Skincare Devices Market Size, Share & Trends Analysis Report By Product, By Application (Disease Diagnosis & Treatment, Hair Removal, Skin Rejuvenation, Cellulite Reduction, Body Contouring), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global skincare devices market size was valued at USD 12.5 billion in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 11.9% from 2022 to 2030. The increasing prevalence of skin cancer and other skin diseases is contributing largely to the high demand for skincare devices. Furthermore, growing awareness among people about the esthetic appeal and technological advancements in skincare devices are also increasing the adoption of these devices significantly. The rise in disposable income is also considered as one of the important factors driving the market.

The prevalence of melanoma and non-melanoma skin cancers is rising significantly. According to The Skin Cancer Foundation, around 10,130 people die due to melanoma every year in the U.S. Furthermore, American Cancer Society 2018 statistics stated that in the U.S., around 91,270 new melanoma cases are expected to be diagnosed in that year. Meanwhile, the American Academy of Dermatology (AAD) estimated that 1 in 3 Americans visit dermatologists, and 1 in every 4 are affected with skin disease every year. Hence, there is a growing need for rapid diagnosis of skin disorders.

The COVID-19 pandemic had significantly affected the market for skincare devices. Initially, the lockdown and supply chain disruption had negatively affected the market. Short-term negative growth was observed in the market due to almost entirely suspension of non-COVID-19 related surgeries, limited operations of manufacturing, and disruption in the supply chain. However, the market for dermatological devices has seen a V shape recovery. With the successful rollout of vaccines in all regions, the volume of dermatological devices is beginning to recover to its pre-pandemic levels. In 2021, the market has witnessed high demand due to the backlog of 2020 and increased interest from people related to dermatological procedures.

The market has witnessed high volatility during the past few months and is expected to return to its normal growth trend by 2023. The market for skincare devices is developing rapidly due to growing esthetic awareness. In the current scenario, people of all age groups are increasingly concerned about enhancing their esthetic appeal. Complete skin rejuvenation improves the esthetic appeal of a person. There has been a latent shift from using conventional products to technologically advanced equipment, which aids in better diagnosis and treatment of various skin diseases as well as improve one’s esthetic appeal. The introduction of technologically advanced noninvasive laser therapies has led to the high demand for skincare devices.

Product Insights

The treatment devices segment held the largest revenue share of about 79.0% in 2021 and is also expected to witness the highest CAGR over the forecast period. This is mainly due to the availability of wide applications of dermatology treatment. In addition, the launch of novel technologies in the laser device category is also attributed to the high segment growth. The low market share for diagnostic devices can be attributable to less awareness level pertaining to the various novel instruments. However, the rising prevalence of skin cancer is anticipated to drive this segment in the future.

Among the treatment devices, the laser segment held the largest revenue share in 2021 and is also expected to show the highest growth over the forecast period owing to its wide adoption. On the other hand, the dermatoscopes segment dominated the diagnostic devices segment in 2021 due to the availability of advanced technologies. A skin cancer diagnosis is anticipated to show significant growth over the forecast period due to the rise in prevalence of the disease and increasing emphasis on early detection. Laser hair removal devices generated the maximum revenue share in 2021 owing to the huge benefits associated with these devices.

Application Insights

The hair removal application segment dominated the market for skincare devices and held the largest revenue share of about 16.0% in 2021. The treatment application segment is bifurcated into hair removal, skin rejuvenation, acne, psoriasis, and tattoo removal, wrinkle removal and skin resurfacing, body contouring and fat removal, cellulite reduction, vascular and pigmented lesion removal, and others. Hair removal devices particularly laser devices have been proved to be safer for all skin tones and hair color and facilitate less painful treatment procedures, thereby propelling the market.

