Global Beauty Devices Market Report, published by Variant Market Research, forecast that the global market is expected to reach $113 Billion by 2024 from $29 Billion in 2016, growing at a CAGR of 18.3% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 20.6% and 19.4%, respectively, during the forecast period.
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Global Beauty Device Market Report by Variant Market Research, estimate that global market is expected to reach $113 Billion by 2024, from $29 Billion in 2016. The report will include detailed analysis of beauty device market with respect to major segments such as device type, usage area, and geography.
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Beauty devices denotes to the services and products that help in enhancing or improving physical appearance of an individual. These devices have several advantages as they are suitable to use and also, portable.
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These devices help in rejuvenating and cleansing the skin, and are also helpful in treating aging-related problems such as acne, wrinkles, scars, hair loss and spots.
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Increasing geriatric population shall drive the global beauty devices market
Awareness about the accessibility of treatments and associated devices for treating aging skin has been boosting the global beauty device market share. Despite observing a considerable increase over the last few years, knowledge concerning the risks associated or linked with using these devices is hindering the market’s growth.
The advent of these side-effects can slow the process of skin treatment. Also, many popular beauty devices emit intense pulsed light that can result in side-effects such as oedema, scarring, postoperative erythema, and superficial burn.
Minimizing these side effects will definitely work in increasing the global beauty device market size in coming future.
Device type, usage area, and geography are the major segments in the global beauty devices market. Device type is segmented into skin dermal rollers, cellulite reduction devices, hair removal devices, hair growth devices, cleansing devices, rejuvenation devices, light/LED therapy & photo-rejuvenation devices, oxygen, acne devices, & steamer devices, and others.
Usage area is further categorized into salon, at home, spa, and others.
Hair removal devices and cleansing devices dominated the device type segment
Hair removal and cleansing devices dominated the device type segment majorly due to growing prevalence of polycystic ovary syndrome (PCOS) and other hormonal skin problems amongst females. Cleansing devices due to increasing awareness or consciousness for appearance are expected to lead the market.
Increasing use of these devices in daily life by the females is expected to boost the beauty device market forecast.
Salon accounted for the largest market share in usage area segment
Salon accounted for the largest market share due to increasing number of salon and also due to increasing disposable income of the people which can afford the service. Busy lifestyle and increasing need for lavish lifestyle are also the factors leading to the growth of this segment and are considered as the major beauty device market trend.
North America held the highest market share of global beauty device market
North America has been the largest market for beauty devices, with U.S. as the basic contributor to the market as compared to Canada.
The factor driving the growth of North American beauty device market comprise of growing aging population and increasing prevalence of skin and skin related problems in the region. U.K. due to high acceptance of these devices also commands the significant market in Europe.
Developing economies such as India, China are expected to provide large opportunities for these devices in the coming year.
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Key players in the market are collaborating to deliver better advanced beauty equipment or devices. In January, 2017, L'Oréal engaged in an agreement with Valeant pharmaceuticals to acquire the skincare brands including AcneFree, CeraVe, and Ambi.
The acquisition is majorly aimed to expand the L’Oreal’s active cosmetics division.
The major players in the beauty device market includes L’Oreal S.A., Koninklijke Philips N.V., Syneron Medical Ltd., Panasonic Corporation, Nu Skin Enterprises, Carol Cole Company., Procter & Gamble, Home SKinovations Ltd., TRIA Beauty, Inc., and Lumenis Ltd., among others.
Scope of the Global Beauty Devices Market
Device Type Segments
- Cellulite Reduction Devices
- Skin Dermal Rollers
- Hair Removal Devices
- Cleansing Devices
- Hair Growth Devices
- Rejuvenation Devices
- Light/LED Therapy & Photorejuvenation Devices
- Acne Devices
- Oxygen & Steamer Devices
- Other Devices
Usage Area Segments
- At Home
- Other Usage Areas
- North America
- South Korea
- South America
- Middle East
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