change in the beauty industry and standards globally. To comply with such beauty standards, a large amount of the population is opting for cosmetic procedures. Apart from the rising demand for aesthetics, there is an increased requirement for various procedures such as warts or lesion removal, spot reduction, tattoo removal, and scar reduction, creating opportunities for skincare treatment devices. In the past few years, there has been a significant growth in the population having tattoos. Women account for 31% of this population; however, men account only for 19%. As per New Australian Tattoo Stats, 1 in 5 Australians regret having tattoos, and around 22% of the population opt for tattoo removal procedures. Furthermore, the increase in the geriatric population raised the demand for skin rejuvenation, liposuction, and other skin-tightening procedures to provide healthy, young, and glowing skin. Additionally, technological advancement and new product launches in skincare treatment devices market are further expected to create new opportunities and support the market growth. For instance, in August 2020, Lumenis Ltd. announced the latest innovation, the NuEra Tight with FocalRF technology. The platform introduces a breakthrough in personalized non-invasive RF body treatments to match the unique needs of every patient. NuEra Tight with FocalRF technology was developed to provide tailored body treatments to a patient's distinctive needs. The new technology gives practitioners advanced tools for today's aesthetic patients, accounting for clinical indications and specific body areas, all in one device. Thus, rising demand for skincare treatment and new product launches integrated with advanced technology are likely to create ample opportunities for skincare treatment devices market.
Product-Based Insights
Based on product, the skincare treatment devices market has been categorized into light/LED therapy and photo rejuvenation devices, liposuction devices, electrosurgical devices, microdermabrasion devices, laser-based devices, and cryotherapy devices. The laser-based devices segment held the largest share of the market in 2021 and expected to register the highest CAGR in the skincare treatment devices market during 2021-2028.
Application-Based Insights
The skincare treatment devices market, based on application, is segmented into cellulite reduction, hair removal, skin rejuvenation, skin tightening and body contouring, and others. The hair removal segment held the largest share of the skincare treatment devices market in 2021 and is anticipated to continue to be the largest shareholder by 2028.
Distribution Channel-Based Insights
The skincare treatment devices market, by distribution channel, is segmented into online retails, specialty stores, supermarkets/hypermarkets, and other sales channels. In 2021, the specialty stores segment held the largest share of the skincare treatment devices market. The online retails segment is expected to grow at the fastest CAGR during 2021-2028.
End User-Based Insights
Based on end user, the skincare treatment devices market is segmented into dermatology clinics, hospitals, spas & salons, and other end users. In 2021, the dermatology clinics segment held the largest share of the market. However, the dermatology clinics segment is expected to register the highest CAGR in the skincare treatment devices market from 2021 to 2028.
Allergan; Cutera; Merz Pharma; Hologic, Inc.; Candela Corporation; Panasonic Corporation; Michelson Diagnostics Ltd.; Bausch Health Companies, Inc.; Lumenis BE Ltd.; and Photomedex Inc. are among the leading companies operating in skincare treatment devices market.
The report segments the skincare treatment devices market as follows:
Based on product, the skincare treatment devices market is categorized into light/LED therapy and photo rejuvenation devices, liposuction devices, electrosurgical devices, microdermabrasion devices, lased-based devices, and cryotherapy devices. The skincare treatment devices market, by application, is segmented into cellulite reduction, hair removal, skin rejuvenation, skin tightening & body contouring, and others. Based on distribution channel, the market is segmented into online retails, specialty stores, supermarkets/hypermarkets, and other sales channels. By end user, the skincare treatment devices market is segmented into dermatology clinics, hospitals, spas & salons, and other end users. Based on geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South & Central America (Brazil, Argentina, and the Rest of SCAM).
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