Hair Removal Devices Market is Estimated to Witness High Growth Owing to Technological Advancement in Laser, IPL and Light-Based Hair Removal
The hair removal devices market has witnessed significant growth over the past few years owing to the growing prevalence of beauty consciousness and personal grooming practices globally. Various advancements in laser, light-based, and Intense Pulse Light (IPL) technologies that offer quick and long-lasting results have accelerated the adoption of these devices among both men and women. Some of the main advantages of advanced hair removal devices include their portability, affordability, and little to no skin damage. They provide an easy solution to remove unwanted body hair quickly and efficiently at home.
The Global hair removal devices market is estimated to be valued at US$ 4.2 billion in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the hair removal devices market are Panasonic Corporation, Lumenis Ltd, Cynosure Inc., Silk'n, SmoothSkin, TRIA Beauty, Inc., Remington Products Co LLC, and The Procter & Gamble Company.
Some of the key opportunities in the market include increasing demand for at-home hair removal devices and multi-purpose devices. In addition, the rising trend of online purchase of beauty devices is encouraging new entrants.
Technological advancements in IPL and laser Hair Removal Devices Market Demand has made the process more effective and less painful. New features such as different wavelength ranges, pulse durations, and skin-safe technologies provide improved results.
Market Drivers
Small and affordable sizes along with usage of advanced technologies are making hair removal more accessible to the mass market. Growing social acceptance of body hair removal coupled with increasing disposable income in developing nations is a key driver boosting the market growth. In addition, the availability of a wide range of products across different price points catering to both women and men is augmenting the market expansion.
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