Rockville , Sept. 15, 2023 (GLOBE NEWSWIRE) -- As per a newly published research report by Fact.MR, a market research and competitive intelligence provider, the global laser hair removal market is forecasted to expand at a CAGR of 5% and reach US$ 455 million by 2033.
Improving the standard of living in developing countries is fueling demand for laser hair removal products. Increasing awareness among the majority of people about their external appearance, particularly females, is leading to a noticeable surge in the demand for permanent hair reduction technology.
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The American Society of Aesthetic Plastic Surgery mentioned that laser hair removal techniques are considered among the five prominent non-surgical treatments adopted globally.
| Report Attributes | Details |
| Value Projection (2033) | US$ 455 Million |
| Growth Rate (2023-2033) | 5% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
Key Takeaways from Market Study
- The global laser hair removal market stood at US$ 265 million in 2022.
- Sales of laser hair removal products in the United States reached US$ 94.3 million in 2022.
- Worldwide demand for laser hair removal techniques is estimated to reach a market value of US$ 278.3 million in 2023.
- The global market is set to reach US$ 455 million by 2033-end.
- Sales of laser hair removal techniques are forecasted to rise at a CAGR of 5% from 2023 to 2033.
- Demand for laser hair removal practices in China is predicted to rise at a CAGR of 6% and reach a market size of US$ 39.5 million by 2033-end.
- The German market is forecasted to advance at 4.1% CAGR through 2033.
- Worldwide revenue from non-invasive aesthetic treatment for men is anticipated to reach US$ 297 million by the end of 2033.
“Growing awareness about the safety of aesthetic laser hair removal equipment and innovations in aesthetic techniques are driving market growth,” says a Fact.MR analyst.
Technological Advancements in Laser Treatments
Prominent industry players invest in advancing laser hair removal technologies. The ruby laser, originating in the 1960s, is recognized as the first equipment for hair removal by lasers. Today, this equipment, featuring lasers like Nd: YAG, diode, etc., efficiently minimizes unwanted hair growth. Integration of cutting-edge cooling technologies within lasers enhances patient comfort.
For instance:
- Motus AY, in January 2020, launched an advanced laser hair removal platform. It comes with a high-speed alexandrite laser benefiting dark and light skin tones.
Leading Market Players
- Lumenis Ltd.,
- Theradome,
- Lira Style,
- Alma Lasers,
- Lynton Lasers Ltd.,
- Canada MedLaser Inc.,
- Venn Healthcare,
- Cutera,
- Krupa Medi Scan,
- Venus Concept,
- Bosley Inc.,
- Fotona,
- Candela Corporation,
- Sciton, Inc.,
- Beijing Sanhe Beauty S&T Co., Ltd.
Why is the US a lucrative market for manufacturers of laser hair removal products?
Focus on Technological Advancements in Aesthetic Treatments
In 2022, the value of the US market was projected to be $94.3 million. In the United States, effective advanced hair removal products have been developed as a result of technological improvements in aesthetic treatments. Also, rising lifestyle goods expenditure is making fortunes for local producers. The existence of multiple notable firms is also affecting market dynamics.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the laser hair removal market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on product (Nd: YAG, diode, alexandrite), gender (male, female), age group (13 to 29, 30 to 54, 55 to 69), and end user (dermatology clinics, beauty clinics, hospitals, home use), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the MEA).
Explore More Related Studies Published by Fact.MR Research:
Hair Dye Market: The market for hair dye is expected to advance at a CAGR of 4.7% from 2023 to 2033.
Hair Grooming Products Market: Sales of hair grooming products are expected to reach US$ 37.2 billion by the end of 2033.
Hair Removal Wax Market: Worldwide sales of hair removal wax are predicted to rise at a 6% CAGR from 2023 to 2033.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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