|Status : Published||Published On : Feb, 2019||Report Code : VRHC1192||Industry : Healthcare||Available Format :||Page : 113|
The U.S. beauty devices market is expected to grow at a CAGR of 17.0% during the forecast period with its market size predicted to reach USD 31.1 billion by 2024. The U.S. Beauty Devices market is primarily driven by the technological advancements, increasing aging population, high awareness in the country regarding the available treatment options, high prevalence of skin disorders, development of hand-held devices. Hair removal devices, cleansing devices, acne devices and light/led therapy and photo rejuvenation devices are majorly contributing to the U.S. beauty devices market.
The key trend in the U.S. beauty devices industry is the development and adoption of at home beauty devices. From hair removal devices to light and led therapy devices, beauty devices has become common in U.S. households due to the technological advancements and miniaturization of large devices. These technologies are leading to the increased access of beauty care for consumers at home; therefore, leading to high traction in the market.
Insight by Type
On the basis type of devices, the market is categorized into 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 and others. of Among the various type of beauty devices, hair removal devices hold the largest share in the market the availability of a wide range of hair removal devices, such as trimmers, clippers, epilators, and shavers.
Insight by End-User
The primary end users of beauty devices in the U.S. are beauty clinics, spas and salons, and at home users. Among all end users, the spas and salons are estimated to account for the largest share of the U.S. beauty devices market size in 2018. The demand for beauty devices is anticipated to remain the largest in the spas and salons due to the increase in number salon and spa on a global level. Also, the demand is anticipated to be the highest at home users due to the technological advancements, high disposable income and high awareness of beauty treatments.
Different factors driving the U.S. beauty devices market are technological advancements, adoption of at-home LED therapy devices and acne treatment devices, the increasing prevalence of skin conditions, the increasing rate of hormonal imbalance cases and aging population. The U.S. has one of the highest per capita income around the world. In 2017, the GNI per capita income in the U.S. was USD 60,200 PPP. High per capita income of the U.S. population illustrates high purchasing power and affordability of technologically advanced devices. Moreover, the aging population in the country fuels the demand for beauty devices for skin care. In 2012, less than 20% of the U.S. population was over 60 years old. But by 2050, people over age 60 are expected to account for 25-29% of the U.S. population.
The high cost of devices, health risk associated with the use of these devices, and available cheaper alternative to the beauty devices are the key challenges faced by the beauty devices industry in the U.S.
Some of the key players operating in the U.S. beauty devices industry are Panasonic Corporation, L’Oreal SA, Photomedax Inc., Home Skinovations Ltd, The Proctor & Gamble Company, Koninklijke Philips N.V., Carol Cole Company, Lumenis Ltd., Syneron-Candela, and TRIA Beauty, Inc.
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