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What is Biggest Trend Currently Witnessed in Home-Use Beauty Devices Market?
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Moreover, the booming geriatric population is also expected to accelerate the home-use beauty devices market at a CAGR of 20.4% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $6,457.4 million in 2019 and it is projected to reach $45,956.3 million revenue by 2030. Old people across the world are increasingly using anti-aging devices to revitalize and tighten skin, owing to the surging need to look younger. According to the World Ageing Population 2020 report, the population of people aged 65 years or above will exceed1.5 billion by 2050.
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The indication segment of the home-use beauty devices market is classified into cleansing, dermarolling, hair growth, hair removal, cellulite reduction, acne treatment, oxygen/facial streaming, skin rejuvenation/anti-aging, and others. Among these, the skin rejuvenation/anti-aging category is expected to exhibit the fastest growth throughout the forecast period, due to the growing use of home-use beauty devices for treating wrinkles, pigmentation, blemishes, age spots, sun-induced freckles, and fine lines. Besides, the zero-downtime offered by these devices after treatment will also facilitate the growth of this category in the upcoming years.
Whereas, the Asia-Pacific (APAC) home-use beauty devices market is expected to demonstrate the fastest growth during the forecast period. This can be attributed to the soaring incidence of skin ailments, mounting disposable income of people, burgeoning aging population, soaring awareness about beauty devices, and rising appearance consciousness of people in the region. Moreover, the accelerating urbanization rate will also contribute to the market growth in the region in the forthcoming years. Additionally, the presence of beauty devices manufacturing companies in China, South Korea, and Japan will also facilitate the market growth in the region in the upcoming years.
Thus, the mounting cases of skin diseases and burgeoning geriatric population will accelerate the adoption of home-use beauty devices in the foreseeable future.
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