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Beauty Devices Market North America is Expected to be the Fastest Growing Region During 2017 – 2023
Access Report Overview :
As per the findings of research, hair removal devices held the largest share in the global beauty devices market in 2016, primarily due to increasing prevalence of PCOS and other hormonal problems among females. The light/LED therapy and photorejuvenation devices (LT&P) market is expected to witness fastest growth during the forecast period. The higher growth for LT&P is attributed to the increasing awareness about advanced features offered by light/LED therapy and photorejuvenation devices for treating wrinkles, blemishes and sagged skin.
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Geographically, North America has been the largest market for beauty devices, with the U.S. being the major contributor to the regional market as compared to Canada. The key factor driving the North American beauty device market include increasing aging population and rising prevalence of skin related problems in the region. According to the American Academy of Dermatology, approximately 85% of the population in the U.S. suffers from acne every year. There is a large population of the patients suffering from acne scars in the country.
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Key players in the beauty devices market are collaborating to offer better advanced beauty devices. In January 2017, L'Oréal signed an agreement with Valeant pharmaceuticals to acquire its the skincare brands including CeraVe, AcneFree and Ambi for a consideration of $1.3 billion in cash. The acquisition is aimed to expand L’Oreal’s Active cosmetics division.
Some of the other key players in the market include L’Oreal SA, Panasonic Corporation, Home Skinovations Ltd and Photomedax Inc., Carol Cole Company, Lumenis Ltd., The Proctor & Gamble Company, Syneron Medical, TRIA Beauty, Inc., and Koninklijke Philips N.V.
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