U.S. Beauty Devices Market
U.S. Market Study on Beauty Devices: Demand for Hair Removal Devices to Remain High Over the Decade
Us Beauty Devices Market Segmented By Intense Pulsed Light Devices, Hair Growth Devices, Hair Removal Devices, Derma Rollers, Cellulite Reducer and Cleansing
The U.S. beauty devices industry survey predicts the market to attain a value of US$ 14 Bn by the end of 2021. This analysis also expects the market to expand at a CAGR of close to 18% over the next 10 years and reach a valuation of US$ 68 Bn. Top manufacturers of beauty devices account for nearly 50% of the market share in the U.S.
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- L’Oréal Group.
- Nu Skin Enterprises, Inc.
- Home Skinovations Ltd.
- PhotoMedex, Inc.
- TRIA Beauty, Inc.
- Koninklijke Philips N.V.
- Syneron Medical, Ltd.
- Cynosure, Inc.
- Procter & Gamble Company.
Key Points Covered in U.S. Beauty Devices Industry Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 Impact on beauty devices and how to navigate
- Recommendation on key winning strategies
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New Trends in Beauty Devices Space
Beauty and skincare have gained substantial popularity all over the globe, with demand for beauty devices and products in the U.S. skyrocketing, and the market has been extremely lucrative in terms of sales as well as revenue.
This growth is owed to rising beauty trends made popular by influencers and celebrities. The beauty industry has seen a major shift in recent times, and now, demand is led by devices that are consumer friendly and easy to use at home. This demand has been created by the pandemic as people are unable to visit salons for their beauty needs. Sales of at-home devices are expected to gain a good amount of traction in the near future.
- Nu Skin, a leading name in innovative beauty and wellness products, has won three notable awards in the past few months for its clean skincare line. The brand is also dedicated to creating sustainable products that will be aimed at bringing the best of science and nature to minimize the impact on the environment.
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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. This forecast on the U.S. beauty devices market share indicates that it will attain a market value of close toUS$ 68 Bnby the end of 2031,expanding at a stellar CAGR of 17%.
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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 U.S. beauty devices industry 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 was slated to attain US$ 5 Bn in terms of value, while registering a CAGR of 20.1% from 2014. The hair removal devices segment is expected to lead market growth through 2031, owing to increasing prevalence of hormonal problems and polycystic ovary syndrome (PCOS) among women.
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.
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.