NEW YORK, Nov. 9, 2021 /PRNewswire/ — Witnessing a 19.6% CAGR during 2021–2030, the U.S. beauty devices market value will increase to $99,468.0 million in 2030 from $17,623.1 million in 2020. Though device sales witnessed a massive slump due to the COVID-19 pandemic, they started rising again from the third quarter of 2020, when the lockdowns and many other restrictions began to be lifted around the world.
This was because of the rising prevalence of dermatological problems, which had been driving the market in the first place. For instance, almost 85% of the people in the country get acne at least once, says the American Academy of Dermatology (AAD). Apart from acne, dyspigmentation, psoriasis, deep wrinkles, hyperpigmentation, atopic dermatitis, freckles, and melasma are fairly common in the U.S., thus propelling the usage of beauty devices.
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Key Findings of U.S. Beauty Devices Market Report
Hair removal devices are the most popular in the U.S. beauty devices market, as body hair, apart from eyebrows and male beards, have become rather undesirable among Americans.
Excess female body hair due to polycystic ovary syndrome (PCOS) and other hormonal issues is also propelling hair removal device sales in the U.S.
The sales of home-use beauty devices will rise the fastest in the country owing to their cost-effectiveness, portability, and low requirement for technical expertise.
The presence of numerous beauty device companies has made the U.S. market rather competitive, because of which key players are launching newer products.
Mergers and acquisitions have also been effective strategic measures as they allow companies to gain technical expertise, a wider customer base, and access to more sales channels and widen their product portfolio.
L’Oreal SA acquired Nanda Co. Ltd. in May 2018 to increase the sale of its 3CE brand of cosmetic products, as Nanda is a makeup, lifestyle, and fashion company.
Another key reason for the growth of the U.S. beauty devices market is people’s disposable income, which had surged to $13,968.6 billion in 2016 from $10,036.9 billion in 2006, as per the U.S. Bureau of Labor …….