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 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.
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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 – Competitive Analysis
The highly competitive, beauty devices market appears fragmented due to the presence of many well-established players having the global presence.
M&A activities, innovation, brand reinforcement, and collaboration remain the key trends for these players. Manufacturers are striving to develop high-performance beauty devices powered by the latest technology and clinical advances.
Dominant Players:
Some of key the players in the market are
- L’Oreal S.A.
- Nu Skin Enterprises
- Panasonic Corporation
- Syneron Medical Ltd
- Home Skinovations Ltd
- TRIA Beauty Inc.
- Procter & Gamble Co.
- PhotoMedex Inc.
- Tria Beauty Inc.
Industry 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.
Capillus, LLC, a medical device manufacturer in Miami, in January 2015, had launched Capillus272 that promotes hair re-growth in people suffering from androgenic alopecia.
In April 2017, L’Oréal SA had launched a skin device which was based on mechanobiology techniques. This technique is a massage device with anti-aging effects that help in contouring lips, face and neck. This device can improve signs of technology by improving skin tissues.
October 16, 2018 – Pollogen Ltd. (Israel), a beauty-tech firm launched a new beauty device – Geneo Personal device that offers a ‘super-facial’ in less than 10 minutes, without having to go to the salon. The new sleek Geneo comprises an oxygenation system that can clean the skin in 6 minutes. It stimulates oxygen from beneath the skin for rejuvenating effect in minutes. The device is launching at $109 for Early Birds and will eventually retail at $249.
Beauty Devices Market – Segmentation
The Global Market for Beauty Devices can be segmented on the basis of application, type, geography and end users. Based on the type of device, the market can be segmented into dermal rollers, hair removal, cellulite reduction, light/led therapy, oxygen and steamer, cleansing, hair growth, acne, photorejuvenation and others. Photorejuvenation devices along with light and LED therapy is expected to grow at the fastest rate during the forecast period 2017-2023.
The market can be segmented as per the usage such as spa, salon, at-home and others. Among these, salons are noted to hold the highest market value.
On the basis of end user, the market can be segmented into personalized and professional.
The market can be segmented on the basis of geography into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa, where Asia-Pacific is recorded to be the fastest growing market in beauty devices.
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Beauty Devices Market – Regional Analysis
Regionally, the market for beauty devices can be segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Asia-Pacific is expected to show the fastest growth during the forecast period.
America dominates the global market due to increasing patients with PCOS, advanced technology, increasing support from the government for R&D and rise in the aging population. Moreover, the concentration of major companies has fueled the growth in this region.
Owing to the availability of funds and government support for R&D, Europe stands in the second position and is expected to grow over the forecasted period. Asia-Pacific is the fastest growing region in this market due to the presence of advanced healthcare technology, high healthcare cost, and huge patient population. China is leading the largest market share because of rising aging population and stupendous economic growth.
Meanwhile, regions like Africa and Middle East is expected to experience a luxurious growth in years to come.
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