Beauty Devices Market Is Expected to Witness Growth Over the Next Five Years, On Account of Increasing Levels of Pollution And Its Detrimental Effects On Skin And Hair, Industry Grow At A CAGR Of 7.8 % During The Forecast Period -2023, Consistent Product Innovation Coupled With Large Scale Spending On R&D And Huge Marketing Budgets.
L’Oreal S.A., Panasonic Corporation, Nu Skin Enterprises, Syneron Medical Ltd, TRIA Beauty Inc, Home Skinovations Ltd, Procter & Gamble Co, Tria Beauty Inc., and PhotoMedex Inc are some of the key vendors contributing to the development of the global beauty devices market.
Beauty devices are used for treating problems associated with skin or hair to enhance the physical appearance of the patient. Market Research Future (MRFR) has asserted in its latest report that the global beauty devices market is set to exhibit 7.8% CAGR across the forecast period 2017 to 2023. The increasing burden of hormonal disorders such as PCOS is prognosticated to boost the demand for hair removal devices. Similarly, the rising prevalence of skin and hair diseases are poised to attract a larger customer base in the forthcoming years.
The developments in technology are projected to impact the expansion of the beauty devices market favorably over the next few years. Rising awareness about these devices is set to open new avenues of growth opportunities in the nearby future. However, the adverse effects of these devices are likely to undermine market growth in the foreseeable future.
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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The different segments of the beauty devices market, based on type, include hair care, oral care, skincare, and others. The sub-segments of the hair care segment are hair growth devices, hair removal devices, hair styling devices, and others. The skincare segment covers sub-segments such as light/led and photo rejuvenation therapy devices, acne removal devices, cellulite reduction devices, and others.
The key applications identified in the segmental analysis of the beauty devices market are commercial purpose (hospitals/clinics, salon/spas, and others) and others.
Based on end-user, the global beauty devices market has been segmented into personalized and professional.
Geographical evaluation of the global beauty devices market spans across a few of the major regions such as Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific (APAC). Among these, Americas is expected to account for the dominant share of the global market over the next couple of years. One of the prime factors influencing the expansion of the regional market is the increasing prevalence of PCOS. Other factors such as rising geriatric population, rising government support, etc. are further anticipated to boost the revenue growth of the beauty devices market.
Rising investments in research & development by the key players based out of the region is expected to encourage the proliferation of the regional market in the upcoming years. Asia Pacific is assessed to expand at a relatively higher CAGR across the projection period. India and China, the two emerging markets o the world, are poised to contribute substantially to the development of the beauty devices market in the region over the assessment period. The adoption of advanced healthcare technology, coupled with rising healthcare expenditure, is projected to accelerate the revenue growth of the regional market in the foreseeable future.
The market participants are resorting to action plans such as mergers & acquisitions, collaborations, product launches, technological innovations, geographical expansion, etc. Increasing investments in research & development in order to leverage next-gen technologies is also anticipated to intensify the competitive scenario of the market in the years to come. The entry of new players is expected, which can be attributed to the boom witnessed in the startup culture on the global front.
Latest Industry News:
In June 2019, Foreo, a beauty and wellness brand based out of Sweden, has announced the launch of LUNA 3, one of the products in its LUNA range of facial cleansing devices, exclusively on Amazon Luxury Beauty.
In May 2019, Meitu, a well-known Chinese app developer, has announced the introduction of an AI powered skin cleansing device, MeituSpa, as a part of its ‘beauty and social media strategy’.
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
LIST OF TABLES:
Table 1 Beauty Devices Industry Synopsis, 2017-2023
Table 2 Global Beauty Devices Market Estimates And Forecast, 2017-2023, (Usd Million)
Table 3 Global Beauty Devices Market By Region, 2017-2023, (Usd Million)
Table 4 Global Beauty Devices Market By Product Type, 2017-2023, (Usd Million)
Table 5 Global Beauty Devices Market By Application, 2017-2023, (Usd Million)
Table 6 Global Beauty Devices Market By End Users, 2017-2023, (Usd Million)
Table 7 North America Beauty Devices Market By Product Type, 2017-2023, (Usd Million)
Table 8 North America Beauty Devices Market By Application, 2017-2023, (Usd Million)
Table 9 North America Beauty Devices Market By End Users, 2017-2023, (Usd Million)
Table 10 Us Beauty Devices Market By Product Type, 2017-2023, (Usd Million) Others…..
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Segmentation For Global Beauty Devices Market
Figure 3 Segmentation Market Dynamics For Beauty Devices Market
Figure 4 Global Beauty Devices Market Share, By Product Type 2016
Figure 5 Global Beauty Devices Market Share, By Application 2016
Figure 6 Global Beauty Devices Market Share, By End Users, 2016
Figure 7 Global Beauty Devices Market Share, By Region, 2016
Figure 8 North America Beauty Devices Market Share, By Country, 2016
Figure 9 Europe Beauty Devices Market Share, By Country, 2016
Figure 10 Asia Pacific Beauty Devices Market Share, By Country, 2016 others….
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