Global Beauty Devices Market Size Expected to Grow USD 115.87 Billion by 2027

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

During the COVID-19 outbreak, global lockdowns and partial industrial shutdowns have taken their toll on production plants. As COVID-19 spreads around the world, companies have taken drastic measures, including industry shutdowns, to limit the spread of the virus and protect employee safety. As a result, the supply of beauty gadgets has declined due to the pandemic, which has negatively impacted the market growth in the short term. However, in the fourth quarter of 2020, these products saw a significant increase in sales due to the resumption of industrial activity, the lifting of confinements, the reopening of salons and the rationalization of imports and exports. Many cosmetic items, such as oxygen and steam equipment, hair removal devices, acne removal devices, hair growth devices, LED/light therapy devices, cleaning, photorejuvenation devices and many others have decreased demand due to this COVID-19 outbreak.

Growing knowledge about the safety profile and benefits of energy-based cosmetic devices, especially laser-based devices, is one of the major driving forces of the global beauty devices market.

Laser skin tightening, approved by the Food and Drug Administration, can minimize fine lines, wrinkles and sagging skin (FDA). Other major drivers for the expansion of the market are rising awareness of appearance, increasing awareness of beauty gadgets, increasing prevalence of skin diseases, aging population, increasing disposable income and incidence increasing hormonal problems. According to recent improvements, the existing companies in the beauty device industry are focusing more on new techniques and technologically improved things. Moreover, the increasing prevalence of skin and hair problems, such as photoaging of hair and skin, is driving the demand for beauty gadgets.

Dermatologists, physicians and estheticians are increasingly turning to new and inventive cosmetic products to treat skin conditions, improve skin texture and reduce the signs of aging. Beauty gadget manufacturers are constantly designing new items to meet the increased need for sophisticated skin and hair care solutions.

On the other hand, the availability of suitable substitutes and the negative impacts of beauty devices may limit the growth of the global beauty devices market. Scars, postoperative erythema, bruises, superficial burns, edema are all side effects that limit the development of the beauty device market. Additionally, during the forecast period, the high cost of beauty devices and panels is likely to restrict their usage and hamper the growth of the global beauty devices market. Pain, bruising, excessive swelling, fragile skin, and blisters are some of the risks associated with photorejuvenation devices, and they are significant impediments to the growth of the global beauty device market.

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KEY MARKET OVERVIEW:

  • In 2020, hair removal devices, among other sectors, held the largest share of the global beauty devices market. The largest percentage of hair removal equipment is linked to an increase in cases of hormonal imbalance, particularly the worldwide prevalence of polycystic ovary syndrome (PCOS), the most common hormonal disorder in women that stimulates the formation of facial hair. Additionally, the availability of various hair removal devices, such as trimmers, trimmers, epilators, and shavers, provides consumers with various options and reflects the device’s largest market share.
  • Due to the growing millennial population, countries like China, India, and Vietnam present substantial potential opportunities for market players in the Asia-Pacific region. Additionally, hair care solutions emerge as the richest and most cost-effective solution for consumers concerned about hair thinning, volume loss, dryness, and other hair-related issues. Thanks to the strong performance of its core brands, such as Dove and Sunsilk, Unilever maintained its market leadership position in India. Meanwhile, Patanjali Ayurved recorded the biggest sales gain in 2019.
  • Also, the increased awareness of cosmetic products such as face makeup, hair styling, and coloring products is expected to boost the market growth in the near future. As price-conscious consumers choose products that moisturize and protect the skin, the desire for versatile products is driving innovation. Companies continuously advertise medical cosmetics, especially on social media platforms like Facebook, Twitter, YouTube, and Instagram, where beauty bloggers are trending. Avon Products, Inc., Beiersdorf AG, L’Oreal Group, Procter & Gamble, The Estée Lauder Companies Inc. and Unilever are the major players in the beauty and personal care products industry in Asia Pacific.
  • North America is expected to dominate the global beauty device market in 2020, followed by Europe and Asia-Pacific. This is mainly due to the high disposable income in the region, which encourages customers to spend more on personal care products. Moreover, as their concerns about their appearance grow, customers are more likely to buy modern cosmetic equipment.
  • Pigmentation, wrinkles, folds and acne are all common in the general population, as are burn scars from accidents. More than 5.1 million people, mostly children and young adults, sought medical treatment for acne in 2013. Treatment expenses and lost productivity among those who sought medical care for acne amounted to over $1.2 billion.
  • Additionally, atopic dermatitis affects one in ten people at some point in their lives, affecting up to 25% of children and 2-3% of adults. In addition, more than a quarter (28%) of women under 25 admit to frequently worrying about their aging symptoms, with this proportion rising to 42% for those aged 25 to 34 and 54% for those aged 35 to 44 years old. What’s more, according to a Dermstore survey of 2,000 women in the United States, younger women started using anti-aging products much earlier than older women.
  • The number of target consumers with aging symptoms, such as lack of skin elasticity, wrinkles and dark spots, is expected to increase as the population aged 30-65 grows faster. In addition, the World Health Organization (WHO) predicts a 56% increase in the number of people aged 60 and over between 2015 and 2030, from 901 million to 1.4 billion. The aging of the population leads to the boom in the beauty device industry as it leads to the loss of fibrous tissue and deterioration of the vascular and glandular network in the layers of the skin. As a result, the demand for beauty devices is expected to rise over the forecast period owing to the increase in skin problems.
  • The growing use of beauty devices in medical treatment facilities in North America is expected to drive the beauty device market. The country’s booming medical device industry provides a profitable opportunity and a well-established market for beauty gadgets.
  • Some of the most notable companies in the global beauty devices market profiled in this report are L’Oreal SA, 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 BY THIS REPORT:

By type:

  • Acne devices
  • Hair removal devices
  • hair growth devices
  • Cleaning devices
  • Oxygen and steam devices
  • Rejuvenation devices
  • Others

Per application:

By region:

  • North America
    • United States
    • 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 and Africa

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