Beauty Devices Market Size, Share, Growth, Demand and Forecast 2024

The factors contributing to the growth of the market include the rise in the prevalence of skin disorders, increasing rate of hormonal imbalance cases, an increase in the geriatric population, and growing awareness for beauty devices. The launch of at-home LED therapy devices is the latest trend observed in the market, while the high cost of beauty devices constraints the growth of the industry, globally.

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The major end user to the global beauty devices market is salon and spa, whereas, the rising number of at-home beauty devices are expected to witness a promising growth during the forecast period. The industry players are focused on the development of products that serves its consumers at the convenience of their home, without compromising the product’s efficacy.

The beauty devices market is poised to grow at CAGR of 18.3% during the forecast period (2018-2024). Asia-Pacific beauty devices industry is expected to witness a significant growth at a high CAGR of 19.8% during the forecast period. The growth is driven by the rising number of local players in the regional market, the large consumer base, and the increase in the number of salon and spas.

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The key players of the beauty devices industry include Panasonic Corporation, L’Oreal SA, Photomedax Inc., The Proctor & Gamble Company, Koninklijke Philips N.V. The market players for beauty devices are investing in the development of innovative and cost-effective products to target a large pool of consumers. For instance, in February, 2018, The Proctor & Gamble Company brand Gilellette Venus expanded its product portfolio with the launch of three new hair removal products, namely Venus Platinum Extra Smooth, Venus Face Perfection, and Venus Bikini Precision at prices $12.99, $34.99, and $19.99 respectively.

The companies are also collaborating with other industry players to attain a large market share in the future. Some of the other players include Home Skinovations Ltd, Carol Cole Company, Lumenis Ltd., Syneron Medical, and TRIA Beauty, Inc.

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