Skin care devices are widely used in the area of aesthetics. With consumer awareness, preference for minimally-invasive & non-invasive procedures like skin tightening, skin rejuvenation, & body contouring has grown. Affordability & development of advanced products lead to better adoption. Demand for skin care devices is also fueled by skin disorders (acne, dermatitis, psoriasis) and skin cancers in emerging economies.
The skin care devices market is predicted to rise at a CAGR of 11% from 2014 to 2020 (forecast period). By 2020, its revenues may surpass USD 12.8 billion. Robust demand has prompted established market companies to invest heavily. Expansion in medical tourism, especially in developing nations (India, Brazil), also proves favorable.
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The market can be categorized into products, applications, and regions. Products are split into skin care diagnostic devices and skin care treatment devices. Diagnostic devices are sub-segmented into dermatoscopes, image guidance systems, and biopsy devices. The latter includes lasabrasion devices, liposuction devices, LED therapy devices, cryotherapy devices, microdermabrasion devices, and electrosurgical devices.
Treatment devices also occupied the maximum shares (91%) in 2013. Changing lifestyles and willingness to enhance the beauty of face & body are the key segment propellers. Applications of the skin care devices market comprise skin rejuvenation, hair removal, disease diagnosis & treatment, cellulite reduction, and body contouring & skin tightening.
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Cellulite reduction should grow substantially over the next six years. Its demand is triggered by obesity prevalence, necessitating fat reduction. Innovations like slimming, anti-cellulite, & fat melting oils also boost the application. Body contouring & skin tightening could exhibit the highest CAGR (12%) during 2014 to 2020.
Regions encompass North America, Asia Pacific, Europe, and RoW (Rest of the World). North America dominates the market and held over 44% of the total sales in 2013. Europe has reached saturation. Asia Pacific is anticipated to be the fastest-growing region in the future. Factors contributing to its expansion are improved healthcare, higher preference for aesthetic procedures, and growing disposable incomes.
Leading players in the worldwide skin care devices market comprise Syneron Medical Ltd., Solta Medical Inc., Philips, and Schick Medical. Other important vendors include Alma Lasers Ltd., Lumenis Ltd., and PhotoMedex.
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