Laser Hair Removal Market Forecasts to 2030 – Global Analysis By Type (Alexandrite Laser Hair Removal, Diode Laser Hair Removal and Other Types), Gender (Female and Male), Age Group, Distribution channel, End User and By Geography

Laser Hair Removal Market Forecasts to 2030 – Global Analysis By Type (Alexandrite Laser Hair Removal, Diode Laser Hair Removal and Other Types), Gender (Female and Male), Age Group, Distribution channel, End User and By Geography

According to Stratistics MRC, the Global Laser Hair Removal Market is accounted for $1147.9 million in 2023 and is expected to reach $4334.1 million by 2030 growing at a CAGR of 20.9% during the forecast period. Laser hair removal is a non-invasive cosmetic procedure that uses laser technology to target and destroy hair follicles, resulting in reduced hair growth. A simple and effective substitute for conventional hair removal techniques like shaving, waxing, and plucking is laser hair removal treatment. It provides precise, long-lasting hair reduction by targeting specific dark hairs while preserving surrounding skin.

According to International Society of Aesthetic Plastic Surgery (ISAPS), in 2020, 1,837,052 hair removal procedures were performed worldwide.

Market Dynamics:

Driver:

Increased adoption of non-invasive treatments

The majority of people look for ways to improve their outward appearance, and non-invasive techniques are preferred. While some people choose Botox for wrinkles and lines, others need hair removal products because they have normal or excessive hair. Technological developments are making it possible for non-invasive laser hair removal procedures, which are becoming progressively more popular. The non-surgical nature of this method makes it appealing to a large number of customers. The popularity of laser hair removal devices is largely due to the rare side effects of non-invasive treatments as opposed to invasive ones. Therefore, increased adoption of non-invasive treatments is driving market growth.

Restraint:

High cost

The cost of treatment is a significant restraint in the laser hair removal market. Laser hair removal can be relatively expensive, requiring multiple sessions to achieve the desired outcomes. Laser hair removal typically necessitates multiple sessions, each tailored to the client's specific needs. This accumulates costs, making it less affordable for some individuals. Moreover, the expense can significantly vary depending on the size of the treatment area and geographical location, further limiting accessibility. Thus, it is hampering market growth.

Opportunity:

Convenience and time savings

Laser hair removal provides a more permanent solution than traditional methods, which require repeated procedures and frequent maintenance. As hectic lives become the norm, people look for effective and long-lasting treatments. That is precisely what laser hair removal offers by greatly lowering the frequency of shaving, waxing, or plucking. Men and women alike find this time-saving feature appealing, which motivates them to choose laser treatments as a hassle-free means of achieving their hair reduction objectives. The procedure has become more popular due to its ease of use and adaptability to the hectic schedules of modern life, which has contributed to market expansion.

Threat:

Safety concerns

Safety concerns are a significant barrier to the laser hair removal market. Inadequate training or misuse of laser equipment can result in burns, scarring, and discoloured skin. Moreover, if the laser hair removal technician fails to accurately determine the client's skin type and hair colour, the procedure's safety may be jeopardized. Adverse reactions or ineffective treatment may result from mismatched settings. These factors are hampering market demand.

Covid-19 Impact

The COVID-19 pandemic is anticipated to hinder the expansion of the worldwide laser hair removal industry. Restructuring several clinics and hospitals increased hospital capacity for COVID-19-positive patients. Because of the pandemic, non-essential surgical procedures were postponed. Non-emergency cosmetic procedures like laser hair removal have seriously harmed aesthetic companies' bottom lines. Furthermore, a sudden and steep decline in the population's monthly income is predicted to damage the market for laser hair removal.

The diode laser hair removal segment is expected to be the largest during the forecast period

The diode laser hair removal segment is estimated to hold the largest share, due to their exceptional precision, effectiveness, and versatility in hair removal treatments. Diode lasers remove hair efficiently with the least amount of skin damage possible by precisely delivering energy that is absorbed by the melanin in hair follicles. With the high degree of customization these lasers offer, practitioners can modify parameters based on different types of skin and hair. Diode lasers continue to hold a sizable market share in the laser hair removal industry due to their established track record and broad use.

The dermatology clinics segment is expected to have the highest CAGR during the forecast period

The dermatology clinics segment is anticipated to have lucrative growth during the forecast period. Dermatology clinics are reliable suppliers of laser hair removal services, providing patients with the guarantee of professional medical knowledge. These clinics offer precise and efficient hair removal treatments due to their cutting-edge laser technology. Moreover, patient care and safety are given top priority in dermatology clinics. Their skilled staff can accurately evaluate a patient's medical history, skin type, and hair colour to choose the best laser settings for hair removal that are both secure and efficient. By minimizing risks and side effects, this customized approach ensures patient safety and satisfaction.

Region with largest share:

North America commanded the largest market share during the extrapolated period owing to high disposable income, a state-of-the-art healthcare system, and a focus on cosmetic procedures. Laser hair removal has become incredibly popular in North America as a practical and efficient way to get permanent hair reduction. The market is being driven by people's growing awareness of beauty and desire for smooth, hair-free skin. The dominance of the region's market is further strengthened by the existence of well-established market players, technological advancements, and intensive marketing campaigns. With its booming wellness and beauty industry, the country has seen a significant increase in laser hair removal procedures.

Region with highest CAGR:

Asia Pacific is expected to witness profitable growth over the projection period, due to changing lifestyles, and growing awareness about aesthetic procedures. Laser hair removal procedures are becoming increasingly popular in nations like China, Japan, and South Korea. The market for laser hair removal has a lot of potential to grow, especially in China. Laser hair removal procedures are becoming increasingly popular in the country due to its growing middle class, large population, and booming beauty industry. Due to its quick market expansion fueled by the emergence of aesthetic clinics and the accessibility of reasonably priced laser equipment, China is emerging as a significant force in the Asia-Pacific area.

Key players in the market

Some of the key players in the Laser Hair Removal Market include Cynosure Inc., Venus Concept, Solta Medical Inc., Lutronic, LUMENIS, Syneron Media Ltd, Viora, Alma Lasers Ltd, Beijing Sanhe Beauty S&T Co., Ltd., Cutera Inc, Bosley Inc., Sciton, Inc., Fotona, Candela Corporation, Krupa Medi Scan, Venn Healthcare, Lynton Lasers Ltd. and Lira Style.

Key Developments:

In September 2021, Sciton Inc., a prominent manufacturer of medical & aesthetic lasers unveiled BAREit on the new BARE HR platform for faster and more versatile hair removal.

In May 2020, Lira Style launched a laser-powered hair removal medical device called Cervello. This device provides hair removal treatment available for all skin types with a combination of Alexandrite, diode.

Types Covered:
• Alexandrite Laser Hair Removal
• Diode Laser Hair Removal
• Other Types

Genders Covered:
• Female
• Male

Age Groups Covered:
• 13 to 29
• 30 to 54
• 55 to 69

Distribution channels Covered:
• Distributor Sales
• Direct Sales
• E-commerce

End Users Covered:
• Beauty Clinics
• Dermatology Clinics
• Hospitals
• Home Use

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements