Beauty Devices Market: Growing Applications of Beauty Devices in Healthcare to Drive Beauty Devices Industry
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Leading companies operating in the beauty devices marketare NuFACE, L'OREAL GROUP, Procter &Gamble,Koninklijke Philips N.V., Panasonic Corporation, TRIA BEAUTY, FOREO, YA-MAN LTD, ZIIP, Silk’n, Nu Skin Enterprises, Inc.,MTGCo.,Ltd among others.
The global beauty devices market, based on the device type, is segmented into hair removal devices, cleansing devices, hair growth devices, rejuvenation devices, light/LED therapy and photorejuvenation devices, acne devices, skin dermal rollers, others.The hair removal devicessegment held the largest share of the market in 2019. Whereas, the light/LED therapy and photorejuvenation devices segment is estimated to register the highest CAGR in the market during the forecast period owing to their increasing usage in home applications. Moreover, LED light therapy is gaining popularity in both dermatologist offices and at home. Using different LED wavelengths, this skincare technique helps in treating acne, reduce inflammation, and promote anti-aging effects.
As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement.
Increasing work hours and changing lifestyle have contributed to rising levels of stress, resulting in several issues on outward appearance, especially on the skin and hair. Also, the increasing level of pollution shows detrimental effects on an individual’s physical appearance. These issues can be controlled with the use of RF roller and blue light devices for acne. Customers have continued to show keen interest in experiencing beauty and wellness services to rejuvenate their body. Thus, international grooming products and services at home have gained popularity to a great extent.
Age-related skin issues, such as pigmentation, wrinkles, creases, and acne, as well as burn scars due to accidents are extremely common among masses. According to the American Academy of Dermatology Association, acne is the most common skin condition in the US, affecting about 50 million Americans annually. Approximately 85% of people between the ages of 12 and 24 experience the onset of minor acne. The costs associated with the treatment and lost productivity among those who sought medical care for acne exceeded US$ 1.2 billion, and more than 5.1 million people had sought medical treatment for acne, primarily children and young adults, in 2013.
Moreover, one in 10 people develop atopic dermatitis during their lifetime, and it affects up to 25% of children and 2– 3% of adults. Furthermore, over a quarter (28%) of women under 25 even admit that they regularly worry about their signs of aging, and this number has increased to 42% for those aged 25–34 and 54% for those aged 35–44. In addition, the poll of 2,000 women across the US, conducted by Dermstore, found that the young women have started using products to reduce the signs of aging much sooner than older women.
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