Global Beauty Devices Market: Overview
Growing familiarity of hair and skin problems, that is, photoaging of skin and hair, is growing due to high subjection to pollution and UV radiation. This results in reduced skin elasticity, hair loss, and sunburns, which in turn increases the global market demand for beauty devices. Various other elements due to which hair and skin diseases are generated include tobacco use, environmental pollution, ultraviolet radiation, and excessive alcohol consumption. Several incidences of skin diseases are also evolving owing to infections caused by viruses, bacteria, and fungi. The global market for beauty devices experienced a huge revenue growth which is anticipated to rise in future.
Global Beauty Devices Market: Segmentation
The global market for beauty devices is segmented on the basis of type and usage area. On the basis of type, the global market comprises of acne removal devices, hair growth devices, skin derma rollers, rejuvenation devices, cleansing devices, hair removal devices, light/LED therapy oxygen and steamer devices, cellulite reduction devices, photo rejuvenation devices, and others. On the other hand, usage comprises of salons, spas at home, and others.
Global Beauty Devices Market: Growth Factors
Aging population is one of the major factors that is responsible for the growth of the global market for beauty devices since old age is equivalent to a lessened vascular and glandular network in the skin layers and deprivation of fibrous tissues. Also in the aged population, the attribute and aspect of the skin get amended leading to sagging of the skin, dryness, pigment alteration, and wrinkles. Additionally, devices and products for anti-aging assist in reducing skin aging and giving younger look by revitalizing and tightening the skin which further enhances the market demand. This led to the invention of new devices in the market. For instance, in 2014, Foreo Luna introduced a Foreo Luna Platinum for men worth $8,800, which used to clean and massage the face.
However, certain undesirable effects related to its usages such as postoperative erythema, scarring, superficial burns, ecchymosis, and edema is one of the factors hampering the global market growth. Certain dangers associated with photo rejuvenation devices including bruising, discomfort, fragile skin, excessive swelling, as well as blistering act as the essential control for the market growth.
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Global Beauty Devices Market: Regional Analysis
Geographically, the global market is categorized into Europe, North America, Latin America, Asia, and Rest of the World (RoW). Of these, North America will rule in the global market due to the availability of a large number of aging population and advanced devices. Asia is estimated to indicate towering rates in the coming future in the global market. China and India are estimated to grow faster than any other country in the Asian market. Moreover, the personal care and beauty market in China are also fueling due to the fast and quick economic development in the country.
Global Beauty Devices Market: Competitive Players
Some of the key players in the global market for beauty devices include PhotoMedex Inc., Nu Skin Enterprises Inc., Panasonic Corporation, Syneron Medical Ltd., TRIA Beauty Inc., Procter & Gamble, L’Oréal Group, Carol Cole Company, Koninklijke Philips N.V., Home Skinovations Ltd., and others. These leading contenders have captured the seniority of the global market. The entrance of new companies is estimated to rise the level of competition in the future. Moreover, companies that are ruling the new entrants, as well as the market, are attempting harder to volunteer quality products for maintaining their image and industry standards in the global market.
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