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We talk to startups and investors, you get the value.
Modern digital technology (from Artificial Intelligence, augmented reality, face recognition technologies and other technological tools) are already changing the industry of reconstructive surgeries, cosmetology and aesthetic medicine in general. Moreover, they become the basis for a new direction in the startup development — digital aesthetics: when a variety of digital medical technologies are used not only at home for face and body care, but also provide a wide range of opportunities for doctors and the professional aesthetic medicine industry as a whole.
In today’s review, we will discuss technologies and startups that form the future of aesthetic medicine.
It is expected that the world market of the beauty and hygiene industry will grow by 4.06% annually from 2021 to 2025, and personal hygiene products will be the largest segment. According to the data from McKinsey, before the pandemic, 85% of in-store purchases were accounted for beauty products. However, the demand for beauty products didn’t decrease significantly and only the segment has shifted. A McKinsey report states that demand for skin, nail and personal care products increased during the pandemic.
This indicates that cosmetic startups are striving to move to online formats that are directly focused on the consumer. Another common trend among beauty startups is personalized beauty options. In addition, the pure and natural beauty segment (when the beauty product is safe, non-toxic and transparently labelled ingredients) is expected to grow at a faster rate than the rest of the beauty industry, with a projected CAGR of 12.07%.
Let’s review startups from e-commerce to virtual reality that provide a wide range of solutions for aesthetic medicine and cosmetics.
PROVEN is a company that uses advanced artificial intelligence technologies to create personalized beauty treatments specifically designed for every skin type, personal needs and problem.
The PROVEN project was launched in November 2018 by creating an artificial intelligence platform, which is now known as the Skin Genome Project. It is the most comprehensive analytical database of clinically effective skincare ingredients. The Skin Genome Project can analyze: the effectiveness of over 20,238 skincare ingredients, information on over 100,000 individual products (luxury, formulation, generic, and so on), over 8 million reviews from real people, over 4,000 scientific publications, water hardness level, humidity level and UV-index.
The PROVEN Skincare system includes three products:
Personalized day cream.
Personalized night cream.
Each product in the PROVEN Skincare system is designed for two months. After two months, PROVEN takes into account any new lifestyle factors (for example, season change, change of location, pregnancy, etc.). It also considers new ingredients for the skin and whether it is ready for it: a higher dosage of retinol, for example. The user undergoes a 3-minute PROVEN Skin Genome Quiz and on its basis, the system creates a personalized night cream, day moisturizer and cleanser.
NakedPoppy is a company that offers an individual selection of cosmetic products without toxins, using its AI algorithm, taking into account the users’ age, skin type, eye and hair colour, allergies and much more based on a 3-minute survey.
Routinely is a personalized care app that allows consumers to find the perfect combination of specially developed skin serums. Daily skincare is individually selected via the app, based on the current results in real-time. In addition to current consumer skincare requirements, external factors (humidity, temperature, air quality or solar radiation) are also taken into account.
DERMACARE is a platform that provides personalized treatment based on skin type, medical history, previous treatment, and taking into account skin characteristics and dermatological diseases. A professional medical team assesses the condition of the skin based on the patient's selfies and, eventually, recommends cosmetic care based on a set of data, which is sent to the consumer at home.
Optune is a skincare device from Shiseido Company from Japan that uses the AI-based app which analyzes the skin condition (for example, the amount of moisture, skin texture, pores) by taking a picture of the skin with the smartphone's camera. The application has a function for recognizing a violation of the biological rhythm. In addition to the condition of the skin, the app automatically collects data on external environmental factors daily (for example, temperature, humidity, pollen, etc.). Together with the data from the users (for example, menstrual cycle, mood and others), and after its comprehensive analysis, Optune determines skincare and sends the necessary data to a special device.
Five cartridges for skincare are called "Optune Shot" and are automatically selected based on the skin condition at the current day. The cartridges can be delivered to the home with a special device. By inserting a hand into the dispenser, users receive a care product that matches their current skin conditions.
