Beauty Devices are constantly and reliably turning everyone’s dreams to look flawlessly beautiful. Everybody wants to look and feel at their best and this very desire is providing impetus to the Beauty Devices Market fabricating it as ever ravishing. Until a couple of years, beauty treatments that were sinfully expensive and required a highly dermatologist, plastic surgeon, or an esthetician; Beauty Devices are making it available at ridiculously affordable. While some conditions and desired results still require trip to a professional, enhanced with the emerging technology beauty devices today are making available a variety of options to treat head to toe beauty related concerns. Although, some of these advancements are immensely beneficial, and others aren’t making their way as desired, most of the beauty devices offering desired results are gaining increasingly popular. Due to which the Beauty Devices Market is increasingly gaining traction on the global level.
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Accrediting the sedulous work of the key players operating in the market to bring technological advancements and novelties in Beauty Devices, which is driving the it’s market pervasively demonstrating phenomenal growth prospects, the Market Research Future has recently published a meticulous study report giving out the market insights up to 2023. According to which, the global Beauty Devices market is expected to grow at a CAGR of 7.8 % during the forecast period 2017-2023.
In addition to urbanization, increased disposable income and better living standards, earlier mentioned “desire” to look and feel young & beautiful is driving the beauty devices market. Moreover, raising prevalence of skin diseases such as Acne, wrinkles, Melisma or photoaging of skin associated with excessive exposure to pollution and ultraviolet radiation, which results in sunburns, reduced skin elasticity, and hair loss is contributing to the elevated growth of the Beauty Devices Market. Additionally, advantages offered by the Beauty Devices are considered as one of the major drivers of the market. Also, the growing reach of the media has allowed marketers to expand their range and recall value by offering a product suitable to consumer’s budget, body, skin & Complexion type and geographical weather & environment. And last but not the least the growing requirement for brand differentiation in an increasingly competitive environment is expected to drive the market.
Yet, the factors like disadvantage associated with usage or mishandling and wrong application of these devices, such as, discomfort, excessive swelling, and sensitive skin, bruising, and blistering and some of the prevailing side effects occurring post treatment of the affected area are restricting the market growth of Beauty Devices. Additionally some of the devices belch intense pulsed light that can trigger the side effects, such as superficial burns, scarring, edema, and postoperative erythema may hinder with the growth of Beauty Devices Market.
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Beauty Devices Market – Competitive Analysis
The Global Beauty Devices Market is driven by some of the prominent players including L’Oreal SA. Group, Nu Skin Enterprises, Panasonic Corporation, Syneron Medical Ltd, Home Skinovations Ltd, TRIA Beauty Inc, Procter & Gamble Co, PhotoMedex Inc, Carol Cole Company, Lumenis Ltd., Tria Beauty Inc. and Koninklijke Philips N.V. Acknowledging, the sedulous work of these key players, MRFR profiles them in its market analysis.
The global Beauty Devices market is highly fragmented and competitive with the presence of many well established players having regional and global presence. Innovation, mergers & acquisitions, brand reinforcement and collaboration remain the key trends for leading players. Manufacturers are striving to deliver the most high-performance beauty concern solutions powered by the latest clinical advances and technology to gain the competitive edge. Some of them have even branched out to target new audiences with lower-priced options, as well as men with male-specific devices. All of these efforts have reaped a good result. Significant growth in the market and immense revenue generation opportunities are attracting several new players to enter the global beauty devices.
Industry/ Innovations/Related News:
Dec. 11, 2017 – NYX Professional Makeup and Samsung Electronics America, Inc., announced the launch of an innovative virtual reality makeup tutorial, merging the world of beauty and technology like never before through Samsung Gear VR. The partnership allows both brands to push the boundaries of shopping at the intersection of beauty and technology.
December 07, 2017 – Aldi (UK) commenced online selling Remington curlers and strengtheners, permanent hair removal devices and electronic facial cleansers.
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Beauty Devices Market -Regional Analysis
The Americas dominate the global beauty devices market owing to well-developed technology, increasing patient with PCOS, rising aging population, and increasing government support for research & development. Furthermore, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region. Some regions of Latin America are also expected to rise at a faster pace.
Europe holds the second position in the global beauty devices market owing to the government support for research & development and availability of funds for research. This is expected to continue to drive the European market over the forecasted period. For instance, countries like Germany and France are increasing investment in the healthcare domain.
Asia Pacific is the fastest growing acquired beauty devices market owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover, increasing demand for new treatment methods in countries like India and China is likely to emerge as the fastest growing market across the globe. In the Asia Pacific region, China is commanding the largest market share owing to tremendous economic development and increasing aging population.
On the other hand, the Middle East and Africa is expecting a luxurious growth in coming years. On the basis of consumer awareness, the usage of beauty devices is dominant across all age groups.
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