USD 949.54 million
Global Laser Hair Removal Market Size, Share, Growth Analysis, By Technology(diode lasers, Nd:YAG lasers), By Distribution channel(direct sales, distributor sales), By End Use(professional segment, home use) - Industry Forecast 2024-2031
Report ID:
SQMIG35B2099 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
91 |
Figures:
76
Global Laser Hair Removal Market Insights
Global Laser Hair Removal Market size was valued at USD 949.54 million in 2022 and is poised to grow from USD 1129.00 million in 2023 to USD 4509.72 million by 2031, growing at a CAGR of 18.9% during the forecast period (2024-2031).
The Global Laser Hair Removal Market is witnessing remarkable growth, driven by the increasing demand for effective and long-lasting hair removal solutions across the globe. Laser hair removal is a non-invasive cosmetic procedure that uses laser technology to target and destroy hair follicles, resulting in reduced hair growth. The purpose of this market is to provide a convenient and efficient alternative to traditional hair removal methods such as shaving, waxing, and plucking. Several factors are fueling the growth of the laser hair removal market. Firstly, the rising beauty consciousness among individuals and the desire for smooth and hair-free skin are driving the demand for laser hair removal treatments. Additionally, the advancements in laser technology, including the development of more precise and efficient laser devices, are enhancing the effectiveness and safety of the procedure. Moreover, the increasing disposable income and the growing influence of media and fashion trends are further contributing to the market growth.
However, the market does face some restraints. The high cost of laser hair removal treatments and the requirement for multiple sessions to achieve desired results can limit its adoption, particularly in price-sensitive markets. Furthermore, concerns related to potential side effects such as skin irritation, pigmentation changes, and temporary discomfort can also hinder market growth to some extent. Despite these challenges, the laser hair removal market presents several key trends and opportunities. One notable trend is the growing demand for at-home laser hair removal devices, which offer convenience and privacy to consumers. The market is also witnessing the emergence of portable and handheld laser devices, making the treatment accessible to a wider consumer base. Moreover, the increasing adoption of advanced technologies like intense pulsed light (IPL) and diode lasers in hair removal procedures opens up new opportunities for market players to expand their offerings and cater to diverse customer needs.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Professional Segment
Fastest Growth
Professional Segment
Growth Rate
18.9% CAGR
Global Laser Hair Removal Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Laser Hair Removal Market Size By End Use 2021-2030 ($ Bn)
Global Laser Hair Removal Market Size By End Use 2021-2030 (%)
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Global Laser Hair Removal Market Segmental Analysis
Global Laser Hair Removal Market is segmented on the basis of technology, distribution channel, end use, and region. By technology, the market is segmented into diode lasers, Nd:YAG lasers, alexandrite lasers, and intense pulsed light (IPL) systems. By distribution channel, the market is segmented into direct sales, distributor sales, and e-commerce. By end use, the market is segmented into professional segment, home use, and the medical sector. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Laser Hair Removal Market Analysis By Technology
Diode lasers hold the largest market share due to their exceptional precision, effectiveness, and versatility in hair removal treatments. Diode lasers provide targeted and controlled energy delivery, specifically absorbed by the melanin in hair follicles, leading to efficient hair removal while minimizing damage to the surrounding skin. These lasers offer a high level of customization, allowing practitioners to adjust parameters based on various skin and hair types. With their proven track record and widespread adoption, diode lasers continue to dominate the laser hair removal market, capturing a significant share.
On the other hand, intense pulsed light (IPL) systems are experiencing the fastest growth in the market. IPL systems utilize a broad spectrum of light wavelengths to target hair follicles, making them suitable for a wide range of skin and hair colors. IPL systems offer versatility by addressing other skin concerns such as pigmented lesions and vascular treatments, in addition to hair removal. With their non-invasive nature and ability to cover larger treatment areas quickly, IPL systems are gaining popularity among both practitioners and consumers. The growing demand for IPL systems can be attributed to their effectiveness, convenience, and potential cost savings compared to other laser technologies. As more individuals seek safe and efficient hair removal solutions, the demand for IPL systems is expected to surge, making it the fastest growing segment in the laser hair removal market.
