Skincare Devices Market by Top Key Manufacturers, Types, Regions and Application and Demand Forecast to 2023

The prosperity of the skincare devices market is driven by the growing prevalence of skin cancer and other skin-related issues, technological developments in skincare devices, rising disposable income, and surging geriatric population. In 2017, the market generated a $7,787.4 million revenue, and it is predicted to attain a size of over $14,600.0 million by 2023, progressing at an 11.2% CAGR during the forecast period (2018–2023). Skincare devices are medical equipment or devices used for the diagnosis and treatment of skin-related disorders, such as acne, abnormal pigmentation, and eczema.

On the basis of application, the skincare devices market is broadly categorized into cellulite reduction, hair removal, and skin tightening & body contouring. Out of these, in 2017, the cellulite reduction category led the market in terms of revenue, and it is expected to continue leading it during the forecast period, owing to the high amount of cellulite in post-pubertal female patients of all races and the surging aging population.

As per the World Health Organization, nearly 132,000 cases of melanoma and 2–3 million cases of non-melanoma skin cancer are registered every year, worldwide. According to the Skin Cancer Foundation, it is possible that one in every five Americans will face skin cancer in their lifetime. Some of the major reasons behind such disorders are anxiety, stress, alcohol and tobacco consumption, and unhygienic environmental conditions. Owing to the rising incidence of skin cancer cases, the demand for skincare devices is expected to accelerate, thereby resulting in the growth of the skincare devices market.

Technological advancements in skincare devices play an important role as they finally help in the improvement of human skin features. Upgraded devices can effectively treat wrinkles, fine lines, and sun spots. Due to the benefits of these devices, such as non-invasiveness and workability on energy-based solutions, these are widely being adopted in clinics and hospitals and many others being introduced to treat stretch marks and wrinkles. For instance, in February 2017, Clarisonic Inc. launched the Smart Profile Uplift device for firming and cleansing massages to reduce aging signs on the neck and face.

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