Beauty Devices Market Size to Hit USD 70.89 Billion by 2030 at 11.8% CAGR – Report by Market Research Future (MRFR)

New York, USA, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Beauty Devices Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), "Beauty Devices Market Information by Product, End-User and Region - Forecast till 2030", the market size was valued USD 34.7 billion in 2021 and is expected to reach USD 70.89 billion by 2030 at 11.8% CAGR during the forecast period 2022-2030.

Market Synopsis

A variety of beauty devices are sold in the market, all of which are used extensively for treating pigmentation, acne, age spots, blemishes, freckles, and wrinkles. These cover a lot of skin-related problems among the women population worldwide. The global beauty devices industry has been burgeoning owing to the surging prominence of various skin diseases, the mounting number of injuries and road accidents leading to scars, and the mushrooming geriatric population. The skin issues arising from excessive exposure to sun rays also raise the need for using beauty devices, which will bolster the market demand in the years to come.

There are numerous benefits associated with skincare devices, as they help enhance, treat and bolster skin appearance. There are beauty devices in the market for hair, skin, feet, hand, and more. These tools are sold by salons, spas, and also at shops to be used at home as services.

Beauty devices find a lot of important applications in cleansing, treating acne, and healing damage. Hair beauty devices are used for opening hair follicles, cleaning, repairing, and strengthening the hair. All these impressive features of skin care tools attract a large portion of the worldwide population, thereby enhancing the beauty devices market size.

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Report Scope:

Beauty Devices Market Competitive Landscape:

The affluent firms in the beauty devices industry are

• Tria Beauty Inc
• L'Oreal S.A
• PhotoMedex Inc
• Nu Skin Enterprises
• Procter & Gamble Co
• Panasonic Corporation
• TRIA Beauty Inc
• Syneron Medical Ltd
• Home Skinovations Ltd

Beauty Devices Market Dynamics:

Market Drivers:

Rapid rise in skin issues such as photoaging due to over-exposure to pollution along with ultraviolet (UV) radiation has been seen worldwide over the years. These result in sunburns, less skin elasticity and hair loss. Skin diseases can also happen owing to excessive intake of alcohol, tobacco, and bad eating habits. Acne, hyperpigmentation, dyspigmentation, psoriasis, freckles, deep wrinkles, atopic dermatitis, and melasma are a few common skin issues that have become major concerns among people. In view of the dramatic rise in these skin disorders, the need for beauty devices has escalated tremendously, leading to substantial market growth.

Introduction of highly innovative beauty products in the market allows dermatologists, clinicians, and aestheticians to offer efficient treatment for various skin diseases. These innovative products also help cut down aging signs and bolster skin texture. Beauty device manufacturers are focused on product innovation to accommodate the surging demand for effective skincare solutions. 

The rise in technological innovations along with their rising uptake will accelerate the growth of the body contouring market. To illustrate, in May 2022, Revelle Aesthetics Inc., a Silicon Valley MedTech firm with expertise in developing precision technologies targeting the root cause of aesthetic concerns among women, introduced Avéli, a cellulite device. Revelle's focus is on developing smart aesthetic solutions to deliver effective results for their female customers and great outcomes for practitioners. Avéli is an advanced FDA-approved device that helps bring down the appearance of cellulite on thighs and buttocks in a single-time procedure.

Market Restraints:

Challenges in the form of unaffordability of the available devices along with poor reimbursement regulations and policies in emerging regions will slow down the growth rate of the industry.

Another challenge will be the lack of skilled medical professionals and technicians in emerging countries. Also, the absence of an established, seamless supply chain can reduce the value of the worldwide market in the years to come.

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COVID 19 Analysis

The COVID-19 outbreak's notable impact has led to various repercussions on the health status of people across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.

Around the world, the rising cases have spurred mental, and economic issues, especially among the elderly. Additionally, the younger populace has been dealing with challenges owing to loss of livelihoods and is opting for family care to address the repercussions. The focus is largely on the treatment of COVID-19 and the development of a vaccine, which steers attention away from other markets.

Beauty Devices Market Segmentation

By Type

Beauty devices come in various types, some of which include skin care, oral care, hair care, and more. The hair care-based segments covered in the study are hair styling devices, hair growth devices, hair removal devices, and others. Meanwhile, the types of skin care devices are acne removal devices, cellulite reduction devices, light/led and photo rejuvenation therapy devices, and others. Key applications of beauty devices are commercial purposes and more. Commercial applications are hospitals/clinics, salons/spas, and others

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By End-User

The top end users listed are personalized and professional.

Beauty Devices Market Regional Insights

The American market is the clear winner, thanks to the well-developed healthcare infrastructure, the accelerated number of patients dealing with PCOS, and the burgeoning elderly population. The strong government support with respect to research & development activities, and the high concentration of affluent contenders in the region also bolster business growth.

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The Asia Pacific is the fastest developing market, in view of the advances in the healthcare infrastructure and the enormous patient base. The scaling healthcare expenditure and the rampant need for more effective treatment methods across India and China are also likely to favor the APAC market between 2022 and 2030.

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