What are prominent factors that drive the growth of the Global Beauty Devices Market throughout Over 2021-2028?

Beauty devices are used to treat skin-related problems such as acne and wrinkles. Moreover, they are also used to eliminate the scars caused due to injury. They are also used to treat hair related problems such as hair fall, greying hair, etc. These devices are a result of advancements in skincare devices technology.

The global Beauty devices market was accounted for US$ 45,573.5 Mn in terms of value by the end of 2019

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Competitive Section:

Company Names

L'Oréal Group
Nu Skin Enterprises, Inc.
Panasonic Corporation
Home Skinovations, Ltd.
PhotoMedex, Inc.
Carol Cole Company
Procter & Gamble Company
Koninklijke Philips N.V.
TRIA Beauty, Inc.
AmorePacific Group
Drivers:

Increasing aging population is a prime factor fueling the market growth of the beauty devices. Aging is associated with the loss of the fibrous tissue. The skin layer started reducing vascular and glandular networks which leads to wrinkles, pigmentation and sagging of the skin. According to the United Nations, by 2050, one in six people in the world will be over age 65 (16%), up from one in 11 in 2019 (9%). Thus, the rise in the aging population is projected to foster the market growth of beauty devices.

Increasing awareness regarding personal hygiene is propelling the market growth of the beauty device. The rise in the urban population coupled with the increasing penetration of personal care products across emerging nations is again expected to foster market growth. Also, rapid adoption of such products across consumers due to effectiveness and benefits offered by these products are further anticipated to augment the market growth of the beauty devices.

Figure 1. Global Beauty Devices Market, Revenue Share (%), By Region, 2019

Beauty Devices | Coherent Market Insights

North America region dominated the global beauty devices market in 2019, accounting for 51.8% share in terms of value, followed by Asia Pacific and Europe, respectively

Market Restraints

Side-effects associated with beauty devices such as excessive swelling, superficial burn, and blistering is expected to restrict the adoption of such devices. These factors are expected to hinder the market growth of the beauty device over the forecast period.

Lack of awareness regarding the benefits of beauty devices across developing countries of rural areas is expected to inhibit the market growth over the forecast period.

Beauty Devices Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 45,573.5 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 18.7% 2027 Value Projection: US$ 179,729.8 Mn
Geographies covered:
North America
Europe
China
Rest of Asia Pacific
Latin America
Rest of the World
Segments covered:
By Type: Hair Removal Devices, Cleansing Devices, Acne Devices, Rejuvenation Devices, Light/LED Therapy and Photorejuvenation Devices, Oxygen and Steamer Devices, Hair Growth Devices, Skin Dermal Devices, Cellulite Reduction Devices, and Others
By Usage Area: Salon, spa, at home and others
Companies covered:
L’Oreal Group, Nu Skin Enterprise, Inc., Panasonic Corporation, Home Skinovations, Ltd., PhotoMedex, Inc., Carol Cole Company, Procter & Gamble Company, Koninklijke Philips N.V., TRIA Beauty, Inc., AmorePacific Group

Growth Drivers:
Increasing awareness regarding personal hygiene is propelling the market growth
Increasing aging population is a prime factor fueling the market growth of the beauty devices.
Restraints & Challenges:
Side-effects associated with beauty devices restraints the market growth
Market Opportunities

The expansion of salon and beauty care centers around the globe is projected to bring new market opportunities in the near future. Growing pollution is again increasing the prevalence of various skin diseases which is also creating demand for beauty devices. Moreover, growing awareness regarding scars treatment caused due to injury is further anticipated to foster the market growth of the beauty device over the forecast period.

Continuous product innovation is expected to create lucrative growth opportunities for the market in the near future. For instance, in February 2019, Alma Lasers launches a new hair removal device, the Soprano Titanium. The device features the company’s new Quattro 3D applicator handpiece, which has a spot size of 4cm and delivers three laser wavelengths: 755 nm, 810 nm, and 1064 nm to treat all skin types. Moreover, it also features a dual connector that allows two different applicators to be connected to the platform at all times.

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Figure 2. Global Beauty Devices Market – Opportunity Analysis

Beauty Devices | Coherent Market Insights

Market Trends/Key Takeaways

Increasing preferences for at-home beauty devices that are easy to use for acne and hair removal is one of the growing trends. At-home beauty devices are portable and easy to use. They are gaining huge demand due to increasing availability of home solutions. These devices are witnessing tremendous demand on the account of a rise in the young population and middle age population around the globe.

Changing lifestyle coupled with the growing disposable income is projected to bolster the market growth of the beauty devices. Improving living of standard and constantly changing fashion trends are two other major factors propelling the market growth of the beauty devices. Also, an increasing number of working women is further creating demand for such devices thereby fueling the market growth of the beauty devices.

Figure 3. Global Beauty Devices Market, Revenue Share (%), By Type in 2019

Beauty Devices | Coherent Market Insights

The hair removal device segment dominated the global beauty devices market in 2019, accounting for 20% share in terms of value, followed by cleansing and acne device segment respectively

Global Beauty Device Market - Impact of Coronavirus (Covid-19) Pandemic

The novel Coronavirus (COVID-19) has impacted almost all the industries globally including personal care products market. There is an increased demand for beauty and personal care products during the pandemic period owing to rising trends of home use and portable beauty devices.

Few Recent Developments

In January 2020, L’Oréal introduced Perso, a smart device that makes beauty personal. The smart skincare system is capable of providing personalized skincare solutions via a four-step process.

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