In a recent published report, Kenneth Research has updated the market report for Skin Tightening Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Skin Tightening Market products.
Recently, a significant growth in healthcare spending have been observed in the low- and middle-income nations. In the middle-income nations, healthcare spending rose by 6.3% a year between 2000 and 2017, while the economy rose by 5.9% a year. Additionally, health spending in low-income countries also observed a growth by 7.8% a year in the same period. The growth in the healthcare spending of these nations can be attributed to the increasing focus of the governments in these nations to meet the laid down targets of the Sustainable Development Goals (SDGs) of 2030. Such factors are anticipated to drive the growth of the Skin Tightening Market during the forecast period.
Market Scenario
The Global Skin Tightening Market is expected to register a CAGR of 6.2% during the forecast period of 2019 to 2025, with a market value of USD 6,340.99 million by 2025.Skin tightening treatment is a minimally invasive procedure that uses various methods to tighten skin such as radiofrequency, laser, ultrasound, and other methods encourage the production of new collagen and elastin, the two proteins which helps the skin to stay firm, smooth and tight. Thereby giving skin a more youthful appearance.Additionally, the growing medical aesthetics market along with the increasing awareness programs dedicated to the importance of skin health are anticipated to fuel the market growth.
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For instance, according to the Allergan Global Beauty Survey, esthetic treatments have become more socially acceptable in recent years. Around 71% of the people in the survey have admitted to being worried about wrinkles, while 41% are considering undergoing various medical esthetic treatments. On the other hand, exposure to radiations during the skin tightening procedures involve high health risks and strict regulations policies for aesthetics in healthcare are projected to hamper the growth of the market during the assessment period.
Moreover, major companies in the market are involved in strategic acquisitions, collaborations, and product innovations to sustain their position in the market. For instance, in April 2019, Alma Lasers launched a third-generation liposuction solution, which is a complete all-in-one solution covering all stages of liposuction, skin tightening, and fat grafting procedures with maximum safety and clinically proven results.
Segmentation
The global skin tightening market has been segmented based on type, portability, application, end user, and region.The market, based on type, has been bifurcated into radiofrequency skin tightening, laser skin tightening, ultrasound skin tightening, and others. The radiofrequency skin tightening segment is expected to hold a major share in the market due to the wider preferability and long-lasting effective results in skin tightening. The laser skin tightening segment is anticipated to be the second-largest market due to the growing expenditure on cosmetic surgeries.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The skin tightening market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European skin tightening market has been sub-divided into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The skin tightening market in Asia-Pacific has been segregated into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The skin tightening market in the Middle East & Africa has been divided into the Middle East & Africa.
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Key Players
Solta Medical
Alma Lasers
Fotona d.o.o.
Lynton Lasers
ALLERGAN
BTL
EINS MED Co.
ENDYMED MEDICAL
SMARTERSKIN DERMATOLOGY
INMODE
Venus Concept
Regional Market Summary
Source: World Health Organization (WHO)
The market in the Americas is expected to dominate the global skin tightening market due to the increasing per capita healthcare expenditure and the high adoption of new technology in the region. Higher cases of people becoming more conscious of their appearance are expected to drive market growth. Furthermore, according to the Annual Plastic Surgery Procedural Statistics, in 2017, there were 17.5 million surgical and minimally invasive cosmetic procedures performed in the US alone.
The market in Europe showed a considerable amount of growth. This can be attributed to the presence of a well-established aesthetics healthcare system, an increasing awareness of skin health, and the involvement of key companies. For instance, in September 2018, Allergan agreed to acquire Bonti to add rapid-acting short-duration botulinum neurotoxin serotype E toxin programs to the research & development pipeline and increasing the consumer base by providing on-demand treatment.
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Therefore, the market is expected to grow during the forecast period. The market in Asia-Pacific is projected to have a steady growth rate during the forecast period owing to the increasing pool of consumer population and increasing government initiatives for aesthetics healthcare reforms. The market in the Middle East & Africa is projected to account for the least share of the global market due to low per capita disposable incomes in the region.
Global Skin Tightening Market, by Type
Radio Frequency Skin Tightening
Laser Skin Tightening
Ultrasound Skin Tightening
Others
Global Skin Tightening Market, by Portability
Portable
Stand-Alone
Global Skin Tightening Market, by Application
Reduce Wrinkles
Face Lifting
Anti-Aging
Others
Global Skin Tightening Market, by End User
Hospitals & Clinics
Specialty center
Others
Global Skin Tightening Market, by Region
Americas
North America
US
Canada
Latin America
Europe
Western Europe
Germany
France
Italy
Spain
UK
Rest of Western Europe
Eastern Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Middle East
Africa
Intended Audience
Research and development (R&D) companies
Medical device companies
Government research institutes
Academic institutes and universities
Specialty center
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