Beauty Devices Market -Overview
Beauty devices are products that help to improve one’s physical appearance. These gadgets aid in the treatment of skin and hair problems. Beauty devices Market promises a CAGR of 12.5% in its forecast period of 2021-2028. Market to reach USD 50.40 Billion by 2028. According to the latest trends in the beauty devices market, prevailing companies are focusing more on distinguishing methods and technologically advanced gadgets.
These beauty gadgets have pledged to deliver the same level of service as any cosmetic procedure. The beauty devices market is being driven by rising aged population, rising hormonal disorders, high disposable income, intensifying prevalence of skin and hair concerns, rising awareness of beauty devices and services, and enormous technological innovation. The target audience for the global beauty devices market includes product manufacturers, research and development companies, hospitals and laboratories, beauty devices manufacturers, market research laboratories, and academic and medical institutes.
Consumers are accepting of these beautification devices. Beauty gadgets have piqued the market’s interest as technology advances in nearly every part of life, resulting in customers’ greater adoption of these technologically advanced products. Hair removal devices have the biggest market share among cosmetic devices, owing to the rising prevalence of polycystic ovary syndrome (PCOS) and hormonal issues among women.
The presence of viable substitutes and adverse effects from beauty gadgets, on the other hand, may limit the market’s upward movement during the review period.
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The segmentation in the beauty devices market is done by type, end-user and application. By type, the segmentation is done by hair care, oral care and skin care. Haircare is further segmented into hair growth devices, styling devices and others. Skincare is further segmented into cellulite reduction devices, light/LED and photo-rejuvenation therapy, acne removal devices and others. On the basis of application, the segmentation is done for commercial purposes and others. The commercial purpose segmentation is done for salons/spas, and hospitals/clinics. On the basis of end-user, the segmentation is done into personalized and professional.
Detailed Regional Analysis
In terms of region, the beauty devices market in 2020 was dominated by North America. This is primarily due to the region’s high disposable income, which drives up personal care product spending. Furthermore, as people become more mindful of their looks, they are adopting more technologically advanced beauty equipment.
Owing to various government support for research and development and the availability of funds for research, Europe ranks second in the global beauty devices industry. Over the foreseeable term, this is expected to continue to drive the European market. Countries such as Germany and France, for example, are expanding their investments in healthcare and beauty.
The beauty devices market in Asia-Pacific (APAC) is predicted to develop at the fastest rate during the forecast period. This is mostly due to an increase in the senior population and increased knowledge of cosmetic gadgets for the treatment of skin disorders. Furthermore, the availability of well-known brands and the launch of less-expensive cosmetic devices in the region encourage individuals to use them for a variety of grooming needs. The easy availability of branded cosmetic devices on internet channels, specifically on a single portal, further propels market expansion. Furthermore, the rising demand for innovative treatment approaches in nations such as India and China are expected to emerge as the world’s fastest expanding market. Furthermore, rising demand for high-quality healthcare devices is expected to lead to increased use of innovative equipment, which would boost the market for acquired aplastic anemia in the region. Because of its rapid economic development and elderly population, China has the greatest market share in the Asia Pacific area.
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The Middle East and Africa, on the other hand, are expected to have luxurious growth in the future years. The use of beauty devices is prevalent across all age groups, based on consumer knowledge.
Some of the key players in the beauty devices market are Nu Skin Enterprises, L’Oreal S.A., Panasonic Corporation, Home Skinovations Ltd., Syneron Medical Ltd., TRIA Beauty Inc., PhotoMedex Inc, Procter & Gamble Co.
In August 2021, a Korean beauty start-up called Lillycover started expanding its robotic customized beauty system beyond skincare. They are planning to branch out into color cosmetics and scalp care.
In August 2021, Estee Lauder filed a duo patent for heating and cooling medical devices.
Table Of Content
1. Beauty Devices Market Report Prologue
2. Beauty Devices Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3. Beauty Devices Market Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Beauty Devices Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
5. Beauty Devices Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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