Global Skincare Devices Market – Analysis and Forecast (2018-2024)

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Global skincare devices market

Industries Overview Skincare devices are used for the diagnosis and treatment of skin ailments. Global skincare devices market was valued at USD 8.2 billion in 2017. Different types of diagnostic and treatment devices contributed to the skincare devices market size. The market has witnessed high demand for diagnostic devices for skin diseases over the last few years due to the increasing awareness regarding the diagnosis of skin ailments.

Global skincare devices market

Challeng es

The high cost of equipment and side effects associated with these devices are the major challenges for the growth of skincare devices market. Certain side effects of using skincare devices such as swelling, chemical exposure, allergies, burn, irritation and skin color change make consumers cautious in adopting skincare treatment and diagnostic devices. This is the key factor hindering the global market growth. Explore

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Global skincare devices market

Geographic Overview Geographically, North America is the largest skincare devices market as the region is home to large number of industry players and also has the highest healthcare expenditure globally. Moreover, high disposable income in the region lead to high out of pocket expenditure by consumers in North America especially in the U.S. According to the World Bank, the GNI per capita in the U.S. was $48,880 in 2010 and increased to $58,700 in 2016. Also as per the data reported by the same organization, the U.S. health expenditure per capita was $7,949.9 in 2010 and it increased to $9,535.9 by 2015.

Global skincare devices market

Competitive Insight Market players in the skincare devices industry are focusing on investing in home use and hand held devices to increase their market sb characteristics and lower cost. Michelson Diagnostic Ltd., Merz Pharma GmbH & Co. KGaA, Lumenis Ltd., Alma Lasers Ltd., PhotoMedex Inc., Hologic Inc., Valeant Pharmaceuticals International Inc., Galderma SA, Beijing Toplaser Technology Co Ltd. And Panasonic Corporation are the key players offering skincare products in the market.

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