With increasing popularity of beauty treatments and rapid development in technology, it’s clear that we are living in the gadget generation. In recent years, beauty related technologies such as, wrinkle eraser and temporary tightener have made a leap from clinics or salons to homes. Rise in prevalence of skin and hair problems, increasing popularity of beauty treatment services, rise in geriatric population and growth of healthcare expenditure are promoting growth of beauty devices market. The study points out that this market in China and India are particularly growing fast due to increasing disposable incomes and high population size. Despite the growing demand of beauty devices, a number of legitimate issues are also associated with market of the same. Consumers are more concerned about side effects associated with usage of these devices and availability of alternative cheap products.
It is estimated that Asia Pacific beauty devices market size is expected to grow at a CAGR 8.2% during the forecast period.
Segmentation
The Asia Pacific beauty devices market is classified on the basis of product type, application, and end user.
Based on product type, market is segregated into hair care, skin care, oral care, and others. Sub-segmentation of hair care product includes hair removal devices, hair styling devices, hair growth devices, and others. Skin care tools is further segmented into light/LED and photorejuvenation therapy devices, acne removal devices, cellulite reduction devices, and others.
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On the basis of application type, market is classified into domestic purpose, commercial purpose, and others.
On the basis of end user, market is segmented into professional and personalized.
Regional analysis
Geographically, Asia Pacific’s beauty devices market is classified into China, Japan, India, and rest of Asia Pacific. Owing to the rise in skin related problems and increasing geriatric population, China accounts for the largest market share in the Asia Pacific region. The economic and social changes in beauty devices market are most prominent in countries such as, China, Japan, India and Korea in this region. The study points out that the beauty devices market in China and India are particularly growing fast due to increasing disposable incomes and high population size.
Although Korea is considered as the hub of innovations; in the beauty devices market China and Japan has taken the lead.
Key Players
Some of the key player in the market are L’Oréal Group (France), Nu Skin Enterprises Inc,(US), Panasonic Corporation (Japan), Syneron Medical Ltd. (US), Home Skinovations Ltd.(Israel), TRIA Beauty Inc.(US), Procter Gamble(US), and others.
With the developing trends in beauty devices market, it is observed, with the entry of new marketers that competition between the companies has increased and it is expected to a have direct impact on product prices. Existing bigger marketers are expanding their offerings beyond professional beauty devices to personalized beauty care devices and new companies are entering the market with clear focus on home-use beauty care devices.
Home Skinovations is a home-use aesthetic devices manufacturer, which was founded in Israel in 2006. The Korean branch of Home Skinovations has seen a tremendous sales growth in the last few years.
According to the latest research, it is seen that Korea has higher sales growth of personalized beauty devices.
TRIA Beauty Inc., a USA based company has introduced multiple FDA-cleared devices in the market. Laser 4X is one of the most popular FDA-cleared products of the company.
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