Global Beauty Device Market is one of the flourishing markets across the world. The global beauty devices market is expected to showcase a CAGR of 7.8 % as per a new report by Market Research Future (MRFR). Beauty devices are basically products that help in uplifting one’s physical appearance and resolve skin and hair problems. Hectic life, improper working schedules, and depression are some of the factors affecting the skin elasticity.
Beauty devices promise to offer the same service as one can receive from aesthetic treatment. Existing companies are focusing on advanced technology and unique approaches to create competition with the new entrants. With developing technology in every aspect of life, beauty devices have attracted a huge amount of consumers to adopt these technologically advanced products.
Beauty Devices Market – Competitive Analysis
The highly competitive, beauty devices market appears fragmented due to the presence of many well-established players having the global presence.
M&A activities, innovation, brand reinforcement, and collaboration remain the key trends for these players. Manufacturers are striving to develop high-performance beauty devices powered by the latest technology and clinical advances.
Dominant Players:
Some of key the players in the market are
- L’Oreal S.A.
- Nu Skin Enterprises
- Panasonic Corporation
- Syneron Medical Ltd
- Home Skinovations Ltd
- TRIA Beauty Inc.
- Procter & Gamble Co.
- PhotoMedex Inc.
- Tria Beauty Inc.
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Beauty Devices Market –Segmentation
The Global Market for Beauty Devices can be segmented on the basis of application, type, geography and end users. Based on the type of device, the market can be segmented into dermal rollers, hair removal, cellulite reduction, light/led therapy, oxygen and steamer, cleansing, hair growth, acne, photorejuvenation and others. Photorejuvenation devices along with light and LED therapy is expected to grow at the fastest rate during the forecast period 2017-2023.
The market can be segmented as per the usage such as spa, salon, at-home and others. Among these, salons are noted to hold the highest market value.
On the basis of end user, the market can be segmented into personalized and professional.
The market can be segmented on the basis of geography into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa, where Asia-Pacific is recorded to be the fastest growing market in beauty devices.
Industry News:
January 07, 2019 – La Roche-Posay (US), a leading global wellness brand providing dermatologist Tested Skin Care products introduces the world’s first wearable sensor – ‘My Skin Track pH’ at the Consumer Electronics Show in Las Vegas.
This sensor comes along with a companion app to easily measure personal skin pH levels and create customized product regimens to better care for skin. This innovative sensor uses microfluidic technology and measures skin pH levels accurately. A key indicator of skin health this revolutionary innovation is still at the prototype stage.
Capillus, LLC, a medical device manufacturer in Miami, in January 2015, had launched Capillus272 that promotes hair re-growth in people suffering from androgenic alopecia.
In April 2017, L’Oréal SA had launched a skin device which was based on mechanobiology techniques. This technique is a massage device with anti-aging effects that help in contouring lips, face and neck. This device can improve signs of technology by improving skin tissues.
October 16, 2018 – Pollogen Ltd. (Israel), a beauty-tech firm launched a new beauty device – Geneo Personal device that offers a ‘super-facial’ in less than 10 minutes, without having to go to the salon. The new sleek Geneo comprises an oxygenation system that can clean the skin in 6 minutes. It stimulates oxygen from beneath the skin for rejuvenating effect in minutes. The device is launching at $109 for Early Birds and will eventually retail at $249.
Beauty Devices Market –Regional Analysis
Regionally, the market for beauty devices can be segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. Asia-Pacific is expected to show the fastest growth during the forecast period.
America dominates the global market due to increasing patients with PCOS, advanced technology, increasing support from the government for R&D and rise in the aging population. Moreover, the concentration of major companies has fueled the growth in this region.
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Owing to the availability of funds and government support for R&D, Europe stands in the second position and is expected to grow over the forecasted period. Asia-Pacific is the fastest growing region in this market due to the presence of advanced healthcare technology, high healthcare cost, and huge patient population. China is leading the largest market share because of rising aging population and stupendous economic growth.
Meanwhile, regions like Africa and Middle East is expected to experience a luxurious growth in years to come.
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