Beauty Devices Market Outlook: Revenue Growth Trends and Key Players' Strategies | Panasonic Corporation, Lumenis Ltd., Nu Skin Enterprises Inc., TRIA Beauty Inc

The global beauty devices market, valued at USD 24.40 Billion in 2022, is poised to witness substantial growth, registering a rapid revenue CAGR of 11.8% during the forecast period. This surge is attributed to a growing awareness of skin issues and advancements in beauty device technology.

Skin problems such as sunburn, hair loss, and diminished skin sensitivity, exacerbated by increased exposure to UV radiation and pollution, are driving the demand for beauty products. Common conditions like acne and eczema affect millions worldwide annually, emphasizing the need for effective solutions.

One key driver of market growth is the rising demand for personalized beauty treatments. Customization techniques, facilitated by cutting-edge software like the WaySkin app and L'Oréal's Perso, enable tailored skincare solutions, addressing specific skin conditions and types.

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Despite these drivers, challenges persist. The high cost of beauty gadgets, coupled with consumer ignorance of their benefits and the availability of cheaper alternatives, could hinder market growth. Adverse reactions to certain devices further limit their adoption.

A notable trend is the increasing popularity of at-home beauty devices. Products like L'Oréal Brow Magic and Foreo's Peach offer convenient solutions for issues like hair removal, appealing to consumers seeking affordability and ease of use.

Segment-wise, hair removal devices dominate the market due to their efficacy and affordability. Technological advancements, such as lasers and IPL, enhance their safety and effectiveness, making them preferred alternatives to traditional methods.

The light/LED therapy and photo rejuvenation devices segment is expected to witness significant growth, driven by their versatility in treating various skin concerns, including pigmentation and wrinkles. Innovations like LightStim's LightElipsa cater to consumers' evolving needs.

In terms of applications, salons lead the market, offering professional-grade treatments enhanced by beauty devices. The expertise of salon professionals instills confidence in consumers, driving them to seek professional services.

However, the home segment is poised for rapid growth, fueled by the increasing affordability and convenience of at-home beauty devices. Partnerships like Foreo's collaboration with SK Hyundai Duty-Free department further promote the accessibility of home beauty treatments.

Portable devices, particularly pocket-sized/handheld ones, are gaining traction due to their convenience and accuracy. Consumers appreciate the ability to maintain skincare routines on the go, driving the popularity of devices like Tria Smooth Beauty.

In summary, the global beauty devices market is witnessing robust growth, fueled by rising demand for personalized solutions and convenient at-home treatments. Despite challenges like cost and consumer awareness, technological innovations and evolving consumer preferences are driving the market towards new heights.

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Beauty Devices Top Companies and Competitive Landscape

The global beauty devices market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective beauty devices in the market.

Some major players included in the global beauty devices market report are:
• Panasonic Corporation
• Lumenis Ltd.
• Nu Skin Enterprises Inc.
• TRIA Beauty Inc.
• Home Skinovations Ltd.
• Carol Cole Company Inc.
• L'Oreal SA
• Candela Corporation
• YA-MAN Ltd.
• MTG Co. Ltd.
• Koninklijke Philips N.V.
• LightStim
• Spectrum Brands Holdings Inc.
• Conair Corporation
• Project E Beauty
• Dennis Gross Skincare LLC
• Beauty Bioscience Inc.
• FOREO AB
• Cyden Limited
• Amorepacific Corporation

Beauty Devices Latest Industry News

• In March 2020, Panasonic Corporation introduced the EH-XR10 beauty device. The device purifies and eliminates pollutants from the skin using high-frequency vibration technology. This technology has a warming action that helps to enhance the absorption of skin care products by opening pores.

• In August 2020, Philips NV introduced the Philips Lumea IPL, a brand-new beauty device. This device eliminates hair and stops it from growing back by using powerful pulsed light technology. It states that using it on the face, arms, legs, and bikini area can be both safe and effective.

• In January 2021, Nu Skin Enterprises Inc. developed ageLOC Boost device, which combines micro currents waveforms & variable pulse technology resulting in dramatically brighter, plumper, as well as more bouncy skin.

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Beauty Devices Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global beauty devices market on the basis of type, application, portability, mode of operation, gender, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
o Cleansing Devices
o Hair Removal Devices
o Skin Dermal Rollers
o Acne Devices
o Light/Light Emitting Diode (LED) Therapy and Photo Rejuvenation Devices
o Oxygen and Steamer Devices
o Hair Growth Devices
o Cellulite Reduction Devices
o Others

• Application Outlook (Revenue, USD Billion; 2019-2032)
o Salons
o Spa
o Home
o Others

• Portability Outlook (Revenue, USD Billion; 2019-2032)
o Pocket-Sized/Handheld Device
o Fixed

• Mode of Operation Outlook (Revenue, USD Billion; 2019-2032)
o Electric and Battery Operated
o Manual

• Gender Outlook (Revenue, USD Billion; 2019-2032)
o Female
o Male

• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Commercial/Professional
o Domestic/Personalized/Homecare

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Russia
8. Rest of Europe
o Asia Pacific
1. China
2. Japan
3. South Korea
4. India
5. ASEAN Countries
6. Oceania
7. Rest of APAC
o Latin America
1. Brazil
2. Mexico
3. Rest of LATAM
o Middle East & Africa
1. GCC Countries
2. Israel
3. Turkey
4. South Africa
5. Rest of Middle East & Africa

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