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Skin Care Devices Market size reached an estimated USD 20.90 billion in 2022. Driven by the growing awareness of skin care, the industry is poised to exhibit over 12.8% CAGR between 2023 and 2032.
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The high demand for skin care equipment is largely driven by healthcare applications owing to the growth of skin cancer and other skin conditions. Additionally, a significant rise in the adoption of these devices is being attributed to rising public awareness of the aesthetic value of skincare products and technological advancements in the field. Further, an increase in disposable income is one of the key elements influencing the industry.
Report Coverage | Details |
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Base Year: | 2022 |
Market Size in 2022: | USD 20.90 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 12.8% |
2032 Value Projection: | USD 69.71 Billion |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 300 |
Tables, Charts & Figures: | 163 |
Segments covered: | Product, End-user, By Type, By Distribution Channel, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Due to rising aesthetic awareness, the market for skincare gadgets is expanding quickly. In the contemporary environment, people of all ages are becoming more and more concerned with improving their aesthetic attractiveness. Complete skin renewal enhances a person's aesthetic appeal. Utilizing technologically advanced equipment helps with better diagnosis and treatment of various skin diseases as well as enhances one's aesthetic appeal, so there has been a latent shift away from using conventional products. The introduction of noninvasive, cutting-edge laser therapy has increased the demand for skincare equipment.
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Skin conditions like acne, pigmentation, and photoaging are more common due to increased exposure to sunlight and pollution. A greater understanding of the availability of diverse aesthetic devices among consumers, thus it will augment business demand. Further, age-related changes include dryness, wrinkles, and discoloration propelling the skin care device’s demand.
The rise of the industry in the region has been significantly attributed to an increase in the number of large multinational corporations engaging in research and development there. Furthermore, it is anticipated that the regional skin care devices market will be driven by rising beauty consciousness among both men and women. The market's dynamics are changing due to firms' increased focus on the design and development of efficient skincare products. This has an impact on both the range of cosmetic operations that are feasible as well as the market's revenue opportunity.
In the modern world, spas and beauty salons are growing in popularity as individuals look for healthy alternatives to reduce stress from their busy lifestyles. Men's and women's beauty and personal care services and goods are available at spas and beauty salons. Another element influencing the market growth is the guidance and information provided by spa practitioners and beauticians at spas and beauty salons.
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Increasing popularity due to the easy availability of an assortment of consumer goods under one roof, parking space, and convenient working hours. Further, urbanization, growth in the working-class population, and competitive pricing have fueled the attraction of hypermarkets in both developed and emerging nations.
The increasing prevalence of skin cancer and other skin diseases such as acne, eczema, and rosacea and the increasing adoption of cosmetic procedures are some of the major factors contributing to the growth of the skin care devices market in Europe. The availability of affordable treatment options is also anticipated to fuel market expansion. One of the main factors fueling the expansion of the industry in the region has been the rise in the number of large multinational corporations engaging in research and development there. Additionally, it is anticipated that rising beauty consciousness among both men and women will propel the market.
Alma Lasers GmbH, Cynosure, Inc., 3Gen, Aesthetic Group, Ambicare Health, Fotona, Canfield Scientific, Inc., Cutera Inc., Image Derm Inc, Syneron Medical Ltd, Nu Skin, Silkn, Curallux LLC., Conair Corporation, Termosalud
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