Global Skincare Devices Market is Forecast to Reach US$ 9,880.1 Million by 2019; CAGR of 11.1% from 2015 to 2019

Houston, TX, March 21, 2016 --(PR.com)-- Skincare involves preventive treatment and procedures such as massages, pore cleansing, pore size reduction and also includes therapeutic procedures such as anti-aging, wrinkle reduction, acne and scar repair, inflammation, discoloration or hyperpigmentation among others. To perform these treatments, a large variety of devices are available to patients today. These include aesthetic lasers, ultrasound and microcurrent devices, radiofrequency devices, microdermabrasion, LED/ infrared light therapy and cryotherapy among others.

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Traditionally most aesthetic procedures were used primarily by aging population to control visible signs of aging and by other individuals to treat dermatological conditions. However, past decade has seen an enormous increase in usage of devices by younger generations as luxury treatment, preventive measures for extending life of younger looking features and as a major confidence boost. People have adopted non-invasive treatments with great enthusiasm which is expected to continue growing in coming years as more understanding of dermatological conditions and aging evolves. The rise in commoditized multi-modality devices such as ultrasound, microcurrent and LED therapy in small miniaturized hand-held devices has increased the revenues of devices across the world.

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The SA-BRC team analyzed commercial and research activities of over 50 major players in this highly fragmented market. The ease of market entry for new companies is immediately hindered by the large existing competition. Unregulated devices have flooded the market particularly in the microcurrent, ultrasound, microdermabrasion and LED/Infrared light therapy segments. Largest players such as Cynosure and Lumenis control only a fraction of the market at approximately 5% each. Emerging markets such as Asia Pacific and Latin America have a large manufacturer base in their countries. Since dermabrasion, RF skincare devices and ultrasound skincare device technology is quite mature, it is developed by large number of small fragmented players across the world. This increased competition has driven the entry of low cost devices that run on a higher periodic maintenance than their western counterparts. For clinics in these emerging markets, it is difficult to afford a single large expensive purchase. Instead they opt for low cost equipment with replaceable parts that can be serviced periodically thereby enabling the clinics to bear a current account for the devices. This increased affordability has in turn lead the Asia Pacific skin care device market to be the largest in the world in terms of growth rate. Latin American countries such as Brazil & Mexico have the second largest number of cosmetic surgeons/ dermatologists in the world after the United States. The medical tourism industry also offers a variety of surgical and non-surgical skincare procedures to patients. The rising medical tourism industry is also responsible for promoting the growth of the skincare devices market. A medical traveler is anyone who travels across international borders for the purpose of receiving medical care. Rising health insurance for medical tourism will further supplement the growth of these technologies across the world.