The skincare devices market is expected to witness a CAGR of around 13% during the forecast period. Skin is the outer covering of the human or animal's body. It is the largest organ in the body and performs a variety of functions, including protecting us from bacteria and other hazardous materials, providing heat and cold sensations, and controlling our body temperatures.
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The major key factors such as the increasing prevalence of skin cancer & other skin-related diseases like dermatitis, acne, and psoriasis, as well as anomalies of the skin such as moles, warts, and lesions. These factors are further propelling the growth of the market during the forecast period. For instance, as per WHO, around 324,635 new cancer cases were diagnosed in 2020.
Additionally, technological advancements in these highly effective devices and rising consumer preference for them because of their non-invasive procedures. The market for skincare devices will expand in the future because of the growing demand for aesthetic procedures like liposuction, body contouring, skin tightening, and skin rejuvenation.
Based on application, the market is categorized into hair removal, skin tightening & body contouring, cellulite reduction, disease diagnosis & treatment, and skin rejuvenation. Among these, hair removal to hold a significant share of the market in 2020. This is mainly due to the rise in beauty consciousness, the customer shift towards aesthetic beauty, rising concerns related to injuries in the traditional methods that are also not a permanent solution, and the ease in the availability of the treatment. Furthermore, increasing awareness regarding advancements in laser technology coupled with celebrities’ endorsements is also expected to boost the market growth over the forecast period.
Based on the end-user, the skincare devices market has been classified into dermatology clinics, hospitals, and spas & salons. The dermatology clinics category is to witness a significant growth rate in the skincare devices market during the forecast period. This is mainly due to the increasingly large number of cosmetic procedures and a robust number of aesthetic procedures such as facial injectables performed in hospitals. Furthermore, the rising number of rhinoplasties, sagging skin, cheek depression, dentistry, and reconstructive surgery is also contributing to the growth of this market.
North America to witness extensive growth
For a better understanding of the market adoption of the skincare devices industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period owing to a rise in medical tourism, the rising prevalence of skin cancer and other skin disorders such as acne, eczema, and rosacea, and the increasing adoption of cosmetic procedures are some of the major factors contributing to the growth of the market in this region. Also, the growing technological advancements in aesthetic surgical procedures, the presence of key market players, the increasing geriatric population, and the growing demand for non-invasive aesthetic procedures are the key factors for the growth of this market in the region.
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“Global Skincare Devices Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
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The global Skincare Devices Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Skincare Devices include Alma Lasers, Cutera Inc., Michelson Diagnostics Ltd., Cynosure Inc., Lumenis Ltd., Solta Medical, Inc., Palomar Medical Technologies, Syneron Medical Ltd., and Photomedex Inc..
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Skincare Devices Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/skincare-devices-market/download-sampleMarket SegmentationThe broad Skincare Devices has been sub-grouped into the Type, Application and Region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
The skincare devices market size is projected to cross $14.6 billion by 2023, growing at a CAGR of 11.2% during 2017-2023.
The products used in the skincare devices market have been categorized as skin treatment devices and skin diagnostic devices.
This rising demand for skincare diagnostic devices can be attributed to the increasing prevalence of skin diseases, especially skin cancer, the diagnosis of which requires the use of these devices.Download Report Sample at: https://www.psmarketresearch.com/market-analysis/skin-care-devices-market/report-sampleTechnological advancements in the skincare devices and treatments ultimately help in the enhancement of human skin features.
These technologically advanced devices can more effectively treat fine lines, wrinkles, sun spots, and cellulite to enhance skin appearance.
Some of the advantages of these devices include non-invasiveness, and workability on energy-based solutions.
Due to these advantages, the adoption of such devices in hospitals and clinics to treat wrinkles and stretch marks has increased.
