Europe Skincare Devices Market to Witness 11.5% CAGR during 2019–2024

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 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 has increased significantly over the last decade.

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In terms of the distribution channels, 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.

The French skincare devices market is anticipated to grow at the highest CAGR of 12.9% during the forecast period. The 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.

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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.

Source: VynZ Research