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Demand is being fueled by an increase in older consumers, plus a rise in spending on personal care.
June 2, 2016
By: Marie Redding
The global beauty devices market was valued at $23,403.9 million in 2015, and it is expected to grow with a CAGR of 19.0% during the period 2016 – 2022, according to this report by P&S Market Research. This increase is due to the growth of the geriatric population, as well as the increasing prevalence of skin diseases, such as acne and psoriasis. In addition, a rise in consumers’ disposable income is leading to increase in spending on personal care, thus boosting the growth of the global beauty devices market. Some of the key companies operating in the beauty devices market include L’Oréal Group, Nu Skin Enterprises Inc., Panasonic Corporation, Home Skinovations Ltd., PhotoMedex Inc., Carol Cole Company, Procter & Gamble Company, Syneron Medical Ltd., TRIA Beauty Inc., and Koninklijke Philips N.V.
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