The beauty devices market is expected to witness substantial growth over the forecast period, which can be attributed to enhanced standard of living of people, particularly in developing economies.
Growing occurrence of skin diseases, increase in the aging population, and harmful effects of ultraviolet radiation, are some of the key factors driving the beauty devices market. Stringent government regulations and the complications such as occurrence of contact dermatitis and superficial fungal & bacterial infections pertaining to excessive use of beauty devices are expected to inhibit the growth of the beauty devices market. Furthermore, availability of easy-to-use beauty products along with the complications and risks associated with the beauty devices are also expected to hamper the market growth.
The demand in the Asia Pacific region has significantly increased with the advent of less expensive beauty devices, availability of multinational brands, and increased standard of living. Furthermore, in Europe the demand is increasing with the rise in the aging population.
Beauty devices market can be segmented on the basis of product and usage area. Products can be further categorized as rejuvenation devices, acne devices, light/LED therapy & photo rejuvenation devices, skin derma rollers, hair growth devices, cellulite reduction devices, oxygen & steamer devices, and hair removal devices. Usage area can be segregated into spa, at-home and salon.
Leading players have emphasized on products for enhancing hair growth. For instance, in January 2015, Capillus, LLC, a medical device manufacturer in Miami, launched Capillus272 for promoting hair re-growth in the adults suffering from androgenic alopecia. Key market players include Nu Skin Enterprises Inc., TRIA Beauty Inc., Koninklijke Philips N.V., Carol Cole Company, L’Oreal group, Procter & Gamble, Home Skinovations Ltd., and Photomedex Inc.
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