Emphasis on Type (Hair Removal, Cleansing, Acne Treatment, Light-Emitting Diode (Led) Therapy and Photorejuvenation, Oxygen/Facial Steaming, Hair Growth, Others); Technology (Laser/ Light, Vibration, Rf Energy, Nano-Iconic, Microneedling, Electroporation); End User (Beauty Salons, Specialty Stores, Online Channels, Others) and Region/Country
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.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Global Home-use Beauty Devices Market Covid-19 Impact
6. Global Home-use Beauty Devices Market Revenue, 2020-2030f
7. Market Insights By Type
8. Market Insights By Technology
9. Market Insights By End-users
10. Market Insights By Region
11. Home-use Beauty Devices Market Dynamics
12. Home-use Beauty Devices Market Opportunities
13. Home-use Beauty Devices Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Pricing Analysis
17. Strategic Insights
18. Competitive Scenario
19. Company Profiled
20. Disclaimer
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:
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:
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