Beauty devices are used for enhancing physical appearance such as treatment, cleansing and rejuvenating the skin, hair and other body parts. These include devices such as cleansing devices, photo-rejuvenation devices, oxygen & steamers, hair removal devices, acne devices, devices, hair rollers, and others. The global beauty devices market is anticipated to generate a 7.8 % CAGR during the forecast period of 2017-2023.
Prominent Players of Beauty Devices Market:
L’Oreal S.A., Syneron Medical Ltd, Nu Skin Enterprises, Procter & Gamble Co, Panasonic Corporation, TRIA Beauty Inc, Home Skinovations Ltd, PhotoMedex Inc, and others.
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Industry Trends and News:
Acquisitions and mergers marked the trend in 2016 as exemplified by the following.
Coty expanded its international footprint by the acquisition of Good Hair Day which specializes in hair straighteners and appliances.
Bellami aquired Mirabella so as to benefit from the distribution chain and reach.
Henkel acquired the hair care brands of P&G to strengthen its market position in Eastern Europe, and Middle East and Africa.
Revlon acquired Elizabeth Arden so as to benefit from greater economies of scale, prestige brands and to develop greater global footprint.
However L’Oreal acquisition of IT Cosmetics for approximately $1.2 billion marked the topic of discussion in 2016.
Dynamics of Beauty Devices Market:
Drivers
Increasing awareness, consumerization, growing acceptance of cosmetics, rising income of women, growing geriatric population, increasing prevalence of skin and hair problems are the prime drivers of the beauty devices market. The growing polycystic ovary syndrome and hormonal issues among females is a strong generator of the market. According to center of disease control, polycystic ovary syndrome affects 6 % to 12% of the U.S. women of reproductive age. The American Academy of Dermatology (AAD), estimates that approximately 85% of Americans suffer from acne at some point of their lives. Thus a huge unmet need is readily comprehendible.
Teenagers especially the millennial are expected to be the most lucrative market equity generators due to the growing adoptions of cosmetics in the group. The growing influence of the media and tourism industry is another factor driving the market.
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Restraints
The presence of alternative medicine and substitutes and side-effects from beauty devices are prime constraints on the market. The large market fragmentation coupled with the presence of poor spurious products have added pressure on the pricing margins. The lack of accreditation and poor regulatory issues in underdeveloped economies are other constraints on the market.
Segmentations of Beauty Devices Market:
Type – hair care (hair removal devices, hair growth devices, hair styling devices, and others), skin care (light/led and photo rejuvenation therapy devices, cellulite reduction devices, acne removal devices, and others), oral care, and others.
Hair removal devices hold the largest global market share of beauty devices, owing to increasing prevalence of polycystic ovary syndrome (PCOS) and hormonal problems among females.
Application – commercial purpose (salon/spas, hospitals/clinics, and others) and others.
End user – professional and personalized.
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Regional Analysis of Beauty Devices Market:
The Americas dominate the market owing to greater demand, rising aging population, and large number of baby boomers. Europe is expected to hold the second position driven by countries like France and Germany. France is set to dominate the market closely followed by Germany owing to high presence of global players such as L’Oreal S.A.
Asia Pacific is the fastest growing market owing to huge patient population, and growing income. China is expected to command the largest market share as well as growth owing to economic development and increasing aging population.
Middle East and Africa is expected to be dominated by UAE, Egypt, Turkey and others.
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