iCrowdNewswire Feb 8, 2021 6:15 AM ET
The market for beauty devices was valued at US$ 36.74 billion in 2018 and is expected to grow at CAGR by 18.8% over the forecast period from 2019 to 2027.
“At-home beauty trends supports the beauty devices market growth”
Raising awareness of beauty devices coupled with increasing hormonal disorders worldwide is one of the factors that contributes to the growth of the market. In addition, due to increasing at-home beauty trends, consumers are increasingly inclined to make use of at-home beauty devices. According to research studies of around 79 percent, women in the U.S. are taking hair removal treatment at home. In addition, around 69% of women in regions such as North America, Europe and Asia Pacific perform various facial treatments at home. Thereby, demand for home-based beauty devices is increasing globally.
Beauty devices are not only popular among the female population but also gaining popularity among the male population. As a result, manufacturers are developing a new product range of males. For instance, in August 2016, Clarisonic launched a new skincare device. Alpha fit specifically designed for men. The Alpha Fit is a hand-held device and can be carried in any suitcase or gym bag. The device is capable to remove dirt, sweat, and oil from men’s skin.
Top manufacturers of the beauty devices market are focusing to increase their product portfolio by launching new devices in the market.
“North America dominated the beauty devices market”
North America dominated the beauty device market in 2018 and expected to remain dominant in the forecast period. Consumers in the North American region are more likely to implement and use new technologies. In addition, increasing the disposable income of consumers in the region contributes to the growth of the market. The growing aging population and trends for home-based treatment devices are driving the growth of the beauty products market in the region. In addition, there is an increase in the prevalence of skin conditions in the region, such as acne, scar, etc. The American Academy of Dermatology Association suggests that Acne is the most common skin problem in the U.S, about 50 million Americans suffer from acne-related issues. Thereby, increases the demand for beauty devices in the region.
“Asia Pacific is projected to grow at a considerable rate during the forecast period”
The Asia Pacific is expected to grow at a noticeable rate during the forecast period due to the increase in the aging population. The World Population Aging Report 2017 suggests that the population aged 60 years and above is expected to increase from 550 million in 2017 to 1.3 billion by the year 2050. Moreover, rising disposable income and urbanization also increases the demand for beauty devices market in the region.
- In February 2017, Capillus LLC, producer of medical devices that develops hair loss treatment products received clearance from The U.S. Food and Drug Administration (FDA) for its new at-home laser therapy. The devices are previously available only by the prescription of healthcare professional but after the FDA clearance consumers suffering from androgenetic alopecia can purchase it from salons and online retailers.
- In January 2018, L’Oreal developed two new devices. The UV sense and UV patch are battery-free electronic devices that enable the consumers to provide information about individual ultraviolet (UV) exposure levels. The brand suggests that UV rays are topmost beauty and health concerns of consumers worldwide.
Key Market Movements:
- Globally, the beauty devices market is rising at a CAGR of 18.8% for the estimated period from 2019 to 2027
- North America dominated the global market for beauty devices in 2018 and expected to remain dominant in the forecast period. The high disposable income of consumers in the region contributes to the growth of the market. In addition, consumers in the North American region are beginning to adopt new and improved technologies. The reasons mentioned above are some of the key factors in the region’s dominance.
- The Asia Pacific expected to grow at a significant rate during the forecast period due to rising demand and improvement of personal care and beauty market in the region. Moreover, a large consumer base for beauty devices in the Asia Pacific region supports the growth of the market.
- The product segment led by hair removal devices during the year 2018 and expected to continue its dominance during the forecast period. The dominance s led by factors such as new product development and larger consumer penetration of hair removal devices.
- The Application segment subdivided into commercial, domestic and others. The commercial segment holds the largest share in the market in 2018 and expected to grow at a considerable CAGR during the forecast period. Moreover, the domestic segment expected to grow at the fastest rate over the forecast period.
- The lasers invigorate is expected to grow at a significant rate during the forecast period due to a large laser-based beauty device development around the globe.
List of Companies Covered:
- Koninklijke Philips N.V.
- Jebsen Consumer Products Co.. Ltd
- CANDELA CORPORATION.
- Nu Skin Enterprises Inc.
- Procter & Gamble.
- L’Oréal Paris
- Panasonic Corporation
- MTG CO., LTD
- Home Skinovations Ltd.
- TRIA BEAUTY
- Hitachi Power Semiconductor Device, Ltd.
Key questions answered in this report
- What are the current market trends and dynamics in the beauty devices market and valuable opportunities for emerging players?
- What is driving beauty devices market?
- What are the key challenges to market growth?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the beauty devices market?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
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Table of content:
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
126.96.36.199. Top-Down Approach
188.8.131.52. Bottom-Up Approach
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Beauty Devices (BD) Market
2.2. Global BD Market, by Product, 2018 (US$ Bn)
2.3. Global BD Market, by Application, 2018 (US$ Bn)
2.4. Global BD Market, by Technology, 2018 (US$ Bn)
2.5. Global BD Market, by End-user, 2018 (US$ Bn)
2.6. Global BD Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1.1. Global BD Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Beauty Devices (BD) Market, by Product, 2017-2027 (US$ Bn)
4.2. Hair Removal Devices
4.3. Acne Devices
4.4. Skin Derma Rollers
4.5. Hair Growth Devices
4.6. Cellulite Reduction Devices
4.7. Oxygen & Streamer Devices
4.8. Light/LED Therapy & Photorejuvenation Devices
4.9. Cleansing Devices
5. Global Beauty Devices (BD) Market, By Application, 2017-2027 (US$ Bn)
6. Global Beauty Devices (BD) Market, by Technology, 2017-2027 (US$ Bn)
6.2. Transcutaneous Electrical Nerve Stimulation (TENS) Technology
6.3. Lasers Invigorate
6.4. Wearable Devices
7. Global Beauty Devices (BD) Market, by End-user, 2017-2027 (US$ Bn)
7.2. Beauty Centers & Spas
7.3. Home-us Home-use e
7.4. Dermatology Centers
7.5. Others (Cosmetic Centers, Clinics, etc.)
8. North America Beauty Devices (BD) Market Analysis, 2017-2027 (US$ Bn)
8.1.1. North America BD Market Value and Growth, 2017-2027, (US$ Bn)
8.2. North America BD Market Value, By Product, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. North America BD Market Value, By Application, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. North America BD Market Value, By Technology, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.5. North America BD Market Value, By End-user, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.6. North America BD Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.6.1. Market Analysis
8.6.3. Rest of North America
9. Europe Beauty Devices (BD) Market Analysis, 2017-2027 (US$ Bn)
10. Asia Pacific Beauty Devices (BD) Market Analysis, 2017-2027 (US$ Bn)
11. Rest of the World Beauty Devices (BD) Market Analysis, 2017-2027 (US$ Bn)
12. Company Profiles
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Keywords: Beauty Devices Market, Beauty Devices Market Size, Beauty Devices Market Share, Beauty Devices Market Trend, Beauty Devices Market Growth, Beauty Devices Market Forecast