Higher adoption of the technology and acceptance of beauty devices by customers can spell windfalls for the global beauty devices market till 2023. However, presence of suitable alternatives may dampen the market growth.
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Market Research Future (MRFR) postulates that the Covid-19 Analysis on Beauty Devices Market Share is slated to register a CAGR of 7.8% during the forecast period (2017-2023).
Market Potential and Pitfalls:
The rising familiarity of skin and hair problems which is resulting in photo aging of the hair and skin is increasing owing to the high subjection of UV radiation and pollution across the globe. This further leads to hair loss, skin elasticity, and sunburns, which triggers the demand for beauty devices. The market’s course is chiefly directed by the increased awareness regarding beauty services and devices, growing hormonal diseases among the global population, augmenting geriatric population, continuous technological advancements, and surging incidences of hair and skin problems.
Although, price of such beauty products are an issue but rising disposable income in the urban cities all over the world would not allow the market to remain sluggish for such reason for a long span of time.
- Nu Skin Enterprises
- L'Oreal S.A.
- Syneron Medical Ltd
- Panasonic Corporation
- TRIA Beauty Inc
- Home Skinovations Ltd
- PhotoMedex Inc
- Procter & Gamble
Global Beauty Devices Market: Segmental Analysis:
- The Global Beauty Devices Market has been segmented on the basis of application, technology, type, and end-user.
- By mode of type, the global beauty devices market has been segmented into acne removal devices, hair growth devices, skin derma rollers & hair removal devices, rejuvenation devices, oxygen, cleansing devices, steamer devices, light/LED therapy & photo rejuvenation devices, cellulite reduction devices, and others..
- By mode of application, the global beauty devices market has been segmented into ultrasonic infuser and instrumental cosmetics.
- By mode of technology, the global beauty devices market has been segmented into wearable devices, transcutaneous electrical nerve stimulation (TENS) technology, lasers invigorate, and others.
- By mode end-users, the global beauty devices market has been segmented into personalized and professionals.
Geographically, the beauty devices market span across regions namely, Europe, Asia Pacific, America, and the Middle East & Africa.
Considering the global scenario, the beauty devices market is dominated by the American region due to a well-developed technological base, growing geriatric population, increased patients suffering from PCOS, and rising support from the government for R&D activities in this region.
The European region is considered to occupy the second spot in the global market and is likely to retain its growth. The growth is credited to the increased government support for R&D activities coupled with the high availability of funds for research. For instance, economies like France and Germany are constantly increasing investments in the healthcare sector which is likely to influence the market growth.
The Asia Pacific region is estimated to expand at the fastest rate due to the presence of rapidly developing healthcare technology, surging expenditure on healthcare, and presence of huge patient population in this region. With the surging demand for beauty devices and new treatment methods especially in economies like China and India are likely to foster the market growth in this region. China is predicted to command the largest market share due to growing aging population and immense economic development
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