New York, USA, April 05, 2023 (GLOBE NEWSWIRE) -- Beauty Devices Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), "Beauty Devices Market Information Application, Products, End Users and Region - Forecast till 2030", the market Size was valued at USD 32.5 billion in 2022 and is projected to grow from USD 36.33 Billion in 2023 to USD 70.95 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.8% during the forecast period (2023 - 2030).
Market Synopsis
The rapid expansion in the beauty devices industry can be attributed by market drivers such as an increased prevalence of skin disorders, an increase in the number of cases of hormonal imbalance, a rise in the aging population, and heightened awareness for beauty devices. Most individuals are familiar with beauty tools and how to use them. Beauty tools have several benefits. They can be applied to treat, enhance, and improve skin appearance. In addition to other items, there are skin, hair, hands, and feet devices.
Beauty devices refer to items that enhance one's appearance. It is easy to use and beneficial for problems with the skin and hair. It provides services for attractiveness that are like those for aesthetics. Today's skin, hair, and aging are increasingly widespread due to UV radiation exposure. Due to sunburns, a decline in the skin's flexibility, and hair loss, customers are encouraged to undergo various cosmetic procedures. These cosmetic tools are widely used in spas, salons, and at-home beauty regimens. Beauty equipment is typically used to improve skin appearance. Depending on their intended use and whether they affect the structure or function of the body, they may or may not be controlled by the Food and Drug Administration (FDA).
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Individuals typically employ beauty equipment for cosmetic or personal health purposes. The number of people using these devices to treat their psoriasis or acne is increasing, which drives the market's expansion. Most people also spend money on beauty tools to eliminate extra body hair. During the upcoming years, it is anticipated that a rise in the senior population, an increase in the prevalence of skin-related problems, and an increase in lifestyle factors will propel the global beauty devices market. Beauty gadgets are used to treat skin-related problems like acne and wrinkles. They are also used to get rid of scars from accidents. They are also used to address problems with the hair, including hair aging and hair loss. These devices were produced as a result of advances in skincare device technology.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 70.95 Billion |
| CAGR | 11.8% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Application, End Users |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing demand for personalized beauty treatments |
| Rising demand for technologically advanced beauty care products |
Beauty Devices Market Competitive Landscape
The prolific companies in the beauty devices market are:
- PhotoMedex Inc
- Nu Skin Enterprises
- Procter & Gamble Co.
- Panasonic Corporation
- Tria Beauty Inc
- L'Oreal S.A.
- TRIA Beauty Inc
- Syneron Medical Ltd
- Home Skinovations Ltd
Beauty Devices Market Trends:
Market Drivers:
An aging population is one major element driving the growth of the global beauty device market. The loss of fibrous tissue is related to aging. The vascular and glandular networks in the skin layer begin to shrink, which causes the skin to wrinkle, turn brown, and sag. The global market for beauty gadgets is expanding as personal hygiene awareness grows. The market is anticipated to develop due to rising urban populations and rising personal care product adoption in emerging economies. As we age, the skin starts to lose vital components. The elderly frequently experience these ailments. Wrinkles, pigmentation, and dryness are all signs of aging. The market for beauty devices is expected to rise due to the beautification gadgets' ability to produce skin that seems younger.
Additionally, it is projected that increased consumer adoption of these products due to their efficacy and advantages will boost the growth of the global market for beauty devices. Hormone imbalances can occur in people due to lifestyle changes and other factors. The market will expand faster because it worsens acne and other skin problems. The number of women experiencing hormonal abnormalities is on the rise. One of the main reasons for hirsutism is an imbalance of hormones. As a result, more people are using cosmetic tools to remove unwanted hair from various body areas.
Market Restraints:
It is anticipated that side effects will limit such devices' use, including excessive swelling, superficial burns, and blistering. Over the projected period, these factors are anticipated to restrain the growth of the global market for beauty devices. Over the projection period, it is anticipated that a lack of understanding of the advantages of beauty gadgets in underdeveloped nations or rural areas will restrain market expansion. However, the lack of consumer education and the fall in penetration in developing and developed nations may soon pose new challenges to the market's expansion for beauty products.
Browse In-depth Market Research Report (110 Pages) on Beauty Devices: https://www.marketresearchfuture.com/reports/beauty-devices-market-562
COVID 19 Analysis
The new coronavirus, including the market for personal care goods, has influenced nearly every industry worldwide. Due to growing home use and portable beauty trends, the demand for cosmetics and personal care items increased throughout the epidemic. To care for the sick population, there has been an increase in the demand for medical supplies. Most medical devices used in primary clinical therapy are respiratory support devices, including oxygen generators, life support machines, and monitoring. A significant increase in demand for medical products, including gloves, masks, and protective eyewear, has also been brought on by COVID-19.
The supply chain for the raw materials needed to make beauty devices has been interrupted by COVID-19 in numerous nations. Also, because the pandemic has caused makers of beauty gadgets to reduce output, the market growth of these products is dropping. As a result, the market for beauty devices is anticipated to be significantly affected by COVID-19.
Beauty Devices Market Segmentation
Based on application, the market for beauty devices is segmented into household, commercial, and other uses.
Hair, skincare, and dental care are among the products in the market segmentation of beauty devices.
The market data for beauty equipment has been divided into professional and personalized categories by end users.
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Beauty Devices Market Regional Insights
The second-largest market for beauty products worldwide is found in Europe. The European market share is primarily driven by high personal grooming spending, rising skin, and hair problems, greater use of technological gadgets, and rising hygiene issues among men and women. Also, integrating cutting-edge technologies and increasing campaigns to increase skin and hair health awareness enhanced regional growth. From 2022 to 2030, the Asia-Pacific beauty devices market will experience the quickest CAGR growth. The market growth of beauty devices is influenced by several factors, including the increasing prevalence of various oral, skin, and hair-related ailments, the growing consumer awareness imposed by social standards of beauty, the growing regional aging population, and the accessibility of many treatment options. Rising living standards, the advent of metrosexual culture, an increase in the number of working women looking for quick haircare solutions, the existence of products with advanced technology, and rising consumer spending power are additional factors influencing the growth of the Asia-Pacific market.
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