Request a Free Sample to learn more about this report
global IPL hair removal device and system market size was USD 325.6 million in 2021 and projected to touch USD 695.48 million by 2032 at a CAGR of 7.1% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, with the IPL hair removal device and system market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Intense pulsed light (IPL) is a technology used by medical and clinical professionals to perform a variety of skin treatments for both cosmetic and therapeutic purposes, including hair removal, light exfoliation (for example, treatment of skin pigmentation, sun damage and varicose veins) and reduction of dermatological infections such as dermatitis. IPL can reduce hair growth most effectively on coarser and more discolored hair. Beat-light drugs are known by several names and devices, including E-Light, ELOS and M-Light. IPL should not be confused with hair removal, which is a different method that uses sensible monochromatic laser light.
Market growth is driven by increasing demand for home IPL hair removal systems and increasing awareness of the benefits of IPL hair removal systems over traditional methods such as shaving and waxing. The $201-$400 segment is expected to account for the largest share of the global market in 2018 due to its affordability and growing consumer demand across regions.
COVID-19 Impact: COVID-19 Outbreak Imposed Restrictions On Market Growth
The spread of COVID-19 has affected people and businesses around the world. Lockdowns were imposed around the world. When the restrictions were imposed, beauty clinics were closed and visit to dermatologists for hair treatment were limited. This made the epilator business difficult as people preferred other removal methods such as razors and creams. Consequently, the global hair removal market grew slowly during the pandemic. The outbreak of COVID-19 is expected to adversely affect the growth of the global hair removal market. Several clinics and hospitals have been rebuilt to increase hospital capacity for patients diagnosed with COVID-19. Non-essential surgical procedures have been canceled due to the pandemic. IPL hair removal procedures are non-emergency aesthetic procedures that have greatly hindered the revenue of aesthetic businesses. Furthermore, a sudden sharp drop in the monthly income of residents is expected to adversely affect the hair removal market.
Latest Trends
"Laser Equipment Segment Is Expected To Grow Significantly During The Forecast Period"
Using an aesthetic device lasers help remove unwanted hair from all parts of the body. The advantages of laser devices, which have gained popularity in recent years, are the precision, speed and predictability of hair removal. Also, an August 2021 article in the National Library of Medicine noted that there are various devices available that are known to be the most effective options for long-term hair reduction. Therefore, due to the advantages offered by hair devices, the adoption of these products among the target audience is increasing, ultimately leading to the growth of the segment. The home use segment dominated the market in 2017 and is expected to maintain its leading position during the forecast period. This is due to the growing consumer awareness of IPL removal systems, especially in developed countries such as the US, Canada, UK, Germany and France, where beauty salons are not as common as in other parts of the world. Additionally, rising disposable incomes have allowed consumers to spend more on personal care products that improve their appearance without having to go to expensive salons or spas.
IPL hair removal device and system market Segmentation
Request a Free Sample to learn more about this report
- By Type Analysis
According to type, the market can be segmented into 201-400 USD, 100-200 USD, <100 USD, >400 USD.
201-400 USD is anticipated to be the leading segment.
- By Application Analysis
Based on application, the market can be divided into At-Home Use, Salon and Clinics.
At-Home Use will be dominating segment.
Driving Factors
"Increased Demand For Beautification Removal Equipment to Fuel The Market Growth"
Growing demand for laser hair removal devices, especially among women, is driving the IPL hair removal device and system market growth. True genius technology is widely used in hair removal devices. More and more FDA-approved products are being introduced into the market as their demand is influencing the market growth. Some products are approved by the FDA for their safety, effectiveness and convenience in the user's home. In addition, these products are used by both sexes. Therefore, this factor accelerates the growth of the market.
"Technology Development of Major Market Players to Fuel The Market Growth "
Technological advancements in aesthetic lasers are fueling the market. For example, the mixing of categories created by Quanta Systems in the Thunder MT system is one of the most recent innovations observed. This technique is also very effective for other treatments such as blue veins that cannot be treated with Nd, YAG alone. Thus, these devices will boost the growth of the market. For example, laser technologies have been continuously improved, increasing their efficiency and cost-effectiveness. Thus, the benefits of using technologically advanced products encourage people to use these tools. However, the high price of products is expected to be an obstacle for residents of developing regions. For example, a leg waxing treatment costs around $800/time. This factor affects their purchasing power, causing slow growth in developing regions.
Restraining Factor
"Rising Prices to Hinder Market Growth"
Rising prices of hair removal devices are restraining the growth of the global hair removal devices market. IPL hair removal devices are popular in hair removal procedures because they have great advantages such as removing ingrown hairs and saving time because the treatment does not take long. However, the price of hair removal machines is high and the maintenance costs of these devices are also high. The material used for hair removal is also very expensive. Due to all these reasons, hair removal is becoming expensive, which is expected to adversely affect the market growth.
IPL hair removal device and system market Regional Insights
Request a Free Sample to learn more about this report
"North America to Dominate Market Due To Increasing Demand For Aesthetic Procedures"
North America dominated the global IPL hair removal device and system market share and is expected to maintain its position during the forecast period. This growth is attributed to increasing demand for aesthetic procedures, proliferation of IPL removal systems, and high disposable income of consumers in this region. Latin America is expected to be the fastest growing market during the forecast period due to increasing demand for beauty products and services, rising disposable incomes and changing consumer preferences.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. Key industry players in the antacid tablet market have a significant impact on market dynamics. These companies are at the forefront of research and development, consistently introducing innovative formulations and product variations. Their focus on convenience and effectiveness sets industry standards and influences market growth.
LIST OF TOP IPL HAIR REMOVAL DEVICE AND SYSTEM COMPANIES
- Philips (Netherlands)
- Panasonic (Japan)
- Braun (Germany)
- Silk’n (Netherlands)
- CosBeauty (Japan)
- Ya-Man (Japan)
- Iluminage Beauty (U.S.)
- SmoothSkin (Cyden) (U.K.)
- Remington (U.S.)
Report Coverage
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
