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.
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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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LASER HAIR REMOVAL MARKET, BY TYPE
CHAPTER 5: LASER HAIR REMOVAL MARKET, BY GENDER
CHAPTER 6: LASER HAIR REMOVAL MARKET, BY AGE GROUP
CHAPTER 7: LASER HAIR REMOVAL MARKET, BY END USER
CHAPTER 8: LASER HAIR REMOVAL MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Laser Hair Removal Market," the laser hair removal market size was valued at $583.99 million in 2021, and is estimated to reach $2.51 billion by 2031, growing at a CAGR of 15.7% from 2022 to 2031.Laser hair removal is a painless procedure that works by penetrating hair follicles with intensely concentrated light. The pigment in the hair shaft absorbs the laser light, heating up the follicle and damaging it to prevent further hair growth. It may require multiple laser hair removal treatments to significantly reduce the amount of hair because laser hair removal only affects hair follicles that are actively growing. Furthermore, even if laser hair removal successfully reduces hair growth, it cannot ensure complete hair removal. There can be a requirement for regular maintenance procedures.
Factors that drive the growth of the laser hair removal market trends include increase in number of laser hair removal procedures, rise in demand for laser hair removal treatment by female population, and increase in number of key players to manufacture advance devices for laser hair removal procedure. Moreover, technological advancement in the field of non-invasive aesthetic procedure is anticipated to propel the laser hair removal market growth. In addition, increase in number of product launches by key manufacturers is anticipated to fuel the growth of market. For instance, in January 2020, Lumenis Ltd, the world’s largest energy-based medical device company for aesthetic applications, announced the launch of LightSheer Quattro hair removal system. This system offers laser hair removal treatment for all skin types as well as treatment of pigmented and vascular lesions. Moreover, laser hair removal is one of the most popular and highly adopted non-surgical aesthetic procedure among all-age groups to enhance their physical appearance. Thus, this factor is anticipated to propel the market growth.
Increase in number of licensed medical centers to conduct laser hair removal treatment fuels the growth of laser hair removal market. The reason behind increase in number of medical centers is increase in number of laser hair removal procedures. Increase in use of alexandrite laser hair removal, and diode laser hair removal technology in clinics and hospitals drives the growth of the market. Moreover, increase in demand for laser hair removal procedure in female population due to facial hair growth anticipated to fuel the market growth. Moreover, rise in self-awareness among young female population regarding the aesthetic appearance and increase in awareness regarding the different facial aesthetic treatments among female population are anticipated to propel the growth of laser hair removal market.
The laser hair removal market is segmented into type, gender, age group, service provider and region. On the basis of type, the market is classified into alexandrite laser hair removal, diode laser hair removal and others. The others include ruby laser hair removal, and Nd:YAG system. The alexandrite laser hair removal segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in use of alexandrite laser hair removal technology in clinics.On the basis of gender, it is classified into male and female. The female segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in demand for aesthetic procedures, rapidly growing emphasis on personal aesthetics among females, and increase in number of female populations conducting laser hair removal procedure.
On the basis of age group, the market is classified into 13 to 29, 30 to 54, and 55 to 69. The 30 to 54 segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in demand for permanent hair removal and rise in awareness among young population to enhance physical appearance.
On the basis of service provider, the market is classified into hospitals, clinic and others. Others segment includes beauty salon and at home. The hospitals segment dominated the market in 2021, and is expected to continue this trend during the forecast period, owing to increase in number of laser hair removal procedure in hospital and rise in number of hospitals to conduct various non-surgical procedures.
North America accounted for a majority of the global laser hair removal market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to rise in number of laser hair removal procedures, increase in number of approvals for laser hair removal products, presence of laser hair removal industry, and advancements in medical aesthetic sector in the region. Asia-Pacific is anticipated to witness lucrative growth, owing to rise in awareness among young population regarding aesthetics appearance, growth in health care expenditures, and rise in adoption of laser hair removal procedure.
Key Findings of the Study
- By type, the alexandrite laser hair removal segment was the highest contributor to the market in 2021.
- By gender, the female segment was the highest contributor to the market in 2021.
- By age group, the 30-54 segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
- By service provider, the hospitals segment dominated the market in 2021, and is expected to continue this trend during the forecast period.
- By region, North America garnered the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 322 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 584 million |
| Forecasted Market Value ( USD | $ 2511.6 million |
| Compound Annual Growth Rate | 15.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
