Pune, July 15, 2024 (GLOBE NEWSWIRE) -- Laser Hair Removal Market Size & Growth Analysis:
“According to Research by SNS Insider, The Laser Hair Removal Market size was valued at USD 1.23 Billion in 2023 and is anticipated to surpass USD 5.02 Billion, with a compound annual growth rate of 17.81% over the forecast period 2024-2032.”
Growing inclination towards non-invasive medical procedures is aiding the demand for laser hair removal Market. Laser hair removal ([treatment for the hairs generated at unwanted parts of the body]) is placed on the effect of the patient body whether it is a machine or device, and works on a laser. By doing it, it can also be helpful to shave away each hair follicle from that region. The efficacy of laser hair removal is affected by both the color of our body as well as type(pigment) and skin(epidermis). The process of conduction is governed by the following general rule: The pigment in hair should absorb light, not the pigment present in our epidermis.
The Laser Hair Removal Market is Witnessing Tremendous Growth due to the Rising Awareness Regarding Aesthetic Treatments.
Furthermore, millions of people across the globe search for products every day to take care of their exterior appearance using non-invasive remedies. Others still seek hair removal treatments, despite having normal to abundant quantities of body and facial hair while those with lines and wrinkles turn to Botox. The increasing technological advancements have further expanded the prospects of money-gaining possibilities in laser hair-removing treatments as well. The technique used for hair removal is non-invasive and it is also considered as a non-surgical manner of removing hair, which has drawn volumes of customers to the businesses. Since the non-invasive therapy presents smaller side effects than that of invasive treatment and those therapies have been clinically validated with required product approvals from the U.S. FDA, it has drawn lots of attention in recent years.
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Major Players Analysis Listed in this Report are:
- Viora
- Cynosure
- Solta Medical, Inc.
- Candela Corporation
- Lumenis Ltd.
- Cutera
- Fotona
- Venus Concept
- Alma Lasers
- Syneron Medical Ltd.
- Other Players
A major trend in the market is leading companies are focusing more on the development of advanced devices integrated with multiple technologies. The newest mix technique is ideal for the purpose since Nd: YAG alone does not have any effect on blue veins. Also, in one go hair vanishes with this blend technique. Hair removal methods span from the first lasers to Intense Pulsed Light (IPL) The ruby laser, the first used (in the 1960s) for hair removal was created in this way. Still, due to rapid market changes these gizmos have become more and additional well-liked. For example, in 2020 alone around the world a total of at least 271,628 hair removal treatments were done just only on patients from the United States -- and it ranks number one most common procedure there after facelift surgery according to the International Society of Aesthetic Plastic Surgery. As a result, the revenue from this segment drives their Laser Hair Removal.
Laser Hair Removal Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.23 Billion |
| Market Size by 2032 | US$ 5.02 Billion |
| CAGR | CAGR of 17.81% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
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Segmentation Dynamics
Diode lasers held 38% of the market in 2023 This results in dominance of the product by a longer wavelength, 1064 nm due to more absorption into an optical window. Additionally, they have demonstrated that the 755 nm wavelength is more effective than other wavelengths in pigmented skin.
Throughout 2023, Beauty Clinics held highest revenue share of more than 54%. This is due to the rising number of Laser Hair Removal treatments being provided by medical spas and specialized clinics. Additionally, it is anticipated that the growth of segmental would be upgraded with infrastructure facelifts by medical spas and clinics. The increased development is growing consumer craving for Laser Hair Removal.
Laser Hair Removal Market Key Segmentation:
By Type
- Diode
- Nd: YAG
- Alexandrite
- Others
By End-Use
- Beauty Clinics
- Dermatology Clinics
- Home Use
Regional Analysis
North America surged the Laser Hair Removal in 2023 with a market share of 34% because of the ever-evolving technology within the aesthetics sector and high out-of-the-pocket spending power found among Americans.
Moreover, the market will record growth in Europe as well; Western and Eastern European markets are projected to procure majority revenue share due to wide government support coupled with expedient reimbursement contributions for the same. Moreover, the market share of the German Laser Hair Removal market is the largest and the UK Laser Hair Removal market holds its position as the fastest-growing in the European region.
Recent Developments
- In October 2022, Sensus Healthcare, Inc., unveiled Silk by Sensus to attendees of the transportable hair removal system from their new product line at the Fall Clinical Dermatology Conference.
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Table of Contents - Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Laser Hair Removal Market Segmentation, By Type
8. Laser Hair Removal Market Segmentation, By End-Use
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
11.1 Competitive Benchmarking
11.2 Market Share Analysis
11.3 Recent Developments
11.3.1 Industry News
11.3.2 Company News
11.3.3 Mergers & Acquisitions
12. USE Cases and Best Practices
13. Conclusion
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