Skin Aesthetic Devices Market Hits US$4,332.90 million by 2027 says, The Insight Partners
According to The Insight Partners market research study titled ‘Skin Aesthetic Devices Market - Global Analysis and Forecasts by Product, treatment and End User, the global skin aesthetic devices market is expected to reach US$ 4,332.90 Mn in 2027 from US$ 1,797.49 Mn in 2019. The market is estimated to grow with a CAGR of 11.7% from 2020-2027.The report highlights the trends prevalent in the global skin aesthetic devices market and the factors driving the market along with those that act as deterrents to its growth.
Skin aesthetics deals with the enhancement of cosmetic appearance of the skin. Skin aesthetic devices majorly include systems and platforms for hair removal, vascular lesions, tattoo removal, treatment of acne & scars, and rejuvenation of skin. The global skin aesthetic devices market is being driven by factors such as rising preference toward minimally invasive procedures, increase in number of cosmetic surgeries, growth in population between the ages 30 and 65 years. However, high cost of surgeries along with clinical risks and complications associated with aesthetic procedures are the factors which will impede the skin aesthetic devices market growth. Furthermore, increasing disposable incomes and the expanding middle-class population are likely to offer significant opportunity for the growth of the global skin aesthetic devices.
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Some of the prominent players operating in skin aesthetic devices market are, LUMENIS, Cutera inc., Merz Pharma, Candela Corporation, Sciton, inc., Fotona, Venus Concept, Allergan plc., Cynosure, Alma Lasers. The market players are focused towards launching new products in order to sustain their position in the market. For instance, in Sep 2019, Cutera Inc.received product approval for its truSculpt iD, body sculpting platform from Health Canada. Through this approval, the company can distribute its newly approved product in Canada.
Factors such as increase in number of cosmetic surgeries and rising preference toward minimally invasive procedures are expected to upsurge the market growth. However, high cost of surgeries along with clinical risks and complications associated with aesthetic procedures is likely to hamper the growth of the market.
Increasing number of cosmetic surgeries
Cosmetic surgery, also known as aesthetic surgery, is an operation that improves a person’s look. Such operations include breast augmentation, liposuction, rhinoplasty, blepharoplasty or eyelid surgery, and rhytidectomy or facelift. The most popular surgical cosmetic procedures in 2017 were breast augmentation, followed by liposuction and eyelid surgery. The primary purpose of cosmetic surgery is to enhance an individuals’ appearance. Size acceptance, body positivity, and fat activism are now part of the cultural lexicon. Yet, according to data from the American Society of Plastic Surgeons (ASPS), reported that nearly a quarter-million more cosmetic procedures were performed in 2018 than in 2017.
According to an international study on cosmetic procedures, total surgical procedures increased by 5.4%in 2018. The US witnesses maximum number of medical surgeons, with 7,009 plastic surgeons. Additionally, the number of people opting for cosmetic procedures has risen steadily over the past five years. They are thereby driving the market for skin aesthetic devices during the forecast period.
The skin aesthetic devices market by productise segmented into laser skin resurfacing devices, nonsurgical skin tightening devices, micro-needling products and light therapy device. In 2019, the laser skin resurfacing devices held the largest share of the market, by product. Also, nonsurgical skin tightening devices segment is expected to grow at the fastest rate during the coming years owing to increasing adoption of integrated systems across the globe. The large share of laser skin resurfacing devices can be attributed to various advantages as this device reduce the appearance of fine lines, age spots, and wrinkles on the face; make the skin tone and texture even; and tone down the acne scars. Such advantages of the laser resurfacing process are likely to contribute to the growth of the market for this segment in the coming years.
On the other hand, the nonsurgical skin tightening devices is anticipated to witness the highest growth rate during the forecast period. The treatments provided through the use of the most of the nonsurgical skin tightening devices are quick and efficient, and are associated with low downtime. As a result, the increasing popularity of skin tightening treatments is expected to contribute to the growth of the market for this segment over the years to come.
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