The beauty devices market is being propelled by the rising incidence of skin diseases, increasing awareness of the public about such products, booming geriatric population, and surging appearance consciousness. Resultingly, the sale of such devices generated $50,814.4 million in 2020, which is set to reach $311,039.3 million by 2030, at a 20.6% CAGR between 2021 and 2030 (forecast period). Another key factor that is helping in the industry advance is the rising availability of such products online.
Access Report Summary on Beauty Devices Market Global Industry Analysis and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/beauty-devices-market
The categories on the basis of type are hair removal, acne treatment, cleansing, light-emitting diode (LED) therapy and photorejuvenation, hair growth, cellulite reduction, oxygen/facial steaming, and dermarolling. Among these, the LED therapy and photorejuvanation category generated the highest revenue during 2015–2020 (historical period) because of the usage of these devices for a range of dermatological problems, such as blemishes, pigmentation, wrinkles, age spots, sun-induced freckles, and fine lines. This is why this category will also witness the fastest growth during the forecast period, to retain its dominance.
Another key reason the demand for such devices is rising is the surging awareness about them. To boost their sales, as well as meet the unmet need for such products, medical device companies organize conferences, workshops, and other events to discuss the latest advances in dermatology and promote new and existing devices and treatments. For instance, Legend Pro+, a face and body platform, was launched by Lumines Ltd. in April 2019, which offers effective, long-term, and immediate results with minimal pain and no anesthesia requirement.
In 2020, North America dominated the beauty devices market on account of the high disposable income of people. Moreover, 50 million in the U.S. suffer from acne each year, as per the American Academy of Dermatology (AAD), thereby driving the demand for these devices. Additionally, several market players are headquartered in the region, who are engaging in research and development (R&D) to offer advanced products. Other key reasons for the regional market growth are the rising geriatric population and appearance consciousness.
Hence, with the increasing focus on looks, the market will continue to advance.
