Compared to other emerging economies, the US has a relatively mature beauty devices market driven by the availability of advanced technologies. However, the market still has an immense scope for growth given the surging demand for personal care products and focus on innovation on the part of manufacturers and distributors.
Newer Products and Target Audiences Key for Expansion of Beauty Devices Market
Over the past few years, competitors within the beauty devices market have been focusing on creative products and unique approaches to gain an edge over others. Apart from new and improved cleansing devices, microdermabrasion, and anti-aging solutions, companies are also branching out to wider markets and newer target audiences. Lower-priced alternatives and an entire line of products dedicated to the beauty devices for men have brought about a massive improvement in the US market.
The US beauty devices market, as explained by several research analysts, has a number of factors to take into consideration as far as present and future growth is concerned. Distribution tactics in the US market are vital with marketers developing tech-savvy, omni-channel plans. While anti-aging devices are on the rise, manufacturers are focusing on devices that offer all-in-one benefits such as beauty, elegance, and functionality. Keeping in mind the fact that lower price point segments present greater opportunities, success of beauty devices also depends on buzz created by social media. Consumers in the US are immensely focused on social media and as a result, companies have been targeting key segments with the help of platforms such as Instagram, Facebook, and Twitter.
US Beauty Devices Market to Register Double-Digit Growth
Globally, North America dominates the beauty devices industry and the US is a key market that has been witnessing growing demand. The North America beauty devices market is primarily driven by the availability of technologically-advanced devices and a wide base of aging population. The beauty devices markets in both Canada and the US are fueled by rising awareness regarding the potential applications of beauty devices in hair and skin treatment.
A report by Persistence Market Research pegs the value of the US beauty devices market at US$9,034.2 Mn in 2014, which is estimated to grow to US$25,375.7 Mn by 2020 at an impressive 18.80% CAGR from 2014 to 2020. The US beauty devices market owes its growth to the growing population of the elderly. Aging population translates to greater inclination towards beauty devices such as skin rejuvenation and anti-aging devices. In addition to this, harmful effects of ultraviolet radiation, rising prevalence of skin diseases, and growing cases of obesity resulting in the accumulation of cellulite have contributed towards the increasing demand for beauty devices in the US. Research analysts project that rising preference for at-home beauty devices and manufacturing companies developing innovative and cost-effective products are likely to boost the demand for beauty devices in the country. However, complications associated with beauty devices such as contact dermatitis, superficial fungal and bacterial infections, and prolonged erythema hampers the development of the US market.
The leading players competing in the US beauty devices market include Koninklijke Philips N.V., L’Oréal Group, Syneron Medical, Ltd., HairMax (Lexington International, LLC), Home Skinovations Ltd., TRIA Beauty, Inc., Carol Cole Company, Nu Skin Enterprises, Inc., Procter & Gamble Company, PhotoMedex, Inc., Panasonic Corporation, and Cynosure, Inc.
Browse the full US Beauty Devices Market report at http://www.mrrse.com/us-beauty-devices-market