The global laser hair removal market size is expected to reach USD 2.8 billion by 2028 registering a CAGR of 20.6% over the forecast period, according to a new report by Grand View Research, Inc. Increasing demand for non-invasive hair removal procedures is expected to drive the market growth. Technological advancements, such as the introduction of ultra-technology, are also projected to boost the market growth.
The ultra-technology is more secure than earlier techniques and the prevalence of side-effects, such as burning sensations and temporary rashes on the skin, can be easily healed with topical applications. Asia Pacific is anticipated to register the fastest CAGR during the forecast period owing to the high prevalence of skin disorders in the emerging economies and the rise in disposable income of consumers. Moreover, growing e-commerce penetration is driving the market due to easy availability of advanced products.
The Covid-19 pandemic has created several challenges for the aesthetics industry. Initially, most of the clinics had halted their services with only emergency procedures to be performed. This has impacted the market growth. However, recently, due to ease of lockdown restrictions, services have resumed in a staggered manner with strict measures to be followed. This will boost the market growth.
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The Nd:YAG laser type segment is expected to register the fastest CAGR from 2021 to 2028 owing to the high efficiency of these products on all skin types, including tanned skin, and faster repetition rates
The beauty clinics end-use segment is expected to lead the global market, in terms of revenue share as well as growth rate, during the forecast period owing to an increase in demand for advanced aesthetics devices for hair removal
The dermatology clinics segment is projected to account for a significant market share by 2028 due to the availability of skilled professionals and efficient treatments with extreme safety and comfort
North America was the dominant regional market in 2020 and is expected to expand further at a steady CAGR from 2021 to 2028 owing to a huge market of dermatology clinics and the adoption of innovative devices
Grand View Research has segmented the global laser hair removal market on the basis of laser type, end-use, and region:
Laser Hair Removal Laser Type Outlook (Revenue, USD Million, 2016 - 2028)
Laser Hair Removal End-use Outlook (Revenue, USD Million, 2016 - 2028)
Laser Hair Removal Regional Outlook (Revenue, USD Million, 2016 - 2028)
Middle East & Africa
List of Key Players of Laser Hair Removal Market
Syneron Medical Ltd.
Alma Lasers, Ltd.
Lynton Lasers Ltd.
Solta Medical, Inc.
Strata Skin Sciences, Inc.
Venus Concept Canada Corp.
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