The increasing prevalence of melanoma and non-melanoma skin cancers to boost Skincare Devices Market growth

 

Skincare Devices Market, By Type (Hair Care Devices, Facial Devices, Oral Care Devices and Eye Care Devices), Application (Hair, Facial, Skin, Oral and Eye), Portability (Pocket-Sized/Handheld Device and Fixed), Mode of Operation (Electric and Battery Operated and Manual), Gender (Female and Male), End User (Commercial/Professional, Domestic/Personalized/ Homecare), Distribution Channel (Direct Sales, Retail and Online)- and by Region (Europe, North America, Asia Pacific, Africa, Latin America and Middle East) - Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030

The global Skincare Devices Market is estimated to be valued at US$ 23.8 Billion in 2023 and is expected to exhibit a CAGR of 15.6 % over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Skin care is a vast practices that assists integrity of the skin, improve its form and look, and decrease skin disorders. They can comprise nourishment, prevention of extreme contact with sun, and proper usage of creams. It provides beauty facilities that are same as aesthetic facilities.

Competitive Landscape:

Key players involved in the growth of the global Skincare Devices Market are Alma Lasers GmbH, Cutera, Inc., Aesthetic Group, Cynosure, Inc., Ambicare Health, Solta Medical, Inc., 3Gen, Syneron Medical Ltd., Image Derm, Inc., Fotona and Canfield Scientific, Inc.

Market Key Drivers:

The increasing prevalence of melanoma and non-melanoma skin cancers is expected to boost the growth of global Skincare Devices Market. For instance, as per American Cancer Society, around 97,610 people suffer from melanoma in U.S. in 2023.

Rapid visits to the dermatologists regarding the skin disorders is anticipated to drive the growth of global Skincare Devices Market. For instance, as per the American Academy of Dermatology, 1 in 3 Americans go to dermatologists, and 1 in every 4 suffer from skin annually.

Covid-19 Impact Analysis:

The Covid-19 had adversely affected the growth of global skincare devices market. There was a disruption in supply chain for the raw materials required to create skincare devices due to pandemic. Moreover, the growth of the skincare devices market is declining due to the pandemic, as manufacturers of these skin care devices have delayed their production. All these factors have impeded the market growth.

Key Takeaways:

The global skincare devices market is anticipated to exhibit a CAGR of 15.6 % during the forecast period due to the rise in demand of laser treatment such as tattoo removal, skin resurfacing. For instance, as per the ISAPS, treatments such as non-invasive fat reduction accounted to a rise of 21.1%. 

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global skincare devices market due to rise in skin cancer, skin disorders such as acne, eczema, rising approvals and launches and mergers and acquisitions. For instance, as per CDC, 80% of the U.S. population suffer from Acne vulgaris at some point of life and around 20% of them are affected from severe acne.