Growing incidents of skin diseases, rising appearance consciousness, increasing awareness on home-use beauty devices, and expansion of product portfolio by market players are some of the major factors responsible for the growth of the home-use beauty devices market. In 2017, the market generated a revenue of $5.5 billion and is predicted to progress at a 20.2% CAGR during the forecast period (2018–2023), according to P&S Intelligence. Home-use beauty devices are designed for people to meet their personal care requirements, such as skin rejuvenation and treatment, without visiting a beauty expert. Access Detailed Report Summary: [FURL]https://www.psmarketresearch.com/market-analysis/home-use-beauty-devices-market
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On the basis of type, the home-use beauty devices market is mainly categorized into hair removal, cleansing, anti-aging, and cellulite reduction and body-toning. Out of these, in 2017, the hair removal category contributed $1.4 billion revenue to the market and is expected to lead it during the forecast period. The major factors behind the growth of this category are the rising awareness on hair removal devices with advanced technologies and increasing prevalence of hormonal disorders resulting in unwanted hair growth. However, the market for anti-aging devices is predicted to register the fastest growth during 2018–2023.
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In 2017, North America dominated the market in terms of revenue. The North American sector’s growth is primarily backed by the surging appearance consciousness among the young and geriatric populations and increasing prevalence of skin diseases. During the forecast period, the home-use beauty devices market is anticipated to exhibit swift growth in Asia-Pacific (APAC). Technological upgradations and a large number of local players would lead to the escalating demand for these devices, thereby boosting the progress of the APAC market.
Furthermore, excessive exposure to ultraviolet radiation and pollution leads to skin diseases, such as reduce elasticity, sunburn, and hair loss. Skin problems also occur due to other factors such as heavy alcohol and tobacco consumption. Hyperpigmentation, psoriasis, dyspigmentation, deep wrinkles, acne, photoaging freckles, atopic dermatitis, and melasma are some of the skin diseases that people are suffering from across the world. The growing prevalence of these issues is resulting in a high demand for home-use beauty devices as they are quick-to-use and affordable.
Hence, the growing appearance consciousness and increasing incidents of skin diseases are augmenting the market prosperity.