Beauty Devices Market

Global Beauty Devices Market Size (2023 to 2028)

The size of the global beauty devices market is estimated to be worth USD 139.277 billion by 2028 from USD 55.50 billion in 2023, growing at a CAGR of 20.2% from 2023 to 2028.

Beauty devices are products that help to improve a person's physical appearance. These devices aid in the treatment of skin and hair problems. These beauty devices have pledged to deliver the same level of service as any cosmetic procedure. Compared to conventional surgical beauty procedures, energy-based beauty devices offer little skin invasion, quick recovery, fewer side effects, and minor discomfort. Furthermore, these technologies are low-cost, painless, and rapid to produce results. These devices are easy to use and carry about. They have excellent efficiency in treating dermal problems.

Beauty is one of the essential characteristics of both women and men. Hair, facial, skin, oral, and eye beauty devices are used to treat various conditions relating to appearance. Haircare devices, facial devices, skincare devices, dental care devices, and eye care devices are among the many cosmetic devices available on the market. Light/LED, and photo rejuvenation therapy devices are beauty systems that use non-thermal, narrow-band LED light energy to activate the body's natural cell processes. Environmental pollution, tobacco usage, excessive alcohol consumption, and UV radiation are other causes of skin problems.

Impact of COVID-19 on the global beauty devices market:

Lockdowns and partial industrial closures damaged manufacturing facilities all around the world during the COVID-19 outbreak. Companies have taken severe measures, such as industry closures, to restrict the spread of COVID-19 and safeguard personnel safety as the virus spreads around the world. As a result of the pandemic, the supply of beauty devices has decreased in the short term, negatively influencing the market growth. However, with the restoration of manufacturing activities, the lifting of lockdowns, the reopening of salons, and the streamlining of imports and exports, these products saw a significant surge in sales in the fourth quarter of 2020. Demand for various cosmetic items like oxygen and steamer devices, hair removal devices, acne removal devices, hair growth devices, LED/Light therapy devices, cleansing devices, photo rejuvenation devices, and many more have fallen over the world result of the COVID-19 pandemic.

MARKET DRIVERS:

One of the key drivers driving the global beauty devices market is growing awareness of energy-based cosmetic devices' safety profile and benefits, particularly laser-based devices.

Fine lines, wrinkles, and skin laxity can all be reduced using laser skin tightening, approved by the Food and Drug Administration (FDA). Increasing appearance consciousness, rising awareness of beauty devices, rising prevalence of skin diseases, growing elderly population, increasing disposable income, and rising incidence of hormonal disorders are a few other primary drivers accelerating the market expansion. According to recent advancements, existing players in the beauty device industry are focusing more on innovative ways and technologically advanced items. In addition, the increased prevalence of skin and hair disorders, such as photo aging of hair and skin, boosts the market need for beauty devices.

Dermatologists, doctors, and aestheticians are increasingly using new and innovative beauty products to cure skin problems, improve skin texture, and minimize various indications of aging. Beauty device manufacturers are constantly inventing new products in response to the growing demand for advanced skincare and haircare solutions.

MARKET RESTRAINTS:

The presence of reasonable substitutes and adverse effects from beauty devices may restrict the expansion of the global beauty devices market. The market expansion of beauty devices is hampered by various side effects like scarring, postoperative erythema, ecchymosis, superficial burns, and edema. In addition, the high cost of beauty devices and panels is expected to limit their use and slow the growth of the beauty devices market during the forecast period.

Some hazards associated with photo rejuvenation devices, such as soreness, bruising, excessive swelling, fragile skin, and blistering, function as significant challenges for the global beauty devices market's growth.           

REPORT COVERAGE:

This research report on the global beauty devices market has been segmented and sub-segmented based on product type, application & region.

Beauty Devices Market – By Type:

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

Hair Removal Devices, among other segments, had the most significant share in the global beauty devices market in 2020. The highest percentage of hair removal equipment is due to the rising number of hormonal imbalance cases, notably the worldwide prevalence of polycystic ovary syndrome (PCOS), the most common hormonal disorder among women that promotes facial hair development. In addition, the availability of a variety of hair removal devices, such as trimmers, clippers, epilators, and shavers, gives consumers a wide range of choices and is indicative of the device's highest market share.

Beauty Devices Market – By Application:

• Salon & Spa
• Home
• Others

Based on the application, the vast size of the market is attributed to a rise in the number of salons and spas around the world. Its immense size is also likely to be aided by rising disposable income in emerging nations and increased awareness of beauty treatments. During the forecast period, the at-home segment of beauty devices is predicted to see the quickest growth in demand. The vast availability of goods with simple user interfaces is gaining appeal among customers who support at-home facilities.

Beauty Devices Market – By Region:

• North America
• Asia Pacific
• Europe
• Latin America
• The Middle East and Africa

In 2020, North America led the global beauty devices market, followed by Europe and Asia-Pacific. This is primarily due to the region's high disposable income, encouraging consumers to spend more on personal care products. Furthermore, increased consumer awareness of their looks contributes to an increase in the use of technologically enhanced beauty devices.

Due to government support for research and development and the availability of research funds, Europe was ranked second in accounting for the most significant share in the global beauty devices market. Over the forecast period, this is expected to continue to drive the European market. Countries such as Germany and France, for instance, are expanding their investments in healthcare.

The beauty devices market in Asia-Pacific (APAC) is predicted to develop at the quickest rate during the forecast period. This is primarily due to an increase in the senior population and increased awareness of cosmetic devices to treat skin disorders. Furthermore, the presence of well-known brands and the introduction of less-expensive cosmetic devices in the region encourage people to utilize them for various grooming needs. The easy availability of branded cosmetic devices on internet channels, specifically on a unified platform, further propels market expansion. In addition, increasing demand for high-quality medical devices is expected to lead to the adoption of advanced equipment, which would boost the market for acquired anemia in the region. Because of its rapid economic development and elderly population, China has the largest market share in the Asia Pacific area.

KEY MARKET PLAYERS:

L'Oreal S.A., Nu Skin Enterprises, Panasonic Corporation, Syneron Medical Ltd, Home Skinovations Ltd, TRIA Beauty Inc., Procter & Gamble Co, and PhotoMedex Inc. are a few of the noteworthy companies operating in the global beauty devices market profiled in this report.

RECENT MARKET DEVELOPMENTS:

• Nu Skin Enterprises Inc. introduced the ageLOC Boost device in January 2021, which combines microcurrent waveforms with variable pulse technology to produce significantly brighter, plumper, and bouncier skin.
• Shiseido Cosmetics announced plans to form a joint venture with YA-MAN Ltd. to develop and produce anti-aging devices in Japan in August 2020.
• Potomac Equity Partners announced the acquisition of Laser MD Medspa in July 2020. Laser MD Medspa is a hair removal service provider. Laser MD Medspa's economic prospects and brand recognition are likely to improve due to this acquisition.