Published: September 2021 | Report Code: LS11467 | Available Format: PDF | Pages: 310
The global market for home-use beauty devices was valued at $9,571.6 million in 2020, and it is expected to reach $89,535.1 million in 2030, at a CAGR of 25.1% during 2020–2030. The rising appearance consciousness, increasing awareness on beauty devices, surging prevalence of skin diseases, and escalating geriatric population are the key factors driving the market.
The COVID-19 outbreak has had a negative impact on the home-use beauty devices industry by decreasing the demand for these products. The pandemic disrupted the supply chains of this sector in 2020; however, near the end of 2020, the process of lockdown lifting was initiated in phases across various countries. With the lifting of the lockdowns in most parts of the world, a positive sign for the surge of the economy has been seen, which has led to a rise in the demand for goods and services, including home-use beauty devices, globally.
In 2020, the laser/light category held the largest share in the home-use beauty devices market, on the basis of technology. The high adoption of the laser technology is primarily due to its ability to reduce the redness and inflammation associated with skin conditions, such as acne and rosacea, by targeting specific areas of the skin, while not harming other areas. Lasers stimulate the growth of fibroblasts, which are precursors to new collagen in the skin, by using heat. More collagen leads to skin that is firmer, fresher, and younger-looking, which helps in the improvement of the overall skin condition of patients.
In the home-use beauty devices market, skin rejuvenation is expected to grow at the highest rate during the forecast period (2021–2030), on the basis of indication. This can be mainly ascribed to the growing awareness and focus of consumers on their overall skin health, which is why they are adopting these devices for treating blemishes, pigmentation, wrinkles, sun-induced freckles, age spots, and fine lines.
During the forecast period, the home-use beauty devices industry is expected to witness the highest growth rate in the Asia-Pacific (APAC) region. The rising skin disease incidence, increasing appearance consciousness in people, and growing prevalence of hormonal disorders are the key factors driving the growth of the APAC home-use beauty devices market. Furthermore, nations including China, India, Vietnam, Thailand, and Indonesia are offering ample growth opportunities to the market players, essentially because of their booming millennial population. Moreover, the demand for multifunctional products is rising as price-conscious consumers are selecting products that offer multiple features.
The launch of new and innovative beauty products in recent years has changed the scenario of the home-use beauty devices market by allowing people to treat skin diseases, improve the skin texture, and reduce the signs of aging themselves. Beauty device companies are continuously developing new and innovative products in response to the consumer industry demand for advanced skincare and haircare solutions. For instance, in January 2020, L'Oréal S.A. unveiled an artificial intelligence (AI)-enabled at-home skincare device, named Perso. It is equipped with a patented motorized system that allows it to provide personalized skincare formulas for customers (in the form of moisturizers, serums, and under-eye creams) on the basis of real-time data and trend analysis.
Growing geriatric population plays pivotal role in the growth of home-use beauty devices market. In the skin layers, aging leads to the loss of fibrous tissues and a reduced vascular and glandular network. As a result, wrinkles, dryness, pigmentary changes, and skin sagging occur. Anti-aging devices, which help revitalize and tighten the skin, are being used in large numbers to treat such skin problems in the elderly population.
|Base Year (2020) Market Size||$9,571.6 Million|
|Market Size Forecast in 2030||$89,535.1 Million|
|Forecast Period CAGR||25.1%|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Regional and Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis; Company Profiling|
|Market Size by Segments||By Technology; By Indication; By Region|
|Market Size of Geographies||U.S., Canada, Germany, France, Italy, U.K., Spain, Russia, Benelux, Poland, Turkey, Switzerland, Czech Republic, Hungary, Slovakia, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, Chile, Saudi Arabia, U.A.E., South Africa|
|Secondary Sources and References (Partial List)||American Academy of Dermatology (AAD), American Dental Association (ADA), Association for Dental Education in Europe (ADEE), British Association of Dermatologists (BAD), Canadian Association of Orthodontists (CAO), Council of European Dentists (CED), International Society of Dermatology (ISD), United Nations Department of Economic and Social Affairs (UNDESA), World Health Organization (WHO)|
In recent years, players in the home-use beauty devices industry have been acquiring other companies and expanding their reach in order to stay ahead of their competitors. For instance:
The global home-use beauty devices market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.
Based on Technology
Based on Indication
The 2030 value of the market for home-use beauty devices will be $89,535.1 million.
The laser/light technology is preferred among end users in the home-use beauty devices industry.
North America is the largest market for home-use beauty devices in the world.
The key drivers for the home-use beauty devices industry are the rising geriatric population, increasing prevalence of skin diseases, and surging appearance consciousness.
Players in the market for home-use beauty devices are engaging in product launches and mergers & acquisitions.
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