Dermatoscopes, image guidancesystems, and biopsy devices are used for the diagnosis of skin diseases,whereas lasabrasion devices, microdermabrasion devices, electrosurgicaldevices, liposuction devices, cryotherapy devices, and LED therapy devices are usedfor the treatment of skin diseases.
Statistics:
The global SkincareDevices Market is estimated to account for US$ 25,533.7 Mn in terms ofvalue by the end of 2027.
Global Skincare Devices Market:Drivers
Increasing focus on aestheticappeal is expected to propel growth of the global skincare devices market overthe forecast period. For instance, according to a 2018 survey by GlobalData,around three quarters of South Korean men undertake a beauty or grooming treatmentat least once a week.
Global Skincare Devices Market:Opportunities
R&D in minimally invasivedevice for wound treatment is expected to offer lucrative growth opportunitiesfor players in the global skincare devices market. For instance, in December2019, Misonix, Inc., a manufacturer of minimally invasive ultrasonic medicaldevices used for precise bone sculpting, removal of soft and hard tumors andtissue debridement, announced publication of two new large real-world studiesproving the clinical effectiveness of its all human split thickness skinallograft TheraSkin for the treatment of complex wounds.
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Global Skincare Devices Market:Restraints
Side effects and limitations ofcryotherapy are expected to hinder growth of the market. Individuals withhypertension, heart disease, seizures, anemia, pregnancy, and claustrophobiaare not advised to use cryotherapy. Redness or skin irritation, an allergicreaction to the cold, frostbite, or skin burns are some of the side effects ofthe procedure.
Key Takeaways:
The global skincare devicesmarket was valued at US$ 11,752.2 Mn in 2019 and is forecast to reach a valueof US$ 25,533.7 Mn by 2027 at a CAGR of 10.2% between 2020 and 2027. Increasingfocus on aesthetic appeal is expected to propel growth of the global skincaredevices market over the forecast period
Cellulite (fat) Reduction segmentheld dominant position in the global skincare devices market in 2019,accounting for 24.7% share in terms of value, followed by hair removal and skintightening & Body Contouring, respectively. Increasing demand for minimallyinvasive procedures is expected to assist the market growth.
Market Trends
Major players in the market arefocused on approval and launch of new technologies to expand their productportfolio. For instance, in October 2019, InMode Ltd. received Health CanadaCertification for AccuTite, a minimally invasive technology that delivers RFheating.
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Major players in the market arealso focused on adopting M&A strategies to expand their product portfolio.For instance, in December 2018, Alma Lasers acquired Medical Nova, an aestheticdistributors of technology-based devices in Israel
Global Skincare Devices Market:Competitive Landscape
Major players operating in theglobal skincare devices market include, Alma Lasers, Ltd., InMode Ltd., Cutera,Inc., Cynosure, Inc., Lumenis, Ltd., Hologic, Inc., Michelson Diagnostics Ltd.,PhotoMedex, Inc., Solta Medical International Inc., and Syneron Medical Ltd.
Global Skincare Devices Market:Key Developments
January 2020: Lumenis Ltd.launched LightSheer Quattro, a laser hair removal platform
2018: Syneron Medical Ltd. received the U.S. FDAclearance for its Vbeam Prima system with an advanced 595nm pulsed dye laserand 1064nm wavelength
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