The Microdermabrasion Devices Market is Estimated To Witness High Growth Owing To Rising Consumer Interest In Anti-Aging Procedures
Market Overview:
Microdermabrasion is a popular skin rejuvenation procedure that uses gentle, mechanical exfoliation to remove the outermost layers of dead skin cells. Microdermabrasion devices are increasingly being adopted as they help diminish signs of aging, improve appearance of wrinkles and scars, reduce pigmentation, and reveal fresher, smoother skin. They are suitable for all skin types and come with minimal side effects.
The microdermabrasion devices market is estimated to be valued at US$ 517.61 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period from 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the microdermabrasion devices market growth is rising consumer interest in anti-aging procedures. As more people are seeking aesthetic solutions to look younger and combat signs of aging, demand for non-invasive rejuvenation treatments like microdermabrasion has increased significantly. Additionally, microdermabrasion devices are easy to use, painless, and offer quicker recovery compared to other aesthetic procedures, making them a popular choice. Their non-invasive nature has further boosted adoption. Manufacturers are also launching new products with improved features to provide better skin treatment outcomes and experience. This is expected to propel the microdermabrasion devices market outlook over the forecast period.
Porter’s Analysis
Threat of new entrants: Low cost of equipment and operation ease allows new entrants however established players hold major market share which act as barrier.
Bargaining power of buyers: Buyers have higher bargaining power due to availability of alternative treatment options however growing popularity of minimally invasive procedures is increasing their dependency.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated equipment however established suppliers have advantage of economies of scale.
Threat of new substitutes: Threat from new substitutes like laser resurfacing, dermabrasion and chemical peels is moderate as they address similar skin concerns but microdermabrasion provides minimally invasive and cost effective solution.
Competitive rivalry: Intense due to presence of major global players and differentiation in technology.
SWOT Analysis
Strength: Minimally invasive nature with minimal downtime. Wide application in treatment of acne, wrinkles and skin rejuvenation.
Weakness: requires repeated sessions to achieve long lasting results. Not advisable for certain skin types.
Opportunity: Growing skin and beauty industry driving demand. Increased preference for non-invasive cosmetic procedures.
Threats: Alternative advanced skin treatment options. Stringent regulatory approvals and quality standards.
Key Takeaways:
The Global Microdermabrasion Devices Market Size is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing demand for non-invasive aesthetics procedures. Rising consumer disposable income and growing preference for aesthetic treatments drove market value to US$ 517.61 Mn in 2023.
Regional analysis The North America dominates the microdermabrasion devices market due to high aesthetic consciousness among consumers and widespread adoption of minimally invasive procedures. Europe holds significant market share due to rising medical tourism and availability of advanced treatment options. Asia Pacific region is expected to grow at fastest pace considering increasing focus of key players and rising medical aesthetics industry in countries like China, India and Japan.
Key players operating in the Microdermabrasion Devices market are DermaSweep Inc., Lifetrons Switzerland AG, Trophy Skin, Silkn, 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. (HydraFacial), among others. Key players are focusing on new product launches and geographic expansion to strengthen market presence.
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