How Are Rising Acne Cases Driving Home-Use Beauty Device Demand?
The National Health Service (NHS) estimates that approximately 95% of the people aged 11–30 years are affected by acne in the U.K. Further, the American Academy of Dermatology Association (AAD) states that acne affects up to 50 million Americans annually. Further, as per the AAD, nearly 85% of the U.S. population in the age group 12–24 years is affected by acne. The increasing prevalence of acne and other skin problems is expected to facilitate the adoption of home-use beauty devices in the forthcoming years.
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Moreover, the surging geriatric population will help the home-use beauty devices market progress at an exceptional CAGR of 25.1% during 2020–2030. According to P&S Intelligence, the market was valued at $9,571.6 million in 2020, and it will generate $89,535.1 million revenue by 2030. The World Population Ageing 2020 report by the United Nations Department of Economic and Social Affairs (UNDESA) states that the population of people aged 65 years or more will increase from 727 million in 2020 to around 1.5 billion by 2050.
In the upcoming years, a large number of home-use beauty devices will be used for skin rejuvenation due to the surging public awareness regarding overall skin health. Customers across the world are increasingly using these devices to treat age spots, pigmentation, blemishes, fine lines, wrinkles, and sun-induced freckles. They are also used for acne treatment, cellulite reduction, cleansing, dermarolling, and oxygen/facial steaming. Additionally, certain home-use beauty devices are used for hair removal and hair growth.
Companies operating in the home-use beauty devices market have been engaging in acquisitions, product launches, and geographical expansions to offer their products to a greater number of people. For instance, in March 2020, Sulwhasoo, a brand of Amorepacific Corporation, expanded its presence in North America by introducing its devices at Sephora stores in the major cities of the U.S. and on sephora.com. Further, in August 2020, Koninklijke Philips N.V. introduced the 3000 series, a new hair clipper, for men's grooming.
Therefore, the rising cases of skin diseases and burgeoning elderly population will encourage the adoption of home-use beauty devices globally.