The growing prevalence of skin diseases is pushing up the demand for skincare devices across the world. As per the World Health Organization (WHO), nearly 132,000 people are diagnosed with melanoma all over the world every year. Furthermore, the organization reported that non-melanoma skin cancer affects between 2 and 3 million people around the world every year. Some of the major reasons behind the high incidence of skin diseases are excessive tobacco and alcohol consumption, anxiety, and stress.
The rising prevalence of skin cancer and various skin problems is also causing a sharp surge in the sales of skin devices across the globe. Besides this, the soaring population of geriatric people is also propelling the global demand for skincare devices. This is because dryness, skin sagging, pigmentary alteration, and wrinkles are highly prevalent among old people, on account of the reduced glandular and vascular network in their skin layers and the loss of fibrous tissue in their skin.
For example, Lumenis Ltd. launched Legend Pro+, which is a new face and body platform that provides long-term efficacy, minimal pain, and immediate results without any requirement for anesthesia. Due to these factors, the global skincare devices market is demonstrating rapid advancement. The valuation of the market is predicted to rise from $9,531.9 million in 2019 to $28,157.2 million by 2030. Furthermore, the market is predicted to progress at a CAGR of 11.0% between 2020 and 2030.
Additionally, with rapid expansion in the global e-commerce industry, laser hair removal products for home usage are easily available via various online portals. Geographically, the North American skincare devices market recorded the highest growth in the past, due to the presence of a large population and the high incidence of skin problems in the region. In the future, the market will exhibit the fastest growth in Asia-Pacific (APAC), as per the estimates of the market research company, P&S Intelligence.
Access Report Summary – Skincare Devices Market Growth Forecast Research Report
This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings