Global Beauty Devices Market Size To Grow USD 115.87 Bn By 2027

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From USD 46.18 billion in 2022 to USD 115.87 billion in 2027, the worldwide beauty devices market is expected to develop at a CAGR of 20.2% from 2022 to 2027.

During the COVID-19 epidemic, worldwide lockdowns and partial industrial closures wreaked havoc on production plants. As COVID-19 spreads worldwide, companies have taken drastic steps, including industry closures, to limit the virus’s spread and protect employees’ safety. As a result, the supply of beauty gadgets has diminished due to the pandemic, which has had a negative impact on market growth in the short term. However, in the fourth quarter of 2020, these products experienced a significant increase in sales due to the restoration of industrial activity, the removal of lockdowns, the reopening of salons, and the streamlining of imports and exports. Many cosmetic items, such as oxygen and steamer equipment, hair removal devices, acne removal devices, hair growth devices, LED/Light therapy devices, cleansing devices, photo rejuvenation devices, and many more have decreased demand due to this COVID-19 epidemic.

Growing knowledge of the safety profile and benefits of energy-based cosmetic devices, particularly laser-based devices, is one of the primary forces driving the worldwide beauty devices market.

Laser skin tightening, approved by the Food and Drug Administration, can minimize fine lines, wrinkles, and skin laxity (FDA). Other primary drivers fuelling market expansion are rising appearance consciousness, expanding awareness of beauty gadgets, rising prevalence of skin illnesses, growing older population, increasing disposable income, and increasing incidence of hormonal problems. According to recent improvements, existing companies in the beauty device sector are focusing more on new techniques and technologically improved things. Furthermore, the rising prevalence of skin and hair problems, such as photoaging hair and skin, is driving demand for beauty gadgets.

Dermatologists, doctors, and aestheticians are increasingly turning to new and inventive cosmetic products to treat skin conditions, improve skin texture, and reduce aging signs. Beauty gadget makers are constantly designing new items to meet the increased need for sophisticated skincare and haircare solutions.

On the other hand, the availability of suitable substitutes and the negative impacts of beauty devices may limit the global beauty devices market’s growth. Scarring, postoperative erythema, ecchymosis, superficial burns, and edema are all side effects that limit the development of the beauty devices market. Furthermore, during the forecast period, the high cost of beauty devices and panels is likely to restrict their use and hinder the growth of the global beauty devices market. Soreness, bruising, excessive swelling, fragile skin, and blistering are some of the risks connected with photo rejuvenation devices, and they provide substantial barriers to the global beauty devices market’s growth.

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KEY MARKET INSIGHTS:

  • In 2020, Hair Removal Devices, among other sectors, held the most significant proportion of the global beauty devices market. The most considerable percentage of hair removal equipment is related to an increase in hormonal imbalance cases, particularly the worldwide prevalence of polycystic ovary syndrome (PCOS), the most frequent hormonal disorder among women that stimulates facial hair formation. Furthermore, the availability of various hair removal devices, such as trimmers, clippers, epilators, and shavers, provides consumers with various options and reflects the device’s most significant market share.
  • Because of the growing millennial population, countries like China, India, and Vietnam present substantial potential opportunities for market players in the Asia-Pacific area. In addition, hair care solutions are emerging as the most affluent and cost-effective solution for consumers concerned about hair thinning, volume loss, dryness, and other hair-related issues. Due to the robust performance of its core brands, such as Dove and Sunsilk, Unilever retained its market leadership in India. At the same time, Patanjali Ayurved recorded the most significant sales gain in 2019.
  • Furthermore, increased awareness of cosmetics items such as face makeup, hairstyling, and coloring products is expected to boost the market’s growth in the near future. As price-conscious consumers pick goods that provide hydration and skin protection, the desire for multipurpose products drives innovation. Companies continuously advertise medical cosmetics, particularly on social media platforms like Facebook, Twitter, YouTube, and Instagram, where beauty bloggers are trendy. Avon Products, Inc., Beiersdorf AG, L’Oreal Group, Procter & Gamble, The Estée Lauder Companies Inc., and Unilever are the top participants in the Asia-Pacific beauty and personal care products industry.
  • North America is expected to lead the worldwide beauty device market in 2020, followed by Europe and Asia-Pacific. This is primarily due to the high disposable income in the region, which encourages customers to spend more on personal care goods. In addition, as their concerns about their appearance grow, customers are more likely to purchase modern cosmetic equipment.
  • Pigmentation, wrinkles, creases, and acne are all common in the general populace, as are burn scars from accidents. More than 5.1 million persons, primarily children, and young adults, sought medical treatment for acne in 2013. The expenses of treatment and lost productivity among those who sought medical care for acne were more than US$ 1.2 billion.
  • Furthermore, atopic dermatitis affects one out of every ten persons at some point in their lives, affecting up to 25% of children and 2–3% of adults. Furthermore, more than a quarter (28%) of women under the age of 25 admit to worrying about their symptoms of aging frequently, with this proportion rising to 42 percent for those aged 25–34 and 54 percent for those aged 35–44. Furthermore, according to a Dermstore poll of 2,000 women in the United States, young women began using anti-aging products far sooner than older women.
  • The number of target consumers with symptoms of aging, such as lack of skin elasticity, wrinkles, and dark spots, is expected to rise as the population aged 30–65 years grows quicker. Furthermore, the World Health Organization (WHO) predicts a 56 percent increase in the number of individuals aged 60 and up from 2015 to 2030, from 901 million to 1.4 billion. The aging population is driving the rise of the beauty device sector because it causes the loss of fibrous tissue and a deterioration in the vascular and glandular network in the skin’s layers. As a result, demand for beauty devices is likely to rise over the forecast period due to increased skin problems.
  • The increasing use of beauty devices in medical treatment settings in North America is expected to drive the market for beauty devices. The country’s burgeoning medical device industry provides a profitable opportunity and a well-established market for beauty gadgets.
  • Some of the noteworthy companies in the global beauty devices market profiled in this report are L’Oreal S.A., Nu Skin Enterprises, Panasonic Corporation, Syneron Medical Ltd, Home Skinovations Ltd, TRIA Beauty Inc., Procter & Gamble Co, and PhotoMedex Inc.

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SEGMENTS COVERED UNDER THIS REPORT:

By Type:

  • Acne Devices
  • Hair Removal Devices
  • Hair Growth Devices
  • Cleansing Devices
  • Oxygen and Steamer Devices
  • Rejuvenation Devices
  • Others

By Application:

By Region:

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • UK
    • Germany
    • Italy
    • Spain
    • France
    • Rest of EU
  • APAC
    • India
    • China
    • Japan
    • South Korea
    • ANZ
    • Rest of APAC
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Chile
    • Rest of Latin America
  • Middle East & Africa

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