The prevalence of skin-related disorders and skin cancer has been rising since the past few years. As per the WHO, approximately 132,000 cases of melanoma and about 2–3 million cases of non-melanoma skin cancer affect people across the globe every year. Other than this, increased anxiety, stress, tobacco & alcohol consumption, pollution, UV exposure, and unfavorable environmental conditions are leading to the high prevalence skin diseases. Owing to these factors, the demand for skincare devices has also been rising across the globe.
Attributed to this, manufacturers are also focusing on manufacturing easy-to-use products that can be operated easily at home without needing any technical expertise. Electronics skincare devices, which provide enhanced automation convenience, and consume less time, are being introduced in the market. The increased adoption of these devices in the coming years is expected to result in the growth of the market. Skincare devices can be diagnostic or treatment devices, between which, the demand for treatment devices was higher in the past.
Out of these, the demand for skincare devices is expected to increase considerably for the skin tightening & body contouring application in the coming years. The prevalence of obesity is surging across the globe, along with the number of people undergoing liposuction, which is creating high requirement for skin tightening. Apart from this, the demand for skincare devices has also been high for the hair removal application in the past, owing to the rising awareness regarding laser hair removal devices among people. The expanding e-commerce industry is also resulting in increasing adoption of home-use hair removal devices.
Geographically, the skincare devices market is being dominated by North America, owing to the high healthcare expenditure, rising awareness regarding skin problems and their treatment, and increasing per capita income of people. Furthermore, the rising availability of health coverage for skin cancer via Medicaid and Medicare in the U.S. is also resulting in the growth of the regional domain. The Asia-Pacific region is projected to create significant demand for skincare devices in the coming years.
