The global skincare devices market is expected to grow at a CAGR of 10-12% in the next 5 years. The rising demand for anti-aging treatments, growing consumer awareness about skincare, growing disposable income, increasing availability of advanced technologies, and rising demand for non-invasive treatments are some of the key factors driving the skincare device market.
Skincare devices include tools/systems that are designed for the diagnosis or treatment of specific skin concerns to improve overall skin health and appearance. Like other fields, skincare is also experiencing digital transformation with innovative technologies such as artificial intelligence (AI), wearable technology, advanced laser and ultrasound machines, 3D printing, virtual and augmented reality technologies, and nanotechnology. All these advancements help enrich the consumer experience, better analyze skin conditions, improve product efficiency and provide non-invasive options with minimal downtime.
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Rising demand for non-invasive procedures to propel skincare devices market growth
Some of the most common non-surgical procedures performed worldwide include botulinum toxin, hyaluronic acid, hair removal, skin tightening, chemical peel, and non-surgical fat reduction. As per the American Society of Plastic Surgeons (ASPS), in the US, 25 million cosmetic minimally invasive procedures were performed in 2023 compared to 23.6 million in 2022 (7% growth). Overall, the demand for non-invasive procedures is increasing driven by factors such as demand for procedures that cause minimum pain or discomfort, increasing availability of technologically advanced machines, growing awareness of the benefits of non-invasive/minimally invasive procedures, and shorter recovery times over traditional procedures making them more appealing to busy individuals. The growing demand for non-invasive skincare procedures would in turn drive the skincare devices market growth.
Growing consumer awareness about skincare and an uptick in the use of at-home devices further drive market growth
There is a growing emphasis on overall wellness, including maintaining healthy skin. The skincare devices industry has witnessed remarkable growth in recent years with the rising consumers' focus on personal appearance and willingness to invest in skin treatments that promote healthy and radiant skin and target issues such as acne, aging, and pigmentation. Moreover, there is a rise in the uptake of compact devices for home use that target wrinkles, fine lines, and blemishes. Devices like LED masks, microcurrent, and radiofrequency tools that help with collagen production, reducing inflammation, and improving skin texture are gaining popularity for their ability to provide professional-level treatments at home.
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Competitive Landscape Analysis
The global skincare devices market is marked by the presence of established, innovative, and emerging market players such as Alma Lasers, Lumenis, Canfield Scientific, Inc., Cutera, Johnson & Johnson, Cynosure, Solta Medical, Image Derm, Foreo, Aesthetics Biomedical; among others. Some of the key strategies adopted by market players include product innovation and development, and strategic partnerships and collaborations.
About Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.
Contact:
Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
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