Laser Hair Removal Market Size, Share & Trends Analysis Report By Type (Alexandrite, Nd:YAG, Diode Lasers), By End Use (Beauty Clinics, Home Use, Dermatology Clinics), By Region, And Segment Forecasts, 2019 - 2026

Report Overview

The global laser hair removal market size was valued at USD 587.56 million in 2018 and is expected to expand at a CAGR of 15.9% from 2019 to 2026. Increasing awareness regarding the safety offered by laser devices is fueling market growth. Growing technological advancements in the market is another factor for the growth of the market. For instance, mixing of modalities, by Quanta Systems in Thunder MT system.

This technology is also effective for other treatments like blue veins. It allows specialists to operate photo-rejuvenation facials in only 15 minutes. Increasing demand for laser devices for hair removal is propelling the market growth. Real genie technology is increasingly being used in these devices. Easy availability of these devices in medical stores is also augmenting the demand for hair removal products, thereby driving the market growth.

Growing number of FDA-approved products, such as Veet Infini’Silk Pro, Remington IPL6000 I-Light Pro, and Silk’n Flash&Go, for men and women, is also positively impacting the market growth. However, the high cost of hair removal treatments at beauty centers or dermatology clinics is restraining market development.

On the other hand, growing number of hair removal devices that are cleared by the FDA and are comparatively cheaper than the procedures create numerous growth opportunities for the market. In addition, increasing disposable income levels and high growth potential in emerging regions of Asia Pacific will drive the market further.

Type Insights

Diode lasers segment held the maximum share of the global laser hair removal market in 2018 owing to high precision offered by these devices. Diode lasers can selectively target a particular body part, effectively remove the hair without harming the surrounding area. Moreover, less time required for removing hair is augmenting the product demand. These lasers are most effective for the dark terminal hair. Intense Pulsed Light (IPL) is laser equivalents since they also use selective photothermolysis for hair removal. However, these devices could not gain much popularity owing to complexity in use and lack of skilled professionals.

End-Use Insights

Beauty clinics segment is anticipated to witness the fastest CAGR over the forecast period. This can be attributed to the increasing demand for the treatment across the globe. Demand for non-invasive treatments is also propelling the segment growth. Laser treatments are less painful than the traditional methods, such as waxing and plucking.

Hence, increased popularity of the targeted treatment is influencing the segment growth. Dermatology clinic segment is also expected to witness a steady growth. Beauty centers are increasingly adopting FDA-approved devices due to growing demand for painless treatments.

Regional Insights

Based on region, the market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to be the dominant regional market owing to the increasing demand for hair removal treatments, the presence of a number of well-established dermatology clinics, and the quick adoption of advanced technologies.

Asia Pacific is expected to be the fastest-growing regional market on account of increasing population and growing cases of skin disorders. In addition, changing lifestyle, the rising spending power of consumers, and rapidly growing medical tourism market in emerging economies of Asia Pacific, such as India and Japan, will drive the market further.

Laser Hair Removal Market Share Insights

Some of the prominent companies in the market include Syneron Medical Ltd.; Sciton, Inc.; Alma Lasers, Ltd.; Cynosure, Inc.; Cutera, Inc.; Lumenis Ltd.; Lutronic Corp.; Lynton Lasers Ltd.; Solta Medical, Inc.; Strata Skin Sciences, Inc.; and Venus Concept Canada Corp. The companies focus on growth strategies, such as mergers and acquisitions, development in existing devices, promotional events, and technological advancements. For instance, recently, Alma acquired Medical Nova for business outreach and for establishing direct operations in Israel. The acquisition aims at maintaining Alma’s leading position in the industry.

Laser Hair Removal Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global laser hair removal market report on the basis of type, end use, and region:

• Type Outlook (Revenue, USD Million, 2015 - 2026)

  • Diode

  • Nd:YAG

  • Alexandrite

• End-Use Outlook (Revenue, USD Million, 2015 - 2026)

  • Beauty Clinics

  • Dermatology Clinics

  • Home Use

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Singapore

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE