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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
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
Questions Answered in the Global Beauty Devices Report
Key Market Segments
Key Market Players