Laser Hair Removal Market Size Worth USD 3,131.7 Million in 2032 | Emergen Research

The global laser hair removal market size was USD 694.5 million in 2022 and is expected to register a rapid revenue CAGR of 16.1% during the forecast period. The global laser hair removal market is witnessing significant growth, driven by rising awareness of its benefits, advancements in laser technology, and its integration into cosmetic and surgical procedures. According to recent market research, key factors such as increasing demand for long-term solutions, rising aesthetic concerns, and advancements in medical technology are propelling the market forward.

Key Market Drivers:

• Advancements in Laser Technology: Ongoing improvements in laser technology are enhancing the effectiveness and safety of laser hair removal procedures, making them more appealing to consumers.

• Growing Demand for Long-term Solutions: Consumers are increasingly opting for laser hair removal due to its long-term effectiveness compared to traditional methods like shaving and waxing.

• Increased Focus on Aesthetic Procedures: The rising importance of physical appearance, coupled with advancements in cosmetic procedures, is driving the demand for laser hair removal treatments.

• Rising Awareness and Research: The growing awareness of the benefits of laser hair removal, along with increasing research and development activities, are contributing to market growth.

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Market Restraints:

• Competition from Alternative Methods: Traditional hair removal methods such as shaving and waxing offer immediate results at a lower cost, posing a challenge to market growth.

• Perceived Discomfort: Concerns about pain and discomfort associated with laser hair removal, as well as the need for multiple sessions, may deter some individuals from adopting this technology.

Market Segment Insights:

• Diode Lasers Leading the Market: Diode lasers are the most popular choice due to their effectiveness, safety, and versatility. They offer precise targeting, quick treatment sessions, and are suitable for various skin types and hair colors.

• Steady Growth for Nd: YAG Lasers: Nd: YAG lasers are expected to witness steady growth, particularly for individuals with darker skin tones, due to their safety and effectiveness.

• Female Dominance: The female segment dominates the market, driven by the desire for better physical appearance and the effectiveness of laser hair removal in achieving long-term results.

End-Use Insights:

Beauty Clinics Driving Growth: Beauty clinics are experiencing moderate growth, offering professional expertise and access to advanced laser technologies. Trained professionals and comprehensive services make them increasingly sought after by consumers.

As the demand for laser hair removal continues to rise, the market is expected to witness further advancements in technology and an expansion of services offered by clinics. With ongoing research and development, laser hair removal is poised to become an integral part of the cosmetic industry, providing consumers with effective and long-lasting solutions to their aesthetic concerns.

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Laser Hair Removal Top Companies and Competitive Landscape

The global laser hair removal market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective laser hair removal solutions.

• Alma Lasers
• Candela Corporation
• Cutera
• Cynosure Inc.
• Lumenis Be Ltd
• LUTRONIC
• Merz Pharma
• Sciton
• Shanghai Fosun Pharmaceutical Group Co., Ltd
• SkinMD
• Solta Medical, Inc.
• Syneron Medical Ltd.
• Venus Concept
• Viora
• Procter & Gamble
• Ulike
• Laser Clinics
• Kartesia
• Tria Beauty
• Lynton Lasers Ltd

Laser Hair Removal Latest Industry News

• On 21 October 2021, LaserAway, a leading provider of aesthetic dermatology, announced the strategic investment made by funds managed by the Private Equity Group of Ares Management Corporation. This collaboration will support the ongoing nationwide growth of LaserAway, enhance customer loyalty through the newly introduced rewards program LaserLove, and promote the development of its exclusive skincare products under the brand LA Beauty.

• On 1 June 2020, Cynosure unveiled the Elite iQ platform in the United States, Europe, and Australia, marking the latest iteration of the Elite Aesthetic Workstation. This advanced platform enables quicker treatments with a higher maximum energy level compared to its predecessors. The Elite iQ platform utilizes Skintel, recognized as the sole live Melanin Reader in the aesthetic industry, to provide tailored laser hair removal treatments. This technology ensures permanent hair reduction for all skin types, extending its applicability to various body areas such as the face, back, chest, arms, underarms, bikini region, and legs.

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Laser Hair Removal Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global laser hair removal market on the basis of laser type, gender, end-use, and region:

• Laser Type Outlook (Revenue, USD Million; 2019-2032)
o Diode
o Nd: YAG
o Alexandrite Others

• Gender Outlook (Revenue, USD Million; 2019-2032)
o Male
o Female

• End-Use Outlook (Revenue, USD Million; 2019-2032)
o Beauty Clinics
o Dermatology Clinics
o Home Use

• Regional Outlook (Revenue, USD Million; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

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