SKINCARE DEVICES MARKET ANALYSIS

Skincare Devices Market Size and Trends

Global skincare devices market is estimated to be valued at USD 16.1 Bn in 2024 and is expected to reach USD 39.1 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 13.5% from 2024 to 2031. The market growth can be attributed to increasing awareness about aesthetic procedures and rising disposable income of the middle-income population globally.

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Global skincare devices market is expected to witness significant growth over the forecast period due to  factors such as rising cases of skin diseases due to pollution, increasing aging population, and growing demand for anti-aging treatments. Furthermore, continuous developments in skincare technology and rising popularity of online sales channels can drive the market growth.

Rising awareness about anti-aging and age-defying treatments

Global skincare devices market growth is driven by rising awareness about various anti-aging and age-defying treatments. There is a growing consciousness among consumers, especially those who are aging, about looking younger and maintaining youthful skin. People no longer want to accept the natural signs of aging such as wrinkles, fine lines, dark spots and loose skin. Increasing demand for procedures and products that can effectively reduce these signs of aging can drive the skincare devices market growth. Higher disposable incomes have empowered more people to spend on expensive skincare devices to maintain their youthful appearance. Extensive marketing and promotion of anti-aging products and devices by top brands has educated consumers about the options available. Social media is another platform where people can see visual examples of before-and-after results of different treatments, thus, boosting demand for these devices. With growing vanity culture, more people want to look attractive and cared-for at any age. The ubiquitous use of cameras in smartphones and virtual meetings have also made people more conscious of their appearance on video. This awareness boosts demand for effective anti-aging skincare devices that aid in collagen production and skin tightening.

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Rising launch of new and technologically advanced products

Global skincare devices market growth is driven by continual launch of innovative and technologically advanced products. There is a growing demand for multi-functional skincare devices that can address various skin concerns through personalized solutions. Manufacturers are investing heavily in R&D to develop smart and connected devices integrated with artificial intelligence, skin analytics and therapeutic technologies. In June 2022, Cynosure, a company that develops and manufactures lasers for medical and aesthetic treatment application, introduced the Elite iQ platform in the U.S., Europe, and Australia. Featuring patented Skintel technology, this platform provides personalized laser hair removal and skin revitalization treatments. These innovations are expected to attract new customers to skincare services and drive the market growth.