Market Research Industry Today
Demand for Skincare Devices to ride on Popularity of Beauty Gadgets in Disease Diagnosis and Treatment
Skincare devices market is expected to rise at an optimistic CAGR of 10.1% within a forecast period from 2015 to 2023. The market was valued at US$7.25 bn in 2014 and is expected to reach US$17.29 bn by the end of 2023.
Published 08 March 2018
Consumer electronics has made inroads into every facets of our lifestyle and is gradually but steadily making a mark in the global cosmetics industry. The culmination of technology and beauty is riding on the waves shaped by the giant strides experienced by the industry in recent decades. In various parts of the world, skin care tools and devices are soaring in popularity not only as skin care products but also for treating a variety of skin disorders. In recent years, the beauty and personal care segment has witnessed an exciting array of diagnostics and treatment devices such as laser skin resurfacing, liposuction, and microdermabrasion. In recent years, skincare devices are increasingly gaining significance in the treatment of certain skin cancer types. The proliferation of apps is further expected to boost the skincare devices market.
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The rising prevalence of skin cancer among worldwide populations, coupled with the rising recognition of the potential of skincare devices as treatment modalities, will continue to reflect positively on the demand. With wide attractive avenue in the offing, the global skincare devices market is projected to reach a worth of US$17.29 bn by 2023 end, expanding at a steady CAGR of 10.1% during 2015–2023, according to estimates by Transparency Market Research (TMR).
Skin Inc., a Singapore-based skincare products company, focused on customizable solutions announced in March 2018 that it is bolstering its e-commerce operations, in a move to consolidate its geographic presence. The company hopes to capitalize on omnichannel platform by providing advanced skincare devices to meet different skincare needs. Such developments are likely to create global opportunities in the market.
Will the rising need for cellulite removal treatments among women bolster the uptake of skincare devices?
The various applications for which skincare devices are used can be broadly categorized into disease diagnosis and treatment, hair removal, cellulite reduction, skin rejuvenation, body contouring and skin tightening and damage repair, including tattoo removal. Of these, skincare devices are staging a vastly rising demand for treating cellulite, especially among women populations. A favorable demographics attributed to the rising incidence of cellulite conditions prevalence among female populations is constantly fueling the uptake of skincare devices. With global populations looking for potential fix to these conditions, the demand for skincare devices is likely to get an attractive boost.
Apart from the use in cellulite removal, skincare devices are finding potential demand for diagnosing and prevention of psoriasis, skin cancers, warts, and fungal infections. The growing number of regulatory approvals of at-home devices is a noteworthy trend catalyzing the application of these skincare devices.
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Which factors contribute to substantial demand for skincare gadgets in the economies of North America?
On a geographical front, the key regional markets for skincare gadgets comprise Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Of these, North America led the pack in 2014, accounting for close to half of the global share of the market. According to TMR, the regional market is prognosticated to rise at a CAGR of 9.92% in between the assessment period of 2015 to 2023. Several factors account for the dominance. The significant baby boom in recent decades in various economies of North America is a striking factor supporting the substantial demand for skincare devices. Holding a sizeable stake in the economy of the nations in North America, the fast aging cohort of baby boomers accounts for a noteworthy share of the global demand for skincare devices. Reiterating concerns of skin problems among elderly populations, in the backdrop of rising pollution, have led to the soaring spending on cosmetic products among this cohort of population.
Meanwhile, Asia Pacific is emerging at a prominent pace over the forecast period, clocking a robust CAGR of 11.78% therein. The growth of the regional market rides on the back of the striking rise in discretionary spending on innovative skincare products. A number of regional and global players are increasingly tapping into promisingly opportunities emanating from large unmet needs of populations across the region.
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About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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Albany, NY 12207
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Website: https://www.transparencymarketresearch.com
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The rising prevalence of skin cancer among worldwide populations, coupled with the rising recognition of the potential of skincare devices as treatment modalities, will continue to reflect positively on the demand. With wide attractive avenue in the offing, the global skincare devices market is projected to reach a worth of US$17.29 bn by 2023 end, expanding at a steady CAGR of 10.1% during 2015–2023, according to estimates by Transparency Market Research (TMR).
Skin Inc., a Singapore-based skincare products company, focused on customizable solutions announced in March 2018 that it is bolstering its e-commerce operations, in a move to consolidate its geographic presence. The company hopes to capitalize on omnichannel platform by providing advanced skincare devices to meet different skincare needs. Such developments are likely to create global opportunities in the market.
Will the rising need for cellulite removal treatments among women bolster the uptake of skincare devices?
The various applications for which skincare devices are used can be broadly categorized into disease diagnosis and treatment, hair removal, cellulite reduction, skin rejuvenation, body contouring and skin tightening and damage repair, including tattoo removal. Of these, skincare devices are staging a vastly rising demand for treating cellulite, especially among women populations. A favorable demographics attributed to the rising incidence of cellulite conditions prevalence among female populations is constantly fueling the uptake of skincare devices. With global populations looking for potential fix to these conditions, the demand for skincare devices is likely to get an attractive boost.
Apart from the use in cellulite removal, skincare devices are finding potential demand for diagnosing and prevention of psoriasis, skin cancers, warts, and fungal infections. The growing number of regulatory approvals of at-home devices is a noteworthy trend catalyzing the application of these skincare devices.
Get Report Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1244
Which factors contribute to substantial demand for skincare gadgets in the economies of North America?
On a geographical front, the key regional markets for skincare gadgets comprise Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Of these, North America led the pack in 2014, accounting for close to half of the global share of the market. According to TMR, the regional market is prognosticated to rise at a CAGR of 9.92% in between the assessment period of 2015 to 2023. Several factors account for the dominance. The significant baby boom in recent decades in various economies of North America is a striking factor supporting the substantial demand for skincare devices. Holding a sizeable stake in the economy of the nations in North America, the fast aging cohort of baby boomers accounts for a noteworthy share of the global demand for skincare devices. Reiterating concerns of skin problems among elderly populations, in the backdrop of rising pollution, have led to the soaring spending on cosmetic products among this cohort of population.
Meanwhile, Asia Pacific is emerging at a prominent pace over the forecast period, clocking a robust CAGR of 11.78% therein. The growth of the regional market rides on the back of the striking rise in discretionary spending on innovative skincare products. A number of regional and global players are increasingly tapping into promisingly opportunities emanating from large unmet needs of populations across the region.
Enquiry for discount on this report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=1244
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
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