The skin care devices market is projected to be a valued at U.S. $23.8 billion in 2023, and is estimated to grow to U.S. $101.5 billion by 2033, according to a report by Future Market Insights. The market is anticipated to record a significant CAGR of 15.6% during the forecast period.
The growing demand for skin care devices due to growing numbers of disposable income, the standard of living and electronic goods are enhancing the market share. The increasing number of beauty experts, skin disorder, and end-use industries are resulting in the continued adoption of more skin care devices.
Driving Market Factors
The key factors driving the skin care devices market share including the growing demand for spinning discs, non-invasive procedures to quickly regenerate skin cells and increasing millennial consumers.
Skin care brands aim to create devices that provide better skin treatment and prevent skin concerns to boost market expansion. The increasing adoption of skin care devices to treat skin problems such as scabies, warts, fungal infection and psoriasis also propel market opportunities.
Cosmetic procedures contributing to increased skin care devices market growth include skin lightening, tightening, body contouring and rejuvenation. The increasing adoption of skin care devices to maintain daily skin care routines also drives the market share.
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Various top skin care companies are providing skin care devices to consumer in a kit to maintain healthy and hydrated skin, thus increasing the market opportunities as well. The key players provide skin care devices at a reasonable cost to main skin daily. However, consumer's adoption of skin care devices for sensitive, dull or wrinkled skin is likely to grow the market size during the forecast period.
The growing interest in DIY skin care promotes consumers to maintain their skin health at home without going anywhere. The adoption of DIY reduces the usage of chemical products and encourages organic products and better devices on the e-commerce platform. To avoid the spread of harmful in-toxicity to the skin, consumers shift their preferences towards DIY beauty and consequently increasing the sales of skin care devices.
Skin Care Device Market Key Takeaways
- With a CAGR of 15.6%, the market for skin care devices is increasing during the forecast period.
- The market in the U.S. is anticipated to grow at a CAGR of 10.6% through 2033.
- With a CAGR of 13.8%, the UK market is likely to uplift during the forecast period significantly.
- The China market is estimated to grow at a CAGR of 24.4% over the forecast period.
- Acne treatment devices are the global market leader, with a CAGR of 15.9% during the projection period.
- With a CAGR of 16.2% throughout the projection period, the modern trade category dominates the worldwide market.
The market is consolidated by the number of present players globally during the forecast period. These players are launching skin care devices that prevent skin damage and other issues that attract consumers' attention. The prominent brands are fueling the market growth by adopting marketing methodologies such as mergers, collaborations, acquisitions and partnerships.