According to a new market report published by Transparency Market Research "Skincare Devices Market (Lasabrasion, Microdermabrasion, Liposuction, LED Therapy, Dermatoscopes, Skin Rejuvenation, Cellulite Reduction, Skin Tightening & Body Contouring and Hair Removal) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," in 2011, the global skincare devices market was valued at USD 5.4 billion and is expected to grow at a CAGR of 10.1% from 2012 to 2018, to reach an estimated value of USD 10.7 billion in 2018.
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The global skincare devices market is expected to grow at a CAGR of 10.1% during the forecast period mainly due to the technological advancements in product design, thus making the devices highly efficient as well as increasing adoption of minimally and non-invasive procedures to ensure better patient comfort. Due to a rise in global incidence of skin cancer and other skin disorders such as psoriasis, dermatitis and acne, and abnormalities such as moles, warts, lesions, etc. a large patient population undergoes diagnostic tests and subsequent treatments to cure the same. On the other hand, a surge in the demand for aesthetic procedures such as liposuction, skin rejuvenation, skin tightening, hair removal and body contouring is also expected to drive this market.
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The market for LED therapy devices accounted for the largest share of the total market for treatment devices whereas the lasabrasion devices market is expected to record the highest growth during the forecast period. The rising numbers of liposuction and hair removal procedures make these market segments highly attractive in terms of revenue and CAGR. Worldwide acceptance and use of laser and light based devices for aesthetic treatments will drive growth in future.
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North America accounted for the largest market among other geographies in 2011. This is due to the presence of a huge high-income consumer base and introduction of latest technologies for a wide variety of medical procedures. In terms of growth, Asia-Pacific region is expected to record the highest growth at a CAGR of more than 11%. This is mainly due to the rising disposable incomes of the expanding consumer base, growing economies and presence of numerous local manufacturers offering cost-effective products and services.
The market for skincare devices is highly fragmented with numerous players such as Syneron Medical Ltd., Solta Medical, Inc., Cynosure, Inc., Lumenis Ltd., Cutera, Inc., PhotoMedex, Inc. and Alma Lasers Ltd. Syneron Medical and Solta Medical together accounted for the largest share of the total market in 2011, followed by PhotoMedex and Lumenis.
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