The growth in the skincare devices market will be led by increasing cases of skin cancer and skin related disorders, technological advancements in skincare devices, increase in disposable income, rising demand for aesthetic procedures, and growing geriatric population.
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Skin treatment devices held the largest share in the skincare devices market in 2017. These devices include light/LED therapy and photorejuvenation, liposuction, electrosurgical, laser based, cryotherapy, microdermabrasion, and others. Light/LED therapy and photorejuvenation devices are estimated to capture the largest share of the skin treatment devices market in 2017. This is due to the worldwide growth in aging population, and increasing popularity of these devices as a way to fight acne, and many signs of aging. Laser based devices are expected to witness the fastest growth in demand, at a CAGR of 11.9% during the forecast period.
The skincare devices are expected to witness the fastest growth in demand in APAC, at a CAGR of 12.5% during the forecast period, owing to a large population, higher prevalence of skin diseases and obesity, and aging population in the region.
The key players in the skincare devices industry are developing and launching new skincare devices that are equipped with latest technology, to gain a larger market share. For instance, in May 2017, Cutera Inc. launched truSculpt 3D, a new technology in body sculpting that offers up to 24% fat reduction in a single operation.
Some of the other key players operating in the skincare devices market include Allergan plc, Merz Pharma GmbH & Co. KGaA, Syneron Medical Ltd., Michelson Diagnostic Ltd., Lumenis Ltd., PhotoMedex Inc., Alma Lasers Ltd., Hologic Inc., Panasonic Corporation, Valeant Pharmaceuticals International Inc., and Beijing Toplaser Technology Co Ltd.
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