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13 Jul, 2015

Global Study on Beauty Devices Forecasts US$54.1 billion market by 2020

DUBLIN–(BUSINESS WIRE)–July 10, 201 — Research and Markets has announced the addition of the “Global Market Study on Beauty Devices: Asia to Witness Highest Growth by 2020” report to their offering. The global beauty devices market is expected to grow from an estimated USD 19,389.1 million in 2014 to USD 54,186.9 million in 2020 at a CAGR of 18.7% during the forecast period.

Globally, the beauty devices market is witnessing significant growth due to increasing aging population. In addition, rising personal care spending, increasing prevalence of skin diseases and harmful effect of ultra violet radiation are also fueling the growth of the market. However, risks and complications associated with beauty devices and extended availability of easy-to-use beauty products hampers growth of the global beauty devices market.

North America is the largest market for beauty devices. Most commonly used in salons; hair removal devices are the most popular type of beauty devices. In terms of growth, Asia is the fastest growing region; at-homes make for the fastest growing usage area; while Light/LED therapy and photorejuvenation devices make for the fastest growing type of beauty devices.

Hair removal devices are used to remove and reduce unwanted hair painlessly without damaging the surrounding skin. The global hair removal devices market is expected to grow from an estimated USD 3,706.1 million in 2014 to USD 10,977.5 million in 2020 at a CAGR of 19.8% during the forecast period.

For more information visit http://www.researchandmarkets.com/research/dmpppf/global_market