Beauty Devices Market Size Worth USD 50.40 Billion by 2028 Witnessing a CAGR of 12.5% – Report by Market Research Future (MRFR)

New York, US, July 26, 2021 (GLOBE NEWSWIRE) — Beauty Devices Market Overview

As per an extensive research report published by Market Research Future (MRFR), the “Beauty Devices Market Information by Product, Skin Care, Application, End-user, and Region – Forecast till 2028”, the market is forecasted to reach USD 50.40 Billion by 2028 at a CAGR of 12.5%.

Market Scope:

Any individual’s most important and outstanding quality is their beauty. The adoption of beauty gadgets is increasing among the public as a result of skin and hair concerns, an ageing population, high pollution, and UV radiation. Beauty gadgets aid in the treatment of these disorders and issues while also promoting skin health. These devices are easy to use and carry about. They have a great efficiency in treating cutaneous problems. In the case of treating wrinkles and blemishes, cosmetic devices can help to provide fast effects, which contributes to the demand. 

Market Drives

The beauty devices market is being driven by rising awareness of beauty devices and services, rising elderly population, rising hormonal disorders, high disposable income, rising prevalence of skin and hair concerns, and enormous technological innovation. Existing companies are focusing more on distinctive methods and technologically advanced gadgets, according to the latest trends in the beauty devices market. This has increased competition among existing market participants, and new additions will result in price reductions.

Beauty gadgets have piqued the market’s interest, as technology advances in nearly every part of life, resulting in a greater adoption of these technologically advanced products by customers. Consumers are accepting of these beautification devices. The presence of viable substitutes and adverse effects from beauty gadgets, on the other hand, may limit the market’s upward movement during the review period.

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Competitive Landscape:

Some of key the players in the market are :

• L’Oreal S.A.
• Nu Skin Enterprises
• Panasonic Corporation
• Syneron Medical Ltd
• Home Skinovations Ltd
• TRIA Beauty Inc
• Procter & Gamble Co
• PhotoMedex Inc
• Tria Beauty Inc.

Analysis of COVID-19

As many countries fell into lockdown, the supply of beauty devices and the raw materials needed to manufacture them was disrupted. The growth rate of the worldwide beauty device market has slowed as a result of labour shortages and raw material shortages, which have caused beauty device manufacturers to reduce their production capacity. Due to the COVID-19 pandemic, demand for different beauty products such as oxygen and steamer devices, hair removal devices, acne removal devices, hair growth devices, LED/Light therapy devices, cleansing devices, photo rejuvenation devices, and many more has decreased around the world. The global supply chain has been harmed as a result of the forced lockdown in many countries.

Browse In-depth Market Research Report (115 Pages) on Beauty Devices: https://www.marketresearchfuture.com/reports/beauty-devices-market-562

Market Restraints:

The presence of viable substitutes and adverse effects from beauty gadgets, on the other hand, may limit the market’s upward movement during the review period.

Segmentation of the Market

The beauty devices market is divided into three categories: type, application, and end user.

It is divided into hair care, skin care, oral care, and other categories based on type. Hair care is further divided into equipment for hair removal, hair development, hair styling, and other uses. light/led and photo rejuvenation therapy devices, cellulite reduction devices, acne removal devices, and other skin care devices

It is divided into two categories based on the application: commercial and others. Salons/spas, hospitals/clinics, and other commercial purposes are also segmented.

It is divided into two categories based on the end user: professional and personalized.

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Regional Analysis:

Because of well-developed technology, rising patient with PCOS, expanding ageing population, and increased government support for research and development, the Americas dominate the worldwide beauty devices industry. Furthermore, the market in this region has grown due to increased R&D efforts and the consolidation of significant enterprises. Some Latin American regions are also predicted to grow at a quicker rate.

Because of government support for research and development and the availability of funds for research, Europe ranks second in the global beauty devices industry. Over the foreseeable term, this is expected to continue to drive the European market. Countries such as Germany and France, for example, are expanding their investments on healthcare.

Due to rapidly evolving healthcare technology, a large patient population, and significant healthcare expenditure, Asia Pacific is the fastest growing acquired beauty devices market. Furthermore, rising demand for novel treatment approaches in nations such as India and China is expected to emerge as the world’s fastest expanding market. Furthermore, rising demand for high-quality medical devices is expected to lead to increased use of innovative equipment, which would boost the market for acquired aplastic anaemia in the region. Because of its rapid economic development and elderly population, China has the greatest market share in the Asia Pacific area.

The Middle East and Africa, on the other hand, are expected to have luxurious growth in the future years.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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