Dublin, Feb. 11, 2022 (GLOBE NEWSWIRE) -- The "U.S. Beauty Devices Market Research Report - Industry Revenue Estimation and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
Witnessing a 19.6% CAGR during 2021-2030, the U.S. beauty devices market value will increase to $99,468.0 million in 2030 from $17,623.1 million in 2020.
Though device sales witnessed a massive slump due to the COVID-19 pandemic, they started rising again from the third quarter of 2020, when the lockdowns and many other restrictions began to be lifted around the world.
This was because of the rising prevalence of dermatological problems, which had been driving the market in the first place. For instance, almost 85% of the people in the country get acne at least once, says the American Academy of Dermatology (AAD). Apart from acne, dyspigmentation, psoriasis, deep wrinkles, hyperpigmentation, atopic dermatitis, freckles, and melasma are fairly common in the U.S., thus propelling the usage of beauty devices.
Hair removal devices are the most popular in the U.S. beauty devices market, as body hair, apart from eyebrows and male beards, have become rather undesirable among Americans.
Excess female body hair due to polycystic ovary syndrome (PCOS) and other hormonal issues is also propelling hair removal device sales in the U.S. The sales of home-use beauty devices will rise the fastest in the country owing to their cost-effectiveness, portability, and low requirement for technical expertise.
The presence of numerous beauty device companies has made the U.S. market rather competitive, because of which key players are launching newer products.
Another key reason for the growth of the U.S. beauty devices market is people's disposable income, which had surged to $13,968.6 billion in 2016 from $10,036.9 billion in 2006, as per the U.S. Bureau of Labor Statistics. With a higher income comes more purchasing power, which boosts the sale of such products. Therefore, with the national disposable income set to increase to $21,178.2 billion by 2026, the demand for beauty devices will rise further.
The key companies in the U.S. beauty devices market are Panasonic Corporation, Nu Skin Enterprises Inc., Lumenis Ltd., TRIA Beauty Inc., Carol Cole Company Inc., Home Skinovations Ltd., L'Oreal SA, YA-MAN LTD., Candela Corporation, MTG Co. Ltd., LightStim, and Koninklijke Philips N.V.
Market Dynamics
Trends
- Introduction of new products
- Inclination for improved appearance
- Home-use beauty devices
Drivers
- Surging geriatric population
- Increasing prevalence of skin problems
- Rising disposable income
- Increasing awareness about beauty devices
Restraints
- Risks associated with use of beauty devices
- Lack of reimbursement policies
- Availability of traditional and cheaper beauty products
Porter's Five Forces Analysis
Impact of COVID-19
Clinical Evidence of Home-Use Beauty Devices
- Panasonic Corporation
- Nu Skin Enterprises Inc.
- Home Skinovations Inc.
- Carol Cole Company Inc.
- LightStim
- Dr. Dennis Gross Skincare LLC
Regulatory Framework Analysis
Marketing Expenses
Technical Specifications of Key Products
Definition of Market Segments
By Type
- Hair removal
- Cleansing
- Acne treatment
- LED therapy and photorejuvenation
- Oxygen/facial steaming
- Hair growth
- Dermarolling
- Cellulite reduction
- Others
By Usage
- Salon
- Spa
- At-home
- Others
Company Profiles
- Alma Lasers Ltd.
- Amorepacific Corporation
- Beauty Bioscience Inc.
- Candela Corporation
- Carol Cole Company Inc.
- Conair Corporation
- Cyden Limited
- Dr. Dennis Gross Skincare LLC
- FOREO AB
- Home Skinovations Ltd.
- Jeisys Medical Inc.
- Koninklijke Philips N.V.
- L'Oreal SA
- LightStim
- Lumenis Ltd.
- MTG Co. Ltd.
- Nu Skin Enterprises Inc.
- Panasonic Corporation
- Project E Beauty
- Spectrum Brands Holdings Inc.
- The Procter & Gamble Company
- TRIA Beauty Inc.
- YA-MAN Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/gm55x3
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