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HomeLifestyle NewsSkincare Devices Market will cross USD 28,157.2 million by 2030

Skincare Devices Market will cross USD 28,157.2 million by 2030

The skincare devices market will touch USD 28,157.2 million, powering at an 11.0% CAGR, by 2030. This growth can be ascribed to the increasing incidence of skin diseases, increasing disposable salaries, and technological improvements in skincare devices.

Based on product, the treatment devices category was the larger contributor to the industry. Several skincare treatment devices like cryotherapy devices and liposuction devices are costly, and they also offer various applications like cosmetic care, which boost their requirement across the globe.

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The indirect category, based on distribution channels, is likely to advance at a faster compound annual growth rate in the years to come. This will be because of the advantages related to this distribution channel like better profit margins owing to the increasing consumer preference for e-commerce.

The hair removal category, on the basis of application, will hold the majority share of the industry during this decade. This can be mainly because of the rise in consciousness about as well as the need for laser hair removal devices.

Additionally, with the nonstop progression of the e-commerce sector all over the world, home-use laser hair removal devices are available easily via online platforms, which also plays an important role in this category’s expansion.

The skin tightening & body contouring category, on the other hand, is likely to advance at the fastest rate in the years to come. This will be mainly because of the rising occurrence of obesity as well as the increasing count of people experiencing liposuction, which needs skin tightening.

The dermatology clinics category, based on end user, will be the major contributor to the skincare devices market, during this decade. This is because of the extensive penetration of skincare devices in this clinic, coupled with various treatments provided at this center like skin rejuvenation, skin tightening, and hair removal.

Whereas, the spas & salons category will progress at the fastest CAGR during this decade, because of the miniaturization of skincare devices, coupled with their reduced price.

North America led the industry in the past few years, and it will remain leading throughout this decade. This is ascribed to the high spending on healthcare, health coverage for skin cancer via Medicaid and Medicare in the U.S., and high per capita salary.

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APAC will propel at the highest compound annual growth rate in the years to come. This is mainly because of its enormous populace, surging elderly population, and high incidence of obesity and skin illnesses. It is because of the continuous advancement of technology in skincare devices, the skincare devices industry will continue to advance in the years to come.

SOURCE: P&S Intelligence