Insights into market segments
Based on type of device, the beauty devices market is categorized into hair removal, cleansing, acne, light/LED therapy and photorejuvenation, oxygen and steamer, hair growth, dermal rollers, cellulite reduction, and other devices. The market for hair removal devices is predicted to reach $25.0 billion by 2023. registering a CAGR of 20.0% during the forecast period. This is attributed to the occurrence of hormonal disorders leading to abnormal hair growth in the body and the availability of user friendly, compact, and innovative hair removal devices.
In terms of usage, the beauty devices market has been categorized into salon, spa, at-home, and others. During the forecast period, the market is expected to witness the highest growth in the at-home category, with a CAGR of 20.2%. The easy availability of these beauty devices across the globe and less expertise required for their use leads to their increased adoption is attributing to its growing popularity globally.
The European market is projected to witness the fastest growth
During the forecast period, the European beauty devices industry is expected to outpace the North American beauty devices industry, in terms of growth, on account of increasing healthcare spending, growing aging population, increasing prevalence of skin diseases, and technological advancements in beauty devices.
According to the European Commission publication in 2014, the population of people aged 65 years and above was approximately 93.2 million in 2013, and the number is estimated to reach 105.3 million by 2020. The aging population is driving the demand of beauty devices, as aging leads to skin dryness, which further leads to the formation of wrinkles. This happens due to the weakening of collagen, the protein that provides strength and elasticity to the skin. Certain beauty devices help in building collagen to reveal a younger looking skin; thereby leading to the growth of the market.
Competitive Landscape of the industry
L’Oréal Group offers its skin care devices under the brand Clarisonic; the company offers a range of products under this brand, such as Clarisonic Mia 1, Clarisonic Mia 2, and Clarisonic Mia 3. However, L’Oréal’s hair care device offerings are fewer in number as compared to its skin care devices. In terms of product offerings, Philips is the leading player in the market, offering products for hair removal, skincare, and hair care. Philips offers both skin care and hair care devices, such as hair dryers, pro straighteners, IPL hair removal devices, and epilators for hassle-free hair removal.
Lumenis Ltd. offers a diverse range of devices for aesthetic treatments, which include ablative-skin-resurfacing, acne-scars-treatment, blepharoplasty, laser hair removal, pigmentation, rosacea, scar revision, skin-toning, tattoo removal, vascular leg vein, non-ablative skin resurfacing, and photorejuvenation. Some of its products are LightSheer DESIRE, a new generation of laser hair reduction system, ResurFX, LightSheer INFINITY, M22, and LightSheer Duet.
Some of the other key players operating in the beauty devices market are Panasonic Corporation, Lumenis Ltd, Home Skinovations Ltd, the Procter & Gamble Company, Syneron Medical Ltd, iluminage Beauty Inc., Koninklijke Philips N.V., and Carol Cole Company.
Beauty Devices Market Segmentation
Market Segmentation by Type of Device
Light/LED Therapy and Photorejuvenation
Oxygen and Steamer
Market Segmentation by Usage
Market Segmentation by Geography
North America beauty devices market
By type of device
By country - U.S. and Canada
Europe beauty devices market
By type of device
By country - Germany, France, U.K., Italy, Spain, Benelux, Russia, Switzerland, Turkey, Poland, Czech Republic, Hungary, Slovakia, and Rest of Europe
Asia-Pacific (APAC) beauty devices market
By type of device
By country - China, Japan, India, Australia, South Korea, New Zealand, Taiwan, Singapore, Vietnam, Malaysia, Thailand, Sri Lanka, and Rest of APAC
Latin America (LATAM) beauty devices market
By type of device
By country - Brazil, Mexico, Argentina, Chile, and Rest of LATAM
Middle East and Africa (MEA ) beauty devices market
By type of device
By country - Saudi Arabia, U.A.E., South Africa, Israel, Oman, Kuwait, Qatar, Bahrain, and Rest of MEA
