laser hair removal market
The global laser hair removal market was valued at USD 694.5 million in 2022 and is projected to grow significantly at a rapid compound annual growth rate (CAGR) of 16.1% during the forecast period. This growth is being driven by increased awareness of the benefits of laser hair removal, increased use before surgery, and continued advances in laser technology.
market drivers
Laser hair removal has become a popular method to address hair loss problems through both surgical and non-surgical approaches. Innovations in medical technology are transforming the cosmetics industry, especially with the integration of lasers for hair removal. These methods provide a long-term solution to unwanted hair, which is highly sought after in the beauty and health field.
As a result, there is a growing demand for qualified dermatologists who can recommend effective and safe hair removal methods. Dermatologist-recommended treatments such as microdermabrasion are becoming increasingly popular due to their effectiveness, especially when compared to over-the-counter products.
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Additionally, research and development in the use of lasers for therapeutic purposes, coupled with the prevalence of aesthetic concerns, is contributing to the growth of the market. For example, in 2020, the American Society of Plastic Surgeons (ASPS) reported that more than 10.4 million minimally invasive surgeries, including facial procedures, were performed among U.S. women. Demand for laser hair removal is expected to continue to grow as minimally invasive treatment by highly qualified professionals becomes more accessible.
market constraints
Despite growing, the laser hair removal market faces challenges from alternative hair removal methods such as shaving, waxing, and hair removal creams. These traditional methods are more affordable and provide immediate results, making them appealing to cost-conscious consumers.
Additionally, the discomfort and pain associated with laser hair removal, as well as the need for multiple sessions, may deter some people from choosing this option. Lack of awareness about the long-term benefits of laser hair removal compared to traditional methods also limits its widespread adoption.
Insights on the Laser Hair Removal Market
Insights on laser types
Diode lasers lead the market: Diode lasers are the most popular type of laser used for hair removal and will hold the largest market share in 2022. These lasers are preferred for their safety, effectiveness, and ability to target specific body areas without damaging the surrounding skin. Diode lasers provide fast and efficient hair removal, making them suitable for treating large areas such as the back and legs. Its versatility for different skin types and advanced cooling mechanism for added comfort further fueled its demand.
Lasers with stable growth: ND lasers are expected to have stable growth, especially for people with darker skin. These lasers operate at long wavelengths and provide safe and effective hair removal for people with dark pigmentation.
Insights on gender
Female segment dominates: Women are the main users of laser hair removal, driven by the desire for improved appearance and long-lasting results. Laser hair removal can smooth the skin and reduce the occurrence of ingrown hairs, making it an attractive option for many women. Additionally, the time-saving benefits of this procedure make it appealing to women with busy lifestyles.
End-use insights
Increase in aesthetic clinics: Cosmetic clinics are expected to see moderate growth due to their expertise in laser hair removal and comprehensive service offerings. These clinics are staffed by trained professionals who can provide personalized treatment and access to advanced laser technology, making them a popular choice for patients seeking specialized care.
The laser hair removal market is expected to grow rapidly in the coming years due to technological advances, rising awareness, and demand for long-term hair removal solutions. However, competition from traditional hair removal methods and consumer concerns about pain and cost may pose challenges.
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Top laser hair removal companies and competitive environment
The global laser hair removal market is highly fragmented, with many large and medium-sized players accounting for the bulk of the market revenue. Leading companies are deploying a variety of strategies, entering into mergers and acquisitions, strategic agreements and contracts, and developing, testing, and implementing more effective laser hair removal solutions.
The key companies included in the global Laser Hair Removal market report are:
alma laser
Candela Co., Ltd.
Cutella
Cynosure Co., Ltd.
Lumenis B Co., Ltd.
lutronic
Merz Pharma
Seton
Shanghai Fosun Pharmaceutical Group Co., Ltd.
skin md
Sorta Medical Co., Ltd.
Syneron Medical Co., Ltd.
venus concept
viola
procter and gamble
Urique
laser clinic
Cartesia
tria beauty
Linton Lasers Co., Ltd.
Latest information in the laser hair removal industry
On October 21, 2021, LaserAway, a leading provider of cosmetic dermatology, announced a strategic investment by funds managed by Ares Management Corporation’s private equity group. This partnership supports LaserAway’s continued growth nationally, increases customer loyalty through the newly introduced benefits program LaserLove, and facilitates the development of exclusive skin care products under the LA Beauty brand .
On June 1, 2020, Cynosure announced the Elite iQ platform, the latest version of the Elite Aesthetic Workstation, in the United States, Europe, and Australia. This advanced platform allows for faster treatment at higher maximum energy levels compared to previous platforms. The Elite iQ platform delivers customized laser hair removal treatments powered by Skintel, recognized as the aesthetic industry’s only live melanin leader. This technology guarantees permanent hair removal for all skin types and extends coverage to different body areas such as face, back, chest, arms, armpits, bikini area, and legs.
Laser hair removal market segmentation analysis
For the purpose of this report, Emergen Research has segmented the global laser hair removal market on the basis of laser type, gender, end-use, and region.
Laser Type Outlook (Revenue, USD Million; 2019-2032)
diode
Nd:YAG
Alexandrite Others
Gender Outlook (Revenue, USD million; 2019-2032)
man
woman
End-use outlook (Revenue, USD million; 2019-2032)
beauty clinic
dermatology clinic
household use
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Regional Outlook (Revenue, USD Million, 2019-2032)
North America
us
Canada
Mexico
Europe
Germany
France
England
Italy
Spain
Benelux three countries
rest of europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
latin america
Brazil
Rest of Latin America
middle east and africa
Saudi Arabia
united arab emirates
South Africa
turkey
rest of the middle east and africa
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