The global microdermabrasion devices market is estimated to be valued at US$ 481.09 Mn in 2022 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Microdermabrasion devices are used for non-invasive exfoliation and rejuvenation of the skin. These devices help in removing dead skin cells, reducing acne scarring, fine lines, and wrinkles, and improving overall skin texture and tone. The increasing demand for non-invasive cosmetic procedures, rising awareness about skincare, and technological advancements in microdermabrasion devices are the key factors driving the market growth. Furthermore, the rising prevalence of skin-related disorders, such as acne and pigmentation, and the growing emphasis on personal grooming and appearance enhancement are also contributing to the market growth. The advantages of microdermabrasion devices include minimal downtime, painless procedure, and immediate results, which are further attracting the attention of consumers and fueling market growth.
Market Key Trends:
One key trend in the microdermabrasion devices market is the growing popularity of at-home microdermabrasion devices. The increasing preference for self-care and convenience among consumers, along with advancements in technology, has led to the development of compact and portable microdermabrasion devices that can be used at home. These devices offer consumers the flexibility to perform the procedure at their own convenience and at a fraction of the cost of professional treatments. The ease of use, affordability, and wide availability of at-home microdermabrasion devices are driving their adoption among consumers, thus boosting the market growth.
PEST Analysis:
Political: The political environment is stable and favorable for the microdermabrasion devices market. Governments across the world are focused on promoting the healthcare sector and encouraging technological advancements in medical devices. This creates a supportive regulatory environment for the market.
Economic: The economic factors influencing the microdermabrasion devices market include the increasing disposable incomes and healthcare expenditures of individuals globally. Rising consumer awareness about beauty and skincare, and the growing popularity of aesthetic procedures are also contributing to the market growth.
Social: There is a growing trend of people seeking non-invasive cosmetic procedures to improve their skin's appearance. The desire to have youthful and flawless skin has led to the rising demand for microdermabrasion devices. Additionally, the increasing focus on personal grooming and the influence of social media on beauty standards are also driving the market.
Technological: Technological advancements in microdermabrasion devices have led to the development of more efficient and user-friendly devices. Innovative features such as adjustable suction power, diamond-tipped exfoliation wands, and built-in sensors for optimal treatment have enhanced the performance and safety of these devices. These technological advancements have played a crucial role in expanding the market.
Key Takeaways:
The global microdermabrasion devices market is expected to witness high growth, exhibiting a CAGR of 8.0% over the forecast period (2023-2030). The market is driven by increasing disposable incomes and healthcare expenditures, along with the rising popularity of non-invasive cosmetic procedures.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the microdermabrasion devices market. This can be attributed to factors such as the presence of well-established healthcare infrastructure, high consumer awareness, and the influence of social media on beauty standards. Moreover, the availability of advanced technologies and a large target population seeking aesthetic treatments contribute to the market growth in this region.
Key players operating in the microdermabrasion devices market include DermaSweep Inc., Lifetrons Switzerland AG, Trophy Skin, Silk’n, HoMedics USA LLC, PMD Beauty, Dermaglow, ImageDerm Inc., Clairderm Medical Aesthetics, Sylvan Company, Altair Instruments, Koninklijke Philips, Microderm GLO Skincare USA, Silhouet-Tone, and Edge Systems LLC. These companies are implementing various strategies such as product launches, partnerships, and acquisitions to gain a competitive edge in the market.
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