Published on : Apr 25, 2016
The global market for skincare devices has been experiencing a remarkable rise since the past few years. The increasing incidence of skin disorders and allergies such as acne, blisters, pimples, and rashes have fueled the demand for skincare devices across the world. Apart from this, the technical advancement in the field of skincare devices, coupled with the rising expenditure on healthcare, increasing medical tourism, and the rapid growth in the global base of geriatric population, is also expected to stimulate the worldwide skincare devices market in the coming years.
North America to Lead Global Skincare Devices Market
North America has acquired the leading position in the global skincare devices market since the last few years. In 2014, the regional market stood at US$3.2 bn in terms of revenue. The presence of a large pool of skincare devices manufacturers in this region, together with the increased spending power of consumers is likely to drive the North America skincare devices market over the next few years, ensuring the dominance of this regional market in near future.
Asia Pacific to Register Fastest Growth Rate in Nearing Future
Other regional markets for skincare devices, namely Europe, Latin America, Asia Pacific, and the Middle East and Africa are also expected to exhibit healthy growth over the next few years. Asia Pacific, particularly, is projected to report the fastest growth rate in the coming years, owing to the availability of a large base of the population as well as a hugely untapped market. The increasing uptake of minimally invasive procedures is also anticipated to boost the Asia Pacific market for skincare devices in the nearing future.
The worldwide market for skincare devices is extremely fragmented in nature. GE Healthcare, Photomedex Inc., Solta Medical Inc., Lumenis Ltd., Syneron Medical Ltd., Human med AG, Cynosure Inc., Michelson Diagnostics, Cutera Inc., and Alma Lasers Inc. are the key manufacturers of skincare devices in the global market.