Nu Skin moves into fast-growing skin care devices market
The company said that the 510 (k) application that it had filed with the FDA one year ago has finally been given approval after fulfilling the government body’s strict codes on safety and product claims.
The device has been given approval for over-the-counter cosmetics use, and targets the fast-growing market for electronic devices used for cosmetics purposes, a category that has been steadily growing over the past few years, but is now hotly tipped to be one of the biggest trends.
Tapping into worldwide demand for beauty devices
"We have seen great demand for our innovative spa products throughout the world which has helped us to become a global leader in the home-use skin care device market," said Joseph Chang, Ph.D., chief scientific officer.
"We are pleased that our US sales leaders and consumers will be able to enjoy the benefits of this skin care device."
According to a market report from Kline Group, released back in July, the global market for at-home beauty devices grew by approximately 22 percent last year, but still shows significant room for further development.
In particular Nu Skin is looking to target the market in the Asia Pacific region, where it already has a particularly strong footprint in the China market.
China is a big market for beauty devices
And it is in China where the beauty devices market has seen some of the biggest growth rates, as consumers there are eager to try out new and effective beauty regimes on the back of increasing levels of income for the middle class consumers.
According to the Kline researchers the market is still relatively immature, which means that there remain significant opportunities, specifically in the area of application potential, where such devices are said to be under-marketed.
Ewa Grigar, senior analyst within Kline’s Consumer Products practice, comments, “Kline’s research is finding less optimal satisfaction with anti-aging and cellulite-reducing/toning products and herein lies a lucrative opportunity for beauty devices specifically targeting these particular skin care conditions.”
