According to a new market report published by Persistence Market Research, , the U.S. beauty device market is expected to more than double in the next five years. It was valued at $9,034.2 million in 2014 and is expected to grow at a compound annual growth rate of 18.8 percent from 2014 to 2020, to reach an estimated value of $25,375.7 million by 2020. The U.S. beauty device market is witnessing significant growth due to a growing geriatric population, as these beauty devices help reverse skin aging among other concerns. Devices include technology for hair removal, cleansing, acne, skin rejuvenation, intense pulsed light, oxygen and steamer, hair growth, derma roller, and cellulite reduction. Moreover, increasing prevalence of obesity resulting in cellulite accumulation and skin diseases, and harmful effects of ultraviolet radiation are also driving the market. However, there are various risks and complications associated with beauty devices such as bruising, swelling, and redness. Furthermore, wide availability of easy-to-use beauty products inhibits the growth of the U.S. beauty devices market. In addition, in the U.S., there are around 750,000 beauty salons and spas. These beauty salons and spas have propelled the demand for beauty devices and personal care products in order to offer better services to their customers.
According to the report, some of the major players in the U.S. beauty device market are L’Oréal Group, Nu Skin Enterprises, Home Skinovations, PhotoMedex, TRIA Beauty, Koninklijke Philips, Syneron Medical, Cynosure, and Procter & Gamble Company. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.