Beauty Devices Market Overview
The global beauty devices market has been growing rapidly and pervasively mainly due to the ravishing outcomes that these devices provide in the professional setting as well as at the comfort of home. Moreover, with the huge technological advancements, the rapidly dropping prices of these devices are escalating the market on the global platform, becoming extremely affordable.
Acknowledging the exponential upsurges, the market is climbing rapidly, Market Research Future (MRFR) in its recently published study report asserts that the Global Beauty Devices Market size will witness significant growth, registering a CAGR of 7.8 % during the estimated period (2017 -2023).
In addition to the rapid urbanization and better living standards led by the improving economic conditions, other factor impacting the market growth, equally, is the strong desire among consumers to look and feel young & beautiful. Moreover, the rising prevalence of skin diseases such as acne, melisma (photoaging of skin) and the disorders associated with excessive exposure to ultraviolet radiation and pollution such as wrinkles, are contributing to the high growth of the beauty devices market.
Additionally, the benefits obtained by the beauty devices are considered as one of the major driving forces. The growing reach of the media has allowed manufacturers to expand their range and minimize recall value by offering a product suiting to consumer’s budget, body, skin, complexion type, and the environment. Furthermore, the growing requirement for brand differentiation in an increasingly competitive environment is expected to foster market growth.
On the other hand, factors such as disadvantages or side effects such as discomfort, excessive swelling, and sensitive skin, bruising, and blistering, associated with the mishandling or wrong application of these devices, alongside some of the prevailing side effects occurring post-treatment are impeding the market growth. Besides, some devices belch intense pulsed light which can trigger the side effects, such as scarring, superficial burns, edema, and postoperative erythema may hinder with the growth of beauty devices market.
Beauty Devices Market Key Players:
Key players leading the global beauty devices market are Nu Skin Enterprises, Panasonic Corporation, L'Oreal S.A., Home Skinovations Ltd, TRIA Beauty Inc, Syneron Medical Ltd, PhotoMedex Inc, Home SKinovations Ltd, Procter & Gamble Co, Photomedax Inc., Carol Cole Company, Lumenis Ltd., Tria Beauty Inc., and Koninklijke Philips N.V. among several others.
Global Beauty Devices Market - Segments
MRFR has segmented the report into five key dynamics for an easy grasp;
By Technology : Wearable Devices, Transcutaneous electrical nerve stimulation (TENS) technology, and Lasers Invigorate among others.
By Type : Acne Removal Devices, Hair Growth Devices, Rejuvenation Devices, Cleansing Devices, Skin Derma Rollers & Hair Removal Devices, Oxygen, Light/LED Therapy & Photo Rejuvenation Devices, Cellulite Reduction Devices, and Steamer Devices, among many others.
By Applications : Ultrasonic Infuser, Instrumental Cosmetics, and others.
By End-user : Professionals (Spas, Salons, Clinic, and others), Personalized (At home), and others.
By Regions : Asia Pacific, North America, Europe, and Rest-of-the-World (RoW).
Global Beauty Devices Market - Regional Analysis
The North American region accounts for the dominating market for beauty devices, globally. The largest share of this market attributes to the factors such as the huge technological advancements in beauty devices, rising aging population, and the increasing PCOS patients. Moreover, factors such as the well-developed technology and the increasing support from the government for research & development activities in the region substantiate the growth of the beauty devices market in North America. Owing to the increased R&D activities and the presence of major companies the region is likely to retain its dominance over the global beauty devices market throughout the forecast period.
The European region heading with the government support and availability of funds for research, accounts for the second-largest market for beauty devices, globally.
Germany backed by its flourishing medical devices market leads the regional market, allowing it to grow at a much higher rate than average in the industry.
The Asia Pacific region heading with the rapidly developing healthcare technology and improving economic conditions has stands as a promising market for beauty devices. The APAC beauty devices market is poised to witness the plentiful new product launches and thus, projects a high growth rate in the forthcoming years. Many at-home beauty device firms that had the foresight to enter Asian beauty devices market just in time have been rewarded with the high returns already.
The markets in Japan, China, and India are growing rapidly, commanding significant shares in the regional market. The beauty and personal care market in Korea, Japan, and China are also increasing owing to the rapid economic development in these countries.
Global Beauty Devices Market - Competitive Landscape
The fiercely competitive, beauty devices market appears to be fragmented characterized by the presence of several well-established players. These well-established players incorporate strategic initiatives such as acquisition, partnership, collaboration, expansion, and product launch to gain a competitive edge and to maintain their positions in the market.
When it comes to expansion, key players focus on improving their market performance and acquire promising companies in the fast-growing markets. Technology providers employ a continuous improvement strategy to analyze and update the software and invest heavily to implement improvements, and to launch new technologies to meet the changing needs of consumers.
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Beauty Devices Industry/ Innovation/ Related News:
January 07, 2019 –– La Roche-Posay (US), a leading global wellness brand providing dermatologist Tested Skin Care products introduces the world’s first wearable sensor – ‘My Skin Track pH’ at the Consumer Electronics Show in Las Vegas.
This sensor comes along with a companion app to easily measure personal skin pH levels and create customized product regimens to better care for skin. This innovative sensor uses microfluidic technology and measures skin pH levels accurately. A key indicator of skin health this revolutionary innovation is still at the prototype stage.