The global laser hair removal market size was valued at USD 798.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.4% from 2022 to 2030. The shifting trend toward maintaining optimal aesthetic beauty is one of the major drivers of the market. Moreover, increasing awareness regarding the safety offered by aesthetic lasers is fueling market growth. Growing technological advancements in aesthetic lasers are fueling the growth of the market. For instance, the mixing of modalities, founded by Quanta Systems in the Thunder MT system, is one of the recent innovations witnessed. This technology is also effective for other treatments like blue veins, which cannot be treated with Nd: YAG solely. Mixing modalities are increasingly gaining popularity with great results in just one treatment. It allows the specialists to operate photo-rejuvenation facials in only 15 minutes.
The global aesthetic market witnessed a slow growth in the first half of 2020 as these treatments are high-contact services that increased the risk of transmission. However, the market recovered significantly in 2021 as the demand for non-invasive treatments plunged higher as compared to 2019, in turn increasing the revenue of laser device manufacturers.
The Nd: YAG laser type segment in the U.S. is expected to expand at a lucrative CAGR of 18.6% during the forecast period. Rising concerns regarding facial hair such as hair growth on lips, neck, chin, and sideburn area are also driving the market. Removal of hair is one of the major concerns faced by the current population. Hence, laser hair removal is a commonly used cosmetic procedure since it uses extremely concentrated light beams. The light focuses on hair follicles, absorbs the existing pigment, and destroys the hair.
Increasing demand for laser hair removal devices, especially by women for the use of the device at home is also propelling the market growth. Real genie technology is increasingly being used in laser hair removal devices. Hence, the easy availability of these devices in medical stores that offer personal care products is augmenting the product demand, thereby driving the market. A growing number of FDA-approved products is impacting the market growth. Products such as Veet Infini’Silk Pro, Remington IPL6000 I-Light Pro, and Silk’n Flash&Go are approved by the FDA owing to their safety, efficiency, and comfort to users at home. Moreover, these products are used by both, women and men.
The high cost of hair removal treatment at beauty centers or dermatology clinics is restraining the market growth. Nevertheless, a growing number of hair removal devices are cleared by the FDA and are comparatively cheaper than the procedures. This is, in turn, creating a growth opportunity for the market growth. In addition, increasing disposable income and untapped regions in the Asia Pacific are other factors offering growth opportunities for the market players.
The market witnessed a minor setback during the first half of 2020 as the majority of the aesthetic clinics were mandated to shut down operations. However, the market witnessed double-digit growth by the end of 2020, in terms of procedure volume as per the International Society of Aesthetic Plastic Surgery. Companies like Cutera and Alma Laser, which are among the key manufacturers of laser hair removal systems, reported around a 56% increase in their aesthetic business in 2021 indicating that the market is on the path of significant recovery.
Diode lasers held the largest share of over 35.0% of the global revenue in 2021 owing to the high precision offered. Diode lasers can selectively target a particular body part and effectively remove the hair without harming the surrounding skin of the area. Moreover, the reasonable time required for removing hair according to the body area and volume of hair is augmenting the product demand.
These lasers are most effective for dark terminal hair and are comparatively less effective on skin with a lighter complexion. However, efforts are being taken by the manufacturers for a similar effect on light terminal hair as well. They cover larger areas of the body and have fast repetition rates. This attractive feature of the diode lasers is expected to impact the market growth significantly in the future.
Similarly, Intense Pulsed Light (IPL) is laser equivalent as it also uses selective photothermolysis for hair removal. However, these devices could not gain much popularity owing to their complexity in use and lack of skilled professionals for operating the treatment, and the fact that this technology is not for home use.
The beauty clinics segment held the largest revenue share of over 50.0% in 2021 and is anticipated to grow lucratively over the forecast period. Along with the adoption of technologically advanced laser hair removal products, experts at beauty clinics are also getting familiar. This can be attributed to the increase in demand for the treatment among the elderly population as well as adults.
In addition, the high demand for non-invasive hair removal treatment on a global scale is propelling segment growth. Laser treatments are painless in comparison with the traditional methods, such as waxing and hair plucking. Hence, the increased popularity of targeted aesthetic treatment is influencing the segment growth.
