Beauty Devices Market Overview
The global Beauty Devices Market is expected to exhibit a CAGR of 7.8% over the forecast period. Beauty devices are devices which can enhance an individual’s outer appearance by focusing on the skin and hair.
These devices can impart the same effects as cosmetic treatment. The global beauty devices market report by Market Research Future (MRFR) takes a deeper look at the growth engines and obstacles for the period of 2017 to 2023 (forecast period).
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Major drivers of the market growth are rising prevalence of skin and hair problems, hormonal disorders, awareness of these devices, high disposable income levels of customers, and the overwhelming large geriatric population.
The COVID-19 impact on Beauty Devices Market has disrupted the production and distribution chain of beauty device manufacturers. The lockdown imposed by governments to quell the spread of the virus and logistical issues can hamper the market growth. The impact of the COVID-19 pandemic and measures to tackle production and distribution issues are discussed in the report.
Beauty Devices Market Segmentation
The global beauty devices market is segmented on the basis of type, application, and end user.
On the basis of type, it is segmented into hair care, skin care, oral care, and others. Furthermore hair care segmented into hair styling devices, hair removal devices, hair growth devices, and others. On the flip side, the skin care segmented into acne removal devices, light/led and photo rejuvenation therapy devices, cellulite reduction devices, and others. The hair care segment is expected to lead the market owing to rising numbers of hair problems. Within the segment, hair removal devices can capture a large market share owing to hormonal problems and polycystic ovary syndrome (PCOS) among women.
On the basis of application, it is segmented into commercial purpose and others. Furthermore, the commercial purpose segment comprises hospitals/clinics, salon/spas, and others. On the basis of end user, it is segmented into professional and personalized.
Beauty Devices Market Regional Analysis
The Americas can dominate the global beauty devices market owing to rising aging population, well-developed technology within devices, rise in number of patients with PCOS, and increasing government support for research & development. Furthermore, the spate in investment by players and the concentration of major companies have fuelled the growth of the market in this region. Latin America is expected to showcase promising growth over the forecast period.
Europe is touted to hold the second position in the global beauty devices market owing to inflow of capital for research and development and government support for research & development. This is expected to spur the European market over the forecasted period. This is exemplified by the increased budget for healthcare in Germany and France.
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APAC is the fastest growing region in the beauty devices market owing to investments in healthcare infrastructure, huge patient pool, and high healthcare expenditure. Moreover, increasing demand for new treatment methods in countries of India and China due to medical tourism is likely to be an influential catalyst of the market. Furthermore, increasing demand for quality devices in healthcare can bode well for the market. China is commanding the largest market share owing to economic development and increasing aging population. On the other hand, MEA is expecting a strong growth rate in the coming years.
Beauty Devices Market Competitive Outlook
Procter & Gamble Co, TRIA Beauty Inc, Home Skinovations Ltd, Tria Beauty Inc., Panasonic Corporation, Syneron Medical Ltd, PhotoMedex Inc, L’Oreal S.A., and Nu Skin Enterprises are key players of the global beauty devices market.
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