Global Beauty Device Market
The global beauty device market is projected to grow at a high CAGR over the next five years.
The growth in this region is attributed to the fast economic development of China and India.
North America is also expected to grow at a high rate owing to increasing consumer awareness
about these products. In addition face lifting machine, the U.K. is expected to have a more than 30 percent share of
the overall market in 2021. In addition, it is expected to expand at the highest CAGR over the
forecast period.
According to the latest market research, the US beauty devices market will reach a value of US$
14 billion by 2021. The growth in this market will be at an average of 18 percent over the next
decade, and the leading players are Panasonic Corporation, PhotoMedex Inc., Syneron Medical
Ltd., and Home Skinovations Ltd., which are all focusing on innovative skincare solutions. With
their innovative skincare solutions, beauty device manufacturers are gaining ground against the
existing beauty product companies and have to produce reliable and high-quality products.
Hair removal devices are projected to reach US$ 5 billion by 2020 and lead market growth
through 2031. With the rising prevalence of polycystic ovary syndrome and hormonal problems
in women, hair removal devices are a popular solution. Intensified-pulsed light devices are
expected to be the fastest-growing device type in the US beauty devices market by 2031.
Meanwhile, North America is anticipated to remain the dominant region in the global beauty
device market, with the US leading the way.
The global beauty device market is segmented by Geography and Application. Asia-Pacific is
projected to be the fastest-growing region, with a US$ 80 billion market. This growth rate will
reflect the growing popularity of personalized skincare and advanced devices. Further, the US is
predicted to remain the most important region for the beauty device industry, with the US leading
the global market by 2024. The US is estimated to be the dominant region in the global beauty
device market.
The growth in the beauty device market is driven by the increasing popularity of smarter and
more sophisticated formulations. In addition, consumers are also demanding customized
skincare products that help solve their specific problems. In fact, the global beauty device
market is expected to hit US$ 80 billion by 2024, with a CAGR of 15% over the forecast period.
The devices will not only provide effective skincare solutions to users, but will also provide a
private at-home experience for customers.
Hair removal devices are expected to have the largest market share in the global beauty device
market. The devices will be able to remove facial hair with ease, and the market is predicted to
grow at a CAGR of 17% over the next decade. The growth in this segment is expected to be
driven by an increasing number of consumers who are concerned about their appearance. The
growth in this sector is due to the prevalence of PCOS and hormonal imbalances.
