Laser hair removal market size [2022-2028] worth $1,378.4 million

Fortune Business Insights

The major key players covered in the Laser Hair Removal market research report are CANDELA CORPORATION (Massachusetts US), Lynton Lasers Ltd (UK), Alma Lasers (Israel), Fotona (Texas US), Venus Concept (Toronto Canada), Venn Healthcare (UK). ), Sciton Inc. (California, USA), Lumenis Ltd. (Israel), Cynosure (Massachusetts USA), Cutera (California, USA)

Pune, India, March 02, 2022 (GLOBE NEWSWIRE) — The world laser hair removal market The size is expected to reach USD 1,378.4 million by 2027, showing a CAGR of 15.2% during the forecast period. Wide availability of advanced hair removal technologies will be one of the major growth drivers for this market, says Fortune Business Insights™ in its report, titled “Laser Hair Removal Market Size, Share and COVID Impact Analysis -19, by Product (Diode, Alexandrite, Nd:YAG and Others), by End User (Hospitals, Medical Spas and Specialty Clinics and Others) and Regional Forecast, 2020-2027”. Laser hair removal treatments are gaining popularity due to their proven effectiveness in preventing hair growth. To capture this trend, many companies have developed a portfolio of new hair removal systems based on laser technology. For example, Nordlys, a hair removal machine from Ellipse uses both laser (Frax 1550 and Nd: YAG 1064) and Selective Waveband technology to perform hair removal procedures. Likewise, Advanced Esthetics Solutions’ Thunder MT system incorporates Nd:YAG and Alexandrite lasers, allowing the machine to perform a wide range of hair treatments. Thus, the increasing availability of these innovative hair technologies will illuminate the prospects of this market in the coming years.

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Industry developments:

May 2020: The American medical device company, Lira Style, has launched its new aesthetic platform called “Cervello”. The platform is essentially a device for clinically proven laser hair removal procedures on all skin types, combining 1064 long pulse YAG, 808 diode and 755 Alexandrite.

January 2019: Alma Lasers announced the worldwide launch of Soprano Titanium, its new laser hair removal system. It combines the company’s four proprietary technologies: 3D, simultaneous laser in three wavelengths; Quattro, an extra large spot size; ICE Plus, advanced cooling system; and Smart Clinic, a cloud-based business development platform.

Report scope and segmentation

Report cover

Details

Forecast period

2021 to 2028

Forecast Period 2021 to 2028 CAGR

16.7%

2028 value projection

$1619.7 million

Year of reference

2020

Market size in 2020

$483.0 million

Historical data for

2017 to 2019

Number of pages

98

Segments Covered

Product, end user

Growth engines

Increase non-invasive treatment options to fuel product demand

Technological advancements in products propel the growth of the market

High cost associated with devices to limit adoption

According to the report, the global market was valued at USD 551.4 million in 2019. Other highlights of the report include:

  • Targeted analysis of the impact of COVID-19 on the market;

  • Detailed study of the factors, trends and restraints shaping the market;

  • Careful assessment of regional dynamics influencing the market; and

  • In-depth profiling and review of key market players and their strategies.

COVID regulations to halt market progression

To contain the spread of the coronavirus, countries around the world have implemented strict measures in the form of confinement and social distancing. With medical professionals focusing on treating patients with COVID-19, resources have been diverted from elective procedures. This spelled the end of the aesthetics industry and the growth of the laser hair removal market, as most procedures and treatments in this field are non-essential. Additionally, the fear of being infected has deterred people from visiting clinics and other healthcare facilities, reducing the demand for hair removal and other cosmetic procedures. Now, many governments are now allowing a partial resumption of services. However, companies are required to follow strict guidelines and many of them are following them, keeping in mind the safety of their customers as well as their employees. For example, the Skin & Laser Surgery Center, based in New England, has announced that it will implement recommendations issued by the Centers for Disease Control and Prevention (CDC) and the Occupational Safety and Health Administration (OSHA) in part of their list of “universal precautions”. .

Click here for the short and long term impact of COVID-19 on this market.

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Increased purchasing power in India and China to feed the Asia-Pacific market

Asia-Pacific, where the market size stood at USD 209.7 million in 2019, is expected to dominate the growth of the laser hair removal market during the forecast period owing to the increase in revenue available and purchasing power in the rapidly developing economies of India and China. Increasing accessibility of advanced hair removal treatments is another factor expected to propel the market in this region.

In North America, the market will be mainly driven by the enthusiastic adoption of modern aesthetic technologies in the region. This has been made possible by the high spending capacity of the people in the area as well as a strong presence of specialized hair treatment clinics in the area. On the other hand, Europe is expected to maintain a leading position in the market as reimbursement policies for non-essential procedures are extremely strong in the region.

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Product innovations to attract the attention of key players

Competition in this market is tight as leading companies focus on designing and developing innovative products to attract customers. These players are also taking demanding measures to sustain their activity during the health crisis created by the coronavirus.

List of Companies Featured in this Market Report:

  • CANDELA CORPORATION (Massachusetts, USA)

  • Lynton Lasers Ltd (UK)

  • Alma Lasers (Israel)

  • Fotona (Texas, USA)

  • Venus Concept (Toronto, Canada)

  • Venn Healthcare (UK)

  • Sciton, Inc. (California, USA)

  • Lumenis Ltd. (Israel)

  • Cynosure (Massachusetts, USA)

  • Cutera (California, USA)

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Contents :

  • introduction

  • Abstract

  • Market dynamics

    • Market factors

    • Market constraints

    • Market opportunities

  • key ideas

    • Overview: Impact of COVID-19 on laser hair removal

    • Launch of new product

    • Overview of the regulatory scenario

    • Key Industry Developments – Mergers, Acquisitions and Partnerships

  • Global Laser Hair Removal Market Analysis, Outlook and Forecast, 2016-2027

    • Main results/summary

    • Market Analysis, Outlook and Forecasts By product

      • Diode

      • Alexandrite

      • SD: YAG

      • Others

    • Market Analysis, Outlook and Forecasts Per end user

    • Market Analysis, Outlook and Forecasts By geography

      • North America

      • Europe

      • Asia Pacific

      • Latin America

      • Middle East and Africa

  • North America Laser Hair Removal Market Analysis, Outlook and Forecast, 2016-2027

    • Main results/summary

    • Market Analysis, Outlook and Forecasts By product

      • Diode

      • Alexandrite

      • SD: YAG

      • Others

    • Market Analysis, Outlook and Forecasts Per end user

    • Market Analysis, Outlook and Forecasts By country

  • Europe Laser Hair Removal Market Analysis, Outlook and Forecast, 2016-2027

    • Main results/summary

    • Market Analysis, Outlook and Forecasts By product

      • Diode

      • Alexandrite

      • SD: YAG

      • Others

    • Market Analysis, Outlook and Forecasts Per end user

    • Market Analysis, Outlook and Forecasts By country/sub-region

      • UK

      • Germany

      • France

      • Spain

      • Italy

      • Scandinavia

      • The rest of Europe

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