Europe Beauty Devices Market stands next to North America in terms of overall sales opportunity and is expected to register a CAGR of 7.8% during the forecast period. Market dynamics in Europe is quite similar to North America with Germany dominating the regional share.
Beauty devices market in Europe is primarily driven by demand for innovative products with high brand perception. Contrary to North America, companies in Europe spends relatively higher amount on advertisement to create awareness and gain consumer loyalty. Furthermore, the industry is highly concentrated with top six players accounted for nearly 83% of regional sales in 2017.
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Europe Beauty Devices Market Size Analysis, Market Dynamics
Beauty devices market in Europe is driven by both – commercial spaces (spa and salons) as well as at-home usage. Consumer spending in the region is relatively higher compared to other regions. As such, adoption rate is particularly higher in especially in EU-5 and Russia.
Other factors that has created favorable business environment for companies are rise in age old population along with increased prevalence rate of acne diseases. Consumers are more health and look conscious – leading to significant sales of such devices in the region.
Much of the demand will come from sales of acne related devices. Over 65 % of adolescents and `age old population have experienced acne at moderate level. Technological advancement has led to better treatment of such diseases.
Europe Beauty Devices Market Size Analysis, Country Analysis
Germany will account for over 27% of regional share and will continue to dominate the market throughout the forecast period. While EU-5 accounted for the majority of the Europe share, Russia is expected to register fastest growth between 2018 and 2028.
There has been substantial change in consumer outlook in the country wherein consumer spending increased by 2.1% in 2017 as compared to 2016. Russia represents a very big market for beauty products.
Europe Beauty Devices Market Size and Forecast: Competition Landscape
Some key Europe beauty devices market players are L’Oréal Group, PhotoMedex, Inc., Cynosure, Inc., Nu Skin Enterprises, Inc., Syneron Medical, Ltd., Koninklijke Philips N.V., TRIA Beauty, Inc., Home Skinovations Ltd., and Procter & Gamble.
Beauty Devices Market Industry Segmentation
By Product Type:
- Hair Removal Devices
- Cleansing Devices
- Acne Devices
- Oxygen and Steamer Devices
- LED Therapy Devices
- Hair Growth Devices
- Cellulite Reduction Devices
- Skin Dermal Rollers
- Other Beauty Devices
- At-Home Usage
- Dermatology Centers
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