Increasing Preference for Aesthetic procedures will Boost Prospects for Skincare Devices Market

Dermatology refers to diagnosis and treatment of skin abnormalities and disorders. Additionally, skincare devices also comprises various aesthetic applications for cosmetic care and augmentation of skin and body appearance. This report on the global skincare devices analyses the current and future prospects of the market. The report comprises an elaborated executive summary, including a market snapshot that provides overall information of various segments and sub-segments within the global skincare devices market. The research is a robust combination of primary and secondary research. Primary research formed the bulk of our research efforts with information collected from telephonic interviews and interactions via e-mails.

This 103 page report gives readers a comprehensive overview of the Skincare Devices Market. Browse through 10 data tables and 28 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/skincare-devices-market.html

Increasing Incidence of Skin Cancer Boosts Sales of Skincare Devices

As per TMR, the increasing incidence of skin disorders such as skin cancer is expected to fuel demand for skincare devices market. “The rising demand for diagnosis in the form of biopsies and dermatoscopy, and treatment techniques such as light therapy and lasabrasion, the sale of skincare devices is likely to increase the uptake of skincare devices,” said a lead TMR analyst. “The market is also expected to significantly gain from the increasing demand for non-invasive cosmetic procedures,” he added.

Besides this, for simple skin related issues such as wrinkles, appearance of aging lines, and unwanted hair patients are looking for faster solutions with minimal pain, which will also allow them to resume their daily chores at the earliest. This led to the introduction of handheld and smart skincare devices to increase the convenience of treatment providers. These trends are proving conducive to the growth of the skincare devices market.

Rising Healthcare Expenditure to Reflect Positively on Sales Prospects for Skincare Devices

TMR forecasts the healthcare expenditure to significantly rise during the forecast period between 2015 and 2023. With the growth of healthcare expenditure outpacing the rate of population, TMR expects the prospects for skincare devices market to be extremely lucrative during the forecast period. The rising geriatric population is also expected to boost sales of skincare devices globally.

Most importantly, the rising trend of medical tourism and med spas, especially in the emerging economies of Asia Pacific, will provide ample growth opportunities for leading vendors.

However, the presence of a large number of local and established players has rendered the skincare devices market highly competitive. This compels a majority of manufacturers to offer their products at lower price. While such competitive pricing strategies limit the growth of skincare devices market to an extent, lack of transparency in their pricing strategies by suppliers can also go against the market.

Rising Popularity of Substitutes of Skincare Procedures to Negatively Impact Skincare Devices Sales

With substitutes of skincare procedures such as liposuction and light therapy gaining popularity at a rapid pace, the sales of skincare devices are likely to reduce in the near future. The rising usage of cosmeceuticals such as dermal fillers and Botox will also create bottlenecks for the market.

Nevertheless, as per TMR leading vendors can gain from capitalizing on the untapped opportunities in Asia Pacific. Regionally, while North America holds the largest share in the global skincare devices market, Asia Pacific is expected to demonstrate growth at the highest pace during the forecast period.

By application, demand for skincare devices is poised to rise for cellulite reduction and diagnosis of various skin diseases such as psoriasis, skin cancer, warts, fungal infections, and others.

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TMR pegs the global skincare devices market to reach US$17,299.4 mn in 2023, from US$7,255.8 in 2014. The market as per TMR analysis, is expected to surge at a CAGR of 10.1% during the forecast period.

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