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.
1) Insight by Type
Based on type, the global beauty device market is categorized into:
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:
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.
1) Growth Drivers
Factors that have been acting as the driving factors for the growth of this industry are:
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.
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.
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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About the AuthorYash Chauhan
Joined: February 25th, 2019
Articles Posted: 106
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