Status : Published Published On : Apr, 2019 Report Code : VRHC1197 Industry : Healthcare Available Format : Page : 139

Europe Skincare Devices Market – Analysis and Forecast (2019-2024)

Industry Insights by Type (Treatment (Laser-Based Devices, Electrosurgical Devices, Light-Based Devices, Liposuction Devices, Microdermabrasion, Cryotherapy Devices, Others), Diagnostic (Biopsy Devices, Dermatoscope, Image Guided System, Others)), by Distribution Channel (Direct, Indirect), by Application (Hair Removal, Skin Rejuvenation, Diseases Diagnosis and Treatment, Cellulite Reduction, Skin Tightening & Body Contouring, Others), by End-User (Dermatology Clinics, Hospitals, Spas and Salons, Others), by Geography (Germany, France, Italy, U.K., Spain)

Industry Overview

The European skincare devices market is expected to grow at a CAGR of 11.5% during the forecast period with its market size predicted to reach USD 4.7 billion by 2024. The major factors driving the European skincare devices market are high awareness among consumers for personal care, adoption of technologically advanced products, aging population, and increasing prevalence of skincare disorders. Also, the usage of chemicals in topical skincare products is further encouraging the European population to adopt devices for skincare. Laser-based devices, electrosurgical devices, light-based devices, liposuction devices are the major contributor to the skincare devices industry in the region.

Europe Skincare Devices Market Highlight

Market Segmentation

Insight by Type

Based on type, skincare devices market is categorized into treatment devices and diagnostic devices. Treatment devices hold a larger share in the European skincare devices market. Skincare treatment devices market is categorized into laser-based devices, electrosurgical devices, light-based devices, liposuction devices, microdermabrasion, cryotherapy devices, and others. Of all these devices laser devices market is predicted to observe the highest growth during the forecast period as these are more effective and can target specific structures in the skin.

Diagnostic skincare devices market is further segmented into biopsy devices, dermatoscopes, image-guided systems, and others. Of all these diagnostic devices, image-guided systems market is anticipated to observe the highest CAGR during the forecast period.

Insight by Distribution Channel

On the basis of distribution channel, the European skincare devices market is segmented into direct channels and indirect channels. Skincare devices are more sold through indirect channels as compared to direct channels, however, with the increasing internet penetration market players are also leveraging the benefits of direct channels. Direct channels provide industry players a higher margin of profit, which leads to a shift from indirect to direct distribution of these devices.

Insight by Application

The various application of skincare devices includes hair removal, skin rejuvenation, diseases diagnosis and treatment, cellulite reduction, skin tightening & body contouring, others. The highest growth in demand for skincare devices is predicted to be observed for skin tightening and body contouring application.

Insight by End User

The primary end users of skincare devices are dermatology clinics, spas and salons, hospitals, and others. Among all end users, the spas and salons are expected to witness the fastest growth in demand for the skincare devices in Europe. With the miniaturization of devices and technological advancements, spas and salons are expanding their services areas leading to the highest growth in demand for such devices.

Industry Dynamics

Growth Drivers

Some of the key factors leading to the growth in the European skincare devices industry are a high prevalence of skin disorders, increasing awareness for personal care, increasing geriatric population, and shifting consumer inclination from topical based treatments to device-based treatments. Also, technological advancements have led to the miniaturization of devices with the capability of treating several skin conditions.

High disposable income along with aging population is the major factor fueling the demand for skincare devices in the region. As per the World Bank, 16.47% population of Germany and 16.01% population of France was aged 65 or above in 2000, and the percentage increased to 21.45% and 19.72% respectively by 2017.

The development of portable devices has led to the adoption of skincare devices for home use. Also, due to the high disposable income, the demand for a premium category of products is high in the region, especially in Western Europe. For instance, as per the World Bank data, the GDP per capita of Germany, France, U.K., Italy, and Spain, was USD 23,687.32, USD 22,433.56, USD 27,427.59, USD 20,400.81, and USD 15,323.61 respectively in 2001, which increased to USD 44,469.91, USD 38,476.66, USD 39,720.44, USD 31,952.98, 28,156.82 in 2017.

Challenges

Some of the key challenges faced by the European skincare devices industry are sluggish economic growth, and side effects associated with the use of skincare devices. Also, stringent regulatory norms in the region lead to the delay in the approval of new advanced products; thus hampering the growth of the market to some extent.

Geographic Overview

Geographically, Germany is the largest skincare devices market in Europe. The large consumer base, high disposable income and robust economy of the country lead to the largest share of the country in the region. The market in France is anticipated to grow at the highest CAGR of 12.9% during the forecast period. Presence of a large number of industry players, increasing investment in research and development, and high consumer inclination towards devices for skin condition treatment are the key factors leading to the fastest growth of the French skincare devices industry.

Competitive Insight

Key players in the skincare devices industry are investing in the advancements of technology to provide better treatment options. Some of the players operating in the European market are Galderma SA, Merz Pharma GmbH & Co. KGaA, Lumenis Ltd., Alma Lasers Ltd., PhotoMedex Inc., Hologic Inc., Syneron Medical Ltd., Panasonic Corporation, Classys Inc. and Irisiome SAS.

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

Europe Skincare Devices Market Analysis

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Europe Skincare Devices Market