05.28.22
The skincare treatment devices market is projected to reach $23,378.96 million by 2028 from $10,898.26 million in 2021 and estimated to grow at a CAGR of 11.5% during 2021-2028, according to a report from ResearchAndMarkets.
The rising prevalence of skin disorders, a growing beauty industry, and increasing demand for aesthetics are creating the need for skincare treatment devices. Manufacturers are constantly working to develop new products and innovations to cater to such demand from a large population.
The increase in strategic collaborations among various market players is leading to the development of new products with combined technology, thereby accelerating the growth of the skincare devices market.
Minimally and Non-Invasive Beauty Treatments
Along with product launches, the increasing demand for minimally and non-invasive beauty treatments is driving the skincare treatment devices market.
There has been an increase in technology integration such as ultrasonic technology, radiofrequency, microcurrent and artificial intelligence (AI) in various recently-launched products. For instance, in August 2020, Lumenis Ltd. announced the latest innovation, the NuEra Tight with FocalRF technology.
The platform introduces a breakthrough in personalized non-invasive RF body treatments to match the unique needs of every patient. NuEra Tight with FocalRF technology was developed to provide tailored body treatments to a patient's distinctive needs. The new technology gives practitioners advanced tools for today's aesthetic patients, accounting for clinical indications and specific body areas, all in one device.
An increase in R&D activities and a rise in investments by market players in the development and innovation of advanced skincare treatment devices are expected to promote market growth. As such, an increase in strategic collaborations among market players allows the use of other resources in terms of technology and research, leading to the development of new products.
The global skincare treatment devices market is segmented based on product, application, distribution channel and end user. The skincare treatment devices market based on product is segmented into light/LED therapy and photo rejuvenation device, liposuction devices, microdermabrasion devices, laser-based devices and cryotherapy devices.
The laser-based devices segment held the largest market share in 2021 and is anticipated to register the highest CAGR in the market during the forecast period due to the increasing number of cosmetic surgeries and the usage of medical lasers in these surgeries.
Based on application, the skincare treatment devices market is segmented into cellulite reduction, hair removal, skin rejuvenation, skin tightening and body contouring, among others. The hair removal segment held the largest share of the market in 2021. In addition, the skin tightening and body contouring segment is estimated to register the highest CAGR in the market during the forecast period.
Based on the distribution channel, the skincare treatment devices market is segmented into online retails, specialty stores, supermarkets/hypermarkets and others. The specialty stores segment held the largest share of the market in 2021. The online retails segment is estimated to register the highest CAGR in the market during the forecast period.
Based on end user, the skincare treatment devices market is segmented into dermatology clinics, hospitals, spas and beauty salons, to name a few. The dermatology clinics segment held the largest share of the market in 2021, whereas the hospitals segment is estimated to register the highest CAGR in the market during the forecast period.