the Hair removal market has been valued to US$1.78 billion in 2021 and is expected to reach US$4.01 billion by 2028, growing at a CAGR of 12.3% from 2022 to 2028.
Hair removal is nothing but the removal of unwanted hair from the body. Hair removal procedure is also called Epilation; hair growth is high and more noticeable after puberty, men have more problems with hair growth but women are the biggest users of hair removal products. Hair is removed for various reasons such as fashion, hygiene, cultural traditions, military service, athletics and others. Waxing, shaving and hair removal are some of the traditional techniques used by people.
Growing interest in personal care is one of the major factors responsible for the increasing growth of the market. Body hair is removed using different types of tools as per preference, there are advancements in hair removal techniques like laser treatment and external light treatment which is a convenient method for hair removal which does not damage the body part, root hair and it does not cause pain.
Main key players for Hair removal market:
- Solta Medical
- Strata Skin Sciences
- Syneron Candela
- Lutronic Aesthetics
- Laser Lynton
- Alma’s Lasers
- Venus concept
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Market Dynamics and Drivers:
People are more conscious about their appearance, appearance and personal care, per capita income is increased in many developed and developing countries, which is why people spend more on personal care products like hair removal cream , treatments that help increase market growth. Key companies and manufacturers working in this industry are bringing in new easy-to-use solutions for better results that are helping to increase the demand for hair removal products.
The target market for this product is huge, people in developing countries like rural side areas are the main segment targeted for hair removal products by major industry players. People prefer advanced hair removal techniques by professionals like laser treatment which is more expensive but not harsh on the skin and painless technique because people go for this treatment and are willing to pay more for a self-care product driving the growth of the hair removal market in the coming year.
Hair Removal Market Report Highlights:
- Hair Removal Market Energy-based devices are expected to have the maximum market share during the projected period. This device uses different wavelengths of light to deliver lasers.
- Dermatology clinics are expected to dominate the hair removal market share over the forecast period. Dermatology clinics offer professional services that build people’s confidence, which helps increase the demand for hair removal products.
- By region, Asia-Pacific is expected to grab the maximum market share for hair removal products and treatments over the projected period. There is huge competition in the hair removal market, so major companies are focusing on rural areas in developing countries to reach more customers, which ultimately increases sales and boosts the hair removal market .
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Industry key development:
- In May 2020, Lira Style, a US-based medical device company, launched a product on “Cervello”, a new aesthetic platform. The platform has the devices that enable clinically proven laser hair removal treatment on all skin types, combining 755 Alexandrite, 808 diodes, 1064 long pulses and YAG.
- In July 2020, Lesar MD Medspa is a brand that worked specifically in hair removal services is acquired by Potomac Equity Partner. This acquisition is expected to bring new changes in services and help drive Lesar MD Medspa’s growth in the hair removal market.
Hair removal market Segmentation:
- Energy based devices
- Laser-based devices
- IPL devices
- Dermatology clinics
- Beauty clinics
For this report, Introspective Market Research has segmented the hair removal market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
The report encompasses all of the market size analysis in previous years for major segments and countries, along with future estimates. The Hair Removal Market study takes an in-depth look at the competitive landscape of the global market. The study also provides the names of the major market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics, and drivers, as well as market analysis techniques such as PESTEL analysis, PORTER’s five forces analysis, value chain analysis, SWOT analysis, BCG matrix and Ansoff matrix.
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