Market Research Future (MRFR) in their report on the beauty devices market claimed that the market can register a CAGR of 7.8% during the forecast period (2017-2023). The recently published report also assures that the chances to exceed the valuation during that time for the market is considerably high. Beauty devices are products that enhance one’s physical appearance. These devices particularly focus on the skin and hair and treat them accordingly. Beauty Devices have grabbed the eyeballs of many across the globe due to which the market can expect substantial growth. Technology is playing a huge role in taking the market forward and also to a wider audience.
Ageing population, hormonal factors, aesthetic treatment, pollution causing skin and hair problem, and rising disposable income are some of the common factors that can take the market forward. At the same time, globalization has made it easier for different cultures to come up with some unique solution for beauty-related problems which results in innovative products. The wide acceptance of such products can help the market in expansion.
Although, price of such beauty products is an issue but rising disposable income in the urban cities all over the world would not allow the market to remain sluggish for such reason for a long span of time.
Beauty Devices Market – Segmentation
MRFR report segments the Global Beauty Devices Market by type, application, and end-user for a better analysis of the upcoming market.
Based on the type, the beauty devices market can be segmented into hair care, skin care, oral care, and others. Furthermore, hair care segmented into hair removal devices, hair growth devices, hair styling devices, and others and skin care segmented into light/led and photo rejuvenation therapy devices, cellulite reduction devices, acne removal devices, and others.
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Application-wise, the beauty devices market can be segmented into commercial purpose and others. Furthermore, the commercial purpose can be segmented into hospitals/clinics, salon/spas, and others.
On the basis of end-user, the beauty devices market can be segmented into professional and personalized.
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.
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.
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 – 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.
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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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