Global skincare devices market was valued at USD 9.1 billion in 2018 and is set to reach USD 17.8 billion by 2024, growing at a CAGR of 12.0% during the forecast period. Different types of diagnostic and treatment devices contributed to the skincare devices market size. The market has witnessed a high demand for diagnostic devices for skin diseases over the last few years due to the increasing awareness regarding the diagnosis of skin ailments.

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There are two types of skincare devices, diagnostic devices and treatment devices. Treatment devices were used more in comparison to the diagnostic devices and also generated larger revenue for market players. Diagnostic devices market is further segmented into biopsy devices, dermatoscopes, and image-guided systems. Of all these diagnostic devices image-guided systems market witnessed the highest growth worldwide, which is due to the technological advancements and miniaturization of these devices. Advancement in technology has made image-guided systems easy to use and led to an efficient diagnosis of skin diseases.

Skincare treatment devices market is categorized into electrosurgical devices, laser devices, liposuction devices, light-based devices, cryotherapy devices, microdermabrasion devices, and other treatment devices. Of all these devices laser devices market is growing at the highest CAGR and expected to maintain the highest demand in skin care devices market during the forecast period.

Development of technologically advanced skincare devices is the most impactful driver for the skincare devices market. Different vendors are focusing on the miniaturization of skincare devices so that healthcare providers and dermatology clinics are better positioned to adopt these devices, as these devices are easy to use and less complex.

The high cost of equipment and side effects associated with these devices are the major challenges for the growth of skincare devices market. Certain side effects of using skincare devices such as swelling, chemical exposure, allergies, burn, irritation and skin color change make consumers cautious in adopting skincare treatment and diagnostic devices. This is the key factor hindering the skincare devices industry growth, globally.

Globally industry players are leveraging market growth through the usage of e-commerce. Consumers can easily access these devices through online channels of distribution. Home-use skincare devices and hand-held devices have seen the maximum growth in demand through e-commerce. In the coming years also, industry players are anticipated to investing the direct marketing and sales of their products.

Asia-Pacific is observed to witness the fastest growth in the market. As the region comprises of largest population and the awareness for these devices is increasing rapidly among them. In addition, a large number of local players in the region are providing skin care devices at low cost which lead to increased rivalry in the market, which creates a positive impact on the skincare devices market growth in the region.

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Market players in the skincare devices industry are focusing on investing in home use and handheld devices to increase their market share. Michelson Diagnostic Ltd., Merz Pharma GmbH & Co. KGaA, Lumenis Ltd., Alma Lasers Ltd., PhotoMedex Inc., Hologic Inc., Valeant Pharmaceuticals International Inc., Galderma SA, Beijing Toplaser Technology Co Ltd., Syneron Medical Ltd., and Panasonic Corporation are the key players offering skincare products in the market.

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