Wilmington, Delaware, United States, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global beauty devices market is projected to expand at a CAGR of 6.0% from 2023 to 2031, according to Transparency Market Research.
Prevalence of various skin-related issues, such as wrinkles, fine lines, hyperpigmentation, acne, loss of firmness, dullness, cellulite and stretch marks, puffiness, and thinning hair, has increased among people in the past few years across the globe. Hence, demand for various types of beauty devices has risen, as these devices play a key role in the treatment of skin issues. Rise in demand for beauty devices from salons, beauty clinics, home settings, and dermatological facilities presents significant growth opportunities in the market.
Beauty Devices Market: Key Findings
- Light therapy devices utilize a wide range of light wavelengths to target specific skin parts and promote improved health of skin, which absorbs the light energy. The skin utilizes this energy to stimulate cellular processes helpful in improving the skin tone and lessening the appearance of wrinkles & fine lines, promoting collagen production, and reducing inflammation. As per the TMR research report on the beauty devices market trends, the light therapy devices segment is estimated to account for significant share of the global industry during the forecast period. This can be ascribed to increase in utilization of light therapy devices in the treatment of varied skin conditions, such as fine lines, wrinkles, blemishes, pigmentation, and age spots.
- Cases of acne, photo aging, deep wrinkles, hyperpigmentation, atopic dermatitis, melisma, and psoriasis, have increased in the past few years among people from across the globe. Beauty devices are being increasingly utilized in the treatment of these skin conditions owing to their effectiveness. This factor is creating opportunities in the market.
- Increase in accessibility to online information related to beauty and products, rise of social media, and surge in understanding about advantages of beauty devices are propelling market development. Older people are at higher risk of decreased vascularity and fibrous tissues in their skin layers. Hence, increase in this population base is expected to drive the demand for beauty devices in the next few years.
- Beauty devices offer a wide range of advantages. For instance, laser-based beauty devices are less invasive than conventional surgical esthetic procedures. Demand for microdermabrasion tools, skin tightening devices, and at-home LED light therapy devices has increased in the past few years, as consumers are inclining toward adopting various technologies in order to improve their appearance and skin health from the comfort of their home. These factors are likely to create substantial growth opportunities in the market.
- App-connected beauty devices are gaining traction owing to their ability to allow users to monitor pH, texture, pigmentation, oiliness, and moisture content of their skin. Moreover, apps can guide users about the best suitable therapies and products in order to gain healthy skin. Rise in focus of manufacturers on development of advanced devices is likely to improve the market outlook in the next few years.
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Beauty Devices Market: Growth Drivers
- Rise in cases of skin disorders and increase in awareness about advanced treatment solutions is fueling industry growth
- Increase in the older population is expected to bolster business opportunities in the upcoming years
Regional Analysis
- According to the TMR market report on the beauty devices market, Asia Pacific is likely to lead the global industry during the forecast period, owing to increase in cases of hair and skin-related diseases, improved spending power, and rise in the population of older people
- The North America market is projected to expand at a higher CAGR during the forecast period, due to increase in spending on personal care and rise in accessibility to next-generation cosmetic devices and skin treatments in the region
Beauty Devices Market: Competition Landscape
- Players are increasing usage of online platforms instead of conventional sales channels in order to reach maximum customer base
- They are adopting strategies, such as partnerships, collaborations, and product launch, in order to increase their market share
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Beauty Devices Market: Key Players
- Dr. Dennis Gross Skincare LLC
- Conair LLC
- Koninklijke Philips N.V.
- FOREO
- Lutronic Inc.
- L’Oreal Group
- NuFACE
- Nu Skin Enterprises Inc.
- Tria Beauty Inc.
- Sciton, Inc.
Beauty Devices Market Segmentation
Product Type
- Skin Care Devices
- Light Therapy Devices
- Microcurrent Devices
- Microneedling Devices
- Microdermabrasion Devices
- Dermaplaning Devices
- Cleansing Devices
- Facial Steamers
- Others
- Hair Removal Devices
- Others (Scalp Massage Devices, Oral Care Devices, Eye Massage Devices, etc.)
Category
- Hair Care
- Facial Care
- Body Care
- Others (Eye Care, Tooth Care, Nail Care, etc.)
Price Range
- Low
- Medium
- High/Premium
Consumer Group
- Men
- Women
- Unisex
End-user
- Individual/Residential
- Commercial
- Spas & Massaging Centers
- Beauty Parlors & Salons
- Others (Dermatological Centers, Beauty Institutes, etc.)
Distribution Channel
- Online
- Company Websites
- E-commerce Websites
- Offline
- Specialty Stores
- Mega Retail Stores
- Others (Individual Stores, Departmental Stores, etc.)
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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