U.S. Beauty Devices Market Overview
The U.S. beauty devices market generated $11.9 billion revenue in 2017 and is projected to witness a CAGR of 18.3% during 2018–2023. Increasing geriatric population, growing prevalence of skin diseases, and rising disposable income leading to increase in personal care spending on beauty devices are the factors driving the growth of the market in the U.S.
U.S. BEAUTY DEVICES MARKET, BY USAGE, $M (2013–2023)
The beauty devices market in the U.S. has been categorized into hair removal, cleansing, acne, light/LED therapy and photorejuvenation, oxygen and steamer, hair growth, dermal rollers, cellulite reduction, and other devices, on the basis of type of devices. The market for light/LED therapy and photorejuvenation beauty devices is projected to register a CAGR of 19.1% during the forecast period.
Based on usage, the beauty devices industry in the U.S. has been categorised into salon, spa, at-home and others. Beauty devices used in salons held the largest share in this market, with 54.0% contribution in 2017. Manicures and pedicures, scalp and facial treatments, make-up analysis and application, massage, hair weaving and replacement, and wig cleaning and styling are some of the services provided by salons. Many salons also provide variety of services for both men and women, whereas some of them are specialized hair-only salons. Beauty devices are used in salons extensively to provide various services.
U.S. Beauty Devices Market Dynamics
The introduction of new and innovative beauty products in the U.S. is a trend observed in this market. The beauty device manufacturing companies are developing new and innovative products, in response to the increasing industry demand for advanced skin care and hair care solutions. These innovations are expected to propel the growth of the beauty devices market. For instance, in January 2018, Carol Cole Company Inc. launched NuBODY, the first-ever USFDA-cleared microcurrent beauty device for the body. NuBODY is specially engineered to deliver a flow of targeted microcurrent to the larger and denser areas of the body.
Rising aging population, increasing prevalence of skin diseases and hair loss, and rising healthcare expenditure are the factors driving the growth of the beauty devices market in the U.S. The awareness about personal care is increasing in the U.S., which in turn is leading to increase in the spending on various personal care products and devices, such as beauty devices in the country. In addition, the increasing appearance consciousness among consumers, due to exposure to media is also driving the demand for beauty devices.
Skin diseases are also caused by various other factors, such as excessive alcohol consumption, environmental pollution, ultraviolet radiation, and tobacco use. The incidence of skin diseases is also increasing, due to infections caused by viruses, bacteria, and fungi.
Acne, psoriasis, and atopic dermatitis are some common skin diseases. Acne is the most common dermatological condition that is caused by clogging of hair follicles by sebum, dirt, and dead skin cells. According to the American Academy of Dermatology (AAD), approximately 85% Americans suffer from acne at some phase in their lives. In order to treat skin diseases and overcome the harmful effects of ultraviolet radiation, beauty devices are used.
U.S. Beauty Devices Market Competitive Landscape
Continuous demand for new and innovative beauty devices has led to the introduction of several devices by the players in the beauty devices market of the U.S. For instance, in January 2018, Nu Skin Enterprises Inc. announced the consumer launch of ageLOC LumiSpa, the first-of-its-kind, dual-action skin care device that treats and cleanses the skin.
Some of the other major players in the beauty devices industry in the U.S. are Panasonic Corporation, Lumenis Ltd., Home Skinovations Ltd, The Procter & Gamble Company, L'Oréal SA, Syneron Medical Ltd, iluminage Beauty Inc., Koninklijke Philips N.V., and Carol Cole Company.