Laser hair removal Market Size

Product overview

Laser hair removal is a tool used for hair removal and several other skin problems and is used in various cosmetics and medicinal fields. This technology uses a compact or trolley mounted device with a computer-controlled flashgun to deliver powerful, visible, wide-spectrum light pulse with a spectral range of between 400 and 1200 nm. The light of the laser hair removal system includes various chromophores and compounds that are heated and reabsorbed by the body for elimination. Intense pulsed light device is used to cure the hair and acne and other dermatological conditions including lesion treating pigment, rosacea, skin rejuvenation, sebaceous gland hyperplasia. It's a kind of laser system to extract body hair from the spa and hospital of global beauty. It can be distinguished by many ideal wavelengths and specific normal wavelengths with regards to its wavelengths.

Market Highlights

Fatpos Global anticipates the Global laser hair removal Market to surpass USD 3.78 million by 2030, which is valued at 623.64 million in 2019 at a compound annual growth rate of 17.5%.

According to the report, the global laser hair removal system market is driven by a high incidence of different skin conditions. A growing awareness of personal attractiveness and raising public health awareness is driving the global demand for hair removal. Also, the development of the laser hair removal market has a massive impact on improved living standards and increased disposable income. Also, supporting government operations in developing countries compelled the entrepreneurs to produce advanced products that led to initiatives by various multinational corporations, thereby increasing overall hair removal products demand over the last few years. Also, technical findings in processing and economic production have enhanced due to frequent research and development activities in the market.

Laser Hair Removal Market Opportunity Analysis

Source: Fatpos Global

Global laser hair removal Market: Segments

Global market has been segmented based on device, application, and location. It has been further segmented by countries into the eastern, western, northern, and southern regions.

By Device (in %), Global laser hair removal Market, 2019

Mobile dominated the market and accounted for the largest market share in 2019

Global laser hair removal market is segmented by device type into Mobile and fixed

Mobile segment accounted for the highest segment growth owing to ease of use and greater flexibility. Increase in the number of household user and preference of people to use the device which is easy to carry and that can be used at different places fuels the segment growth. Mobile laser hair removal devices are compact and can be carried to different places with ease. Fixed Devices are generally used by the commercial sector who does not have to move the device. However, the longer life of fixed devices is becoming a major factor for the growth of this segment.

By End User Vertical (in %), Global laser hair removal Market, 2019

Beauty Clinics segment accounted for XX% of the global volume in 2019

The Global laser hair removal market is segmented by end-user vertical into Home Use, Dermatology Clinics, and Beauty Clinics. The section of beauty clinics is expected to see the fastest CAGR during the projected timeframe. The growing need for care all over the world is accountable for this. The growth of a segment is also driven by requests for non-invasive treatments. Laser procedures, for example, waxing and picking, are less painful than conventional approaches. The global laser hair removal market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and the rest of the world is classified as Middle-East and Africa.

Source: Fatpos Global

Global laser hair removal Market: Market Dynamics

Market for hair devices and reduced side effects to increase the market growth

Surging demand for non-invasive hair removal procedures such as laser therapy due to its advantages as accuracy and the long-term saving of time and resources continues to increase over time. Most hair removing systems can be used at home, which in turn contributes to the high demand for non-invasive personal treatment techniques. The availability of innovative technical device has also been instrumental in contributing to business growth. New laser devices deliver longer wavelengths of light, allowing them to concentrate only on the melanin in hair follicles. It reduces the risk of skin damage. The growth of hair removal devices on the market is anticipated through these factors over the coming years.

High cost associated with laser hair removal to hamper the market

High product cost may prove to hinder the market growth. People prefer to visit a professional rather than buying the device due to its high cost and preventing the risk of hair damage thus limiting the market for new product’s sale. Moreover, the lack of skilled professionals may hamper market growth.

Global laser hair removal Market: Regions

Asia Pacific was the largest market accounting for XX% of total market volume share in 2019

The global laser hair removal market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia-Pacific, and the rest of the world is classified as Middle-East and Africa. The global laser hair removal system market is driven by a high incidence of different skin conditions. Increased awareness of the attractiveness and high performance of these tools in young generations for the longer impact on hair growth are some of the major factors leading to the global demand for laser hair removal. Moreover, the Asian laser hair removal system market is propelling developments in hair removal technology and skin illness treatment tools during recent years. The intensive pulsed light (IPL) systems market in Japan is powered by increasing customer interest in personal care and an increase in purchasing power that permits the customer to buy costly hair removal products and services within the region. The market was boosted by the increase in beauty awareness among women in particular. This trend is also pursued by the male proportion because they are becoming more aware of grooming. These factors would fuel the demand further.

Source: Fatpos Global

Global laser hair removal market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- UK, Germany, France, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia-Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- India, China, South Korea, Malaysia, Japan, Indonesia, Australia, New Zealand, and Rest of Asia-Pacific
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR- North Africa, Israel, GCC, South Africa and Rest of Middle East and Africa

Global laser hair removal Market: Competitive landscape

The focus of the markets is on growing their share using mergers and acquisitions. To broaden their market range by creating cost-effectively-efficient products with improved properties, industry leaders concentrate on research and development activities. Therefore, manufacturers plan to increase their production capacity to meet the growing demand for goods. The key players are spread across the globe and prefer to carry out their activities through joint ventures.

For instance, Lira Style, a business headquartered in the US, launched its new framework for aesthetics called "Cervello." The key platform offers a validated laser hair removal method on all different skin types, incorporating 1064 long-pulsed YAG, 808 diodes, and 755 alexandrite.

Global laser hair removal Market: Competitive Landscape

Countries worldwide have introduced strict steps as lock-downs and social distancing to limit the penetration of the coronavirus. Resources were distracted from optional treatments by healthcare professionals focusing on treating COVID-19 patients. It has been damaging for the aesthetics sector and the growth of the market for laser hair removal because most operations and treatments are not necessary for this area. Also, concerns of infection have discouraged people from accessing clinics and other medical centers, thus decreasing demand for hair removal and other aesthetic methods. Several governments now allow partial service continuance. However, corporations comply with rigorous rules, and many of them implement them, taking the protection of their customers and workers into account.

Global laser hair removal Market: Key Players

Apax Partners(Syneron Candela)
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
Lynton Lasers Group
Fotona
Valeant Pharmaceuticals (Solta Medical, Inc)
Lutronic
Sciton, Inc
XIO Group (Lumenis)
Hologic, Inc(Cynosure)
Viora
Fosun Pharma (Sisram)
Venus Concept
Other prominent players