Laser Hair Removal Market by Product [Diode, Nd:YAG, and Alexandrite], End User [Hospitals and Dermatology Clinics]– Global Outlook & Forecast 2021-2031

Report Overview

The global laser hair removal market was pegged at ~US$ 445.5 million in 2020 and is expected to witness a CAGR of ~20.4% during the forecast period.

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.

[683524]

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

[5735423]

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:-

• Solta Medical
• Lutronic
• Cutera
• Alma Lasers
• Candela Medical
• Lynton Lasers Ltd
• Strata Skin Sciences
• Venus Concept
• Lumenis
• Cynosure, among others

Strategic Developments

• In June 2020, Cynosure, Inc. announced the U.S., the European, and the Australian launch of the Elite iQ platform, the next generation of the Elite+ Aesthetic Workstation for laser hair removal and skin revitalization. It allows faster treatments with higher energy compared to the previous generation of devices.
• In May 2020, Sartorius launched the new Incucyte SX5 Live-Laser Hair Removal System, the latest in the company's line of live-Laser Hair Removal products. The Incucyte SX5 offers new capabilities, including novel optics, a new line of paired reagents, and purpose-built software to enable researchers to draw greater insight from every live cell experiment.
• In January 2020, Lumenis Ltd., the world's largest energy-based medical device company announced the launch of the LightSheer Quattro system. The system offers clinically proven laser hair removal treatments for all skin types with either 805nm or 1060nm wavelengths with no downtime. It also enables the treatment of pigmented and vascular lesions.
• In October 2018, Lumenis Ltd., announced the launch of SPLENDOR X, the first solid-state laser system equipped with the unique BLEND X technology for fast and effective hair removal.

Frequently Asked Questions About This Report