A rise in demand for cosmetic laser treatments like tattoo removal, skin resurfacing and skin tightening has significantly increased the adoption of dermatology devices. According to the International Society of Aesthetic Plastic Surgery, treatments like non-invasive fat reduction witnessed a 21.1% increase, laser hair removal witnessed a 76.1% increase and Photo Rejuvenation saw a 32.3% increase in 2020 as compared to 2019. This indicates that the demand for aesthetic treatments are increasing and this will directly impact the adoption of technologically advanced and efficient dermatology devices

End-use Insights

The hospital segment dominated the market and held the largest revenue share of about 48.0% in 2021 owing to the presence of advanced skincare equipment in hospital settings. In addition, the availability of wide treatment options in such facilities has also increased the number of visits for skin disease diagnosis and treatments in these facilities. With the need for specialized dermatology treatments, patients tend to visit specialty dermatology clinics for rapid and effective service, which has led to the high growth of the clinic segment. Moreover, the global rise in the prevalence of skin cancer and melanoma coupled with an increasing number of clinics offering dermatology services has led to an increase in the number of patients visiting dermatology clinics for treatment and care.

The clinics segment is anticipated to witness the highest CAGR over the forecast period owing to rising demand for various skincare-related services. Dermatology clinics are cosmetic and medical facilities that focus on the diagnosis and treatment of skin conditions. In dermatology clinics, both surgical and nonsurgical services are offered by certified plastic surgeons. According to TripleTree, as of 2020, there were 9,000 dermatology practices and 14,000 dermatologists in the U.S. Among the total number of practices, 34.0% were solo practices and 48.0% practices included three or more physicians.

Regional Insights

North America dominated the skincare devices market and accounted for the largest revenue share of 43.0% in 2021. The increasing prevalence of skin cancer and other skin diseases 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. According to CDC, Acne vulgaris affects 80% of the U.S. population at some time during their lives 20% of which suffer from severe acne, which can result in permanent physical and mental scarring.

In Asia Pacific, the market is expected to witness significant growth over the forecast period owing to the growth of medical tourism in the region. In addition, the availability of affordable treatment options is also expected to propel market growth. An increase in the number of major multinational companies investing in research and development in the region has proved to be a major factor driving the growth of the industry in the region. Moreover, rising beauty consciousness amongst men and women is anticipated to drive the regional market.

Key Companies & Market Size Insights

The key companies are concentrating on strategic initiatives such as mergers and acquisitions, new product development, and geographical expansions. In November 2021, Lancer Skincare the premier Beverly Hills-based international skincare brand teamed up with the tech startup ByondXR to launch The Virtual Lancer Dermatology Shop. Lancer Skincare's new virtual store will provide customers with the in-home benefits of a Lancer dermatology practice through a curated, digital experience that moves across the newly growing digitized world. Some of the prominent players in the skincare devices market include:

• Alma Lasers GmbH

• Cynosure, Inc.

• Solta Medical, Inc.

• Cutera, Inc.

• Syneron Medical Ltd.

• Canfield Scientific, Inc.

• 3Gen

• Aesthetic Group

• Ambicare Health

• Image Derm, Inc.

Skincare Devices Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global skincare devices market report on the basis of product, application, end-use, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Diagnostic Devices

    • Dermatoscopes

    • Microscopes

    • Other Imaging Devices

    • Biopsy Devices

  • Treatment Devices

    • Light Therapy Devices

    • Lasers

    • Electrosurgical Equipment

    • Liposuction Devices

    • Microdermabrasion Devices

    • Cryotherapy Devices

•  Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Diagnostic Devices

    • Skin Cancer Diagnosis

    • Other

  • Treatment Devices

    • Hair Removal

    • Skin Rejuvenation

    • Acne, Psoriasis, and Tattoo Removal

    • Wrinkle Removal and Skin Resurfacing

    • Body Contouring and Fat Removal

    • Cellulite Reduction

    • Vascular and Pigmented Lesion Removal

    • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Clinics

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Netherlands

    • Belgium

    • Switzerland

  • Asia Pacific

    • Japan

    • China

    • India

    • Thailand

    • South Korea

    • Indonesia

    • Singapore

    • Malaysia

    • Australia

    • Philippines

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

    • Chile

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE

    • Israel

    • Turkey