Effaclar Spotscan mobile app, created by La Roche-Posay in collaboration with the L'Oréal brand, provides solutions for patients with acne. The AI-powered app, being trained on thousands of images of different skin types, analyzes the user's selfies to determine the type of acne. It subsequently provides personalized skincare advice and also alerts the user if they need to consult a healthcare professional.
The Skin Advisor mobile app provides users with information written by practising doctors, dermatologists, venereologists and cosmetologists on the best skincare methods.
Combining image analysis and deep neural networks, facial recognition technology interprets the structural characteristics of a face that can reveal a range of diseases.
Face2Gene app allows doctors to detect rare genetic diseases by analyzing the face, such as Cornelia de Lange syndrome. Patients with this syndrome exhibit characteristic facial features, however, this disease can be missed by doctors due to its rarity and, accordingly, the lack of frequent occurrence in clinical practice. The Face2Gene application includes the DeepGestalt algorithm developed by FDNA, which has been used by doctors since 2014.
NuraLogix company uses facial recognition technology with transdermal optical imaging to extract information about facial blood flow. This allows the app to assess stress levels, heart rate and a range of cardiovascular parameters using the phone's camera. They have developed Transdermal Optical Imaging technology, which extracts information about the person’s face blood flow by using a video camera.
Lonvivo is an AI technology application that recognizes and analyzes the signs of skin problems and presents the most effective personalized solutions. Lonvivo detects multiple signs of ageing to provide users with personalized products and personalized skincare recommendations based on genotypic and clinical characteristics.
The Scin Consult is a platform providing telemedicine consultations with dermatologists and cosmetologists on skin treatment and care. Medical specialists select an individual treatment plan and a range of care products, taking into account the characteristics of the patient's skin. The platform also provides access to clinical class skincare brands.
Hims is a male-focused telemedicine platform that offers consultations with medical professionals on men's health, hair loss, skin issues, mental health, and sports supplements.
Versed Skincare is a pure skincare brand focused on transparency and sustainability. The platform promotes itself as the first pharmacy to offer pure skincare products.
Purplle is an e-commerce website and application for cosmetics, skincare and hair care. There is placed a wide range of cosmetic and cosmeceutical brands.
Curology is a platform that provides advice and treatment for various types of dermatological diseases. It was founded in 2014 to create effective acne treatments that are affordable for everyone. Healthcare professionals select formulas for local use to meet patients' skincare needs.
Wize Mirror is a device that is a mirror that includes a 3D scanner, multispectral cameras and gas sensors that allow you to assess the health of a person looking at the reflection. The device does this by analyzing a person's face, general skin condition, facial expressions and skin type. In the end, the system converges all the collected data into a “well-being index”, which shows how high the risk of cardiovascular and metabolic diseases is.
Zmirror is a startup and its product is a mirror equipped with a personal assistant, built on groundbreaking next-generation technology with a smart display and voice-activated speaker. The project was launched in 2020 by ICON.AI, a company from South Korea. The mirror monitors the condition of the user's skin and gives recommendations on the use of cosmetic products accordingly. Built-in speakers and a video display also allow users to watch makeup and skincare tutorials.
Perfect Corp. Is a cosmetic technology services company that uses its patented facial analysis technology to track skin health and 3D make-up modelling.
Crisalix is a product that allows you to visualize the expected results of plastic surgery before the start of the procedure using 3D modelling during the consultation. The system can be used to simulate plastic surgeries such as breast augmentation, rhinoplasty, body contouring, abdominal plastic surgery, liposuction and much more.
The second part of of BEAUTY & COSMETIC TECH articles focuses on technological solutions that are transforming the industry of dermatology and cosmetic surgery, as well as providing an additional set of tools for industry professionals: dermatologists and surgeons.
Resources: startupill.com, Digital technologies in plastic surgery and cosmetics (evercare.ru), prnewswire.com, mckinsey.com, brandessenceresearch.com, explodingtopics.com.