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Beauty Devices Market is Growing at an Exorbitant Pace

Global beauty devices market is expected to reach $97.0 billion by 2023, according to P&S Market Research.

According to a research report publish by P&S Intelligence, the global beauty devices market size is projected to witness a significant growth. The market for beauty devices is projected to reach $97.0 billion 2023. Increasing demand for more sophisticated offerings in skin care in mature markets as well as skin care’s great dependence on the gadget-loving Asia Pacific region has helped beauty devices garner more attention in skin care.

The prevalence of skin diseases, such as photoaging is increasing due to excessive exposure to pollution and ultraviolet (UV) radiation, resulting in sunburns, reduced skin elasticity, and hair loss. Skin diseases are also caused by various other factors, such as excessive alcohol consumption, environmental pollution, and consumption of tobacco. Acne, hyperpigmentation, dyspigmentation, psoriasis, freckles, deep wrinkles, atopic dermatitis, and melasma are some of the common skin problems. Acne is a common dermatological condition caused by the clogging of hair follicles by sebum, dirt, and dead skin cells. Acne affects majority of the world population and eventually leads to scarring. According to the American Academy of Dermatology (AAD), approximately 85% of Americans suffer from acne at some phase in their lives. The academy also stated that melasma is a skin problem which causes brown and grey-brown patches on the face. It was further reported that about 10% of people suffering from melasma are men.

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Despite the beauty devices market booming at an exorbitant pace, the market has a few barriers that are hampering the growth. The high cost of beauty devices makes them less affordable, leading to their restricted adoption in developing countries, thereby impeding the growth of the market. Various technological advancements taking place in the beauty devices products, to provide best possible treatments to the customers, have led to high prices of these products.

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Geographically, the Asia-Pacific beauty devices market is projected to witness the fastest growth during the forecast period. The growing geriatric population and increasing awareness about the potential applications of beauty devices for the treatment of skin problems is a major growth of the beauty devices market in the Asia-Pacific region. According to the UN publication “World Population Aging 2017”, Asia also is expected to experience a twofold increase in the number of older persons, with the population aged 60 or over projected to increase from 549 million in 2017 to nearly 1.3 billion in 2050. This increase in aging population is a major cause for the growth in sales of anti-aging products in the region.

About P&S Intelligence

P&S Intelligence, a brand of P&S Market Research, is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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Website: https://www.psmarketresearch.com/market-analysis/beauty-devices-market



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