COVID-19 Effect on Skincare Devices Market Size, Status, Top Players, Trends in Upcoming Years

BELLA VISTA, Ark. - April 28, 2020 - PRLog -- Looking good is considered important in today's world, as it happens to boost many people's confidence. The idea of beauty is almost as important as human civilization itself, with folklore being filled with appreciation of their protagonists' physical charms. This is why people around the world are rapidly focusing on their skin and hair and visiting spas and dermatology centers for the same. With the advent of globalization, the trend of working on one's appearance has picked up in the last 10–15 years.

Hence, with humans stepping up efforts to look good, the skincare devices market (https://www.psmarketresearch.com/market-analysis/skin-care-devices-market), which generated $7,787.4 million in 2017, is projected to reach around $14,600.0 million by 2023, at an 11.2% CAGR during 2018–2023 (forecast period). The other reason for the rapid uptake of such instruments is the increasing prevalence of skin diseases, the most deadly among which is skin cancer. The World Health Organization (WHO) puts the annual incidence of melanoma and non-melanoma skin cancer at 132,000 and 2–3 million cases, respectively.

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Other common dermatological diseases include acne, psoriasis, eczema, and seborrheic dermatitis. With skincare devices undergoing technological advancements, the treatment of a lot of such issues has become easier. Advanced instruments are better able to improve the appearance of the skin, by effectively treating wrinkles, fine lines, sun spots, and cellulite. Among the advancements are energy-based devices, which utilize the light, laser, ultrasound, electromagnetic radiation, plasma, and cryolipolysis technologies, and are therefore non-invasive.

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Currently, North America is the largest user of such devices, as it accounts for the highest disposable income anywhere in the world, which allows inhabitants to opt for beauty treatment more freely and more often. Additionally, the region is the first to witness the launch of technologically advanced products, which are strongly promoted on TV, internet, and magazines. This leads to a high awareness on these devices among people, who are also realizing the importance of a healthy skin and dangers of various dermatological conditions.

Thus, with the increasing appearance consciousness and incidence of dermatological diseases, the demand for skincare devices is surging.