Skincare Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 2023 Transparency Market Research has published a new market report titled, “Skincare Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.� According to the report, the global skincare devices market was valued at US$ 7,255.8 Mn in 2014 and is anticipated to expand at a CAGR of 10.1% from 2015 to 2023 to reach US$ 17,299.4 Mn in 2023. There has been an increase in the number of skin abnormalities and disorders which has led to an increase in the need to diagnosis and treat skin problems. The diagnosis and treatment of skin related problems needs various skincare devices. Skincare devices comprise various diagnostic and treatment devices such as biopsy devices, dermatoscopes, lasabrasion devices, microdermabrasion devices, liposuction devices and many more. Skincare devices not only diagnose and treat skin abnormalities, but are also used for aesthetic applications such as the enhancement of appearance of the skin and body and for cosmetic care.
The skincare devices market is growing at a fast pace owing to the increased marketing budgets of the companies operating in the skincare devices market, thus boosting the awareness among consumers. Increased awareness among consumers leads to a higher number of people opting for skincare treatments, thus boosting the global skincare devices market. The global skincare devices market is segmented on the basis of product, application, and geography. On the basis of type, the market is segmented into treatment devices and diagnostic devices. Treatment devices include LED therapy, lasabrasion, liposuction, microdermabrasion, cryotherapy, and electrosurgical. Diagnostic devices are categorized into biopsy devices, image guidance systems, and dermatoscopes. While LED therapy devices held the largest market among treatment devices, dermatoscopes held the largest share in the diagnostic devices market in 2014. The growth of the dermatoscopes segment can be attributed to the extensive use of these devices by dermatologists to detect malignant melanoma, basal cell carcinoma, dermatofibroma, and other skin disorders. The growing incidences of skin cancer are also driving the dermatoscopes segment.