The new report by Expert Market Research titled, ‘Global Laser Hair Removal Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global laser hair removal industry statistics, assessing the market based on its segments like type, end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 1063 million
Forecast CAGR (2023-2028): 16.4%
The growing number of FDA-approved laser hair removal machines, which are substantially less expensive than other methods, creates numerous growth potential for the sector.
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Furthermore, the sector is fueled by rising disposable incomes and the industry’s great growth potential in developing countries such as China and India.
Laser Hair Removal Industry Definition and Major Segments
Laser hair removal is a medical procedure that uses a concentrated beam of light to eliminate unwanted hair. During laser hair removal, a laser emits light that is absorbed by the dark pigment called melanin in the hair. The light energy is transformed to heat, which causes damage to the skin’s hair-producing tube-shaped sacs (hair follicles). As a result of the injury, future hair growth is restricted or postponed. Types and end-uses can be used to segment the worldwide laser hair removal market.
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The industry, based on its end-uses, is categorised into:
Beauty Clinics
Dermatology Clinics
Home Use
On the basis of type, the industry is divided into:
Diode laser
Nd: YAG
Alexandrite laser
The major regional markets include:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa
Laser Hair Removal Market Trends
The growing awareness of the safety given by laser hair removal equipment, as well as advancements in technology, such as Quanta Systems’ Thunder MT version’s mixing modalities, are all helping to the industry’s growth. Thunder MT, the most advanced and powerful laser technology available, is also effective for other treatments like blue veins. It allows experts to do facial photo-rejuvenation in just 15 minutes.
The simple availability of laser hair removal services outside of professional settings, such as malls, is likely to propel the market forward. The growth of the industry is being driven by rising disposable incomes and increasing demand for hair removal laser systems. Advanced technology is progressively being used in these instruments to please customers. The ease with which these devices can be accessed is assisting the industry’s expansion. The market is predicted to rise due to the growing popularity of laser hair removal for males. The capacity to undertake cost-effective laser hair removal at home could also help the sector flourish.
Key Market Players
The major players in the market are Solta Medical Inc., Cynosure Inc., Lumenis, Venus Concept, Syneron Medial Ltd., Alma Lasers Ltd, Lutronic Corporation and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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