NEW YORK, Nov. 15, 2017 (GLOBE NEWSWIRE) -- The global beauty device market is expected to witness a CAGR of 17.8%, and is projected to reach USD 89.5 billion by 2023. The growth is attributed to demographic changes, changing lifestyles, and rise in disposable income. Technological advances, resulting in production of convenient and affordable beauty devices along with the launches of mini devices has also provided impetus to the market growth. Moreover, growing awareness among consumers about beauty treatments and devices available in the market is also a key component of the market growth.
The report segments Beauty Device Market by Type (Hair removal devices, Cellulite reduction devices, Cleansing devices, Photo rejuvenation devices, Acne elimination devices, Dermabrasion devices, Others), End User (Salon, Spa, At Home, Others), and Region (North America, Europe, Asia-Pacific, South America, Rest of The World(RoW)). The report studies the global Adhesion Barrier Market over the forecast period (2017-2023).
Browse full research report with TOC on “Global Beauty Devices Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023” at: http://energiasmarketresearch.com/global-beauty-devices-market-outlook/
Key findings from the report:
- The global beauty device market is expected to reach USD 89.5 billion by 2023
- The hair removal type segment holds the largest share of the global beauty device market and is expected to hold its dominance during 2017-2023
- The salon was the largest end user of the beauty devices market in 2016. The at home segment is expected to show highest CAGR during the forecast period
- North America holds the largest share of the global beauty device market and is projected to continue its dominance over the forecast period
- The Asia-Pacific region holds second largest share of the global market and is expected to witness highest CAGR during 2017-2023
- Some of the key companies operating in the beauty device market include L’Oréal Group, Procter & Gamble, Nu Skin Enterprises, Carol Cole Company, Home Skinovations Ltd, TRIA beauty, inc., Panasonic Corporation, Koninklijke Philips N.V, Syneron Medica, PhotoMedex,Inc., among others
Beauty Devices Market- experiencing high global demand
Beauty devices are springing up in beauty salons and homes across the globe. These devices promise a performance that exceeds those of cosmetic formulas. Growing geriatric population and changing lifestyle are primary drivers for the global demand of beauty devices. With a large aging population worldwide, which is more susceptible to skin disease and disorders, skin care and proper treatment has become important. Products and beauty devices for anti-ageing help in giving a younger look and revitalizing the skin. Further, a large population is also affected by pollution and ultraviolet radiation, which is a major cause of hair and skin problems, leading to demand for beauty devices.
Beauty Devices Market - Regional insight
North America is expected to lead the global beauty devices market and is expected to continue its dominance during 2017-2023, owing to growing geriatric population coupled with technological advancements. Asia-Pacific is projected to indicate high growth rate during the forecast period in the global beauty devices market. China and Indian beauty devices markets are expected to grow significantly, mainly driven by rising disposable income and industry players coming out with products and pricing suitable to consumers across different levels of purchasing power.
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