Beauty Devices Market Revenue Analysis, Company Revenue Share, Forecast Till 2028

 

Beauty Devices Market

The beauty devices market has been proliferating rapidly mainly due to the ravishing outcomes that are provided by these devices in the professional as well as at home settings. Moreover, factors such as the huge technological advancements that are rapidly dropping the prices of these devices, making them extremely affordable are escalating the market on the global platform. 

Acknowledging the exponential upsurges, the market is climbing rapidly, Market Research Future (MRFR) in its recently published study report asserts that the global beauty devices market will witness significant growth, registering a CAGR of 7.8 % during the estimated period (2017 -2023). 

In addition to the rapid urbanization and better living standards led by the improving economic conditions, other factor impacting the market growth, equally, is the strong desire among consumers to look and feel young & beautiful. Moreover, the rising prevalence of skin diseases such as acne, melisma (photoaging of skin) and the disorders associated with excessive exposure to ultraviolet radiation and pollution such as wrinkles, are contributing to the high growth of the beauty devices market.

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Additionally, the benefits obtained by the beauty devices are considered as one of the major driving forces. The growing reach of the media has allowed manufacturers to expand their range and minimize recall value by offering a product suiting to consumer’s budget, body, skin, complexion type, and the environment. Furthermore, the growing requirement for brand differentiation in an increasingly competitive environment is expected to foster market growth.

On the other hand, factors such as disadvantages or side effects such as discomfort, excessive swelling, and sensitive skin, bruising, and blistering, associated with the mishandling or wrong application of these devices, alongside some of the prevailing side effects occurring post-treatment are impeding the market growth. Besides, some devices belch intense pulsed light which can trigger the side effects, such as scarring, superficial burns, edema, and postoperative erythema may hinder with the growth of beauty devices market.

Global Beauty Devices Market - Segments

MRFR has segmented the report into five key dynamics for an easy grasp;

By Technology : Transcutaneous Electrical Nerve Stimulation (TENS) Technology, Wearable Devices, Lasers Invigorate, and others.

By Type : Hair Growth Devices, Acne Removal Devices, Rejuvenation Devices, Skin Derma Rollers & Hair Removal Devices, Cleansing Devices, Oxygen, Light/LED Therapy & Photo Rejuvenation Devices, Steamer Devices, Cellulite Reduction Devices, and several others.

By Applications : Instrumental Cosmetics and Ultrasonic Infuser among others.

By End-user : Personalized (At home) and Professionals (Spas, Salons, Clinic, and others) among others.

By Regions: North America, Asia Pacific, Europe, and Rest-of-the-World (RoW).

Global Beauty Devices Market - Regional Analysis

The North American region accounts for the dominating market for beauty devices, globally. The largest share of this market attributes to the factors such as the huge technological advancements in beauty devices, rising aging population, and the increasing PCOS patients. Moreover, factors such as the well-developed technology and the increasing support from the government for research & development activities in the region substantiate the growth of the beauty devices market in North America. Owing to the increased R&D activities and the presence of major companies the region is likely to retain its dominance over the global beauty devices market throughout the forecast period.

The European region heading with the government support and availability of funds for research, accounts for the second-largest market for beauty devices, globally.

Germany backed by its flourishing medical devices market leads the regional market, allowing it to grow at a much higher rate than average in the industry.

The Asia Pacific region heading with the rapidly developing healthcare technology and improving economic conditions has stood as a promising market for beauty devices. The APAC beauty devices market is poised to witness the plentiful new product launches and thus, projects a high growth rate in the forthcoming years. Many at-home beauty device firms that had the foresight to enter the Asian beauty devices market just in time have been rewarded with the high returns already.

The markets in Japan, China, and India are growing rapidly, commanding significant shares in the regional market. The beauty and personal care market in Korea, Japan, and China are also increased owing to the rapid economic development in these countries.

Global Beauty Devices Market - Competitive Landscape

Highly competitive, the beauty devices market appears to be fragmented owing to the presence of several large and small-scale players. These players invest substantially in R&D to develop advanced sensors. High potential growth opportunities that the market demonstrates are in turn, attracting several new entrants to the market, further intensifying the competition in the already fiercely competitive market.

Well-established players incorporate strategic initiatives such as acquisition, collaboration, expansion, partnership, and product & technology launch in order to gain a competitive advantage in this market and to maintain their market positions.

To support their expansion plans, key players operating in the beauty devices market acquire promising companies in the fast-growing markets. Technology providers employ a continuous improvement strategy to analyze and update the software and invest heavily to implement improvements, and launch new technologies, meeting the changing needs of consumers.

Major Players:

Key players leading the global beauty devices market are Nu Skin Enterprises, L'Oreal S.A., Panasonic Corporation, Home Skinovations Ltd, Syneron Medical Ltd, TRIA Beauty Inc, PhotoMedex Inc, Procter & Gamble Co, Home SKinovations Ltd, Photomedax Inc., Lumenis Ltd., Carol Cole Company, Koninklijke Philips N.V., and Tria Beauty Inc., among several others. 

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