According to a report by P&S Intelligence, the value of the beauty devices market was USD 66,336.5 million in 2022, and it will touch USD 311,095.1 million in 2030, with a CAGR of 21.3% in the years to come.
The increasing consciousness pertaining to the advantages and safety of energy-based aesthetic devices, particularly laser-based instruments, is a main factor driving the industry.
Laser skin tightening has got the approval from the FDA for the reduction of, fine lines, wrinkles and skin laxity. These energy-based devices offer minimal invasion, quick recovery, fewer side-effects, and less discomfort than the orthodox fat removal surgical treatments.
Additionally, these products are recognized for their cost-effectiveness, painless processes, and fast results. Because of these factors, the acceptance of energy-based aesthetic instruments is increasing worldwide. Further, recently, several celebrities have talked about their aesthetic treatments, which has brought an increase in the consciousness about these treatments, therefore further making them suitable in society.
Salon dominated the industry with , about 55% share, in the past, and it will continue like this in the years to come. This is mainly due to the high acceptance of the laser technology in salons for the reduction of redness and irritation related to acne and rosacea, by targeting specific areas, while not posing any harm to the others.
The increasing requirement for beauty services at salons and the increasing count of such establishments globally contribute to the progress of this category.
Additionally, the at-home category will grow the fastest, because of the low price and increasing consumer consciousness of at-home aesthetic tools. Furthermore, the promotional efforts of firms, for example, the distribution of free samples in China, India, South Korea, and Japan, are increasing the sale of home-use beauty instruments.
The incidence of photoaging is increasing globally because of the excessive contact to pollution and UV radiation, therefore resulting in hair loss, sunburns, and reduced elasticity of skin. Acne, dyspigmentation, hyperpigmentation, freckles, deep wrinkles, psoriasis, atopic dermatitis, and melasma are the other skin issues. Such dermatological ailments are also triggered by excessive consumption of tobacco and alcohol.
North American beauty devices market had the largest share in the recent past. This is mainly because of the high income and awareness of appearance, increasing the spending on cosmetic processes and tools. Furthermore, a rising number of salons delivering the services of hair removal and the people with hormonal problems bolster the requirement for the related treatments.
APAC will grow the fastest in the future. The increasing occurrence of skin ailments, technical advancements, booming appearance consciousness among youth, and shifting predisposition toward at-home aesthetic devices are the factors for the development of the industry in APAC.
It is because of the increasing spending on personal care, the demand for beauty devices will continue to grow in the future.