Beauty Device Market Is Influenced by Growing Hormonal Disorders - Industry analysis by Top Key Players, Future Growth, and Forecast up to 2024

Global Beauty Device Product market report provides analysis for the forecast period 2018–2024. The market study reveals that the market is projected to grow with a CAGR over 19.14% during the anticipated period in terms of value. The market is expected to reach over USD 106.314 billion by 2024. The given market growth is influenced by increasing inclination of consumers towards beauty devices which are easy to use at home, launch of innovative products and increasing utilization of electronic beauty devices. Moreover, consumer’s increasing dependency on electronic products will significantly drive the electronic beauty devices over the forecast period.

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The market overview section of the report demonstrates market dynamics such as trends, drivers, restraints, and opportunities that talks about the current nature and future scenario of the said market, key market indicators, end-user adoption analysis. Further, key market indicators included in the report provide the significant factors which are capable to define the market position of global beauty device product.

Growing hormonal disorders leading to abnormal hair loss and hair growth is driving the global beauty device market

Due to increasing exposure to pollution skin diseases, skin diseases are common in modern society and it is ever increasing. This is causing papules, hives, warts etc. Other factors contributing to skin diseases are excessive alcohol consumption and consumption of tobacco. Acne, hyperpigmentation, depigmentation, psoriasis, freckles, deep wrinkles, atopic dermatitis and melisma are some of the common skin problems.

Increase in the level of disposable income across the globe has led to a high spending on personal and beauty care products and devices. Rise in GDP per capita income and high disposable income has led to increasing spending power of the Asian population to purchase various beauty devices, which further drives the growth of the global market.

The key driver for the global beauty device market is rise in appearance consciousness consumers worldwide. Major aspect of people’s life is engrossed by social media. This in turn has attracted people towards beauty devices to enhance their appearance. For example the technological advancements in beauty devices with presence of laser treatments for skin lightening and tightening in short span of time will generate higher market revenue over the forecast period.

Global Beauty Device Market: Scope of the Report

The global market for beauty device is segmented by type of devices, application, and geography. The type is further segmented into hair removal devices, cleansing devices, acne devices, light/led therapy and photo rejuvenation devices, oxygen and steamer devices, hair growth devices, skin dermal rollers, cellulite reduction devices and others. The application is further segment into salon, spa, at home and others.

Geographically, the global beauty device market is bifurcated into North America, Asia Pacific, Europe, and Rest of the World. North America beauty device market was the most prominent market because beauty device industry is one the major revenue contributor within the manufacturing industries. Thus, the demands for beauty device products, like hair removal devices, cleansing devices, acne devices, light/LED therapy, etc will generate higher revenue returns over the forecast period.

Global Beauty Device Market: Competitive Dynamics

Major industry players in global beauty device market are adopting different strategic initiatives such as mergers and acquisitions, partnerships, and collaborations for strategic expansion in the beauty device market. For instance, In January 2017, L’Oréal signed an agreement with Valeant Pharmaceuticals to acquire; it’s the skincare brands including CeraVe, AcneFree, and Ambi for a consideration of USD 1.3 billion in cash. The acquisition is aimed to expand L’Oreal’s Active cosmetics division.

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Market Segmentation: Global Beauty Device Market

By Type
• Hair Removal Devices
• Cleansing Devices
• Acne Devices
• Light/LED Therapy
• Photo Rejuvenation Devices
• Oxygen
• Steamer Devices
• Hair Growth Devices
• Skin Dermal Rollers
• Cellulite Reduction Devices
• Others

By Application
• Salon
• Spa
• Home
• Others

By Region
• North America
• Europe
• Asia Pacific
• Rest of the World

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