The size of skincare devices market will touch USD 28,157.2 million by 2030, at a rate of 11% in the years to come.
The key factors responsible for the increase in the requirement for skincare devices are the growing appearance awareness, growing consciousness with regards to beauty devices, increasing incidence of skin ailments, increasing elderly populace, mounting disposable income, and budding incidence of hormonal conditions.
The category of the treatment devices had the larger share in the industry. Many skincare treatment devices, for example cryotherapy devices, liposuction devices, are relatively expensive, and they also have numerous applications, for example cosmetic care, which surges their requirement.
Home-use skincare devices are trending in the industry. The incessant tech evolution and increasing acceptance of skincare devices have improved the emphasis of manufacturers on evolving novel, affordable, and easy-to-use products, easily operable at home without any sort of tech expertise.
Furthermore, individuals are turning out to be more aware about their looks being attractive and young. For coping with the requirements of consumers, electronic skincare devices are continuously introduced, for increased convenience, computerization, and reduced time consumption as opposed to the manual ones.
North America had the major share in the industry, and this trend will continue in the years to come as well. The regional growth has a lot to do with the high spending on healthcare, growing number of people suffering with obesity high income leading to the affordability of skincare devices and treatments, and health coverage for skin cancer with the help of Medicare and Medicaid in the U.S.
APAC will grow the fastest in the years to come in the skincare devices market, as a result of its large populace, high incidence of skin ailments and obesity, and increasing aging population. According to the UNESCAP, the elderly population will double from 535 million in the year 2015 to about 1.3 billion by 2050.
As per the WHO, about 132,000 cases of melanoma and nearly 2 and 3 million cases of non-melanoma skin cancer happen on a yearly basis at a global level. Some common reasons for these skin diseases are alcohol, anxiety, stress, and consumption of tobacco, exposure to ultraviolet radiations, pollution, and unclean environmental conditions.
The increase in the diagnosis rate of skin cancer and further skin diseases, with the biopsies, dermatoscopies and their treatment by laser devices and light therapy devices is helping the industry to grow at a considerable rate.
Due to the increasing cases of skin cancer and various skin issues, the demand for skincare devices will continue to increase in the years to come as well.
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