Skincare Devices Market Expected to Reach $38.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Skincare Devices Market," The skincare devices market size was valued at $14.3 billion in 2022, and is estimated to reach $38.8 billion by 2032, growing at a CAGR of 10.5% from 2023 to 2032. A wide variety of technological instruments intended to improve skincare are referred to as skincare devices. These devices use cutting-edge technologies to address issues with skin health such as anti-aging and acne. The primary aim of these devices is to provide consumers with efficient and non-invasive methods for enhancing the appearance, texture, and tone of the skin. Various skincare devices including light therapy devices, lasers, and microdermabrasion devices are used for the treatment of skin resurfacing, hair removal, skin tightening, and others.

Global skincare devices market trends include alarming increase in prevalence of skin disorders such as acne, psoriasis, & skin cancers and increase in preference of patients toward non-invasive treatments. The rise in prevalence of skin disorders, such as psoriasis, acne, skin cancer, sun burn, and atopic dermatitis, is one of the major factors that boosts market growth. Skin disease is ranked as the fourth most common cause of human illness. In addition, according to the Journal of National Psoriasis Foundation, in 2021, it was observed that around 3% of the U.S. adult population was diagnosed with psoriasis. Thus, surge in prevalence of these conditions leads to surge in demand for skincare treatments, thus driving the growth of the market.

Further, the patients have shifted their preference toward non-invasive procedures for various skin treatments. The benefits of non-invasive procedures are that they cause no pain, do not involve incision, or cut, leave no scar, and have low risk of complications. In addition, it is safer than traditional open surgeries. This has increased the demand for non-invasive laser skin treatments, which further propels market growth. Furthermore, rise in consumer awareness of skincare and beauty through social media and other online platforms contribute toward the market expansion. For instance, beauty vloggers frequently feature devices such as microcurrent devices, or LED light therapy masks in their content, emphasizing the positive impact on skin health. This has increased the demand for skincare devices among consumers, which, in turn, boost the skincare devices market size.

However, the high cost of skincare devices and skincare procedures restrains the market growth. For instance, according to American Society of Plastic Surgery (ASPS), the average cost of laser skin resurfacing ranges from $2,000 to $2,500. Thus, the high cost of skincare devices limit their adoption in low income countries and negatively impact the growth of skincare devices market.

On the basis of product type, the skincare devices market analysis is done across diagnostic devices and treatment devices. The treatment devices segment accounted for the largest skincare devices market share in 2022 and is expected to be the fastest growing segment during the forecast period. This is attributed to an increase in the use of treatment devices for body contouring, acne treatment, hair removing, and other skincare treatments.

Depending on application, the market is categorized into disease diagnosis and skin treatment. The skin treatment segment accounted for the largest skincare devices market share in 2022 and it is anticipated to be the fastest growing segment during the forecast period. This is attributed to an increase in the demand for aesthetic procedure and rise in awareness about available hair removal devices.

On the basis of end user, the market is divided into dermatology clinics, salons and spa, and others. The dermatology clinics segment dominated the global market in 2022, owing to increase in prevalence of skin diseases and rise in awareness about skincare procedures for beauty enhancement. However, salons and spas segment is expected to register fastest CAGR during the skincare devices market forecast period, owing to rise in numbe of salons and spas and increase in beauty enhancement procedures from salons.

Region wise, North America had the highest market share in 2022, and is expected to maintain its lead during the forecast period owing to high prevalence of skin diseases, rise in adoption of advanced skincare devices, and strong presence of market key players. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period, owing to rise in awareness about skin health, surge in disposable income, and adoption of advanced technology products.

Key Findings of the Study

• By product type, treatment devices segment dominated the skincare devices industry in 2022.
• On the basis of application, skin treatment segment dominated the market in 2022.
• Depending on end user, dermatology clinics segment dominated the skincare devices industry in 2022.
• By region, the North America segment dominated the market in 2022. However, Asia-Pacific is the fastest growing segment during the forecast period with CAGR of 11.3%