The global skin tightening market is expected to reach US$ 2,350.22 million in 2027 from US$ 1,350.40 million in 2019. The market is estimated to grow with a CAGR of 7.3% from 2020 to 2027. The growth of the market is attributed to some key driving factors such as increasing cosmetic procedures, and growing aging population. However, high cost of cosmetic procedures is expected to obstruct the growth of the market to a certain extent during the forecast years.
Skin tightening is a cosmetic procedure used to change the external appearance of face, stomach, and, among other body parts.Skin tightening is a non-invasive/minimally invasive procedure and has fewer complications with fast recovery.
Radiofrequency devices, intense pulsed light, ultrasound devices for home use, and others are the devices used for skin tightening procedures.
Aging reduces the levels of collagen, elastin, and hyaluronic acid in the body, which are essential building blocks of skin layers.These proteins provide structure to the dermis and keep the skin firm and tight.
Reduction in levels of these proteins results in thinner and saggy looking skin.Thus, elderly population prefers undergoing skin tightening procedures.
As per the WHO, by 2050, the world population with age 60 and more is expected to reach 2 billion, from 900 million in 2015.It also estimated that by 2050, there would be ~434 million people aged 80 years or more in the world.
Thus, with the rising elderly populations, the demand for skin tightening surgeries is also increasing. The increasing geriatric population is likely to propel the growth of skin tightening market during the forecast period.
In terms of product type the radiofrequency segment held the largest share of the market in 2019; whereas, the laser skin tightening segment is expected to grow at the fastest CAGR during the forecast period.The growth of the laser-tightening segment is attributed to increasing adoption of this method owing to its extended range of advantages as lasers are considered to have multiple benefits and improve the texture and other problems on the skin such as acne, fine lines, wrinkles, and scarring.
Moreover, the ease of use facilitated by these devices makes them ideal to be used by healthcare professionals across the world, which, in turn is projected to drive the growth of the segment during the forecast period.
The COVID-19 pandemic was first reported in December 2019 in Wuhan (China) and is causing massive disruptions in global supply chains, consumer markets, and the economy as a whole. As the healthcare sector is focusing on saving life of patients suffering from COVID-19, the demand for skin tightening is reducing worldwide.
The International Society of Aesthetic Plastic Surgery (IASPS), the World Health Organization (WHO), European Union (EU), Organization for Economic Co-operation and Development, Emirates Standardization and Meteorological Authority (ESMA), British Association of Aesthetic Plastic Surgeons (BAAPS), US Food and Drug Administration (FDA), and Japan TB Surveillance System are a few of the prime secondary sources referred to while preparing this report.
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