The increasing prevalence of skin-related issues, a rising geriatric population, and the expansion of the middle class have been the key factors boosting the global beauty devices market. The market is poised to surge exponentially between 2016 and 2024. Much of the growth exhibited by the market is attributed to the rising demand for hair removal devices. This product segment is expected to hold a considerable share in the market during the forecast period. Among the various application segments, the demand for beauty devices from salons is expected to rise at an impressive rate.
Among other factors, the growth of consumerism has had a profound impact on the market’s trajectory. Increasing demand for devices used in the treatment of skin diseases such as acne, psoriasis, and atopic dermatitis has been crucial in expanding the market’s operation. Of the aforementioned skin-related issues, acne is among the most prevalent dermatological conditions, troubling millions around the world. It is caused due to the clogging of hair follicles by dirt, dead skin cells, and sebum. More often than not, acne leaves behind scars. According to the findings of the American Academy of Dermatology, about 85% of Americans suffer from acne at some point in their lives. Apart from this, exposure to ultraviolet radiation can also cause skin diseases.
Beauty devices that have been launched recently in the market have proven extremely beneficial in the treatment of the aforementioned dermatological conditions. Demand from the global beauty devices market is thus expected to increase at a robust pace in the coming years. The report studies the various factors influencing the global beauty devices market. It provides a comprehensive overview of the growth trajectory exhibited by the market over the last few years. It also presents forecasts about the market’s growth prospects based on information obtained from trusted industrial sources.
Global Beauty Devices Market: Drivers and Restraints And Competitive Insight
The majority of demand witnessed by the market comes from geriatric consumers. Old age is often associated with a reduced vascular network in layers of skin and loss of fibrous tissue. Consequently, people belonging to this age group demand special treatments for healthier-looking skin. Furthermore, the characteristics and appearance of a person get altered in old age, leading to dryness, pigmentation, wrinkles, and sagging of skin. Anti-aging beauty devices available in the market help in reducing these signs of skin aging, thus lending the skin a youthful radiance by tightening it.
Awareness about the availability of treatments and related devices for treating aging skin has been thus boosting the global beauty devices market. Despite witnessing a considerable rise over the last couple of years, knowledge regarding the risks associated with using these devices is hampering the market’s growth to an extent. Some of the most common side-effects associated with the beauty devices include fragile skin, excessive swelling, discomfort, blistering, and bruising. The appearance of these side-effects can slow or postpone the process of skin treatment. Also, many popular beauty devices emit intense pulsed light that can result in side-effects such as edema, superficial burn, scarring, and postoperative erythema.
In order to study the competition prevailing in the market in detail, the report profiles some of the major companies operating therein. These include the L’Oreal Group, Panasonic Corporation, Procter & Gamble Company, and Carol Cole Company. The strengths and weaknesses of these companies are extensively studied in the report. It also provides in-depth insights into the threats and opportunities that these companies are likely to face in the near future.
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