Skincare Devices Market Emerging Trends, Advancement, Growth and Business Opportunities 2023 to 2030

The prevalence of skin-related disorders and skin cancer has been rising since the past few years. As per the WHO, approximately 132,000 cases of melanoma and about 2-3 million cases of non-melanoma skin cancer affect people across the globe every year. Other than this, increased anxiety, stress, tobacco & alcohol consumption, pollution, UV exposure, and unfavorable environmental conditions are leading to the high prevalence skin diseases. Owing to these factors, the demand for skincare devices has also been rising across the globe.

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The global skincare devices market is predicted to reach a value of $28,157.2 million in 2030, rising from $9,531.9 million in 2019, progressing at an 11.0% CAGR during the forecast period (2020-2030), according to a report by P&S Intelligence. These days, the demand for home-use skincare devices is increasing at a rapid pace. As more and more people are becoming conscious regarding their physical appearance, they are opting for home-use skincare devices.

Attributed to this, manufacturers are also focusing on manufacturing easy-to-use products that can be operated easily at home without needing any technical expertise. Electronics skincare devices, which provide enhanced automation convenience, and consume less time, are being introduced in the market. The increased adoption of these devices in the coming years is expected to result in the growth of the market. Skincare devices can be diagnostic or treatment devices, between which, the demand for treatment devices was higher in the past.

Treatment devices are further of different types, namely microdermabrasion devices, light/LED therapy & photorejuvenation devices, cryotherapy devices, liposuction devices, laser-based devices, and electrosurgical devices. These devices are widely used for cosmetic care, such as enhancing body and skin appearance, owing to which, their demand is high. Skincare devices have a number of applications, including hair removal, cellulite reduction, skin rejuvenation, skin tightening & body contouring, and disease diagnosis & treatment.

Out of these, the demand for skincare devices is expected to increase considerably for the skin tightening & body contouring application in the coming years. The prevalence of obesity is surging across the globe, along with the number of people undergoing liposuction, which is creating high requirement for skin tightening. Apart from this, the demand for skincare devices has also been high for the hair removal application in the past, owing to the rising awareness regarding laser hair removal devices among people. The expanding e-commerce industry is also resulting in increasing adoption of home-use hair removal devices.

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Geographically, the skincare devices market is being dominated by North America, owing to the high healthcare expenditure, rising awareness regarding skin problems and their treatment, and increasing per capita income of people. Furthermore, the rising availability of health coverage for skin cancer via Medicaid and Medicare in the U.S. is also resulting in the growth of the regional domain. The Asia-Pacific region is projected to create significant demand for skincare devices in the coming years.

Hence, the market is growing due to the rising prevalence of skin diseases and skin cancer and increasing demand for home-use skincare devices.

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This release was published on openPR.