Benefits offered in Diagnosis and Treatment of Skin Diseases to Boost Skincare Devices Market

The global skincare devices market is thriving and it is no surprise that a growing demand for med spas is significantly driving the demand for skincare devices in the global market. For a large part of the global population, a considerably high demand for range of cosmetic care services for enhancing the appearance of skin and body has been observed. People in general are becoming more concerned about their appearance, a trend attracting both leading and budding vendors in market alike to capitalize on the growing demand for skin care products and services. Skin care devices are noted to have a spectrum of aesthetic applications across cosmetic procedures such as skin tightening, liposuction, skin rejuvenation, and body contouring. The desire to remain fit and youthful for a long time has bolstered the overall demand from the global skincare devices market.

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A recent report published by a leading market intelligence firm forecasts remarkable growth for the global skincare devices market. According to the findings of the report, the report is projected to reach a value of US$10.7 billion by the end of 2018, growing at an impressive CAGR of 10.1% between 2012 and 2018. 

Increased Aesthetic Applications for Diagnosis of Skin Diseases to Drive Demand 

A number of factors have contributed to the consistent increase in demand for skincare devices in the global market. The benefits of using these devices in the diagnosis and treatment of various skin diseases and conditions have created a niche market for these products worldwide. Skincare devices such as dermatoscopes, image guidance systems, and biopsy devices are increasingly in demand worldwide, since they facilitate the diagnosis of skin lesions feared to be cancerous in nature. There is a wide range of skincare devices used to treat specific skin disorders and indications such as skin ageing, cellulite reduction, spider veins, wrinkles, and vascular lesions. Increasing demand for skincare devices from dermatologists, beauty spas, and professional aestheticians has also contributed significantly to the expansion of the market globally.Furthermore, the availability of innovative treatment procedures offered for attractive packages by leading vendors will bolster the uptake of these new-age treatment procedures, directly corresponding to the expansion of the market. 

Rising Popularity of Substitute Products to Inhibit Market Growth

Despite registering a strong demand globally, the market for skincare devices will face competition from herbal procedures and other substitutes. The competitive pricing of herbal and ayurvedic products might hamper the growth in the global skincare devices market. However, the vendors could explore the untapped markets across emerging economies and capitalize on the unmet medical needs of these regions to realize their lost momentum.

North America and Asia to Register Maximum Demand for Skincare Devices

North America boasts a growing population in the high-income group. A considerable rise in demand for aesthetic skin care services among this very group has made North America the largest market for skincare devices globally. On the basis of revenue, North America is predicted to account for over 40% of the overall market share in the forthcoming years. 

Rise in demand for laser-based treatment procedures in the Asia Pacific market is expected to drive the demand for lasabration technology in the forthcoming years. The increase in the average disposable income of the middle class population in Asia Pacific and the rising demand for tattoo inking, tattoo removal, and anti-aging procedures in the region is expected to increase the demand for skincare devices in the region. Among the numerous types of skin treatment procedures, the method of fractional CO2 lasers is anticipated to register the fastest growth owing to their utility across a variety of applications such as wrinkle removal, scar and spot, reduction etc. 

The competitive landscape of the skincare devices market shows cutthroat competition among a number of manufacturers. Some of the leading vendors in the market are Solta Medical Inc., Syneron Medical Ltd., PhotoMedex Inc., Cutera Inc., Cynosure Inc., and Lumenis Ltd.

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