NEW YORK, Sept. 16, 2021 /PRNewswire/ -- The global home-use beauty devices market value is set to reach $89,535.1 million in 2030 from $9,571.6 million in 2020, at a 25.1% CAGR between 2020 and 2030, according to the market research report published by P&S Intelligence.
The market is advancing because of:
Booming Geriatric Population: Age has drastic effects on appearance, in the form of stretch marks, fine lines, wrinkles, loose skin, pigmentary alteration, and dryness. As a result and due to the growing effort on looking young and beautiful, the elderly are procuring home-use beauty devices in massive volumes.
Rising Dermatological Disease Prevalence: Another key driver for the home-use beauty devices market is the increasing number of people suffering from photo-aging, acne, dyspigmentation, hyperpigmentation, psoriasis, deep wrinkles, freckles, atopic dermatitis, and melasma, all of which harm the skin and physical appearance. Many such diseases can be treated or managed with the help of beauty devices, which is why their sales are increasing.
During the COVID-19 pandemic, the home-use beauty devices market witnessed a negative impact, as the manufacturing of all non-essential products was curtailed during the lockdowns. Moreover, people were forced to stay home, which reduced their need to look good and young to some extent. Further, as many people lost their jobs or were working for smaller paychecks, they did not spend much on such products.
The laser/light category will account for the highest home-use beauty devices market revenue in the coming years, based on technology. Lasers are widely used for reducing the inflammation and redness associated with rosacea and acne, while keeping the area unaffected by these diseases unharmed. Moreover, laser devices boost the production of fibroblasts, which results in an increase in the volume of collagen. This ultimately makes the skin fresher, younger-looking, and firmer, thereby enhancing the overall appearance.
In the years to come, the skin rejuvenation category will witness the fastest growth in the home-use beauty devices market, under the indication segment. The surging focus of people on the improvement of their overall skin health is making them purchase devices that can treat blemishes, wrinkles, pigmentation, sun-induced freckles, fine lines, and age spots.
North America held the largest share in the home-use beauty devices market in the past as a result of the rising appearance consciousness and high disposable income, which boost the spending on a comprehensive beauty regimen. Moreover, many medical and aesthetic device companies are headquartered in the region, which are now focusing on beauty devices that can be conveniently used at homes.
The most-significant companies in the global home-use beauty devices market are Panasonic Corporation, TRIA Beauty Inc., Nu Skin Enterprises Inc., Home Skinovations Ltd., L'Oréal SA, Carol Cole Company Inc., Candela Corporation, MTG Co. Ltd., YA-MAN LTD., Koninklijke Philips N.V., Spectrum Brands Holdings Inc., LightStim, Conair Corporation, Project E Beauty, Amorepacific Corporation, Dr. Dennis Gross Skincare LLC, FOREO AB, Beauty Bioscience Inc., Cyden Limited, and The Procter & Gamble Company.
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Beauty Devices Market Report - In 2020, North America dominated the beauty devices market on account of the high disposable income of people. Moreover, 50 million in the U.S. suffer from acne each year, as per the American Academy of Dermatology (AAD), thereby driving the demand for these devices.
U.S. Beauty Devices Market Report - Factors such as booming geriatric population, increasing disposable income, and rising cases of skin diseases will drive the U.S. beauty devices market at a CAGR of 18.3% during the forecast period.
Skincare Devices Market Report - Globally, the skincare devices market is predicted to demonstrate the highest growth rate in Asia-Pacific in the future. This would be because of the presence of a large population, the increasing incidence of obesity and skin diseases, and surging geriatric population in the region.
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