The latest market report published by Acute Market Reports “Beauty Devices Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the beauty devices market was valued at US$ 36.74 Bn in 2018 and expected to grow at a CAGR of 18.8% during the forecast period from 2019 to 2027.
“At-home beauty trends support the beauty devices market growth”
Rising awareness about beauty devices coupled with increasing hormonal disorders globally is some of the factors contributing to the growth of the market. Moreover, due to increasing at-home beauty trends, consumers are becoming more inclined towards using at-home beauty devices. As per the research studies around 79%, women in the U.S. do hair removal treatment at home. Moreover, around 69% of women in regions such as North America, Europe, and the Asia Pacific performs various facial treatment at-home. Thereby, increases the demand for at-home beauty devices market 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.
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 professionals 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 the 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 beauty devices market in the year 2018 and expected to continue its dominance during the forecast period. The high disposable income of consumers in the region supports the growth of the market. Moreover, consumers in the North America region are early adopters of new and improved technologies. The previously mentioned reasons are some of the key factors for the dominance of the region.
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
Nu Skin Enterprises Inc.
Procter & Gamble.
MTG CO., LTD
Home Skinovations Ltd.
Hitachi Power Semiconductor Device, Ltd.
Browse the full report at https://www.acutemarketreports.com/report/beauty-devices-market
The Global Beauty Devices Market is Segmented into:
By Product (2017–2027; US$ Bn)
By Application (2017–2027; US$ Bn)
By Technology (2017–2027; US$ Bn)
By End-User (2017–2027; US$ Bn)
By Geography (2017–2027; US$ Bn)
*Complete segmentation list is on the report page