DUBLIN--(BUSINESS WIRE)--The "Beauty Devices Market to 2027 - Global Analysis and Forecasts by Device Type; Usage Areas; Distribution Channel, and Geography" report has been added to ResearchAndMarkets.com's offering.
The beauty device market was valued at US$ 29,648.11 million in 2019 and is expected to grow at a CAGR of 13.7% from 2020 to 2027 to reach US$ 80,741.48 million by 2027.
Driving factors of the beauty device market are increasing prevalence of age-related skin issues and changing consumer psyche towards beauty and wellness. However, undesirable side effects are expected to restrain the growth of the market during the forecast period.
Age-related skin issues, such as pigmentation, wrinkles, creases, and acne, as well as burn scars due to accidents are extremely common among masses. According to the American Academy of Dermatology Association, acne is the most common skin condition in the US, affecting about 50 million Americans annually. Approximately 85% of people between the ages of 12 and 24 experience the onset of minor acne. The costs associated with the treatment and lost productivity among those who sought medical care for acne exceeded US$ 1.2 billion, and more than 5.1 million people had sought medical treatment for acne, primarily children and young adults, in 2013.
Moreover, one in 10 people develop atopic dermatitis during their lifetime, and it affects up to 25% of children and 2-3% of adults. Furthermore, over a quarter (28%) of women under 25 even admit that they regularly worry about their signs of aging, and this number has increased to 42% for those aged 25-34 and 54% for those aged 35-44. In addition, the poll of 2,000 women across the US, conducted by Dermstore, found that the young women have started using products to reduce the signs of aging much sooner than older women.
The global beauty device market is segmented by device type, usage area, and distribution channel. The beauty device market, by device type, is segmented into hair removal devices, cleansing devices, hair growth devices, rejuvenation devices, light/LED therapy and photorejuvenation devices, acne devices, skin dermal rollers, and others. The hair removal segment held the largest share of the market in 2019. The light/LED therapy and photorejuvenation devices segment is anticipated to register the highest CAGR in the market during the forecast period. Based on usage area, the market is segmented into salon, home, and spa.
The salon segment held the largest share of the market in 2019, whereas the home segment is estimated to register the highest CAGR in the market during the forecast period. Based on distribution channel, the beauty device market is segmented into retail and e-commerce. The retail held the largest share of the market in 2019, whereas the e-commerce segment is expected to register the fastest growth.
Some of the essential primary and secondary sources included in the report are Australian College of Cosmetic Surgery, Modern Aesthetics by American Medical Spa Association, and British Association of Aesthetic Plastic Surgeons.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the beauty devices market.
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- The key findings and recommendations highlight crucial progressive industry trends in the global beauty devices market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
- Changing consumer psyche towards beauty and wellness
- Increasing Prevalence of Skin Issues
- Undesirable Side Effects
- Increasing Disposable Incomes and Expanding Middle-Class Population
- Technological Innovations
- L'oreal Group
- Procter & Gamble
- Koninklijke Philips N.V.
- Panasonic Corporation
- Tria Beauty
- YA-MAN LTD
- Nu Skin Enterprises, Inc.
- MTG Co.,Ltd
For more information about this report visit https://www.researchandmarkets.com/r/8f2oqm