skincare treatment devices Market

The skincare treatment devices market is projected to reach US$ 23,378.96 million by 2028 from US$ 10,898.26 million in 2021; it is estimated to grow at a CAGR of 11.5% during 2021-2028.

Increasing prevalence of skin disorders and rising awareness about beauty devices, along with increasing new product launches and rising developments and strategic collaborations, fuel the market's growth.

Rising prevalence of skin disorders, growing beauty industry, and increasing demand for aesthetics are creating the need for skincare treatment devices. The manufacturers are constantly working to develop new products and innovations to cater to such demand from a large population. Furthermore, a surge in research and development activities is leading to new product launches in the market. Moreover, the increase in strategic collaborations among various market players is leading to the development of new products with combined technology, thereby accelerating the growth of the skincare devices market. Along with product launches, the increasing demand for minimally and non-invasive beauty treatments is driving the skincare treatment devices market.

There has been an increase in technology integration such as ultrasonic technology, radiofrequency, microcurrent, and artificial intelligence (AI) in various recently launched products. 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.

Furthermore, an increase in R&D activities and a rise in investments by market players in the development and innovation of advanced skincare treatment devices are expected to promote market growth. Moreover, an increase in strategic collaborations among market players allows the use of other resources in terms of technology and research, leading to the development of new products. Thus, an increase in R&D activities, innovation, and strategic collaborations in the market is expected to escalate the growth of the skincare treatment devices market in the coming years.

COVID-19 placed a tremendous strain on healthcare systems globally. To decrease the risk of transmitting the virus to either patients or health care workers within their practice, providers postponed elective and preventive visits, such as annual physicals, and converted in-person visits to telemedicine visits whenever possible. Many patients also started avoiding visits because they were unwilling to leave their homes and risk exposure. However, the skincare treatment devices market will remain attractive in the long run. Moreover, the demand for dermatological devices has seen a V shape recovery. With the successful rollout of vaccines in all regions, the volume of dermatological devices is beginning to recover to its pre-pandemic levels. In 2021, the market had witnessed high demand due to the backlog of 2020 and increased interest from people related to dermatological procedures.

The global skincare treatment devices market is segmented based on product, application, distribution channel, and end user. The skincare treatment devices market based on product is segmented into light/LED therapy and photo rejuvenation device, liposuction devices, microdermabrasion devices, laser-based devices, and cryotherapy devices. The laser-based devices segment held the largest market share in 2021 and is anticipated to register the highest CAGR in the market during the forecast period due to the increasing number of cosmetic surgeries and the usage of medical lasers in these surgeries.

Based on application, the skincare treatment devices market 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 market in 2021. In addition, the skin tightening and body contouring segment is estimated to register the highest CAGR in the market during the forecast period.

Based on distribution channel, the skincare treatment devices market is segmented into online retails, specialty stores, supermarkets/hypermarkets, and others. The specialty stores segment held the largest share of the market in 2021. In addition, the online retails segment is estimated to register the highest CAGR in the market during the forecast period.

Based on end user, the skincare treatment devices market is segmented into dermatology clinics, hospitals, spas and beauty salons, and others. The dermatology clinics segment held the largest share of the market in 2021, whereas the hospitals segment is estimated to register the highest CAGR in the market during the forecast period.

The Centers for Disease Control And Prevention (CDC), German Association for Aesthetic & Plastic Surgery (DG?PC), World Health Organizations (WHO), American Society of Plastic Surgeons (ASPS), American Medical Spa Association (AMSPA), and European Federation of Pharmaceuticals Industries Associations Council (EFPIA) are among the primary and secondary sources referred to while preparing the report on the skincare treatment devices market.