Beauty devices are instruments or apparatus used for cosmetic purposes for the physical enhancement of its customers. The global beauty devices market was valued at USD 33.2 billion in 2017. Several devices such as cellulite reduction devices, hair removal devices, acne devices, cleansing devices, light/led therapy and photo rejuvenation devices, hair growth devices, oxygen and steamer devices, skin dermal rollers, contributes to the beauty devices market size. The significant growth in the beauty devices industry is imputed to the rise in prevalence of skin disorders, increasing rate of hormonal imbalance cases, increase in the geriatric population, and growing awareness for beauty devices.
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The market observes entry of local industry players, especially in developing economies of Asia-Pacific, creating threat of new entrants in the global beauty devices market. The new players are leveraging market growth through launching innovative and advanced devices at low cost, which leads to material injury to existing market players.
Geographically, North America is the largest beauty devices market, globally. This contribution is due to the demographic drift towards increasing ageing population, and awareness to the available treatment options. The North American market is also driven by the surge in prevalence of skin conditions, such as acne, psoriasis, and rosacea. According to the American Academy of Dermatology, acne is the most common skin condition, affecting up to 50 million Americans annually.
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Market players in the beauty devices industry are enhancing their market share through collaborations, focusing on the development of products with advance features. The global beauty devices market include large share of contribution from companies that include Panasonic Corporation, L’Oreal SA, Photomedax Inc., Home Skinovations Ltd, The Proctor & Gamble Company, Koninklijke Philips N.V., Carol Cole Company, Lumenis Ltd., Syneron Medical, and TRIA Beauty, Inc.
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