Home-Use Beauty Devices Market: Current Analysis and Forecast (2023-2030)

Report Description

The home-use beauty devices market was valued at USD 12133.96 million in 2022 & expected to grow at a strong CAGR of around 25.6% during the forecast period (2023-2030) owing to the growing emphasis on aesthetics and cosmetic dentistry. Moreover, the global home-use beauty devices market is experiencing significant growth due to the increasing geriatric population, skin issues caused by sun rays, and awareness regarding personal hygiene among consumers. For instance, in January 2020, L’Oréal S.A. unveiled an artificial intelligence (AI)-enabled at-home skincare device, named Perso. It is equipped with a patented motorized system that allows it to provide personalized skincare formulas for customers (in the form of moisturizers, serums, and under-eye creams) based on real-time data and trend analysis. The Perso device is operable via Bluetooth and is NFC (Near-field Communication) compliant, which basically means that it works best in tandem with a smartphone. Thus, with the growing focus on technology and smartphones used by consumers which gives detailed information across the world.

Furthermore, the increasing income of the people significantly contributes to the market for aesthetic beauty devices. As per the U.S. census bureau., the average annual family income in the U.S. increased by 6% in 2020 compared with 2015 which accounted for USD 63,683 in the former year and reached USD 67,521 in the latter year. Moreover, the increasing elderly population of the country is also responsible for boosting the market for wrinkle removal and skin tightening devices in the U.S. The demand for beauty products also increased due to the rising prevalence of medical conditions like hormonal imbalance in females, which can cause excessive hair growth and skin diseases like acne and cold soreness. Therefore, the market for home-use beauty devices is expected to witness significant growth during the forecast period.

Some of the major players operating in the market include Nu Skin Enterprises Inc.; TRIA BEAUTY; Koninklijke Philips N.V.; NuFACE, L’Oréal S.A.; Procter & Gamble, Silkn.com, www.photomedex.com; Candela Corporation; MTG Co., Ltd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Type, hair removal category accounted for the majority share in the market in 2022”

Based on type, the market is categorized into hair removal, cleansing, acne treatment, light-emitting diode (led) therapy and photo rejuvenation, oxygen/facial steaming, hair growth, and others. Amongst types, the hair removal category held a significant share of the market in 2022. This is mainly due to improved methods that are quick, painless, and more effective procedures such as laser hair removal treatment. Over the forthcoming years, the rising popularity of home-use hair removal techniques among the younger generation is likely to boost the demand for hair removal solutions.

“Amongst Technology, laser/ light is expected to witness highest CAGR during the forecast period (2023-2030)”

Based on technology, the market is categorized into laser/ light, vibration, RF energy, nano-iconic, micro-needling, and electroporation. Among these, laser/ light is expected to witness the highest CAGR during the forecast period. This technology boosts the production of fibroblasts, which results in an increase in the volume of collagen. This in due course makes the skin fresher, younger-looking, and stronger, thereby boosting the overall look. Laser/light targets specific areas of the skin, without harming the healthy skin part. The continuous development of new products and procedures is likely to strengthen the market of the segment during the forecast period.

Home-Use Beauty Devices Market Report Coverage

“North America to witness significant growth during the forecast period”

North America is expected to show significant growth in the home-use beauty devices market. The major contributors to the growth of this market are US and Canada. The increase in technology development in emerging economies, as well as the expansion of the beauty industry, has contributed to the growth of the North American market. North America has a higher adoption rate of technologically advanced and innovative solutions and devices. Enhanced consumer awareness regarding the availability of various beauty devices and skin treatments has propelled the growth of the market in the region. Hence these require devices in the region which drives the demand for home-use beauty device systems in the region. Furthermore, the increasing geriatric population and new product launches, and various developmental strategies adopted by the regional market will drive market growth. The endorsement by Hollywood stars also significantly contributed to the considerable growth of the state in the U.S. beauty devices market. For instance, according to the skin cancer organization, people who use sunscreen with an SPF of 15 or higher daily show 24% less skin age than those who do not use sunscreen daily.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global home-use beauty devices market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Home-use beauty devices Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global home-use beauty devices market were the three major steps undertaken to create and analyze the adoption of home-use beauty devices in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global home-use beauty devices market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the home-use beauty devices market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the home-use beauty devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, technology, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the home-use beauty devices market. Further, we conducted factor analysis using dependent and independent variables such as type, technology, and end-users of the home-use beauty devices market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the home-use beauty devices market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global home-use beauty devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the home-use beauty devices market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global home-use beauty devices market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global home-use beauty devices market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the type, technology, and end-users in the global home-use beauty devices market.

The main objective of the Global Home-Use Beauty Devices Market Study

The current & future market trends of the global home-use beauty devices market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the home-use beauty devices market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the type, technology, and end-users
• Define and analysis of the regulatory framework for the home-use beauty devices industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the home-use beauty devices market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the home-use beauty devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

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