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 4.7 billion by 2024. The major factors driving the European skincare devices market are high awareness among consumers for personal care, adoption of technologically advanced products, aging population, and increasing prevalence of skincare disorders. Also, the usage of chemicals in topical skincare products is further encouraging the European population to adopt devices for skincare. Laser-based devices, electrosurgical devices, light-based devices, liposuction devices are the major contributor to the skincare devices industry in the region.
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The development of portable devices has led to the adoption of skincare devices for home use. Also, due to the high disposable income, the demand for a premium category of products is high in the region, especially in Western Europe. For instance, as per the World Bank data, the GDP per capita of Germany, France, U.K., Italy, and Spain, was USD 23,687.32, USD 22,433.56, USD 27,427.59, USD 20,400.81, and USD 15,323.61 respectively in 2001, which increased to USD 44,469.91, USD 38,476.66, USD 39,720.44, USD 31,952.98, 28,156.82 in 2017.
Geographically, Germany is the largest skincare devices market in Europe. The large consumer base, high disposable income and robust economy of the country lead to the largest share of the country in the region. The market in France is anticipated to grow at the highest CAGR of 12.9% during the forecast period. Presence of a large number of industry players, 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.
Key players in the skincare devices industry are investing in the advancements of technology to provide better treatment options. Some of the players operating in the European market are Galderma SA, Merz Pharma GmbH & Co. KGaA, Lumenis Ltd., Alma Lasers Ltd., PhotoMedex Inc., Hologic Inc., Syneron Medical Ltd., Panasonic Corporation, Classys Inc. and Irisiome SAS.
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