20.6% CAGR Forecasted in Global Beauty Devices Market Through 2030 Says P&S Intelligence

NEW YORK, June 7, 2021 /PRNewswire/ -- With people becoming more conscious of their appearance and increasingly aware about beauty devices, the global beauty devices market reached $50,814.4 million in 2020. Further, driven by the booming population of the elderly, increasing prevalence of dermatological and hormonal diseases, and surging disposable income, the market value will likely reach $311,039.3 million by 2030, at a 20.6% CAGR between 2021 and 2030, according to the market research report published by P&S Intelligence.

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The beauty devices market was badly hit by the COVID-19 pandemic, as the containment measures included movement restrictions and shutting down all non-essential manufacturing facilities, commercial centers, and even hospital departments. As a result, the production and sale of beauty devices reduced substantially, but only for a limited time. Since the lifting of the lockdowns and resumption of non-essential activities in many countries, the market has started recovering.

The categories of the market under the type segment are hair removal, cleansing, LED therapy and photorejuvenation, acne treatment, hair growth, oxygen/facial, cellulite reduction, dermarolling, and others. Among these, the beauty devices market was dominated by the LED therapy and photorejuvenation category during 2015–2020 (historical period). Blemishes, pigmentation, sun-induced freckles, wrinkles, age spots, fine lines, and many other skin issues can be effectively treated with such devices.

Browse detailed report with COVID-19 impact analysis on Beauty Devices Market Research Report: By Type (Hair Removal, Cleansing, Acne Treatment, Light-Emitting Diode Therapy and Photorejuvenation, Oxygen/Facial Steaming, Hair Growth, Dermarolling, Cellulite Reduction), Usage (Salon, Spa, At-Home) - Global Industry Analysis and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/beauty-devices-market

Salon, at-home, spa, and others are the categories of the market based on usage. Among these, the salon category would grow the fastest in the beauty devices market during the forecast period because of the rising appearance consciousness and surging incidence of androgenetic alopecia.

During the forecast period, the beauty devices market will witness the highest CAGR in Asia-Pacific (APAC). The key drivers for the demand for such products in the region are the rising urbanization rate, growing influence of social media, and increasing concern regarding appearance.

Partnerships and facility expansions are being opted for by the beauty devices market players for a competitive edge over each other.

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Earlier, in December 2019, the Amorepacific X TMIC Innovation Plant was set up by Amorepacific Corporation and its partner, Alibaba Group, to reach more customers.

Major companies in the global beauty devices market are Panasonic Corporation, Nu Skin Enterprises Inc., Lumenis Ltd., TRIA Beauty Inc., Carol Cole Company Inc., Home Skinovations Ltd., L'Oréal SA, YA-MAN LTD., Candela Corporation, Koninklijke Philips N.V., and MTG Co. Ltd.

Browse Other Related Reports

Home-Use Beauty Device Market Report - Across the globe, the APAC home-use beauty devices market is predicted to exhibit rapid expansion in the forthcoming years, primarily because of the growing public awareness about the usage of these products in various skin treatment applications and the increasing geriatric population in the APAC countries.

Skincare Devices Market Report - Globally, the skincare devices market is predicted to demonstrate the highest growth rate in Asia-Pacific in the future. This would be because of the presence of a large population, the increasing incidence of obesity and skin diseases, and surging geriatric population in the region.

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SOURCE P&S Intelligence