July 05, 2021
According to a research report titled ‘Asia Pacific Skin Tightening Market Size By End-use, By Product Type, By Portability, Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027’, available with Market Study Report, Asia Pacific skin tightening market is projected to bolster significantly over 2021-2027, garnering a revenue of USD 280 million by the end of the forecast period.
Report findings claim that surge in volume of ageing population, increased healthcare expenditure, rising popularity of non-invasive surgical procedures, and rising consciousness about physical appearance among young population are key factors driving Asia Pacific skin tightening industry growth.
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Furthermore, increase in per-capita income of the general public and improving living standards are raising the demand for luxury procedures such as skincare treatments. In particular, non-invasive skin treatments will witness an increased demand as they safer and more effective, while also being cost friendly and convenient as compared to their invasive counterparts. These factors are further projected to augment the industry remuneration in the upcoming years.
Despite the positive outlook, contingent side effects of skin tightening treatments and high costs associated with the devices are likely to impede the market development in the upcoming years.
Based on product type, Asia Pacific skin tightening market is arrayed into ultrasound, radio frequency and laser skin tightening. Among these, ultrasound skin tightening segment is expected to grow significantly owing to factors such as safe and non-invasive nature of procedures, easy operability, and fast & effective results.
By portability, the business vertical is split into portable and standalone variants. The portable skincare device segment is slated to grow considerably in the upcoming years owing to easy transportability and usability of the product without any professional assistance.
Moving on to the end-user industry, the market segmentation comprises dermatology centers, homecare settings, hospitals and others. The dermatology clinic segment held over 23% of market share in the year 2020, fueled by increasing awareness about benefits of various skincare treatments, and a sharp rise in the number of dermatology centers across the region.
Furthermore, rising popularity of skincare treatments, especially among the ageing population, coupled with discounts and customized skincare treatment options offered by dermatology clinics are also propelling segmental growth.
On the regional front, India is touted to contribute significantly to Asia Pacific skin tightening industry expansion over the forecast period 2021-2027. This can be credited to improving healthcare infrastructure and facilities, as well as increasing per capita income across the region.
Major contenders in the market are Venus Concept Inc., Solta Medical Inc., Project E Beauty, Lynton Lasers Ltd., Cynosure, Cutera Inc., Alma Lasers Ltd. (Sisram Medical Ltd.), Allergan plc, and Beijing Honkon Technologies Co. Ltd.