Laser Hair Removal Market By Type (Alexandrite laser hair removal, Diode laser hair removal, Others), By Gender (Male, Female), By Age group (13 to 29, 30 to 54, 55 to 69), By End User (Hospitals, Clinic, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global laser hair removal market was valued at $584.0 million in 2021, and is projected to reach $2,511.6 million by 2031, registering a CAGR of 15.7% from 2022 to 2031. Laser hair removal is a medical procedure that uses a concentrated beam of light to remove the unwanted hair. A laser emits light that is absorbed by the melanin pigment in the hair. The hair follicles, which are present as tube-shaped sacs within the skin, are damaged when the light energy is transformed into heat energy. The heat energy prevents or delays the growth of new hair. Laser hair removal procedure is used to remove unwanted hair from face, leg, chin, back, arm, underarm, and bikini lines.
The laser hair removal market is driven by increase in the trend among the population to maintain aesthetic appearance, rise in technological advancements in the aesthetic procedures and rise in the number of hair removal procedures. For instance, according to American Society of Plastic Surgeons (ASPS), in 2019, it was reported that around 1,055,456 laser hair removal procedures were performed in the U.S.Moreover, laser treatments are painless as compared to the traditional methods, such as waxing and hair plucking. Therefore, increase in demand for laser hair removal treatment among females is anticipated to fuel the growth of market. In addition, increase in the number of laser hair removal clinics boosts the market growth. According to What clinic, a web platform that allows patients to find clinics, 757 laser hair removal clinics are present in Asia.
Increase in adoption of non-surgical aesthetic procedure over the globe is anticipated to propel the growth of laser hair removal treatment market. For instance, according to the International Society of Aesthetic Procedure Surgery (ISAPS), in 2020, it was reported that around 1,837,052 non-surgical hair removal procedures were performed worldwide. As per the same source, it was also reported that hair removal procedure increased by 76.1% from 2019 to 2020. Moreover, increase in number of product launches and product approval for laser hair removal treatment are anticipated to boost the market growth. In addition, increase in number of dermatological clinics and beauty salons is anticipated to fuel the market growth. Increase in number of professionals who performed laser hair removal procedure is anticipated to fuel the market growth. Moreover, increase in awareness among the population about advantage of different aesthetic procedures and rise in adoption of laser hair removal treatment by all age group are anticipated to fuel the market growth.
On the other hand, high cost of laser hair removal procedure is anticipated to hinder the market growth. Moreover, risk associated after laser hair removal procedure such as skin irritation, temporary discomfort, redness and swelling and pigment changes hamper the growth of laser hair removal market.
The global laser hair removal market is segmented on the basis of type, gender, age group, service provider, and region. On the basis of type, the market is segmented into alexandrite laser hair removal, diode laser hair removal and others. The others include ruby laser hair removal, and Nd:YAG system. By gender, the market is bifurcated into male and female segment. On the basis of age group, the market is divided into 13 to 29, 30 to 54, and 55 to 69. On the basis of service provider, the market is segmented into hospitals, clinic and others. The others segment includes beauty salon and at home. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global laser hair removal market include Almas Laser, Candela Corporation, Cutera, Cynosure, Hairline International Hair & Skin Clinic, La Mer Medical Spa & Yoga, Lira Style, Lumenis, LUTRONIC, Lynton Laser, Pure Luxe Medical, Regeneveda, Sciton, Inc , SEV Laser, SkinMD, Solta Medica (Bausch Health Companies Inc.), and Venus Concept.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the laser hair removal market analysis from 2021 to 2031 to identify the prevailing laser hair removal market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the laser hair removal market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global laser hair removal market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Alexandrite laser hair removal
Diode laser hair removal
Others
By Gender
Male
Female
By Age group
13 to 29
30 to 54
55 to 69
By End User
Hospitals
Clinic
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
Colombia
Rest of LAMEA
Key Market Players
Almas Laser
candela corporation
Cutera
cynosure inc
Hairline International Hair and Skin Clinic
La Mer Medical Spa and Yoga
Lira Style
LUTRONIC
Lynton Laser
Pure Luxe Medical
Regeneveda
Sciton, Inc
Lumenis
SEV Laser
SkinMD
Solta Medical
Venus Concept
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