The global Laser Hair Removal market size is expected to be worth around US$ 3.01 billion by 2030, according to a new report by Vision Research Reports.
The global Laser Hair Removal market size was valued at US$ 450.84 million in 2020 and is anticipated to grow at a CAGR of 20.10% during forecast period 2021 to 2030.
Increasing demand for non-invasive hair removal procedures is expected to drive the market growth. Technological advancements, such as the introduction of ultra-technology, are also projected to boost the market growth.
The ultra-technology is more secure than earlier techniques and the prevalence of side-effects, such as burning sensations and temporary rashes on the skin, can be easily healed with topical applications. Asia Pacific is anticipated to register the fastest CAGR during the forecast period owing to the high prevalence of skin disorders in the emerging economies and the rise in disposable income of consumers. Moreover, growing e-commerce penetration is driving the market due to easy availability of advanced products.
The Covid-19 pandemic has created several challenges for the aesthetics industry. Initially, most of the clinics had halted their services with only emergency procedures to be performed. This has impacted the market growth. However, recently, due to ease of lockdown restrictions, services have resumed in a staggered manner with strict measures to be followed. This will boost the market growth.
The diode segment held the maximum share of over 39% of the laser hair removal market in 2020 owing to the high precision offered by these products. Diode lasers can selectively target a particular body part and effectively remove the hair without harming the surrounding skin of the area. Moreover, the reasonable time required for removing hair according to the body area and volume of hair is augmenting the product demand.
These lasers are most effective for the dark terminal hair and are comparatively less effective on lighter. However, efforts are being taken by the manufactures for a similar effect on light terminal hair as well. They cover larger areas of the body and have fast repetition rates. Intense Pulsed Light (IPL) is a laser equivalent as it also uses selective photothermolysis for the removal of hair. However, these devices could not gain much popularity owing to complexity in use and lack of skilled professionals for operating the equipment.
The beauty clinics segment held the highest market share of more than 53% in 2020 and is also anticipated to register the fastest CAGR over the forecast period. This growth can be attributed to quick adoption and wide usage of technologically advanced products in beauty clinics.
In addition, the high demand for non-invasive hair removal treatments is propelling the segment growth. Unlike traditional methods, such as waxing and hair plucking, laser treatments are painless. Hence, the increased popularity of the targeted treatment is influencing the segment growth. The dermatology clinics segment is expected to grow at a steady pace owing to the increased safety and efficiency of the treatments offered by dermatologists.
Beauty centers are increasingly adopting FDA-approved laser hair removal devices due to the growing demand for painless hair removal procedures. This treatment is effective with the integration of advanced technologies. Some of the patients might require topical anesthesia while operating in sensitive areas. Some of the common side-effects of getting treated by lasers are red and swollen skin, which may seem like sunburn. However, these side-effects do not last longer than a few hours, giving a permanent solution.
North America led the market in 2020 with a market share of over 34% owing to an increase in demand for hair removal procedures, the presence of well-established dermatology clinics, and the availability of skilled professionals in the region. Professionals in North America widely used aesthetic lasers for various purposes.
Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the growing incidences of skin damage and increasing population, especially in China and India. In addition, changing lifestyles, rising consumer disposable income levels, and the rapidly expanding medical tourism sector in the emerging economies of Asia Pacific are supporting the market growth.
Syneron Medical Ltd.
Alma Lasers, Ltd.
Lynton Lasers Ltd.
Solta Medical, Inc.
Strata Skin Sciences, Inc.
Venus Concept Canada Corp.
Laser Type Outlook
Middle East & Africa
The Laser Hair Removal market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Laser Hair Removal market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Laser Hair Removal market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Laser Hair Removal market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Laser Hair Removal market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Laser Hair Removal capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Laser Hair Removal by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Laser Hair Removal market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Laser Hair Removal market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Laser Hair Removal market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Laser Hair Removal industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Laser Hair Removal market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Laser Hair Removal market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Laser Hair Removal market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Laser Hair Removal market. These factors have benefited the growth of the global market for Laser Hair Removal. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Laser Hair Removal. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Laser Hair Removal are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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