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation By Type Of Device
1.3.2 Market Segmentation By Usage
1.3.3 Market Segmentation By Geography
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown Of Primary Research Respondents
188.8.131.52 By Region
184.108.40.206 By Industry Participant
220.127.116.11 By Company Type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions For The Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition Of Market Segments
4.1.1 By Type Of Device
18.104.22.168 Hair Removal
22.214.171.124 Light/Led Therapy And Photorejuvenation
126.96.36.199 Oxygen And Steamer
188.8.131.52 Hair Growth
184.108.40.206 Dermal Rollers
220.127.116.11 Cellulite Reduction
4.1.2 By Usage
4.2 Market Dynamics
18.104.22.168 Introduction Of New Products
22.214.171.124 Increasing Utilization Of Electronic Beauty Devices
126.96.36.199 Increasing Inclination Of Consumers Towards Easy To Use At-Home Beauty Devices
188.8.131.52 Surge In Geriatric Population
184.108.40.206 Increasing Prevalence Of Skin Diseases
220.127.116.11 Rising Disposable Income
18.104.22.168 Growing Prevalence Of Hormonal Disorders
22.214.171.124 Increasing Appearance Consciousness And Awareness About Beauty Devices
126.96.36.199 Impact Analysis Of Drivers On Market Forecast
188.8.131.52 Risks Associated With The Use Of Beauty Devices
184.108.40.206 Availability Of Traditional And Cheaper Beauty Products
220.127.116.11 High Cost Of Beauty Devices
18.104.22.168 Impact Analysis Of Restraints On Market Forecast
4.3 Porter’S Five Forces Analysis
4.3.1 Bargaining Power Of Buyers
4.3.2 Bargaining Power Of Suppliers
4.3.3 Intensity Of Rivalry
4.3.4 Threat Of New Entrants
4.3.5 Threat Of Substitutes
Chapter 5. Global Market Size And Forecast
5.1 By Type Of Device
5.2 By Usage
5.3 By Region
Chapter 6. North America Market Size And Forecast
6.1 By Type Of Device
6.2 By Usage
6.3 By Country
Chapter 7. Europe Market Size And Forecast
7.1 By Type Of Device
7.2 By Usage
7.3 By Country
Chapter 8. APAC Market Size And Forecast
8.1 By Type Of Device
8.2 By Usage
8.3 By Country
Chapter 9. LATAM Market Size And Forecast
9.1 By Type Of Device
9.2 By Usage
9.3 By Country
Chapter 10. MEA Market Size And Forecast
10.1 By Type Of Device
10.2 By Usage
10.3 By Country
Chapter 11. Competitive Landscape
11.1 Product Benchmarking Of Key Players
11.2 Global Strategic Developments Of Key Players
11.2.1 Mergers And Acquisitions
11.2.2 Product Launches
11.2.3 Other Developments
Chapter 12. Company Profiles
12.1 Panasonic Corporation
12.1.1 Business Overview
12.1.2 Product And Service Offerings
12.1.3 Strategic Growth Plans
12.2 Lumenis Ltd.
12.2.1 Business Overview
12.2.2 Product And Service Offerings
12.3 Nu Skin Enterprises Inc.
12.3.1 Business Overview
12.3.2 Product And Service Offerings
12.3.3 Key Financial Summary
12.3.4 Strategic Growth Plans
12.4 Tria Beauty Inc.
12.4.1 Business Overview
12.4.2 Product And Service Offerings
12.5 Home Skinovations Ltd.
12.5.1 Business Overview
12.5.2 Product And Service Offerings
12.6 The Procter & Gamble Company
12.6.1 Business Overview
12.6.2 Product And Service Offerings
12.6.3 Key Financial Summary
12.6.4 Strategic Growth Plans
12.7 Koninklijke Philips N.V.
12.7.1 Business Overview
12.7.2 Product And Service Offerings
12.7.3 Key Financial Summary
12.7.4 Strategic Growth Plans
12.8 Ya-Man Ltd.
12.8.1 Business Overview
12.8.2 Product And Service Offerings
12.9 Mtg Co. Ltd.
12.9.1 Business Overview
12.9.2 Product And Service Offerings
12.9.3 Strategic Growth Plans
12.10 Carol Cole Company
12.10.1 Business Overview
12.10.2 Product And Service Offerings
12.11 L’Oréal Sa
12.11.1 Business Overview
12.11.2 Product And Service Offerings
12.11.3 Key Financial Summary
12.11.4 Strategic Growth Plans
12.12 Syneron Medical Ltd.
12.12.1 Business Overview
12.12.2 Product And Service Offerings
12.12.3 Key Financial Summary
12.12.4 Strategic Growth Plans
Chapter 13. Appendix
13.2 Sources And References
13.3 Related Reports
- Panasonic Corporation
- Lumenis Ltd.
- Nu Skin Enterprises Inc.
- TRIA Beauty Inc.
- Home Skinovations Ltd.
- The Procter & Gamble Company
- Koninklijke Philips N.V.
- YA-MAN LTD.
- MTG Co. Ltd.
- Carol Cole Company
- L’Oréal SA
- Syneron Medical Ltd.