Beauty Devices Market

Beauty Devices Market is Growing Rapidly Due to Increase in Spending on Personal Care

The beauty devices market is set to cross $94.0 billion by 2023, growing at CAGR of 19.1% between 2017-2023.

Increasing prevalence of skin diseases, growing aging population, increasing hormonal disorders and rising disposable income are some of the major factors driving the growth of the market. 

In terms of type, the beauty devices market is classified into hair removal devices, cleansing devices, acne devices, light/LED therapy and photorejuvenation devices (LT&P), oxygen & steamer devices, hair growth devices, skin dermal rollers, cellulite reduction devices, and others. The others comprise of spa brush, tweezers, facial sponges and pluckers. The hair removal devices held the largest share in the beauty devices industry in 2016, primarily due to increasing availability of user friendly epilators and shavers. The light/LED therapy and photorejuvenation devices (LT&P) market is expected to witness fastest growth during the forecast period. The higher growth for LT&P is attributed to the increasing awareness about advanced features offered by light/LED therapy and photorejuvenation devices for treating wrinkles, blemishes and sagged skin.

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The increasing appearance consciousness among consumers, due to increasing exposure to media is driving the demand for beauty products and devices. The increasing appearance consciousness among consumers, has further led the manufacturers of these products to launch new and innovative beauty products, globally. The technological advancements in beauty devices with presence of laser treatments for skin lightening and tightening in short span of time also contributes to the market growth. Laser devices for hair removal helps in removing unwanted hair from face, leg, arm and other areas of the body in few uses. Similarly, Light/LED therapy and photo rejuvenation devices helps in removing pigmentation, dark spots and tightens the skin. The growing appearance consciousness among men and women across the globe coupled with easy availability and application of beauty devices, drives the beauty devices market growth.

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The Asian beauty devices market is set to cross $24.5 billion by 2023, growing at a CAGR of 21.1% between 2017-2023. The factors driving the growth of the Asian market includes the growing geriatric population and increasing awareness about potential applications of these devices for the treatment of skin problems. Among the various countries in the Asian region, China held the largest share of the Asian beauty devices industry with 23.9% contribution in 2016.

Some of the key players in the beauty devices market include L’Oreal SA, Panasonic Corporation, Home Skinovations Ltd and Photomedax Inc., Carol Cole Company, Lumenis Ltd., The Proctor & Gamble Company, Syneron Medical, TRIA Beauty, Inc., and Koninklijke Philips N.V.

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