Skin Tightening Market worth over $990mn by 2026
Published Date: December 17, 2020 Authors: Sumant Ugalmugle, Rupali Swain
Skin Tightening Market size is set to surpass USD 990 million by 2026; according to a new research report by Global Market Insights, Inc.
Increasing aging population base along with rising healthcare spending for skin tightening treatment will accelerate the market growth for skin tightening. Saggy skin along with wrinkles and fine lines is an age-related concern for several individuals. Novel treatments and non-invasive surgical procedures for tightening skin, smoothing wrinkles, and improving one’s complexion offers several people younger-looking skin.
Increasing preference towards non-invasive surgical procedures will foster the market expansion
The rising demand for non-invasive skin tightening procedures will spur the overall market progression. Advanced technology enables the face skin to be lifted and tightened without surgery. Such techniques are non-invasive and does not require significant recovery period. For instance, BodyTite and FaceTite are non-invasive alternatives to traditional surgery. BodyTite and FaceTite procedures are best suited for people with moderate to mild loose skin and fat. Radiofrequency skin tightening devices majorly perform non-invasive surgical procedures and can precisely control the skin temperature delivered and ensures no injuries occurs to skin. Similarly, these non-invasive surgical procedures are associated with low-risk and minimal downtime. In today's society the desire to maintain a youthful appearance is driving the innovation in non-invasive aesthetic procedures that are designed to rejuvenate the ageing face.
Rising advancements in ultrasound skin tightening devices will accelerate the market revenue
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The ultrasound skin tightening device segment valued at USD 170 million in 2019. The ultrasound skin tightening device offers safety, convenience, and has non-invasive skin tightening ability that will fuel the industry growth. This product is also ideal for those individuals that are unable to undergo cosmetic surgery or are considered unsuitable for invasive skin rejuvenation procedures. The most widely known ultrasound skin tightening system is the Ulthera System and has received the U.S. FDA approval and Therapeutic Goods Administration (TGA) approval in Australia. Additionally, ultrasound therapy is effective and safe in improving contour and texture of knees, upper arms, and mid-thighs.
Browse key industry insights spread across 130 pages with 175 market data tables & 08 figures & charts from the report, “Skin Tightening Market Size Product Type (Ultrasound Skin Tightening, Radio Frequency Skin Tightening, Laser Skin Tightening), By Portability (Portable, Standalone), By End-use (Dermatology Centers, Hospitals, Homecare Settings), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing capabilities of standalone skin tightening devices will favor the overall market expansion
The standalone segment is expected to witness around 10.5% growth rate till 2026. Integrated functionalities and low downtime in standalone skin tightening devices propels the market value. Standalone skin tightening devices enable treatments that can be performed in hospitals or small clinics within an hour or less, impelling its preference among individuals. Also, several standalone tightening devices has feature to check the temperature of skin during procedure. This feature ensures to prevent individuals from getting skin burns that will boost the industry demand.
Hospitals will hold substantial revenue share
The hospitals end-use segment accounted for 30% of the skin tightening market share in 2019. Availability of comprehensive and practical information on the care and treatment of skin disorders will impact the segment growth. In addition, availability of well-developed infrastructure and skilled healthcare professionals in hospitals will further foster the industry value. Similarly, developed public healthcare system in several high-income countries, worldwide, ensures availability of superior quality skin tightening devices in hospitals that will spur the segment expansion over the forecast timeframe.
Rising demand for technologically advanced skin tightening devices in the European region
Europe skin tightening market size was USD 134 million in 2019 owing to growing usage of skin tightening device for young look combined with increased spending on skin tightening therapy. Increasing health awareness regarding skin problems and rising preference towards non-invasive surgical procedures will favor its market demand. Growing geriatric population and increasing people’s desire to look young, mainly influenced by social media, will augment the regional growth. Also, surging number of local manufacturers in the European region that develop and promote skin tightening devices will drive the industry expansion.
Strategic implementation by leading companies will boost the market growth
Some of the prominent players operating in the market are Beijing HONKON Technologies, SharpLight Technologies, Cynosure (Hologic), Solta Medical (BAUSCH HEALTH COMPANIES), Allergan (Abbvie), Venus Concept, Lynton Lasers Ltd, Alma Lasers (Sisram), Project E Beauty and Cutera. The market participants are involved into several strategic agreements such as mergers, collaborations and novel product launch to gain significant market shares.