Global Laser Hair Removal Market – Industry Trends and Forecast to 2030

Global Laser Hair Removal Market, By Laser Type (Diode Laser, Nd: YAG Laser, Alexandrite Laser), Type (Multiple Standard Wavelengths, Specific Standard Wavelengths), Gender (Male, Female), Age Group (13-29, 30-54, 55-69), End-Use (Beauty Clinics, Dermatology Clinics, Hospitals, Home Use) – Industry Trends and Forecast to 2030.

Laser Hair Removal Market Analysis and Size

The shifting trend toward maintaining optimal aesthetic beauty is one of the main factors enhancing the market. Mixing modalities are gaining much popularity with great results in just one treatment. It enables specialists to control photo-rejuvenation facials in only 15 minutes. It has been witnessed that the Nd: YAG laser type segment in the U.S. is anticipated to expand at a revenue share of 18.6% during the forecast period.  

Data Bridge Market Research analyses that the laser hair removal market, which was USD 949.53 million in 2022, would rise to USD 3,792.85 million by 2030 and is expected to undergo a CAGR of 18.90% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Laser Hair Removal Market Scope and Segmentation

Market Definition

Laser hair removal is the process of eliminating unwanted hair from the body of an individual by exposing it to laser light. The laser machine or equipment exposes a patient's body area to laser light wherever required. It also eliminates any hair follicle from that specific area. Hair color and skin type stimulate the success of laser hair removal. The main principle behind the conduction process is that the hair's pigment, but not the skin's pigment, should absorb the light.

Global Laser Hair Removal Market Dynamics

Drivers

• Increasing Technological Advancements by Major Market Players

Increasing technological advancements in aesthetic lasers are boosting the market's growth on a wide scale. For instance, the mixing of modalities, founded by Quanta Systems in the Thunder MT system, is one of the latest innovations observed. This technology is also highly effective for other treatments, such as blue veins, which cannot be treated with Nd: YAG solely. Thus, these devices are boosting the market's growth. 

• Higher Demand for Hair Removal Devices for Beautification

Growing demand for laser hair removal devices, particularly by women, drives the market growth. Real genie technology is widely used in laser hair removal devices. A growing number of FDA-approved products are launched due to their demand impacting the market growth. Products such as Remington IPL6000 I-Light Pro, Veet Infini'Silk Pro, and Silk'n Flash&Go are approved by the FDA due to their safety, efficacy, and comfort to users' homes. Furthermore, these products are used by both genders. Thus, this factor will boost market growth.

Opportunities

• Increasing Adoption of Diode Lasers

Diode lasers can majorly target a particular body part and effectively eradicate the hair without harming the associated skin of the area. Furthermore, the short time required for removing hair according to the body area and volume of hair enhances the product demand. These lasers are highly effective for dark terminal hair and are relatively less effective on skin with a lighter complexion. Thus, this factor increases the market growth.

• Increasing Product Launches Associated with Laser Diodes

There has been a higher rate of product launches by organizations boosting the market growth. For instance, Cynosure announced the U.S., European and Australian launch of the Elite iQ™ platform in 2020. The next generation of the Elite iQ Aesthetic Workstation provides customized laser hair removal treatment and enables faster treatments with higher max energy compared to previous generation devices. Thus, this factor boosts market growth.

Restraints/Challenges

• Possibility of Reoccurrence of Hair

Even though laser hair removal efficiently delays hair growth for long periods, it generally doesn't result in permanent removal. Multiple laser hair removal treatments are necessary for initial hair removal, and maintenance for the same is also be needed for a long time. Thus, this factor limits the market growth.

• Complications Associated with Laser Diodes

Several patients suffer from many complications, such as redness, erythema, skin irritation, postoperative hypersensitivity, and possible burns in blisters and scabs. It is also possible to experience pigmentary changes such as hyperpigmentation. Thus, these complexities hamper market growth.

This laser hair removal market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the laser hair removal market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In 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, or Nd: YAG

Global Laser Hair Removal Market Scope

The laser hair removal market is segmented on the basis of laser type, frequency type, gender, age group and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Laser Type

• Diode
• Nd: YAG
• Alexandrite

Frequency Type

• Multiple Standard Wavelengths
• Specific Standard Wavelengths

Gender

• Male
• Female

Age Group

• 13-29
• 30-54
• 55-69

End Use

• Beauty Clinics
• Dermatology Clinics
• Hospitals
• Home Use

Laser Hair Removal Market Regional Analysis/Insights

The laser hair removal market is analyzed and market size insights and trends are provided by laser type, frequency type, gender, age group and end-user as referenced above.

The countries covered in the laser hair removal market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the laser hair removal market because of the increase in demand for hair removal processes and renowned dermatology clinics within the region. Furthermore, the presence of a huge number of market players in the region is anticipated to be one of the primary factors boosting the market growth in the region.

Asia-Pacific is expected to witness significant growth due to the growing population and increasing occurrences of skin damage, especially in China and India. In addition, changing lifestyles, the increasing spending power of consumers, and rising medical tourism in the developing economies of Asia-Pacific are boosting the market growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The laser hair removal market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for laser hair removal market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the laser hair removal market. The data is available for historic period 2011-2021.

Competitive Landscape and Laser Hair Removal Market Share Analysis

The laser hair removal market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to laser hair removal market.

Some of the major players operating in the laser hair removal market are:

• Solta Medical (U.S.)
• Cynosure Inc. (U.S.)
• Lumenis, LUTRONIC (U.S.)
• Merz Pharma (Germany)
• Sciton (U.S.)
• Candela Corporation (U.S.)
• Venus Concept (Canada)
• Candela Corporation (U.S.)
• Alma Lasers (Israel)
• Shanghai Fosun Pharmaceutical（Group）Co., Ltd (China)
• Cutera (U.S.)
• SkinMD (U.S.)