Beauty Devices Market Size Worth $ 80,741.48 million By 2027 | CAGR 13.7% – The Insight Partners

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Beauty Devices Market to Grow at a CAGR of 13.7% to reach US$ 80,741.48 million from 2020 to 2027

NEW YORK, UNITED STATES, November 23, 2021 / — According to The Insight Partners market research study of ‘Beauty Devices Market to 2027 – Global Analysis and Forecasts by Device Type, Usage Area, and Distribution Channel.’ The global beauty devices market is expected to reach US$ 80,741.48Mn in 2027 from US$ 29,648.11 Mn in 2019. The market is estimated to grow with a CAGR of 13.7% from 2020-2027. The report provides trends prevailing in the global beauty devices market and the factors driving market along with those that act as hindrances.

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Report Coverage (Details)
Market Size Value in – US$ 29,648.11 million in 2019
Market Size Value by – US$ 80,741.48 million by 2027
Growth Rate – CAGR of 13.7% from 2020 to 2027
Forecast Period – 2020- 2027
Base Year – 2020
No. of Pages – 150
No. Tables – 80
Segments covered – Device Type; Usage Areas; and Geography
Regional scope – North America; Europe; Asia Pacific; Latin America; MEA
Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Beauty devices are made and sold for the purpose of enhancing the physical attractiveness of users. These devices come in handy and are very useful for the cosmetic usage area including skin related issues, such as acne, wrinkles and scars usage areas among others. The market for beauty device is expected to witness huge growth due to changing consumer psyche towards beauty and wellness and increasing prevalence of age-related skin issues. The growth of the Beauty Devices in healthcare market is attributed to the increasing prevalence of age related skin issues, changing consumer psyche towards beauty and wellness. However, undesirable side effects are expected to restraint the growth of the market during the forecast years.

Growing Applications of Beauty Devices in Healthcare to Drive Beauty Devices in Healthcare Market Growth

Obsession with appearance has significantly increased the demand for beauty and skincare products across the world. Premium beauty brands are now offering additional services, such as skin diagnosis, at their outlets to attract customers. In addition, the beauty industry is fast moving, and cosmetic products are largely purchased by millennial women aged from 25 to 34. However, there is increasing acceptance for beauty devices and products among both men and women, which would, in turn, boost the market growth.

Age-related skin issues, such as pigmentation, wrinkles, creases, and acne, as well as burn scars due to accidents are extremely common among masses. According to the American Academy of Dermatology Association, acne is the most common skin condition in the US, affecting about 50 million Americans annually. Approximately 85% of people between the ages of 12 and 24 experience the onset of minor acne. The costs associated with the treatment and lost productivity among those who sought medical care for acne exceeded US$ 1.2 billion, and more than 5.1 million people had sought medical treatment for acne, primarily children and young adults, in 2013.

Moreover, one in 10 people develop atopic dermatitis during their lifetime, and it affects up to 25% of children and 2– 3% of adults. Furthermore, over a quarter (28%) of women under 25 even admit that they regularly worry about their signs of aging, and this number has increased to 42% for those aged 25–34 and 54% for those aged 35–44. In addition, the poll of 2,000 women across the US, conducted by Dermstore, found that the young women have started using products to reduce the signs of aging much sooner than older women.

The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide.

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The beauty devices marketis expected to grow, owing to factors such aspreference toward increasing prevalence of age related skin issues, changing consumer psyche towards beauty and wellness. However, undesirable side effects are expected to restraint the growth of the market during the forecast years.

Based on usage, the Beauty Devices in healthcare market is segmented into salon, home and spa. The salon segment held the largest share of the market in 2019, whereas the home based usage area segment is estimated to register the highest CAGR of 14.3% in the market during the forecast period.

Beauty Devices Market: Competitive Landscape and Key Developments

Leading companies operating in the beauty devices marketare NuFACE, L'OREAL GROUP, Procter &Gamble,Koninklijke Philips N.V., Panasonic Corporation, TRIA BEAUTY, FOREO, YA-MAN LTD, ZIIP, Silk’n, Nu Skin Enterprises, Inc.,MTGCo.,Ltd among others.

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Beauty Devices Market Worth US$ 80,741.48 million by 2027 Global Analysis and Forecasts 2027

Source: EIN Presswire