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Based on product, the skin tightening market form laser segment was valued at more than USD 220 million in 2022. Laser skin technology offers a broad spectrum of benefits including minimal downtime, and precise medical aesthetic procedures. This technology has a high customer preference owing to the variety of advantages and has attracted significant investments along with R&D activities. For instance, in May 2022, American private equity firm, Clayton, Dubilier & Rice infused USD 60 million in Cynosure, a leading manufacturer of medical aesthetic systems and treatments for plastic surgeons, and dermatologists. The investment is intended to boost innovation in the field of cosmetic procedures.
Skin tightening market size from portable devices is anticipated to witness over 13% CAGR from 2023-2032. Portable devices for skin tightening treatment are gaining significant momentum due to their cost-effectiveness, and ease of use. The majority of these devices feature advanced radio frequency technology that helps reduce sagging in patients and tightens collagen. These devices are also picking pace due to growing customer inclination toward at-home cosmetic procedures and spa services. Favorable initiatives from industry players focusing on the development of portable skin tightening devices with the same power and efficacy as that of stationery counterparts will complement the industry outlook.
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Homecare settings end-use segment is projected to expand at over 13.5% CAGR over the forecast years from 2023-2032. At-home skincare trends and the development of technologically advanced portable devices for skin tightening procedures will foster segment growth. Growing customer preference for skin tightening technologies that are easy to use and minimally complex is further driving the adoption of these systems across homecare settings. In recent years, several clinical trials have been conducted to demonstrate the efficacy of at-home solutions. For instance, according to a new study published in the journal Dermatology and Therapy in May 2022, a home-based radiofrequency beauty device is more effective than most of the commercially available cosmetic alternatives.
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Asia Pacific skin tightening market size is estimated to surpass USD 500 million by 2032. The region is expected to emerge as a potential hub for skin tightening with significant advancements in aesthetic treatments. Cosmetology and skin science experts are increasingly focusing on overcoming the side effects associated with skin tightening while the regional players are working toward reducing procedural costs. Rising disposable income and growing preference for facial appearance among teenagers and the aging population will proliferate the demand for skin tightening services and devices in APAC. Furthermore, considerable growth in medical tourism will enable the expansion of the skin tightening industry across the region.