Insights into Laser Hair Removal Market Revenue and Key Players: Alma Lasers Candela Corporation Cutera Cynosure Inc. Lumenis Be Ltd LUTRONIC Merz Pharma

The global laser hair removal market, valued at USD 694.5 million in 2022, is projected to witness significant growth at a rapid compound annual growth rate (CAGR) of 16.1% during the forecast period. This growth is driven by rising awareness of the benefits of laser hair removal, its increasing use before surgical procedures, and ongoing advancements in laser technology.

Market Drivers

Laser hair removal has become a popular method for addressing hair removal concerns due to both its surgical and non-surgical approaches. Innovations in medical technology are transforming the cosmetic industry, particularly with the integration of lasers for hair removal. These methods offer a long-term solution for unwanted hair, which is highly sought after in the beauty and wellness sectors.

As a result, there is an increasing demand for qualified dermatologists to recommend effective and safe hair removal methods. Dermatologist-recommended procedures, such as microdermabrasion, are gaining popularity due to their high effectiveness, especially when compared to over-the-counter products.

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Additionally, research and development in the use of lasers for therapeutic purposes, coupled with the rising prevalence of aesthetic concerns, are contributing to market growth. For instance, in 2020, the American Society of Plastic Surgeons (ASPS) reported over 10.4 million minimally invasive procedures, including facial treatments, among U.S. women. The growing accessibility of minimally invasive medical treatments provided by highly qualified professionals is expected to continue fueling the demand for laser hair removal.

Market Restraints

Despite its growth, the laser hair removal market faces challenges from alternative hair removal methods such as shaving, waxing, and depilatory creams. These traditional methods are more affordable and provide immediate results, making them appealing to cost-conscious consumers.

Moreover, the discomfort and pain associated with laser hair removal, as well as the need for multiple sessions, can deter some individuals from choosing this option. The lack of awareness about the long-term benefits of laser hair removal in comparison to traditional methods also limits its wider adoption.

Laser Hair Removal Market Insights

Laser Type Insights

Diode Lasers Lead the Market: Diode lasers are the most popular type of laser used in hair removal, holding the largest market share in 2022. These lasers are favored for their safety, effectiveness, and ability to target specific body areas without damaging surrounding skin. Diode lasers offer fast and efficient hair removal, making them suitable for treating large areas like the back or legs. Their versatility across different skin types and advanced cooling mechanisms for enhanced comfort have further driven their demand.

Lasers Showing Steady Growth: Ndlasers are expected to experience steady growth, especially for individuals with darker skin tones. These lasers operate at a longer wavelength, providing safe and effective hair removal for individuals with darker pigmentation.
Gender Insights

Female Segment Dominates: Women are the primary users of laser hair removal, driven by a desire for improved physical appearance and long-lasting results. The ability of laser hair removal to offer smoother skin and reduce the incidence of ingrown hairs makes it an attractive option for many women. Additionally, the time-saving benefits of the procedure appeal to women with busy lifestyles.
End-Use Insights

Beauty Clinics on the Rise: Beauty clinics are expected to see moderate growth due to their expertise in laser hair removal and their comprehensive service offerings. These clinics employ trained professionals who can provide personalized treatments and access to advanced laser technologies, making them a popular choice for patients seeking professional care.

The laser hair removal market is set to grow rapidly in the coming years, driven by technological advancements, increasing awareness, and the demand for long-term hair removal solutions. However, competition from traditional hair removal methods and consumer concerns about pain and cost could pose challenges.

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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.

Some major players included in the global laser hair removal market report are:

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 Updates

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.

Laser Hair Removal Market Segmentation 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)

Diode
Nd: YAG
Alexandrite Others

Gender Outlook (Revenue, USD Million; 2019-2032)

Male
Female

End-Use Outlook (Revenue, USD Million; 2019-2032)

Beauty Clinics
Dermatology Clinics
Home Use

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Regional Outlook (Revenue, USD Million; 2019-2032)

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

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