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.
