The global beauty devices market was valued at USD 39.1 billion in 2018 and is anticipated to grow at a CAGR of 18.4% during the forecast period. Several devices such as cellulite reduction devices, hair removal devices, acne devices, cleansing devices, light/led therapy and photo rejuvenation devices, hair growth devices, oxygen and steamer devices, skin dermal rollers, contributes to the beauty devices market size. The significant growth in the beauty devices industry is imputed to the rise in prevalence of skin disorders, increasing rate of hormonal imbalance cases, an increase in the geriatric population, and growing awareness for beauty devices.

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Hair loss condition is one the common skin condition that is associated to the ageing population and hormonal imbalance. According to the American Hair Loss Association, Androgenetic Alopecia or common male pattern baldness (MPB) accounts for more than 95% of hair loss in men. Additionally, common causes for female baldness include ageing, hormonal imbalance leading to PCOS, medication and other illnesses. There has been a growing awareness of beauty devices in both the developed and developing economies that will drive the growth of the overall global beauty devices during the analysis period.

The devices available in the market are costly, that restrain the growth of the global beauty devices market. With the increasing research and development activities and development of technologically advanced and had held devices, the cost for these devices is also increasing. The cost of these devices has been the key challenge before the market players, as these players have to ensure the maximum profit without having any negative impact on the affordability of these devices.

The market observes entry of local industry players, especially in developing economies of Asia-Pacific, creating 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.

Moreover, the beauty devices industry is expected to be driven by emerging economies of Asia-Pacific, such as China, India, and Korea. This exhibits large revenue generation opportunity in these countries due to the increase in consumer base and the growing number of salons and spas across the region.

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Market players in the beauty devices industry are enhancing their market share through collaborations, focusing on the development of products with advanced features. The key players operating in the beauty devices industry include a large share of contribution from companies that include 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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