Skincare devices are used for the diagnosis and treatment of skin ailments. Global skincare devices market was valued at USD 8.2 billion in 2017. Different types of diagnostic and treatment devices contributed to the skincare devices market size. The market has witnessed 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 efficient diagnosis of skin diseases.
Insight by Distribution Channel
On the basis of distribution channel, skincare devices market is segment into direct channels and indirect channels. Skincare devices are more sold through indirect channels as compared to direct channels, however with the increasing internet penetration market players are leveraging the benefits of direct channels also. Direct channels offer market players opportunities to increase their profit margin even by pricing their products at lower cost. The skincare devices market through direct channels is anticipated to grow at 13.1% CAGR during 2018-2024.
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Asia-Pacific is observed to witness 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, 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.
Market players in the skincare devices industry are focusing on investing in home use and hand held devices to increase their market sb characteristics and lower cost. 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. And Panasonic Corporation are the key players offering skincare products in the market.
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