Beauty devices are typically used to improve skin appearance. They may or may not be regulated by the Food and Drug Administration (FDA) depending upon their intended use and whether they impact structure or function of the body. Beauty devices are generally used by individuals for cosmetic reasons or for personal health. Growth in number of people across the globe that these devices for calming their acne or psoriasis propel the market growth. Most people also invest in beauty devices to get rid of excess hair on their bodies. In addition, there has been an increase in number of people purchasing beauty devices that help with reducing signs of aging like wrinkles and sagging skin.
Impact of COVID-19 on the Medical Device Market
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
There has been an increase in demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment, including masks, gloves, and protective eyeglasses. An increase has been witnessed in the need for medical supplies, both from healthcare professionals and the civil population for precautionary measures, owing to the rise in the number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize on this increased demand for medical supplies to ensure an adequate and continuous supply of personal protective equipment in the market.
With COVID-19 the supply chain of the raw material required to manufacture beauty devices has been disrupted in many countries. In addition, the market growth of beauty devices is also declining as the manufacturers of these devices have slowed down their production, owing to the pandemic. Therefore, COVID-19 is expected to have a significant impact on the beauty devices market
Top Impacting Factors
- Rise in geriatric population with skin-related issues across the globe is the key factor that positively influences the global beauty devices market. Old age is associated with reduced vascular network in skin layers, which leads to loss of fibrous tissues, which leads to skin problems such as pigmentation, wrinkles, dryness, and sagging of skin and increase in use of beauty devices.
- Women suffering from hormonal imbalances is on the rise. Hormonal imbalance is one of the leading causes of hirsutism (unwanted male-pattern hair growth on chest, back, and face of women). Hence, this leads to rise in use of beauty devices to remove the unwanted hair from various body parts.
- Increase in disposable income have increased purchasing power of consumers and they are more open to investing in personal care and beauty products, which has led to rise in growth of the market.
- Demand for devices that treat skin conditions such as psoriasis, acne, and atopic dermatitis has been crucial in the operation of the beauty devices market. Of the aforementioned skin conditions, acne is one of the most prevalent dermatological conditions that troubles millions of people across the world. All these skin conditions drive the beauty devices market growth.
Key Market Trends
The overall beauty devices market is dominated by the hair removal device segment. Development and launch of various innovative laser hair removal devices support growth of the market.
In 2020, Lumenis Ltd. launched a platform Lightseer Quattro that offers clinically proven hair removal treatments using laser technology. The platform is known to offer this treatment for all types of skin. This has helped increase the global demand for hair removal devices.
North America dominated the beauty devices market and is expected to do so during the forecast period as well. This is attributed to the fact that consumers in this region are inclined toward using new technologies in the beauty devices market.
With increase in aging population and demand for at-home beauty treatments, the market is expected to grow at a significant rate in the coming years.
Asia-Pacific is also expected to grow at a significant rate, owing to increase in the geriatric population. Moreover, urbanization in many countries of this region has led to increase in demand for beauty device, which, in turn, propels the market growth.
Key Benefits of the Report
- This study presents the analytical depiction of the beauty devices industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the beauty devices market share.
- The current market is quantitatively analyzed to highlight the beauty devices market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in the coming years
Questions Answered in the Global Beauty Devices Report
- Which are the leading players active in the aplastic anemia treatment market?
- How is each segment of the market expected to grow during the forecast period?
- What are the adoption trends for the aplastic anemia treatment market in emerging economies and established economies across the world?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps in the market?
- What are the impacts of COVID-19 on the industry?
- What is aplastic anemia?
- What are the current and predicted trends of the market?
Beauty Devices Market Report Highlights
By Product Type
By End User
Key Market Players
TRIA Beauty, Inc., The Proctor & Gamble Company, Panasonic Corporation, Home Skinovations Ltd., Carol Cole Company, Lumenis Ltd., Koninklijke Philips N.V., Photomedax Inc., Syneron Medical, L’Oréal SA