Market Overview:
Microdermabrasion devices are used for exfoliating the dead skin cells from the top layer of skin by using fine crystals or aluminum oxide. This enhances skin texture and tone by smoothening the surface of the skin. The procedure helps reduce the appearance of fine lines, wrinkles, stretch marks, pigmentation, uneven texture and skin discoloration without causing any damage to the underlying layers of the skin. Microdermabrasion is a gentle, non-invasive and painless procedure for effective skin resurfacing.
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:
The growing adoption of non-invasive beauty treatments by millennial and working professional is driving the growth of the market. Increasing focus on personal well-being and growing demand for skin rejuvenation treatments are further fueling the demand for microdermabrasion devices. Moreover, rising awareness about various skin care treatments through social media influence is positively impacting the market growth. Manufacturers are constantly focusing on developing innovative microdermabrasion devices with advanced features like adjustable vacuum and crystal settings to achieve desired skin exfoliation. This is expected to offer lucrative growth opportunities over the forecast period.
Porter’s Analysis
Threat of new entrants: Low economies of scale required and high cost of brand building in the microdermabrasion devices market pose moderate barriers to entry.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitute treatments and differentiated products from different manufacturers.
Bargaining power of suppliers: The microdermabrasion devices market has a concentration of suppliers, giving them higher bargaining power.
Threat of new substitutes: Substitutes such as chemical peel, laser resurfacing, and dermabrasion offer competition but microdermabrasion has fewer side effects.
Competitive rivalry: The market is moderately competitive due to presence of many generic manufacturers.
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 aesthetic procedures.
The North America region currently dominates the market and is expected to continue its dominance over the forecast period owing to high consumer spending on aesthetic treatments in the US. The Asia Pacific region is expected to exhibit the highest growth rate during the analysis period owing to rising medical tourism and increasing per capita health expenditure in countries like China and India.
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. DermaSweep Inc. and Edge Systems LLC. dominate the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it