According to a new market report published by Persistence Market Research titled The U.S. Market Study on Beauty Devices: At-home Devices to Witness Highest Growth by 2020, the U.S. beauty devices market was valued at USD 9,034.2 million in 2014 and is expected to grow at a CAGR of 18.8% from 2014 to 2020, to reach an estimated value of USD 25,375.7 million by 2020.
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The U.S. beauty devices market is witnessing significant growth due to rising in geriatric population, as these beauty devices help reverse skin aging. Moreover, increasing the 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, the wide availability of easy-to-use beauty products inhibits the growth of the U.S. beauty devices market. The U.S. beauty devices market is anticipated to grow from USD 9,034.2 million in 2014 to USD 25,375.7 million by 2020 at a CAGR of 18.8% during the forecast period.
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In North America, increasing aging population and availability of advanced devices are driving the growth in demand for beauty devices in the 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.
L’Oréal Group, Nu Skin Enterprises, Inc., Home Skinovations Ltd., PhotoMedex, Inc., TRIA Beauty, Inc., Koninklijke Philips N.V., Syneron Medical, Ltd., Cynosure, Inc., and Procter & Gamble Company are some of the major players in the U.S. beauty devices market.