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Beauty Devices Market Demand, Sales and Consumption Status and Growth Opportunities Forecast to 2023 - P&S Intelligence
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Based on type of device, the beauty devices market is categorized into hair removal, cleansing, acne, light/LED therapy and photorejuvenation, oxygen and steamer, hair growth, dermal rollers, cellulite reduction, and other devices. The market for hair removal devices is predicted to reach $25.0 billion by 2023, registering a CAGR of 20.0% during the forecast period. This is attributed to the occurrence of hormonal disorders leading to abnormal hair growth in the body and the availability of user friendly, compact, and innovative hair removal devices.
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During the forecast period, the European beauty devices industry is expected to outpace the North American beauty devices industry, in terms of growth, on account of increasing healthcare spending, growing aging population, increasing prevalence of skin diseases, and technological advancements in beauty devices.
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L’Oréal Group offers its skin care devices under the brand Clarisonic; the company offers a range of products under this brand, such as Clarisonic Mia 1, Clarisonic Mia 2, and Clarisonic Mia 3. However, L’Oréal’s hair care device offerings are fewer in number as compared to its skin care devices. In terms of product offerings, Philips is the leading player in the market, offering products for hair removal, skincare, and hair care. Philips offers both skin care and hair care devices, such as hair dryers, pro straighteners, IPL hair removal devices, and epilators for hassle-free hair removal.
Some of the other key players operating in the beauty devices market are Panasonic Corporation, Lumenis Ltd, Home Skinovations Ltd, the Procter & Gamble Company, Syneron Medical Ltd, iluminage Beauty Inc., Koninklijke Philips N.V., and Carol Cole Company.
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