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 4,667.7 million by 2024. The 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 are the primary growth drivers for the European skincare devices market.
The European skincare industry is witnessing significant growth as the new products with advanced technology are being approved by the regulatory bodies. Industry players are investing in the expansion of their product portfolio and focus on the premium product segment as the disposable income of the western European countries have increased significantly over the last decade. For instance, as per the World Bank data, the GDP per capita of Germany, France, and U.K., was USD 23,687.32, USD 22,433.56, and USD 27,427.59, respectively in 2001, which increased to USD 44,469.91, USD 38,476.66, and USD 39,720.44 in 2017.
The aging population is a significant burden on European healthcare system; however, it creates significant opportunities for skincare devices manufacturers to generate revenue. Different companies are investing in designing and developing devices for this population segment as it offers immense growth opportunities. Products ranging from cellulite reduction and skin rejuvenation to anti-aging and skin tightening are being launched and marketed in the region.
Browse Market Insight and In-depth TOC on "Europe Skincare Devices Market – Analysis and Forecast (2019-2024)"
Based on the type, the 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. 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.
In terms of distribution channel, the 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.
Based on application, the European skincare devices market is segmented into 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 due to the increasing geriatric population.
Of all the end users including dermatology clinics, spas and salons, hospitals, and others, spas and salons are expected to witness the fastest growth in demand for the skincare devices in Europe.
Germany is the largest skincare devices market in Europe. The increasing geriatric population, large consumer base, high per capita income and robust economy of the country lead to the largest share of the country in the region. As per the World Bank, 16.47% population of Germany in 2000 and it increased to 21.45% by 2017.
The French skincare devices market is anticipated to grow at the highest CAGR of 12.9% during the forecast period. Presence of large number of industry players, high per capita income in the country, 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. As per the World Bank data, the GDP per capita of France was USD 22,433.6 in 2001, which increased to USD 38,476.7 in 2017.
Some of the players operating in the European skincare devices industry are Lumenis Ltd., Merz Pharma GmbH & Co. KGaA, Alma Lasers Ltd., PhotoMedex Inc., Hologic Inc., Galderma SA, Syneron Medical Ltd., Panasonic Corporation, Classys Inc. and Irisiome SAS.
Europe Skincare Devices Market Coverage
Type Insight and Forecast 2014-2024
Distribution Channel Insight and Forecast 2014-2024
Application Insight and Forecast 2014-2024
End-User Insight and Forecast 2014-2024
Europe Skincare Devices Market by Country
Germany Skincare Devices Market
France Skincare Devices Market
U.K. Skincare Devices Market
Italy Skincare Devices Market
Spain Skincare Devices Market
Rest of Europe Skincare Devices Market