The Global Beauty Devices Market, As Per A Report By Market Research Future (MRFR) Is Touted To Register A CAGR Of 7.8% During The Forecast Period (2017-2023).
Introduction of innovative products and soaring utilization of electronic beauty devices are some of the primary trends observed in the beauty devices market. Launch of innovative and latest beauty devices are assisting aestheticians, dermatologists, and clinicians reduce signs of aging, treat several skin diseases, and enhance skin textures. Nu Skin Enterprises Inc., for instance, launched ageLOC LumiSpa in January 2018, which is a rechargeable and waterproof handheld personal skincare cleansing equipment. Such factors will encourage the market in the foreseeable future.
Growth in the geriatric population plays a vital role in the growth of the market. Aging causes reduced glandular and vascular network and loss of fibrous tissues in the layers of the skin. Anti-aging devices and products assist in reducing aging marks, thereby offering a younger look by tightening and revitalizing the skin. It has also been observed that rising disposable income of the population has resulted in high spending on beauty care and personal care products, thereby encouraging the market growth across the globe.
Market players in the beauty devices market are taking several initiatives and strategic measures like mergers and acquisitions, product launches, and geographical expansion in order to gain a competitive edge in the global market. This is estimated to influence the market growth to a great extent.On the contrary, high availability of cheaper beauty products and high cost of such beauty devices and products are some of the primary concerns likely to restrict the market growth in the coming years.
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August 2019: Lubrizol is all set to reorganize its home, personal, and healthcare business lines besides competing for its acquisition of Bavaria Medizin Technologie GmbH. The business lines are grouped under a new brand, Lubrizol Life Science.
August 2019: Western skincare brands have recently released a new generation of tech-enabled devices, which enable a hyper-personal approach to skin and beauty health.
The top players operating in the beauty devices market include Nu Skin Enterprises, L’Oreal S.A., Syneron Medical Ltd, Panasonic Corporation, TRIA Beauty Inc, Home Skinovations Ltd, PhotoMedex Inc, Procter & Gamble Co, and Tria Beauty Inc.
Global Beauty Devices Market: Segmental Analysis
By type, the beauty devices market is segmented into skin care, hair care, oral care, and others. Of these, the skincare segment is predicted to gain huge prominence compared to other segments due to increasing skin diseases among the consumers. The availability of numerous products related to healthcare has further promoted the market’s growth.
By application, the market is segmented into commercial purpose, domestic purpose, and others.
By end user, the market is segmented into personalized and professional. Of these, the professional segment is likely to gain prominence in the foreseeable future due to the significant growth in the number of salons across the globe.
Geographically, the beauty devices market spans across Asia Pacific, Europe, America, and the Middle East & Africa.
Considering the global scenario, America is considered to dominate the global market, mainly due to increasing patients suffering from PCOS, presence of well-developed technology in the region, rising support from the government for R&D, and growing geriatric population. The existence of industry bigshots in the region has further encouraged the regional market’s growth. North America will lead the market owing to advancing technology in beauty devices.
Europe bags the second spot in beauty devices market due to extensive support from the government for research and development, along with the high availability of funds for research. Economies like France and Germany are likely to increase their investments in the healthcare domain, which is further estimated to contribute to the market’s growth in the foreseeable future.
The Asia Pacific will expand at the fastest rate due to the existence of a huge patient population, rapidly evolving healthcare technology, and high healthcare expenditure. Rising demand for new treatment methods in nations like China and India is estimated to encourage the market growth in the APAC. Soaring demand for quality devices has resulted in the use of advanced equipment, which will support the market growth in the region.
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1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1 Prevalence of Beauty Devices Market by Key Countries
4.2 Regulatory Scenario by Key Regions
4.3 Key Industry Developments
4.4 Overview of Current Advances in R&D for Beauty Devices Market
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