Laser Hair Removal Market Analysis By End Use
The professional segment holds the largest share of the laser hair removal market, driven by the widespread adoption of professional laser hair removal services in salons, clinics, and spas. Professionals in these settings utilize advanced laser devices to deliver effective and precise hair removal treatments to their clients. The professional segment benefits from the expertise and experience of trained professionals who can tailor treatments to individual needs, ensuring optimal results. The availability of a wide range of treatment options and the ability to target various skin and hair types contribute to the dominance of the professional segment in the market.
On the other hand, the home use segment is experiencing rapid growth and emerges as the fastest growing segment in the laser hair removal market. With advancements in technology, home use laser hair removal devices have become more accessible, convenient, and user-friendly. These devices enable individuals to enjoy the benefits of laser hair removal in the comfort of their own homes, saving time and money compared to repeated salon visits. The increasing desire for long-term hair reduction and the convenience of home treatments drive the growth of this segment. Moreover, the COVID-19 pandemic has also accelerated the demand for home use devices as individuals sought alternatives to professional treatments during lockdowns and social distancing measures.
Global Laser Hair Removal Market Size By End Use 2021(%), 2023 (%)
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Global Laser Hair Removal Market Regional Insights
One such dominating region is North America, holding a significant market share in the industry. The region's dominance can be attributed to factors such as high disposable income, advanced healthcare infrastructure, and a strong emphasis on aesthetic procedures. In North America, laser hair removal has gained immense popularity as a convenient and effective method of achieving long-term hair reduction. The market is driven by the rising beauty consciousness among individuals and the increasing desire for smooth, hair-free skin. Moreover, the presence of well-established market players, technological advancements, and extensive marketing efforts contribute to the region's market dominance. For instance, the United States stands out as a major market within North America. With its thriving beauty and wellness industry, the country has witnessed substantial growth in laser hair removal procedures. The market is supported by a large consumer base, the availability of skilled professionals, and a wide range of aesthetic clinics offering laser hair removal services. The United States holds a significant market share due to the high adoption rate and increasing demand for advanced hair removal technologies.
While North America dominates the laser hair removal market, the Asia Pacific region is emerging as the fastest-growing region. The market in this region is fueled by factors such as increasing disposable income, changing lifestyles, and growing awareness about aesthetic procedures. Countries like China, Japan, and South Korea are witnessing a surge in demand for laser hair removal treatments. China, in particular, showcases substantial growth potential in the laser hair removal market. The country's booming beauty industry, large population, and growing middle-class segment are driving the adoption of laser hair removal procedures. With the increasing number of aesthetic clinics and the availability of cost-effective laser devices, China is experiencing rapid market growth, making it a key player in the Asia Pacific region.
Global Laser Hair Removal Market Size By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Global Laser Hair Removal Market Dynamics
Laser Hair Removal Market Drivers
Increasing Demand for Aesthetic Procedures
- There is a growing demand for aesthetic procedures worldwide, driven by factors such as changing beauty standards, increasing disposable income, and a desire for self-enhancement. Laser hair removal offers a long-lasting solution for hair reduction, leading to its rising popularity. For instance, in the United States, laser hair removal ranked as the third most popular non-surgical cosmetic procedure in 2021, with millions of treatments performed annually.
Laser Hair Removal Market Restraints
High Initial Investment and Maintenance Costs
- Establishing a laser hair removal clinic or purchasing laser equipment requires a significant upfront investment. The cost of high-quality laser devices, along with the expenses associated with proper training, maintenance, and ongoing consumables, can be substantial. This cost barrier may limit the entry of new players into the market and pose challenges for smaller clinics or practitioners.
