Laser Hair Removal Market: Global Industry Analysis and Forecast (2023-2029)

Laser Hair Removal Market size was valued at US$ 908.55 Mn. in 2022 and the total revenue is expected to grow at a CAGR of 20.5% through 2023 to 2029, reaching nearly US$ 3351.67 Mn.
Laser Hair Removal Market Overview:
Laser hair removal is a method of amputation that involves exposing the hair follicle to bursts of laser light that destroy it. One of the market's significant drivers is the shifting trend for maintaining ideal visual appearance. Several technological advancements in attractive lasers are also aiding industry growth. Quanta Systems' mixing of modalities in the Thunder MT system, for example, is one of the market's most recent innovations. This method can also be used to treat other conditions such as blue veins, which cannot be treated with Nd: YAG alone. Mixing modalities is gaining popularity as a way to achieve big outcomes in just one treatment. It enables medical personnel to do photo-rejuvenation facials in about 15 minutes.To know about the Research Methodology :- Request Free Sample Report
Laser Hair Removal Market Dynamics:
The market is being driven by rising concerns about facial hair development, such as hair growth on the lips, neck, chin, and sideburn area. Laser hair removal is a popular cosmetic procedure that involves focusing extremely concentrated light beams on hair follicles, absorbing the existing pigment, and destroying the hair. Furthermore, the accessibility of these devices at medical stores that provide personal care products is increasing product demand and, as a result, market growth.

However, the high cost of hair removal treatment at beauty salons or dermatology clinics is a significant market challenge. Furthermore, the increasing number of FDA-approved products that are moderately less expensive than treatments will present a growth opportunity for the laser hair removal market. The FDA has approved products such as VeetInfini'Silk Pro, Remington IPL6000 I-Light Pro, Silk'nFlash&Go, and others because to their safety and efficiency. Furthermore, rising consumer disposable income levels and prospective growth prospects in developing countries such as Asia Pacific are boosting market growth.

The Covid-19 pandemic has disrupted many industries over the world, including the aesthetics industry. Due to severe lockdowns, the majority of non-emergency dermatology consultations were withdrawn from the market.

Telecommunication became widespread as a preferred means of contact for both patients and physicians during this time. Aesthetic services have recently resumed in a gradual fashion with rigorous regulations and conditions in the countries, owing to the relaxation of lockdown restrictions.
Laser Hair Removal Market Segment Analysis:
The Laser Hair Removal Market is segmented by Laser Type, and End Use.

Based on the Laser Type, the market is segmented into Diode, Nd:YAG, and Alexandrite. Diode laser type segment is expected to hold the largest market shares of 39% by 2029. This is due to the product's excellent precision. The diode laser carefully targets the body part and eliminates hair effectively and painlessly.

Fiber optic communications, barcode readers, laser pointers, CD/DVD/Blu-ray disc reading/recording, laser printing, laser scanning, and light beam illumination are all applications for laser diodes, which are the most common type of laser. Laser diodes can be utilised for general illumination by using a phosphor similar to that found in white LEDs. These are the key factor that drives the growth of this segment in the Global Laser Hair Removal Market during the forecast period 2023-2029.

Based on the End Use, the market is segmented into Beauty Clinics, Dermatology Clinics, and Home Use. Beauty Clinics held the largest market share of 52% in 2022 and is expected to grow rapidly during the forecast period. Due to strong disposable income and aesthetic market trends, this growth could indicate rapid acceptance and widespread use of technology by consumers. These are the major drivers that boost the growth of this segment in the Global Laser Hair Removalmarket during the forecast period 2023-2029.

Dermatology Clinics is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Dermatology is regarded a quality of life field, which means that demand for these experts is higher than in other medical specialties. The rising incidence of skin cancer, as well as public awareness and concern about the issue, are expected to increase demand in the field.
Laser Hair Removal Market Regional Insights:
North America dominates the Global Laser Hair Removal market during the forecast period 2023-2029. North America held the largest market share of 35% in 2022 and is expected to continue its dominance during the forecast period. This is due to an increase in demand and trend for hair removal operations, the attendance of well-established dermatological clinics, and the availability of skilled specialists in the region. Artistic lasers were widely utilised by professionals in North America for a variety of applications. These are the major drivers that boost the growth of this region in the Global Laser Hair Removal market during the forecast period 2023-2029.

Asia Pacific is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Due to the increasing frequency of skin damage and growing population, as well as Beauty treatments, Asia Pacific is expected to be the fastest-growing regional market over the forecast period, particularly in China and India. Changing lifestyles, rising consumer disposable income levels, and the fast growing global economy are all factors to consider.The objective of the report is to present a comprehensive analysis of the Global Laser Hair Removal Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global Laser Hair Removal Market dynamic, structure by analyzing the market segments and project the Global Laser Hair Removal Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Laser Hair Removal Market make the report investor’s guide.
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Laser Hair Removal Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 908.55 Mn.


Forecast Period 2023 to 2029 CAGR:
20.5%
Market Size in 2029:
US $ 3351.67 Mn.


 Segments Covered:
by Type
Diode
Nd:YAG
Alexandrite


by Age group
13 to 29
30 to 54
55 to 69


by Gender
Male
Female


by End Use
Beauty Clinics
Dermatology Clinics
Home Use



Laser Hair Removal Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Laser Hair Removal Market Key Players are:
1. Syneron Medical Ltd.
2. Sciton, Inc.
3. Alma Lasers, Ltd.
4. Cynosure, Inc.
5. Cutera Inc.
6. Lumenis Ltd.
7. Lutronic Corp.
8. Lynton Lasers Ltd.
9. Solta Medical, Inc.
10.Strata Skin Sciences, Inc.
11.Venus Concept Canada Corp.
12.Aesthetics Medispa Private Ltd.
13.Skin Solutions
14.Better Life Clinic
15.Clear Skin Private Ltd.
Frequently Asked Questions:
1] What segments are covered in Global Laser Hair Removal Market report?
Ans. The segments covered in Global Laser Hair Removal Market report are based on Laser Type, and End Use.

2] Which region is expected to hold the highest share in the Global Laser Hair Removal Market?
Ans. North America is expected to hold the highest share in the Global Laser Hair Removal Market.

3] Who are the top key players in the Global Laser Hair Removal Market?
Ans. Syneron Medical Ltd., Sciton, Inc., Alma Lasers, Ltd., Cynosure, Inc., and Cutera Inc. are the top key players in the Global Laser Hair Removal Market.

4] Which segment holds the largest market share in the Global Laser Hair Removal market by 2029?
Ans. Diode Laser Type segment hold the largest market share in the Global Laser Hair Removal market by 2029.

5] What is the market size of the Global Laser Hair Removal market by 2029?
Ans. The market size of the Global Laser Hair Removal market is US $ 3351.67 Mn. by 2029.

6] What was the market size of the Global Laser Hair Removal market in 2022?
Ans. The market size of the Global Laser Hair Removal market was worth US $ 908.55 Mn. in 2022.