Sales of skincare devices were valued at US$ 12 Bn in 2021, and are expected to gather momentum, reaching US$ 14 Bn by the end of 2022. Furthermore, the market is forecast to expand 3.1x to be valued at US$ 43.48 Bn in 2032.
The growing incidences of skin diseases and skin cancer are the key factors propelling the market during the forecast period. As per the American Cancer Society’s estimates, in 2022, about 99,780 new melanomas will be diagnosed amongst men and women, and about 7,650 are expected to die. The lifetime risk of getting melanoma is about 2.6% for whites.
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Competitive Landscape
Key players of the global skincare devices market adopt various tactics to enhance their customer base. Acquisition, partnership, and collaboration are some of the methods adopted by the vendors to strengthen their position in the market. Some of the developments among the key players are:
- In August 2020, Shiseido inked an agreement to enter into a Joint Venture with Ya-Man Ltd. The new company, called Effectim Co began the operations in October 2020 and owned 65:35 in favor of Shiseido.
- In November 2021, Lancer Skincare joined hands with the tech startup ByondXR and launched The Virtual Lancer Dermatology Shop. The new virtual store will offer in-home benefits of Lancer dermatology through a digital platform.
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Key Segments Covered in the Skincare Devices Market Report
· By Product :
-
- Diagnostic Devices
- Dermatoscopes
- Microscopes
- Biopsy Devices
- Other Imaging Devices
- Treatment Devices
- Light Therapy Devices
- Lasers
- Electrosurgical Equipment
- Liposuction Devices
- Microdermabrasion Devices
- Cryotherapy Devices
- Diagnostic Devices
· By Application :
-
- Diagnostic Devices
- Skin Cancer Diagnosis
- Other Skincare Diagnostic Devices
- Skincare Treatment Devices
- Skincare Devices for Hair Removal
- Skincare Devices for Skin Rejuvenation
- Skincare Devices for Acne, Psoriasis & Tattoo Removal
- Skincare Devices for Wrinkle Removal and Skin Resurfacing
- Skincare Devices for Body Contouring and Fat Removal
- Skincare Devices for Cellulite Reduction
- Skincare Devices for Vascular and Pigmented Lesion Removal
- Other Skincare Treatment Devices
- Diagnostic Devices
· By End Use :
-
- Skincare Devices for Hospitals
- Skincare Devices for Clinics
- Skincare Devices for Other End Uses
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