Market Study of Beauty Devices in the US: Hair Removal Devices to Gain Dominance, Expanding at CAGR of 20.1% During 2014-2020
New York, NY -- (SBWIRE) -- 09/15/2017 -- Skincare continues to be a top priority for consumers in the US. Media and entertainment businesses in the US are active proponents of using beauty devices to enhance the superficial presence of celebrities and other concerned personnel. High-profile endorsements and relatively instantaneous results are promoting the presence of beauty devices in America households. A forecast on the US beauty devices market indicates that it will attain the market value of US$ 25,375.7 million by 2020, expanding from US$ 9,034.2 million in 2014 at an impressive CAGR of 18.8%.
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Key Market Dynamics
A considerable rise in the geriatric population in the US has stimulated the growth of its beauty devices market. The risks of obesity and implications caused due to cellulite accumulation have also urged consumers towards using special cosmetic and beauty devices. Prevalence of skin diseases, and growing use of beauty devices to augment the superficial impression in the US media & entertainment industry is expected to drive the growth of US beauty devices market. Nonetheless, the occurrences of unwanted skin damage and additional dermal implications from the extensive use of such devices have inhibited the demand in the US beauty devices market. Lack of insurance or other monetary reimbursements for healthcare procedures involving beauty devices, and increasing prominence of alternative beauty products, is also impacting the growth of US beauty devices market. Popular trends of restricting body shaming practices have been influencing the progress of beauty devices market in the US.
The beauty devices market in the US is segmented into types of devices and their usage areas. In terms of area of usage for such devices, the market is classified into the spa, salon, at home and others. At-homes segment is expected to account for the fastest-growing usage area segment, while salons are anticipated to increase adoption of hair removal devices. The US beauty devices market is also categorized on the basis of types of devices such as intense pulsed light devices, hair growth devices, hair removal devices, derma rollers, cellulite reducer, and cleansing, among others. By the end of 2020, the hair removal devices segment is slated to attain US$ 5,086.0 million in terms of value, registering a CAGR of 20.1% from 2014. On the other hand, intense-pulsed light devices are projected to be the fastest-growing device type segment in the US beauty devices market.
In the global market for beauty devices, North America is slated to be the dominant region. The dominance of North America is majorly influenced by the US beauty devices market. The regional expanse of the US includes various types of environment and consumers in specific states continue to be exposed towards practices that need beauty devices.
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Key Market Players
Manufacturers of beauty devices are developing innovative skincare solutions to gain prominence over beauty products companies. Influencing the consumer preferences has necessitated manufacturers towards producing high-quality, harmless, and reliable beauty device products. Some key players recognized in the US beauty devices market include, Nu Skin Enterprises, Inc., Koninklijke Philips N.V., Cynosure, Inc., TRIA Beauty, Inc., L'Oréal Group, PhotoMedex, Inc., Syneron Medical, Ltd., Home Skinovations Ltd., and Procter & Gamble Company, among others.