The SNS Insider report estimates the Laser Hair Removal Market size at USD 1.23 billion in 2023, with a projected CAGR of 17.81% to reach USD 5.02 billion by 2032.  

Consumers are giving preference to the minimally-invasive approaches for the cosmetic enhancement. This is due to improvements without the downtime and risks associated with surgery. Faster recovery times allow individuals to return to their daily routines quickly. This reduced the side effects and minimize discomfort and reduced the complications. This increases the patient compliance which rises the demand of laser hair removal.

The advancements in technology makes non-invasive treatments more effective and increase their reach. The progress from the initial lasers to more targeted technologies like Intense Pulsed Light (IPL). It provides large range of treatments and better suitability for different skin types. The modern lasers, like diode and Nd: YAG, achieve superior hair reduction rates compared to earlier technologies. This reduced the treatment sessions and longer lasting results for patients. The advanced cooling technologies reduces the discomfort during procedures like laser hair removal, making the session more tolerable for a larger range of individuals. The rise in consumer demand and technological innovation increases the growth of the laser hair removal market.

The increase in the focus on research and development will identify new non-invasive treatments which rises the large range of cosmetics use. The advancement enables personalization of treatment plans for the individual needs and preferences. The technology progresses improving patient comfort and minimizes the side effects during non-invasive procedures. This growing market give possibilities for both consumers requiring effective and gentle cosmetic solutions and for companies developing and delivering these innovative technologies.

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KEY MARKET SEGMENTATION:

By Type

  • Diode
  • Nd: YAG
  • Alexandrite
  • Others

By End-Use

  • Beauty Clinics
  • Dermatology Clinics
  • Home Use

Segment Analysis

By Type, Nd: YAG  segment held the significant revenue share in the laser hair removal market in 2023, due to the longer wavelength provide an advantage for treating pigmented skin and making it a preferred choice for many patients.

By End-Use, Dermatology Clinics held the significant revenue share in the laser hair removal market in 2023, due to rise in the increasing popularity of these procedures and the rising investment in advanced equipment by these facilities.

Key Players

  • Viora
  • Cynosure
  • Solta Medical Inc.
  • Candela Corporation
  • Lumenis Ltd.
  • Cutera
  • Fotona
  • Venus Concept
  • Alma Lasers
  • Syneron Medical Ltd.

Recent Developments

November 2023, Justera Health Ltd. incorporated the CUTERA XEO laser system. Manufactured by Cutera Face and Body Aesthetic Solutions, the XEO platform represents a significant advancement in non-invasive cosmetic treatments.

 

February 2023, Milan Laser Hair Removal, secured funding. The investment comes from Sixth Street and Wildcat Capital Management, two well-established investment firms.

Regional Analysis

The Asia Pacific region dominated the laser hair removal market with highest market share in 2023. This dominance is due to increasing population concern about hair removal treatments. The factors like rising disposable income, changing lifestyles, and a focus on advanced laser technologies. The increase in concern about hair loss and the new and innovative products further rises the growth of the laser hair removal market in this region.

North America is the second dominated region of the laser hair removal market due to the advancements in aesthetic technology. This development is a more effective hair removal solution. Also, Americans' have high healthcare spending which rises the growth of the market. The Europe region is growing due to supportive government policies and favourable regulatory policies. For instance, European countries, like the UK with its National Health Service, provide laser hair removal services.

Key Takeaways

  • The report clarifies a rising consumer preference for minimally-invasive cosmetic procedures like laser hair removal due to faster recovery times, reduced side effects, and greater convenience compared to surgery.
  • The report emphasizes the role of advanced cooling technologies in reducing discomfort during laser hair removal procedures, making them more tolerable for a wider range of patients.
  • The report highlights the focus on research and development, leading to the identification of new non-invasive treatments and personalized treatment plans based on individual needs.
  • The report highlights Asia Pacific as the dominant region due to factors like rising disposable income, changing lifestyles, and a focus on advanced technologies.
  • North America holds the second position due to advancements in aesthetic technology and high healthcare spending. Europe shows promising growth with supportive government policies, while regions like Latin America and the Middle East & Africa have untapped potential.

 

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Table of Content

Chapter 1 Introduction

Chapter 2 Research Methodology

Chapter 3 Laser Hair Removal Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Laser Hair Removal Market Segmentation, By Type

Chapter 9 Laser Hair Removal Market Segmentation, By End-Use

Chapter 10 Laser Hair Removal Market - Regional Analysis

Chapter 11 Company profile

Chapter 12 Competitive Landscape

Chapter 13 Use Case and Best Practices

Chapter 14 Conclusion

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