Beauty Devices Market is likely to surpass US$ US$ 80 Bn in revenues from 2021 to 2031

The global Beauty Devices Market is bound to grow on a robust note in the forecast period. The current scenario is such that the key stakeholders are into devising ASIC chips of their own to cater to their own distinctive products. As such, integration of hardware and software could happen in a better manner, that too, while keeping themselves distinctive from their counterparts. This would be the scene with semiconductors vertical going forward.

According to a revised study by Persistence Market Research, the global beauty devices market is expected to be valued at US$ 32 Bn in 2021, and is expected to expand at an impressive CAGR of more than 15% from 2021 to 2031, to reach a value of US$ 80 Bn in 2031.

Globally, the beauty devices market is witnessing significant growth due to increasing disposable income, which is enabling people to spend more on personal care. In addition, rise in aging the population and increasing prevalence of skin diseases and harmful effects of ultraviolet radiation are also driving the growth of the market.

However, there are various risks and complications associated with beauty devices which may lead to bruising, swelling, and redness. In addition, extended availability of easy-to-use beauty products inhibits the growth of the market.

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In North America, increasing aging population and availability of advanced devices are driving the use of beauty devices in the market. In addition, in the U.S., there are around 750,000 beauty salons and spas. These beauty salon and spas have propelled the demand for beauty devices and personal care products in order to offer better services to their customers.

Company Profiles:

L'Oréal Group.
Nu Skin Enterprises, Inc.
Home Skinovations, Ltd.
PhotoMedex, Inc.
TRIA Beauty, Inc.
Syneron Medical, Ltd.
Koninklijke Philips N.V.
Panasonic Corporation.
Carol Cole Company.

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In Europe, the beauty devices market is driven by rising aging population. In addition, in Spain the market is evolving due to rising awareness about potential healing applications of beauty devices in the treatment of skin and hair problems.

However, in Asia the growth for beauty devices is much higher than developed countries due to increasing disposable income, availability of multinational brands and the introduction of less expensive beauty devices.

Market Segmentation

Usage Area

Salon
Spa
At-home
Others

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Type

Hair removal devices
Cleansing devices
Acne devices
Rejuvenation devices
Light/LED therapy and photo rejuvenation devices
Oxygen and steamer devices
Hair growth devices
Skin Derma rollers
Cellulite reduction devices
Others

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This release was published on openPR.