COVID-19 Impact Analysis on Beauty Devices Market. Insights on Strategies of Key Players

The soaring geriatric population in several countries is one of the biggest factors propelling the demand for beauty care products and devices across the globe. In the developing nations such as India and China, the geriatric population is expected to be much higher than that in the developed countries. As per the United Nations Department of Economic and Social Affairs (UNDESA), the total population of people in China India, and Brazil having ages above 60 years are expected to rise to 437 million, 324 million, and 58 million respectively, by 2050.

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The rising awareness about beauty care products, devices, and therapies such as photorejuvenation devices and light/light emitting diode (LED) therapy for skin tightening and removing dark spots and pigmentation and increasing disposable income of the people are the other major factors fuelling the growing demand for beauty devices across the world. As per the U.S. Bureau of Labor Statistics, the total disposable income of the people in the U.S. grew from $10,036.9 billion to $13,968.6 billion from 2006 to 2016 and this number is predicted to rise to $21,178.2 billion by 2026.

The most major trends currently being witnessed in the beauty devices market are the rising utilization of electronic beauty devices and increasing development of technologically innovative products. Due to the frequent launch of technologically advanced beauty devices, dermatologists, clinicians, and aestheticians are able to better treat various skin problems and ailments such as improving skin textures, reducing the signs of ageing, and removing spots. For instance, Nu Skin Enterprises Inc. developed the ageLOC LumiSpa, which is a rechargeable and waterproof handheld personal skin care cleansing device, in January 2018.

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Globally, North America is anticipated to register the highest usage of beauty devices in the coming years. This is mainly ascribed to the greater spending capacity of people in this region on personal care and beauty devices owing to their high disposable income. Furthermore, the rising prevalence of skin diseases and the increasing awareness about skin care and skin problems amongst the people in this region are expected to significantly boost the usage of beauty devices in the region over the next few years.

Hence, it can be concluded that owing to the rising incidence of skin problems, increasing consumer awareness about skin ailments, and rapid development of advanced personal and beauty care products, the demand for beauty devices will surge in the coming years.