LOS ANGELES, Nov. 07, 2022 (GLOBE NEWSWIRE) — The Global hair removal devices market The size accounted for USD 1,198.6 million in 2021 and is expected to reach a market size of USD 2,839.9 million by 2030, growing at a CAGR of 10.1% from 2022 to 2030.
Hair removal devices market statistics
- The global market value of hair removal devices was USD 1,198.6 million in 2021 and is expected to grow at a CAGR of 10.1% from 2022 to 2030
- North America hair removal devices market revenue took 36% market share in 2021
- According to statistics from the American Society for Aesthetic Plastic Surgery, more than 1.1 million waxings were performed in 2019
- Asia-Pacific Hair Removal Devices Market Growth to Register Significant CAGR from 2022 to 2030
- Among the products, the laser segment acquired more than 46% of the overall market share in 2021
- Based on end users, beauty clinics garnered more than 50% share in 2021
- Growing preference for minimally invasive procedures is a global hair removal device market trend that is fueling industry demand
Hair Removal Devices Market Growth Factors
- Growing awareness of grooming among people
- Increase in demand for minimally invasive surgeries
- Growing recognition of beauty clinics and dermatology clinics
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Hair Removal Devices Market Report Coverage:
|Market||hair removal devices market|
|hair removal devices market Size 2021||$1,198.6 million|
|hair removal devices market Forecast 2030||$2,839.9 million|
|hair removal devices market CAGR from 2022 to 2030||10.1%|
|hair removal devices market Analysis period||2018 – 2030|
|hair removal devices market base year||2021|
|hair removal devices market Forecast data||2022 – 2030|
|Segments Covered||By product, by end user and by geographical area|
|hair removal devices market Regional scope||North America, Europe, Asia-Pacific, Latin America, Middle East and Africa|
|Profiled Key Companies||Sciton, Inc., Solta Medical, Inc., Cynosure, Inc., Syneron Medical Ltd., Lumenis, Alma Lasers, Venus Concept Canada Corp., Viora, Lutronic and Cutera.|
|Report cover||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis|
Hair removal devices market dynamics
There is a high demand for non-invasive hair removal methods such as laser treatment due to its advantages such as precision and saving time and money in the long run. Most hair removal devices can be used at home, contributing to the high demand for non-invasive personal grooming techniques.
The availability of technologically advanced products has also had a positive impact on the advancement of the hair removal devices market. Extremely long wavelengths of light are emitted by new laser devices, allowing them to focus only on the melanin present in the hair follicles. This eliminates the possibility of skin burns. All these factors are expected to drive the growth of the hair removal devices market over the forecast period.
The increasing availability of technologically advanced products is expected to increase their efficiency and hence demand in the near future. Constant advances in laser methods, for example, have increased their efficiency and cost-effectiveness. The number of side effects and efforts to decrease the pain associated with hair removal are on the rise. Device manufacturers’ focus on emerging products that relieve hair growth for a longer period of time. For example, the use of dermal cooling technology in laser treatment reduces the likelihood of side effects. These advancements, combined with consumer awareness, are expected to boost the hair removal devices market.
Consumers are increasingly aware of the benefits of technologically advanced products, which encourages them to accept them. However, the high cost of laser devices is expected to hamper the acceptance of these devices, especially in emerging markets. This factor has an impact on the purchasing power of consumers, leading to slow growth in these regions.
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Hair removal devices market segmentation
The global hair removal devices market is segmented into product, end-user, and region. On the basis of product, the global hair removal devices market is segmented into laser, intense pulsed light and other energy-based. The laser sub-segment is further divided into diode laser, ND:YAG laser, and alexandrite laser. On the basis of end-user, the global hair removal devices market is segmented into beauty clinics, dermatology clinics and home use. Based on region, the global hair removal devices market is segmented into Latin America, Europe, Asia-Pacific, North America, and Middle East & Africa.
Hair removal devices market share
On the basis of end-user, beauty clinics capture the maximum share in 2021 due to growing consumer inclination. Also, increasing visits to beauty clinics to broaden their aesthetic appeal can boost development. Furthermore, the development in the number of beauty clinics in emerging and emerging countries is expected to increase the need in the near future.
Hair removal devices market regional growth
North America will be the dominant region in 2021 due to the availability of technologically advanced products and a high level of physical awareness. The increased use of laser hair removal devices in the United States for fast and effective results is one of the major contributing factors to the country’s dominance. The growing popularity of hair removal treatments, along with the availability of qualified dermatologists in European countries, is expected to drive regional demand. APAC is expected to grow significantly over the forecast period due to increasing disposable income and demand for low cost hair removal devices. Rising beauty awareness in emerging markets is also expected to lead to development opportunities in underserved APAC markets.
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Hair removal devices market players
To increase their revenue share, companies in the market are focusing on implementing new strategies such as regional expansion, new product launches, partnerships, mergers and acquisitions, and distribution agreements. Rising R&D investments, combined with advancements in technology to bring highly efficient products to market, are also expected to provide significant growth opportunities for industry players. Sciton, Inc., Solta Medical, Inc., Cynosure, Inc., Syneron Medical Ltd., Lumenis, Alma Lasers, Venus Concept Canada Corp., Viora, Lutronic, and Cutera are some of the leading companies in the medical device market. hair removal. . Partnerships, new product launches and acquisitions are examples of important strategic projects undertaken by global companies.
Questions this report answers
- What was the market size of Hair Removal Devices Market in 2021?
- What will be the CAGR of the hair removal devices market during the forecast period, 2022 to 2030?
- Who are the key players in the global Hair Removal Device market?
- Which region held the largest Hair Removal Device market share in 2021?
- What are the key market drivers of Hair Removal Device Market?
- What is the largest end-user hair removal device market?
- What will be the value of the hair removal devices market in 2030?
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Mr. Richard Johnson
Acumen Research and Consulting
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