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Global Laser Hair Removal Market Competitive Landscape
The Global Laser Hair Removal Market is characterized by intense rivalry and innovation. Key players focus on developing advanced laser technologies, improving treatment efficacy, and expanding their product portfolios to cater to a wide range of consumer needs. The market witnesses frequent product launches, strategic collaborations, acquisitions, and partnerships, as companies aim to strengthen their market presence and gain a competitive edge. Moreover, marketing efforts, pricing strategies, and after-sales service play crucial roles in sustaining market position. With the increasing demand for safe, efficient, and personalized hair removal solutions, competition in the laser hair removal market is expected to intensify further in the coming years.
Laser Hair Removal Market Top Player’s Company Profiles
- Lumenis Ltd. (Israel)
- Cynosure LLC (US)
- Syneron Medical Ltd. (Israel)
- Hologic Inc. (US)
- Sciton Inc. (US)
- Fotona d.o.o. (Slovenia)
- Solta Medical Inc. (US)
- Sharplight Technologies Ltd. (Israel)
- Lynton Lasers Ltd. (UK)
- Candela Corporation (US)
- Lutronic Corporation (South Korea)
- Elen s.r.l. (Italy)
- Ellipse A/S (Denmark)
- Viora Inc. (US)
- Quanta System S.p.A. (Italy)
- Dermologica (US)
- Coolglide (US)
Recent Developments
- In October 2022, Ulike unveiled the Sapphire Ice-cooling hair removal device, Air3, expanding its availability to a broader consumer base and bringing the allure of beauty technology to women in Southeast Asia. The Air3 sapphire hair removal device introduced a new level of energy efficiency, with a total energy utilization increased to 21J. This advanced device offers enhanced cooling features and innovative technology, providing users with a comfortable and effective hair removal experience.
- In March 2022, Lumenis introduced its cutting-edge Splendor X device to the United Kingdom market. This innovative device received CE clearance for a range of treatments, including hair removal, vascular treatments, pigmented lesions, and the treatment of wrinkles. With its versatile capabilities, the Splendor X device offers a comprehensive solution for various aesthetic concerns, enabling practitioners to deliver effective and personalized treatments to their patients. This launch further strengthens Lumenis' presence in the UK market and provides healthcare professionals with advanced tools to meet the diverse needs of their clientele.
Global Laser Hair Removal Key Market Trends
- Rising Demand for At-Home Laser Hair Removal Devices: With advancements in technology, there is a rising trend frr at-home laser hair removal devices. These devices provide convenience and privacy to users, allowing them to perform treatments in the comfort of their homes. Major players in the market are introducing compact, user-friendly, and FDA-cleared devices, catering to the increasing demand for at-home solutions. For example, a leading beauty technology company launched a handheld laser hair removal device designed for safe and effective use by consumers at home.
Global Laser Hair Removal Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analyses, The Global Laser Hair Removal Market is poised for substantial growth in the coming years. This growth is primarily driven by factors such as the increasing emphasis on personal grooming, the rising prevalence of unwanted hair, and advancements in laser technology. Laser hair removal offers a safe, effective, and long-lasting solution for hair removal compared to traditional methods. Moreover, the growing consumer awareness about the benefits of laser hair removal, such as reduced pain and discomfort, faster treatment times, and minimal side effects, is boosting its adoption. The market is also benefiting from the expanding target consumer base, including both men and women, across various age groups. Additionally, the availability of technologically advanced devices and the expanding network of aesthetic clinics and spas worldwide are further fueling market growth. With these favorable market dynamics, the global laser hair removal market is anticipated to witness significant expansion in the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 949.54 million |
| Market size value in 2031 | USD 4509.72 million |
| Growth Rate | 18.9% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Laser Hair Removal Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Laser Hair Removal Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Laser Hair Removal Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Laser Hair Removal Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Laser Hair Removal Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Laser Hair Removal Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Laser Hair Removal Market Report Snapshots
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