Basically, skincare devices is expected to witness a market value of US$ 23.8 Billion in 2023 and is expected to accumulate a market value of US$ 101.5 Billion by registering a CAGR of 15.6% in the forecast period 2023 to 2033. The Skincare Devices market registered a CAGR of 10.9% in the historical period 2017 to 2022.
The prevalence of “self care” or the need to look good always has grabbed the attention of beauty industry. An anti-ageing obsessed world it is and hence, witnesses a constant demand for products with a promise to combat all beauty issues.
Similarly, a bunch of skin issues like acne, puffy eyes, dark circles and dark spots are a major concern to the women across the globe. More than anti-ageing and appearance; the millennial care about their skin’s health. Skincare devices are a prime choice to all beauty concerns, a fact reflected in the massive demand for skincare devices. Skincare devices base their foundation over modern technologies and treatment concepts.
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The cosmetic industry demonstrates highly advanced requirements; faster results and more efficient methods are desired. Treatments with skincare devices go beyond the conventional solutions, be it stimulating deep lying muscles, activating metabolic processes, increasing collagen production, removing dirt particles and dead skin cells mechanically, or being able to bring active ingredients deeper into the skin.
The popularization of in-office skincare treatments ranging from laser hair removal to the vampire facial, have all resulted in the creation of more at-home devices for women who want salon-like effect in their own home’s comfort. An at-home alternative to procedures done in a spa or a dermatologist’s office, these skincare devices are helpful in saving time and money by not compromising on the effectiveness, not to mention the convenience they offer.
Trends for Skincare Devices Market
Consumers prefer customization, and the devices that blend on-demand skincare formulas prioritize customization. The skincare arena is fast-evolving and the next generation of skincare technology amalgamates on-demand formulas with customer-specific personalization.
In-store or at-home, the skincare devices implement technology to determine the skincare requisites of consumers. North American skincare devices market is quite diverse and consumers attempt to understand the impacts of the various ingredients and innovations that continuously show up in the industry. The consumers are increasingly opting for brands that focus on their singular needs through customization.
Men and women are equally gaining consciousness over skin health, welcoming diagnostic as well as therapeutic skincare devices. The AI skincare assistant LUMINI from Lululab, scans and analyzes the user’s skin condition within 10 seconds of time. It consequently recommends the user about the most suitable cosmetic products, while quantifying skin condition based on six criteria, including wrinkles, pores, skin trouble, and melasma.
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Opportunities for Skincare Devices Market
Consumers’ skincare device to help them look ever young: anti-ageing wearable. Skincare wearable technology is a massive opportunity or the global skincare devices market to bloom. Companies have identified UV or sun exposure to being prime factors for skin damage, in at least 80% of cases.
Keeping a tab on UV exposure could be fruitful in combating skin issues like ageing and hyper pigmentation. L’Oreal’s My UV Patch is an advanced and accurate sun exposure tracker and anti-ageing wearable. It however, requires to be clicked and uploaded it onto a mobile app to know the level of personal UV exposure, which is presently not the most usability-friendly approach.
Companies are focusing on providing more user compatible solutions and that might boost the global skincare devices market. French startup Feeligreen produces a skin-like patch, DermoPatch, with potential anti-ageing benefits. DermoPatch uses microcurrent technology to actively treat the signs of ageing, and diffuse topical medication and beauty products into the skin.
Challenges for Skincare Devices Market
Interestingly, a couple of devices have been warned again for some without supervision of any kind; this being a challenge with at-home skincare devices and hampering the fast-doubling skincare devices market. For instance, blackhead “pore vacuum” tools can cause inflammation and hyper pigmentation, more so in the darker skin tones.
Chemical peels and facial dermaplaning with the use of blunt eyebrow razors, are procedures generally done in medi-spas with a medical-grade razors. Such DIY treatments may cause irritation and skin sensitization. Since a lot of training goes into the technique involved in chemical peels and dermaplaning, these should be preferably done by professionals like doctors or estheticians.
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Global Skincare Devices Market: Key Players
Some of the key players operating in the global skincare devices market are
- Carol Cole Company Inc.(NuFace)
- DDK DRTV
- LLC (DermaFlash)
- Bausch Health Companies Inc.
- Syneron Medical Ltd.
- Lumenis Ltd.
- FOREO.
The major strategy adopted by the players in the global skincare devices market is research & development and product innovation. The rising mergers & acquisitions and partnerships among companies illustrate the growing stature of the market.
An example of which is Shiseido’s new joint venture with Yaman Co, Effectim Co., established exclusively for skincare and beauty devices. Skin care devices like GloPro, a microneedle for puncturing tiny holes in the skin to stimulate collagen production and increase product absorption, and NuFace, a device that runs an electric current through the facial muscles to provide a lift and toning as well are witnessing triple-digit sales increase in the Covid-19 lockdown.
Skincare Devices Market: Regional Outlook
Global skincare devices market is dominated by North America and the increasing demand for skincare devices is owing to the rising preference for at-home skincare devices and the launch of new products within the industry.
Rising disposable income and increasing awareness among consumers in the developing regions are supposed to accelerate the skincare devices market. Though more types of brushes are trending in the US, France took lead with high interest in facial brushes.
Consumers are on the lookout for support from devices to assist in their beauty routine. The U.S. has its focus around brushing and scrubbing, while consumers in France and Japan are adopting devices that stimulate the skin with suction or massage.
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