by Market Overview:
Microdermabrasion devices help in the exfoliation of the outermost layer of dead skin cells on the epidermis using a stream of Microdermabrasion abrasive tips or crystals. It is an effective method of skin resurfacing and treatment of various skin conditions such as hyperpigmentation, acne scars, age spots, and sun damage. The procedure is known to improve skin tone and texture without side effects.
Market key trends:
Growing adoption of non-invasive aesthetic procedures is augmenting growth of the microdermabrasion devices market. Demand for microdermabrasion devices is increasing owing to benefits such as minimal downtime with no scarring or burning. Additionally, growing geriatric population combined with rising disposable income is also fueling growth of the market. Moreover, increasing preference for home-based self-care devices is expected to offer lucrative growth opportunities over the forecast period. However, alternative techniques such as chemical peels and laser resurfacing could hamper demand for microdermabrasion devices to a certain extent.
Porter’s Analysis
Threat of new entrants: The Microdermabrasion Devices Market Share has low threat of new entrants as it requires high initial investment and established distribution channels. The market also has large and dominant players occupying major market share.
Bargaining power of buyers: Buyers have moderate bargaining power in the market due to availability of various product options at different price points. However, product differentiation and brand loyalty influence buyer decisions.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative raw material and component suppliers in the market. However, suppliers are important for continuous supply of quality products.
Threat of new substitutes: Threat of new substitutes is low as microdermabrasion offers deep exfoliation with minimal pain and downtime compared to other popular skin treatments like chemical peels and laser resurfacing.
Competitive rivalry: Intense due to presence of global and regional players competing on the basis of product quality, features, pricing and marketing strategies.
SWOT Analysis
Strength: Wide application in dermatology clinics and spas for skin rejuvenation. Minimal pain and downtime attracts more customers.
Weakness: High device cost limits adoption. Require trained professionals for procedure.
Opportunity: Growing awareness about skincare and non-invasive treatments. Rising disposable income in developing nations boosts market.
Threats: Strict regulatory approvals and reimbursement policies. Alternative low-cost treatments like chemical peels
Key Takeaways
The global Microdermabrasion Devices Market is expected to witness high growth, exhibiting CAGR of 8.0% over the forecast period, due to increasing awareness about cosmetic procedures and preference for non-surgical treatments.
Regional analysis: North America dominates the global microdermabrasion devices market and is expected to maintain its dominance over the forecast period owing to rise in obesity-induced skin problems and increasing medical tourism. Asia Pacific region is anticipated to grow at the fastest pace due to rising medical tourism, increasing healthcare expenditures and growing medical aesthetics industry.
Key players operating in the Microdermabrasion Devices market are DermaSweep Inc., Lifetrons Switzerland AG, Trophy Skin, Silkâ€TMn, 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. Strategic collaborations, new product launches and geographical expansion are common strategies adopted by major players to gain competitive edge in the market.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
