Dermatology is the science of diagnosis and treatment of skin abnormalities and disorders. In addition to disease diagnosis and treatment, skincare devices are also used in a variety of aesthetic applications for cosmetic care and enhancement of appearance of the skin and body.
Albany, NY -- (SBWIRE) -- 04/01/2016 -- As more people worldwide suffer from skin disorders, there is a mounting need for skincare products and devices. The market for skincare devices, especially, is expected to evolve rapidly as companies in this space respond to the trend of minimally invasive or non-invasive procedures. The report on the global skincare devices market offers a detailed qualitative and quantitative assessment to enable vendors and companies in the market make more informed decisions.
For the purpose of this study, the global skincare devices market is segmented on the basis of type of product, application, and geography. The report also features a list of recommendations that will help companies strengthen their footing in the global skincare devices market. This information, supplemented by an evaluation of the drivers and restraints that will impact the market's trajectory, will help companies channel their investments into high-return areas.
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By product, the global skincare market is segmented into: diagnostic devices (dermatoscopes, image guidance systems, and biopsy devices), treatment devices (lasabrasion devices, electrosurgical devices, microdermabrasion devices, cryotherapy devices, liposuction devices, and LED therapy devices).
On the basis of application, the report segments the global skincare devices market into: cellulite reduction, disease diagnosis and treatment, hair removal, skin rejuvenation, body contouring and skin tightening, and damage repair.
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Likewise, the regional markets studied in the report are: Asia Pacific, North America, Europe, and Rest of the World.
Overview of the Global Skincare Devices Market
As aesthetics becomes a multibillion dollar opportunity in itself, companies are now more willing than ever to channel funds into the skincare devices market. It is owing to this reason that the global skincare devices market will have a worth of US$10.7 bn by 2018.
However, as is the case with most marketplaces that become crowded, innovation will remain the cornerstone of growth in the global skincare devices market as well. This will ultimately benefit customers as they get access to an array of innovative skincare devices designed to treat a variety of conditions. In underserved regions, cost is a factor that will dictate the success or failure of skincare devices.
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The global skincare devices market will have a CAGR of 10.1% from 2012 to 2018. However, with unprecedented growth in the number of people undergoing aesthetic procedures such as body contouring and skin tightening, the demand for enabling devices will see a corresponding rise. According to TMR's report, skincare devices for aesthetic procedures will exhibit double-digit growth over the report's forecast period.
North America is the leading regional market for skincare devices, not only because of a high demand for procedures entailing the use of such devices here, but also because several companies manufacturing such devices are based in the United States. Lasabration is an investment-worthy space, especially in the Asia Pacific region, says in its report.
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However, with a high degree of competition also comes pressure on pricing and the entry of market players offering substitute skincare devices. These two factors will exert a downward force on the market's growth. Countries in Asia and the Middle East that have a burgeoning medical tourism market are lucrative investment areas for companies in the skincare devices market.
Companies Mentioned in the Skincare Devices Market
Companies that currently have a firm footing in the global skincare devices market include: Cynosure, Inc., Syneron Medical Ltd., Cutera, Inc., Solta Medical, Inc., and Lumenis Ltd.
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