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Albany, New York, May 08, 2019 (GLOBE NEWSWIRE) -- People now are more conscious of their skin than ever before. They are ready to spend a huge sum of money to get the best of the treatments to maintain the health of their skin. Owing to these incidences, manufacturers are developing affordable and advanced devices such as exfoliating and ultrasonic devices. Players are also developing skin care devices based on AI. Recently, a Chinese app developer company, Meitu developed an AI-powered skin cleaning devices. This device accurately identifies skin problems such as pimples, blackheads, and dark spots.
Various other players in the global Skin Care Devices Market are focusing on introducing new products with advanced technologies. They are also establishing a strategic alliance with smaller companies operating in the same profession. Transparency Market Research observes high competition in the global skin care devices market due to the presence of a large number of players. All these factors contribute in expand in market revenue by rising at 10.1% CAGR between 2015 and 2023.
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Numerous Skin Condition Creating Stronger Grounds for Skin Care Devices Market
Globally, the prevalence of various skin conditions has grown drastically due to various natural and unnatural reasons. Rise skin cancer and high demand for non-invasive cosmetic procedures have further augmented demand for skin care devices. High physical consciousness among people in both developed and developing countries and high spending on physical maintenance surged demand for aesthetic procedures. Owing to these factors, one can experience high growth in skin tightening, body contouring, and skin rejuvenation practices.
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Developed regions have shown maximum contribution in developing global skin care devices market. Use of latest technologies like U-P-5 and high economical capacity in North America led the dominance of this region. Asia Pacific, on the other hand, is a budding market for the growth of skin care devices. Growing preference for tattoos, anti-aging procedures, and introduction of fractional CO2 laser technology further accelerated growth in Asia Pacific skin care devices market.
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North America to Lead Skin Care Devices Market Followed by Europe
From a regional viewpoint, North America is projected to lead the global skin care devices market with a large share of the market throughout the forecast period. The rising demand for skin care devices and the rising disposable income of consumers are some of the major factors that are projected to enhance the growth of the North America market in the next few years. In addition to this, the advent of new products and the rising focus on the research and development activities are further predicted to accelerate the growth of the market in the near future. North America is further projected to be followed by Europe and Asia Pacific. The rising population and the increasing awareness among consumers regarding the benefits of using skin acre devices are projected to accelerate the growth of the market in the near future.
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In terms of application, the global skin care devices market has been categorized into hair removal, damage repair, body contouring, disease diagnostic and treatment, skin rejuvenation, skin tightening, and cellulite reduction. Among these, the cellulite reduction segment is projected to lead the overall market with a large share in the coming few years. The high demand for cellulite reduction owing to the rising awareness among consumers is projected to enhance the growth of this segment throughout the forecast period.
Some of the leading companies operating in the global skin care devices market are Valeant Pharmaceuticals, Syneron Medical Ltd., Lumenis Ltd., ZELTIQ Aesthetics, Inc., and Cynosure.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Skin Care Devices Market (Product - Skin Care Diagnostic Devices (Dermatoscope, Biopsy, and Image Guidance) and Skin Care Treatment Devices (LED Therapy, Lasabrasion, Liposuction, Microdermabrasion, Electrosurgical, and Cryotherapy); Application - Cellulite Reduction, Disease Diagnosis and Treatment, Hair Removal, Skin Tightening and Body Contouring, Skin Rejuvenation, and Damage Repair) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023..”
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