The global skincare devices market is estimated to reach US$ 23.8 billion in 2023 and is expected to grow to US$ 101.5 billion by 2033, demonstrating a Compound Annual Growth Rate (CAGR) of 15.6% from 2023 to 2033. Previously, from 2017 to 2022, the market grew at a CAGR of 10.9%.
The growing demand for skin care devices due to the growing disposable income, the standard of living, and electronic goods are enhancing the market share. The increasing number of beauty experts, skin disorders, and end-use industries result in the adoption of skin care devices. Moreover, a few more factors fueling the skin care devices market share, such as the growing demand for spinning discs, non-invasive procedures to speedily regenerate skin cells, and increasing millennial consumers.
Key industry players are offering beauty skincare devices at reasonable prices for daily skin maintenance, which is likely to drive market growth as consumers increasingly turn to these devices to address issues with sensitive, dull, and wrinkled skin.
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In recent years, the rise of the DIY beauty trend has led consumers to forgo visits to clinics, salons, and spas, preferring instead to care for their skin at home. This shift has promoted the use of organic products and advanced devices, further facilitated by the availability of these products on e-commerce platforms. The move towards DIY beauty, which aims to reduce exposure to harsh chemicals and enhance skin health with natural solutions, is boosting the sales of skincare devices significantly.
Skincare companies aim to innovate devices to provide better skin treatment and prevent skin problems to boost market expansion. However, the increasing adoption of skin care devices to treat skin problems such as scabies, warts, fungal infection, and psoriasis also propel market opportunities. The growing number of cosmetic procedures such as skin lightening, tightening, body contouring, and rejuvenation in the cosmetic industry greatly contributes to impelling the skin care devices market growth.
The increasing adoption of skin care devices to maintain daily skincare routine drives the market share. Several top skin care companies are there providing skin care devices to consumers in a kit to maintain healthy and hydrated skin, thus increasing the market opportunities.
Key Takeaways from the Skin Care Devices Market:
- The skin care devices market is expected to have a valuation of US$ 101.5 Billion by 2033.
- With a CAGR of 15.6%, the market for skin care devices is increasing during the forecast period.
- The market in the United States is anticipated to grow at a CAGR of 10.6% through 2033.
- With a CAGR of 13.8%, the UK market is likely to uplift during the forecast period significantly.
- The China market is estimated to grow at a CAGR of 24.4% over the forecast period.
- Acne treatment devices are the global market leader, with a CAGR of 15.9% during the projection period.
- With a CAGR of 16.2% throughout the projection period, the modern trade category dominates the worldwide market.
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Who is winning?
The market is consolidated by the number of present players globally during the forecast period. The players are innovating and launching skincare devices to prevent the skin damage and other issues to attract consumers’ attention and are also advancing the market growth. These players dive deeply into the market and come out with the unique ideas to expand their business.
The prominent vendors are fuelling the market growth by adopting several marketing methodologies such as mergers, collaborations, acquisitions, and partnerships. In the coming years, these players will launch advanced skincare devices which are estimated to bolster the market share.
In 2020, According to a report by the American Society of Plastic Surgeons, nearly 15.6 million people in the US adopted cosmetic procedures whereas, 13.2 million were minimally invasive and 2.3 million were cosmetic surgical procedures.
- Koninklijke Philips N.V.
- Pure Daily Care
- Shenzhen Mareal Technology Co. Ltd.
- L’Oreal SA (ModiFace)
- Nu Skin Enterprises
- Panasonic Corporation
- Syneron Medical Ltd.
- Home Skinovations Ltd.
- TRIA Beauty inc.
- Procter and Gamble
- PhotoMedex Inc.
- Carol Cole Company, Inc.
- Lumenis
- MTG Co. Ltd.
- FOREO
- DD Karma LLC
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Skin Care Devices Market by Category
By Product Type:
- Cleansing Devices
- Anti-aging Devices
- Skin Texture & Tone Enhancement Devices
- Acne Treatment Devices
By End User:
- At-home
- Salon & Spa
By Price Range:
- Economy Below US$ 25
- Mid-range US$ 25-200
- Premium US$ 200 & Above
By Sales Channel:
- Direct Sales
- Modern Trade
- Departmental Stores
- Specialty Stores
- Online Retailers
- Mono Brand Stores
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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