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Dec 12, 2020 (AB Digital via COMTEX) — Beauty Devices Market Overview
A 7.8% CAGR is estimated to enhance the beauty devices market expansion potential by 2023. The surge in age-related issues such as dryness and aging are estimated to bolster the demand for advanced beauty devices. The medical device industry reports are formed by Market Research Future, emphasizing market opportunities for growth.
The objective of correcting skin flaws by tightening and revitalizing the skin by using beauty care products and beauty treatments is estimated to augment the beauty devices market share in the upcoming period. Furthermore, the lockdown of beauty services centers such as salons and spas has led individuals to rely even more on home beauty regimen, which is estimated to bolster the beauty devices market companies.
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Beauty devises Market Segmental Analysis
The segments analyzed in the beauty devices market are created on the basis of type, application, region, and end-user. On the basis of type, the beauty devices market is segmented into skincare, oral care, hair care, and others. Based on the regions, the beauty devices market is segmented into the Americas, Europe, Asia Pacific, Africa, and the Middle East. The application-based segment of the beauty devices market comprises of commercial purpose and others. Furthermore, the commercial purpose sub-segment is segmented into hospitals, clinics, salons, spas, and others. The end-user segment of the beauty devices market consists of professional and personalized.
Beauty Devices Market Regional Analysis
The regions studied to gain a clear knowledge of the beauty devices market are the Americas, Europe, Asia Pacific, Africa, and the Middle East. The Americas region has a well-developed technology application, intensifying patient base with PCOS, expanding aging population, and collective government backing for research & development. This has led to the control of the global market region. Besides, the amplified R&D activities and the application of key companies have powered the development of the region’s beauty devices market. The Latin American regional market is also estimated to play a significant role in market expansion. The European beauty devices market holds the subsequent spot in the global market that is motivated by the government backing in the region for research & development and accessibility to funds for research. The Asia Pacific beauty devices market is the swiftest developing region because of rapidly emerging healthcare technology, vast patient base, and elevated healthcare spending. Additionally, amplifying demand for novel treatment approaches in national markets similar to India is anticipated to develop in the forecast period.
Beauty Devices Market Competitive Analysis
The sentiment of hypervigilance in the pandemic’s wake is estimated to direct decisions for operation in the market through the forecast period. The market is anticipated to see an improvement in growth cues in the near future. The regained market potential is estimated to aid in the expansion of the global market. The decisive policies being created by government bodies around the world are assessed to play a vital role in the advancement of the market on a global scale. The restructuring of the market’s core operations is predicted to impact the market in the approaching period.
The surge in innovative products in the global supply chain is anticipated to open up novel possibilities in the forecast period. The stabilization of output in the market is estimated to be varied. Each manufacturer is estimated to make decisions on a microeconomic level to ensure long-term business growth and continuity in the forecast period. The drastic changes in the global financial intermediation structure due to the COVID-19 pandemic are assessed to change how businesses secure financing in the coming period.
The renowned companies in the beauty devices market are Nu Skin Enterprises, Syneron Medical Ltd, Home Skinovations Ltd, TRIA Beauty Inc, L’Oreal S.A., Procter & Gamble Co, Panasonic Corporation, PhotoMedex Inc, Tria Beauty Inc.
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