The market is mainly driven by the rising incidence of skin diseases,
surging disposable income, escalating geriatric population, increasing
appearance consciousness and awareness about beauty devices, and growing
hormonal disorders, according to P&S Market Research.
In terms of usage, the beauty devices market has been categorized into
salon, spa, at-home, and others. During the forecast period, the market is
expected to witness the highest growth in the at-home category, with a CAGR of
20.2%. The easy availability of these beauty devices across the globe and less
expertise required for their use leads to their increased adoption is
attributing to its growing popularity globally.
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During the forecast period, the European beauty devices industry is
expected to outpace the North American beauty devices industry, in terms of
growth, on account of increasing healthcare spending, growing aging population,
increasing prevalence of skin diseases, and technological advancements in
According to the European Commission publication in 2014, the
population of people aged 65 years and above was approximately 93.2 million in
2013, and the number is estimated to reach 105.3 million by 2020. The aging population
is driving the demand of beauty devices, as aging leads to skin dryness, which
further leads to the formation of wrinkles. This happens due to the weakening
of collagen, the protein that provides strength and elasticity to the skin.
Certain beauty devices help in building collagen to reveal a younger looking
skin; thereby leading to the growth of the market.
Some of the other key players operating in the beauty devices market are Panasonic
Corporation, Lumenis Ltd, Home Skinovations Ltd, the Procter & Gamble
Company, Syneron Medical Ltd, iluminage Beauty Inc., Koninklijke Philips N.V.,
and Carol Cole Company.