People have become conscious of the beauty products they choose to apply to their skin in the last few years. Hectic working schedules and changing lifestyles have contributed to escalating stress levels, resulting in various issues on outward appearance, particularly skin and hair.
The significant market players' aggressive marketing through videos and ads on social media platforms plays a critical role in spreading awareness regarding the availability of various treatments for different skin problems.
Social media severely influence the youth, and the rising internet penetration allows consumers to find out about several treatments and beauty devices related to skin care.
The influence of social media, the launch of international brands, and the increase in e-commerce activities positively impact the growth of beauty devices.
For instance, Nykaa, an online platform, offers a wide range of cosmetics, personal care, and beauty devices that have transformed India's beauty and personal care industry. TPG Growth (private equity giant) invested US$ 14.4 million in Nykaa.
Thus, the increasing adoption of smartphones and increased internet penetration are among the other factors propelling the global beauty devices market.
Beauty devices help treat acne, pigmentation, blemishes, age spots, wrinkles, and freckles. The increasing prevalence of skin diseases, the growing number of road accidents that causes scars, the rising elderly population, and many skin diseases caused by UV rays are the major factors boosting the demand for beauty devices worldwide. Beauty devices are convenient to use and treat dermal conditions with high efficiency.
Hair removal devices, cleansing devices, acne devices, light/LED therapy and photorejuvenation devices, hair growth devices, skin dermal rollers, and rejuvenation devices are among the various types of beauty devices.
The advancements in products and devices for anti-aging benefits in providing a younger look and decreasing skin aging through tightening and revitalizing the skin bolster the demand for beauty devices.
The escalating awareness about the safety profile and advantages of energy-based aesthetic devices, particularly laser-based devices, is another factor propelling the market expansion.
Laser skin is a skin tightening technique for reducing fine lines, wrinkles, and skin laxity, approved by the Food and Drug Administration (FDA).
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People have become conscious of the beauty products they choose to apply to their skin in the last few years. Hectic working schedules and changing lifestyles have contributed to escalating stress levels, resulting in various issues on outward appearance, particularly skin and hair. The growing obsession with appearances and beauty has also positively impacted the demand for beauty and skincare products worldwide.
Furthermore, the rise in salons and spas worldwide is another promising factor driving the market's growth. The millennials spend extensively on beauty products because they desire to look attractive.
Several key beauty brand players are now giving additional services, such as skin diagnosis at their outlets, to attract the consumer base.
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The companies are focusing on innovating products through strategic research activities. These products are likely to provide superior treatment outcomes over the existing products.
The technological advancements of beauty apps also boost the market's growth. Most customers have gained interest in including these devices in their beauty regimen as they can meet consumer requests for beauty products that offer value, convenience, time savings, and instant gratification.
In the coming years, beauty devices represent a huge potential to become personal care essentials. The recent interest in beauty tech is linked directly to the rise of more innovative, efficacious formulations.
Three categories of beauty devices utilize advanced science to offer targeted results, such as LED therapy devices, non-surgical facelifts, and blue light devices for acne. Hence, product innovations with recent technologies are delivering an impetus for the growth of the beauty devices market.
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Following are some technological advancements and product launches in beauty devices:
All these advancements and product launches show that market players are expanding their consumer base and grabbing consumers' attention through these business strategies.
