According to Transparency Market Research, there are some big forecast numbers associated with the future skincare devices market. In 2011 the global skincare devices market was valued at $5.4 billion. This market is forecast to grow to an estimated 10.7 billion in 2018.
This expected giant leap is due to several factors; technological advancements and more efficient product designs. In addition, there is the ever growing popularity of non-invasive procedures. Many patients just do not want surgery and can't afford to take off the time to recover. Add to that the increased incidences of skin cancer and other skin disorders globally combined with the demand for aesthetic procedures and you have a recipe for an exploding market.
The aesthetic procedures that are in high demand include liposuction, skin rejuvenation, skin tightening, hair removal and body contouring. The market has numerous players such as Syneron Medical Ltd., Solta Medical, Inc., Cynosure, Inc., Lumenis Ltd., Cutera, Inc., PhotoMedex, Inc. and Alma Lasers Ltd. According to Transparency Market Research, at the head of the pack are Syneron Medical and Solta Medical followed by PhotoMedex and Lumenis.
North America, with a high income consumer base and a thirst for new technologies has the largest market. A rise in disposable income and an expanding consumer base attribute to the growth in the Asia-Pacific region.