Beauty Devices Market Analysis, Size, Development and Forecast to 2022

The global beauty devices market was valued at $23,403.9 million in 2015, and it is expected to grow with a CAGR of 19.0% during the period 2016 - 2022. The market is growing, due to the growth of the geriatric population and increasing prevalence of skin diseases, such as acne and psoriasis. In addition, the increase in disposable income is leading to increase in spending on personal care, thus boosting the growth of the global beauty devices market.

Among the various types of beauty devices, the Light/LED therapy and photorejuvenation devices is expected to witness the fastest growth during the forecast period. Based on applications of beauty devices, the salon segment had the largest market size in 2015; however, the at home segment is expected to witness the fastest growth during the forecast period.

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The growth of hair and skin problems as a result of pollution and exposure to U.V. radiation leads to photo aging of skin, sunburns, less collagen built up, reduction of skin elasticity, and also hair loss. Skin diseases are also caused by other factors, such as environmental pollution, excessive alcohol consumption, and tobacco use. Cases with skin diseases are also increasing due to infections caused by viruses, bacteria, and fungi.

The aging population acts as a major driver for the global beauty devices market, as old age is associated with loss of fibrous tissue and a reduced vascular and glandular network in the layers of skin. In the elderly population, the appearance and characteristics of the skin gets altered, thus leading to wrinkles, dryness, pigmentary alteration, and sagging of the skin. The anti-aging products and devices help in reducing skin aging, giving a person a younger look by revitalizing and tightening the skin; hence, fuelling the demand for beauty devices globally.

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However, the side effects associated with the usage of these devices, such as superficial burns, scarring, edema, postoperative erythema, and ecchymosis; and the risks associated with photorejuvenation devices including discomfort, excessive swelling, fragile skin, bruising, and blistering, acts as major restraints for the growth of the beauty devices market.

Some of the key companies operating in the beauty devices market include L'Oréal Group, Nu Skin Enterprises Inc., Panasonic Corporation, Home Skinovations Ltd., PhotoMedex Inc., Carol Cole Company, Procter & Gamble Company, Syneron Medical Ltd., TRIA Beauty Inc., and Koninklijke Philips N.V.