The U.S. beauty devices market was valued at $9,214.0 million in 2014, and it is expected to grow with a CAGR of 19.0% during the period 2015 – 2020. The U.S. market is growing, due to the growth of the geriatric population and increasing prevalence of skin diseases, such as acne, psoriasis in the Americans. In addition, the increase in disposable income leads to increased spends on personal care, thus boosting the growth of the US beauty devices market.
Among the types of beauty devices, the Light/LED Therapy and Photorejuvenation devices segment is expected to witness the fastest growth during the forecast period. Among the various applications, the salon segment had the largest market size in the U.S. in 2014; however the At Home segment is expected to witness the fastest growth, during the period 2015 – 2020.
The aging population acts as a major driver for the U.S. beauty devices market, as old age is associated with loss of fibrous tissue and a reduced vascular and glandular network in the layers of skin. In the elderly population, the appearance and characteristics of the skin gets altered, thus leading to wrinkles, dryness, pigmentary alteration, and sagging of the skin. In addition, anti-aging products and devices help in reducing skin aging, giving a person a younger look by revitalizing and tightening the skin, which is fuelling the demand for beauty devices.
However, the side effects associated with the usage of these devices such as superficial burns, scarring, edema, postoperative erythema, and ecchymosis; and the risks associated with photorejuvenation devices including discomfort, excessive swelling, fragile skin, bruising, and blistering, acts as major restraints for the growth of the U.S. beauty devices market.
The key companies operating in the U.S. beauty devices market include L’Oréal Group, Nu Skin Enterprises Inc., Panasonic Corporation, Home Skinovations Ltd., PhotoMedex Inc., Carol Cole Company, Procter & Gamble Company, Syneron Medical Ltd., TRIA Beauty Inc., and Koninklijke Philips N.V.
News Courtesy: P&S Market Research