Beauty Devices Market 2024 Analysis of Top Manufacturers, Market Share, CAGR

Posted by Yash Chauhan on February 26th, 2019

The global beauty devices market was pegged at USD 33.2 billion in 2017 and is projected to grow at a CAGR of 18.3% during the forecast period. The factors contributing to the growth of the market include the rise in the prevalence of skin disorders, increasing rate of hormonal imbalance cases, an increase in the geriatric population, and growing awareness for beauty devices.

Market Segmentation 

1)     Insight by Type

Based on type, the global beauty device market is categorized into:

  • Cleansing Devices
  • Hair Removal Devices
  • Skin Dermal Rollers
  • Acne Devices
  • Light/LED Therapy and Photo Rejuvenation Devices
  • Oxygen and Steamer Devices
  • Hair Growth Devices
  • Cellulite Reduction Devices
  • Others

Among the various type of beauty devices, hair removal devices are the largest contributor to the revenue generated in the global beauty devices market. The largest share of hair removal devices owes to the rising number of hormonal imbalance cases, specifically worldwide prevalence of polycystic ovary syndrome (PCOS), the most common hormonal disorder among women leading to facial hair growth.

2)     Insight by End User

The various end user of beauty device includes:

  • Beauty Clinics
  • Spas and Salons
  • At Home
  • Others

Salon and spa is the major shareholder based on end user for beauty devices market. The category’s large size is due to the increase in number salon and spa on a global level. Also, the increase in disposable income among emerging economies, and awareness to beauty treatments are expected to contribute to its large size.

Industry Dynamics

1)     Growth Drivers

Factors that have been acting as the driving factors for the growth of this industry are:

  • Increasing prevalence of skin conditions
  • Increasing rate of hormonal imbalance cases
  • Increase in the geriatric population
  • Growing awareness for beauty devices

2)     Industry Ecosystem

The market observes entry of local industry players, especially in developing economies of Asia-Pacific, creating the threat of new entrants in the global beauty devices market. The new players are leveraging market growth through launching innovative and advanced devices at low cost, which leads to material injury to existing market players.

Geographic Overview

  • North America — US, Canada, and Mexico
  • Europe — UK, Germany, France, Italy, Spain, and Rest of Europe
  • Asia Pacific — Japan, China, India, Australia, and Rest of Asia-Pacific
  • Rest of the World – Brazil, South Africa, Saudi Arabia, U.A.E., and Others

Geographically, North America is the largest beauty devices market, globally. This contribution is due to the demographic drift towards increasing ageing population, and awareness to the available treatment options. The North American market is also driven by the surge in the prevalence of skin conditions, such as acne, psoriasis, and rosacea. According to the American Academy of Dermatology, acne is the most common skin condition, affecting up to 50 million Americans annually.

Competitive Insight

The Key players in global beauty devices industry are: Panasonic Corporation, L’Oreal SA, Photomedax Inc., Home Skinovations Ltd, The Proctor & Gamble Company, Koninklijke Philips N.V., Carol Cole Company, Lumenis Ltd., Syneron Medical, and TRIA Beauty, Inc.

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Yash Chauhan

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Yash Chauhan
Joined: February 25th, 2019
Articles Posted: 106

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