LONDON, Feb. 20, 2023 /PRNewswire/ -- New insights from Ulike, the leading hair removal brand known for its patented medical grade sapphire ice-cooling technology, finds that both laser and IPL hair removal are becoming trendy methods, with a CAGR of 4.3% in the forecast period.
The reasons are because consumers are thinking highly of skin care, and innovation and technology brings easier, less painful and longer-lasting treatments of removing hair.
Origins of Hair Removal Methods
In the early days, ancient Egyptians used sugar-based waxes, beeswax, pumice stones, and tweezers made from seashells to remove unwanted body hair. While during the Roman Empire, both men and women, began using razors made from flints for hair removal. This was a regular, time-consuming, and often painful way of removing excess unwanted hair.
Moving forward, the first hair removal cream was introduced in the 1800s for a pain-free hair removal experience. The depilatory creams are a pain-free option for at-home hair removal but do not last very long and need to be done on a regular basis for hair-free smooth skin, adding up costs, and taking up precious time.
In the following decade, electric razors, wax strips, and the painful yet permanent electrolysis hair removal method was introduced to reduce hair growth.
Progressing Towards a Painless and Permanent Solution
Recently, however, hair removal technology has progressed even further with the rapid development of laser hair removal methods. When it first originated, it was limited to spas and treatment centers, but with the recent technological advancements, the laser hair removal process has reached households and has become easier to access than ever before.
According to the International Society of Aesthetic Plastic Surgery (ISAPS), an estimated 1,837,052 laser hair removal procedures were performed around the world. Laser is a comparatively painless, and long-lasting if not permanent hair removal treatment, when compared to the traditional methods that include waxing, plucking, and shaving. It is anticipated to fuel the laser hair removal market growth even further.
The research done by Fortune Business Insights indicates that the laser hair removal market size was valued at $4.01 billion in 2019 and is projected to reach $4.94 billion by 2027, with a CAGR of 4.3% in the forecast period.
Making Permanent Hair Removal More Accessible to Households
In recent years, the established skincare and personal cleaning tool brands such as Philips and Braun, as well as the emerging household beauty equipment brands such as Ulike launched their own IPL hair removal devices. The emergence of such devices has made permanent hair removal much more accessible and affordable than ever before.
IPL is the latest advancement in hair-removing technology that works like a laser by using light to heat the hair follicle and reduce hair growth. While both ways are effective, laser treatments are more on the expensive end, whereas, IPL devices can be bought by consumers and used at home for permanent hair removal.
The latest market analysis and insight from Proficient Market Insights shows the IPL hair removal industry's estimated worth to increase with a CAGR of 7.1% from $351 million in 2022 to US$528.6 million by the year, 2028.
Click Laser vs. IPL to learn more about the advantages and disadvantages of Laser and IPL hair removal.
SOURCE Ulike
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