Number of pages: 100-120 | Report Format: PDF | Published date: 27 January, 2022
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031
Laser hair removal is the process of hair removal by means of exposure to pulses of laser light that destroy the hair follicle and remove unwanted hair. During laser hair removal, a laser emits light that is absorbed by the melanin pigment in the hair. The light energy is converted to heat, which damages the hair follicles within the skin that produce hairs. This damage inhibits or delays future hair growth. Common treatment locations include legs, armpits, upper lip, chin, and the bikini line. However, it's possible to treat unwanted hair in nearly any area, except the eyelid or surrounding area.
The global laser hair removal market is mainly driven by technological advancements, changing lifestyles, and rising disposable income. Furthermore, the rising demand for aesthetic procedures is also likely to play a pivotal role in contributing to the growth of the market. However, the high cost of the laser hair removal treatment is likely to restrain the market growth to a certain extent.
The global laser hair removal market has been analyzed from three perspectives: Product, End User, and Region.
Laser Hair Removal Market by Product
Based on product, the laser hair removal market has been segmented into the diode, Nd:YAG, alexandrite, and others (ruby, IPL, etc.). The diode segment is expected to be the fastest-growing product segment during the forecast period owing to its applications ranging from hair removal for fair to medium-dark skins. It emits both shorter and longer wavelengths and penetrates deep into the hair follicles. It is the most popular hair removal laser product among men seeking treatment to remove back hair or chest hair. It also has a lower risk of skin damage.
Laser Hair Removal Market by End User
Based on end-user, the laser hair removal market has been segmented into hospitals, dermatology clinics, and others (medical spas, etc.). The dermatology clinics segment dominated the laser hair removal market with the largest share in 2020. The growth of the segment can mainly be attributed to the greater preference by the patients for the hair removal treatment in the dermatology clinics and availability of the advanced equipment in the clinic.
Laser Hair Removal Market by Region
Based on region, the global laser hair removal market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the laser hair removal market with the largest share in 2020, followed by the Asia Pacific. The large share of North America in the global market can largely be attributed to the developed healthcare infrastructure, technological advancements, increasing number of hair removal procedures, greater disposable income of the population, and presence of a large number of well-established dermatology clinics in the region.
Some of the prominent players operating in the laser hair removal market includes:-