Global Hirsutism Treatment Market 2023-2030

Global Hirsutism Treatment Market 2023-2030

Global Hirsutism Treatment Market Size, Share & Trends Analysis Report by Treatment Type (Medications, and Procedures), By Application, (Upper Lip, Chin, Chest, Arms, Others), by End-use (Hospitals, Dermatology Clinics, and Aesthetic Centers), Forecast Period (2024-2031)

The global hirsutism treatment market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period (2024-2031). The growth of this market is attributed to the increasing prevalence of hirsutism among women. According to the American Academy of Family Physicians, hirsutism affects around 8.0% of women, and it is associated with an estimated economic burden surpassing $600 million annually in the US. Cosmetic and psychological problems associated with unwanted hair and the increasing prevalence of polycystic ovary syndrome are major factors projected to fuel market growth during the forecast period. Further, traditional hair removal methods such as threading, waxing, plucking, and bleaching have largely been replaced by laser hair removal owing to their superior long-term results. According to an article published in the Journal of Clinical and Aesthetic Dermatology in June 2022, it has been observed that lasers are now the preferred method for getting rid of unwanted hair because of developments in laser technology. Thus, continuous improvements in technology and increasing adoption of laser treatments among the population are anticipated to propel the growth of hirsutism treatment during the forecast period.

Segmental Outlook

The global hirsutism treatment market is segmented by treatment type, application, and end-use. Based on the treatment type, the market is sub-segmented into medications and procedures. Based on the application, the market is sub-segmented into upper lip, chin, chest, arms, and others. Where others include the neck and lower back. Further, based on end-use, the market is sub-segmented into hospitals, dermatology clinics, and aesthetic centers. Among the end-use, the dermatology clinics, and aesthetic centers sub-segment is anticipated to hold the largest market share during the forecast period. The large share of this segment is credited to lower costs, higher efficiency, and availability.

Upper Lip Sub-Segment is Anticipated to Hold a Considerable Share of the Global Hirsutism Treatment Market

Therising concerns about appearance among individuals, and rising expenditure on skin care, attributing to the segmental growth. Facial hair varies in volume and type in women. As per the article published by Clinique Matrice, it is common for women to have light facial hair on the exterior corners of the jawline and upper lip. This natural facial hair is beneficial termed peach fuzz. Women from European countries (including Italy and Greece) and the Indian sub-content tend to have extra facial hair than women in other parts of the world.

Regional Outlook

The global hirsutism treatment market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to grow at the highest CAGR over the forecast period. The growing demand for hirsutism treatment, the increasing geriatric population, the rising personal care expenditure, and increasing treatment for hair removal treatment driving the hirsutism treatment market in the Asia-Pacific.

North America to Hold Prominent Share in the Global Hirsutism Treatment Market

North America is expected to hold a prominent share in the Hirsutism Treatment market during the forecast period. The significant factors contributing to the regional market share include the increasing number of hirsutism cases, changing lifestyles, and the increased spending power of consumers. According to the NIH, hirsutism is the most common endocrine disorder affecting nearly 10.0% of women in the US. Despite the underlying cause, hirsutism has the potential to cause significant emotional distress and psychological distress. Additionally, the increasing number of clinics for the treatment of hirsutism boosts the market growth in the region. In February 2020, the School of Medicine Webmaster, Dr. Su Hee Kim, Assistant Professor in Internal Medicine with fellowship training in Endocrinology, started a new PCOS clinic at the Midlife Health Center.This clinic offered care for women with metabolic issues, hirsutism related to PCOS, and especially women with PCOS requiring medical help with weight loss.

Market Players Outlook

The major companies serving the hirsutism treatment market include Alma Lasers Ltd, Cynosure Inc., Lumenis Inc., Nisim Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2022, Endymed Ltd. received FDA approval for the marketing and sales of Pure Laser, a new hair removal device in the US. This launch helped the company to improve the variety of its aesthetic offerings to both the Company's partners and clients.

The Report Covers

Market value data analysis of 2023 and forecast to 2031.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global hirsutism treatment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.