Insights on Global Skincare Devices Market Size, Share, Trends and Future Growth Predictions

ALBANY, USA, 2018-Apr-19 — /EPR Network/ —Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled “Skincare Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.” The report, by Transparency Market Research, predicts that the global skincare devices market stood at US$7.25 bn in 2014 and is predicted to reach US$17.30 bn by 2023, by expanding at a 10.10% CAGR from 2015 to 2023.

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This report commences by presenting the market snapshot for skincare devices. This section includes the definition of skin care devices and the market segmentation. Skincare devices are broadly utilized in aesthetics, which is a branch of philosophy that deals with beauty. These devices are gaining popularity owing to the increasing occurrence of skin-related disorders. The market segmentation section of this report studies the market on the basis of type, application, and geography.

On the basis of type, the report segments the market into diagnostic devices and treatment devices. Diagnostic devices are further segmented into image guidance systems, biopsy devices, and dermatoscopes. On the other hand, treatment devices are further segmented into microdermabrasion, electrosurgical, lasabrasion (laser skin resurfacing), liposuction, LED therapy, and cryotherapy devices. Amongst these, LED therapy devices held the largest share in 2014, while the segment of lasabrasion devices is poised to exhibit the fastest CAGR of 11.0% between 2015 and 2023.

By application, the report segments the market into skin rejuvenation (sun damage, acne, and wrinkles), disease diagnosis and treatment, cellulite reduction, hair removal, skin tightening and body contouring, and damage repair (pigmented lesions, vascular, and tattoo removal). Amongst these, in 2014, the cellulite reduction led the market with a share of 24.3% in the market. On the other hand, skin tightening and contouring is the most rapidly growing segment in the market.

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Next is the market overview section of the report. This section entails the market dynamics such as market drivers, inhibitors, opportunities, and restraints. As per the report, the market for skincare devices is stimulated by the growing inclination of consumers towards non-invasive and minimally invasive procedures. In addition, the increasing healthcare expenditure and the rising aging population globally will also propel the growth of the market. Furthermore, the increasing medical tourism will also have a positive impact on the growth of the market. On the other hand, the rising popularity of a number of alternatives and the soaring prices of skin care equipment are amongst the chief factors that may impede the development of the market in the coming years.

Geographically, the report segments the market into North America, Asia Pacific, Europe, and Rest of the World (RoW). On the basis of revenue, North America led the market in 2014 owing to the presence of major device manufacturers here, while Asia Pacific will emerge as the most swiftly growing region in the forecast horizon.

Cutera, Inc., Alma Lasers Ltd., Cynosure, Inc., Lumenis Ltd., and PhotoMedex, among others are the key players dominant in the market for skincare devices, as per this study.

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