The dermatology clinics segment is expected to grow at a steady pace owing to the increased safety and efficiency of this treatment by dermatologists. As compared to beauty clinics, dermatologists perform the treatment with utmost care. Moreover, an individual undergoing this surgery with a permanent solution of hair removal largely visits dermatology clinics due to low cost and high-quality service.
Beauty centers are increasingly adopting FDA-approved laser hair removal devices due to the growing demand for painless hair removal. This treatment is effective with the integration of advanced technologies. Some of the patients might require topical anesthesia while operating on sensitive areas. Some of the common side-effects of getting treated by lasers are red and swollen skin, which may seem like sunburn. However, these side effects do not last longer than a few hours, giving a permanent solution.
North America led the market in 2021 with a revenue share of over 30.0% owing to an increased demand for hair removal treatments, well-established dermatology clinics, and the growing number of skilled professionals in the region. Professionals in North America make widespread use of aesthetic lasers for various purposes. Moreover, the presence of a large number of players in the region is expected to be one of the major factors fueling the market growth in the region. In 2020, around 271,628 hair removal procedures were carried out in the U.S. and they were among the top three most common procedures carried out in the country as per the International Society of Aesthetic Plastic Surgery.
Asia Pacific is expected to be the fastest-growing segment over the forecast period owing to the increasing population and growing incidences of skin damage, especially in China and India. In addition, changing lifestyles, the rising spending power of consumers, and growing medical tourism in the emerging economies of Asia Pacific are influencing the market growth.
Key players in the market are focusing on adopting growth strategies, such as mergers and acquisitions, the development of existing devices, promotional events, and technological advancements. For instance, in June 2020, Cynosure announced the U.S., European and Australian launch of the Elite iQ™ platform, the next generation of the Elite iQ™ Aesthetic Workstation that offers customized laser hair removal treatment and allows faster treatments with higher max energy compared to previous generation devices. Some prominent players in the global laser hair removal market include:
Cynosure
Alma Lasers
Solta Medical, Inc.
Cutera
Candela Corporation
Viora
Lumenis
Syneron Medical Ltd.
Venus Concept
Report Attribute |
Details |
Market size value in 2022 |
USD 930.33 million |
Revenue forecast in 2030 |
USD 3.6 billion |
Growth Rate |
CAGR of 18.4% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2018 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Laser type, end-use, region |
Regional Scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K.; Germany; France, Italy; Spain; China; Japan; India; Singapore; South Korea; Mexico; Brazil; Argentina; Chile; Colombia; South Africa; Saudi Arabia; UAE |
Key companies profiled |
Cynosure; Alma Lasers; Solta Medical, Inc.; Cutera; Candela Corporation; Viora; Lumenis; Syneron Medical Ltd.; Venus Concept |
Customization scope |
Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail of customized purchase options to meet your exact research needs. Explore purchase options |
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 2016 to 2028. For this study, Grand View Research has segmented the global laser hair removal market report based on laser type, end-use, and region:
Laser Type Outlook (Revenue, USD Million, 2018 - 2030)
Diode
Nd: YAG
Alexandrite
End-use Outlook (Revenue, USD Million, 2018 - 2030)
Beauty Clinics
Dermatology Clinics
Home Use
Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Singapore
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Rest of Latin America
Middle East & Africa
South Africa
Saudi Arabia
UAE
Rest of the Middle East & Africa
b. The global laser hair removal market size was estimated at USD 798.5 million in 2021 and is expected to reach USD 930.3 million in 2022.
b. The global laser hair removal market is expected to grow at a compound annual growth rate of 18.4% from 2022 to 2030 to reach USD 3.6 billion by 2030.
b. North America dominated the laser hair removal market with a share of 34.6% in 2021. This is attributable 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.
b. Some key players operating in the laser hair removal market include Syneron Medical Ltd.; Sciton, Inc.; Alma Lasers, Ltd.; Cynosure, Inc.; Cutera, Inc.; Lumenis Ltd.; Lutronic Corp.; Lynton Lasers Ltd.; Solta Medical, Inc.
b. Key factors that are driving the laser hair removal market growth include increasing awareness regarding the safety offered by laser devices and the growing number of FDA-approved products.
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
Leading SME award by D&B
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.
"The quality of research they have done for us has been excellent."
With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.
We value your investment and offer free customization with every report to fulfil your exact research needs.