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
Market Fundamentals
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.
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Market Dynamics
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.
Market Ecosystem
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
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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.
Competitive Landscape
Some of the prominent players operating in the laser hair removal market includes:-
Strategic Developments
Report Attribute |
Details |
Revenue forecast in 2031 |
USD ~3,433.4 million |
Market size value in 2020 |
USD ~445.5 million |
Growth Rate |
CAGR of ~20.4% from 2021 to 2031 |
Base year for estimation |
2020 |
Forecast period |
2021-2031 |
Segments covered |
Products, End User |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
arrow_forward The global laser hair removal market was anticipated to clock US$ ~445.5 million in 2020
arrow_forward The laser hair removal market is projected to reach US$ ~3,433.4 million by 2031
arrow_forward The global laser hair removal market is mainly driven by technological advancements, changing lifestyles, and rising disposable income.
arrow_forward Solta Medical, Lutronic, Cutera, Alma Lasers, Candela Medical, Lynton Lasers Ltd, Strata Skin Sciences, Venus Concept, Lumenis, Cynosure
arrow_forward The growth rate of laser hair removal market is CAGR of ~20.4% between 2021-2031
arrow_forward North America held the largest market share of the global laser hair removal market in 2020
*Insights on financial performance is subject to availability of information in the public domain
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