A report by ARC estimated that the laser hair removal market will surpass $3.9 billion by 2026, representing an average annual growth rate of 15.4 percent from 2019 to 2026.
The global laser hair removal product market is driven by increased awareness regarding personal appearance and rising health awareness among the population. Additionally, improved standard of living and rising disposable income tremendously affects the laser hair removal market growth positively. Furthermore, government supportive activities in emerging economies have been enforcing the companies to develop advanced products that lead to efforts from various multinational corporations, thereby rising overall consumption of hair removal products in last few years. Moreover, technological discoveries owing to continuous R&D in the area of processing and cost-effective production have boosted the laser hair removal market growth. However, availability of advanced beauty treatments, a high cost of organic cosmetics and fluctuation in crude material supply might act as an obstacle to the laser hair removal market growth. Increasing administrative support and regulations will incorporate significant growth opportunities for key players operating in the laser hair removal market.
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Laser hair removal devices are one of the advanced products used in the hair removal. During last few years, the increasing demand for the advanced hair removal devices has led to the introduction of the laser hair removal devices. Being a nascent market the laser hair removal devices possess a huge opportunity in the near future. Improved standard of living and rising disposable income tremendously affects the laser hair removal market growth positively. Moreover, latest launch of advanced laser hair removal products by the major companies has increased the consumption of the hair removal product, driving the market growth. Moreover, technological discoveries owing to continuous R&D in the area of processing and cost-effective production have boosted the laser hair removal market growth. On the other hand, high cost of the treatment and devices may slow the growth of the laser hair removal market.
The market research study on “Laser Hair Removal Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Laser hair removal market. The report also analyzes the key players operating in Laser hair removal market and identifies the key strategies deployed by them along with the market share of leading players.
The global Laser hair removal market is segmented as below:
Market By End User
- Dermatology Clinics
- Beauty Clinics
Market by Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Saudi Arabia
- South Africa
- Rest of the World
The key trends supporting the laser hair removal market growth includes increasing concern about the beauty and increasing disposable income of the people.
The laser hair removal is segmented by end user.
On the basis of type, the global laser hair removal is segmented into dermatology clinics, beauty clinics and others. Dermatology clinics dominates the global laser hair removal market owing to high adoption of laser hair removal devices, and most preferred place for the treatment by people.
Geographically, the Laser hair removal market is segmented into Asia Pacific, North America, Europe, and Latin America & Middle East Africa (LAMEA).
Americas dominates the global laser hair removal market owing to the rapid life style changes, technological improvements, high spending of the people. Continuously increasing concern towards beauty and personal care have supported the growth of the laser hair removal market. U.S. holds the major share in the North America laser hair removal market owing to the high spending power of the people and presence of major players in the market. On the other hand, Mexico and Canada posses a huge growth for the market owing to the constantly rising spending power of people and increasing concern for the beauty products.
Europe holds the second leading share in the global laser hair removal market. huge spending of the people are the major drivers of the laser hair removal market. Moreover, favorable government support and better reimbursement policies for the laser hair removal devices have supported the laser hair removal market growth.
Asia Pacific is expected to be fastest growing market for laser hair removal owing to the presence of huge population and changing lifestyle are major diving factor in this region. Increased GDP, modern lifestyle pattern, the purchasing power of end-user and rising concerns about UV effects, aging and hair fall problems in the region have boosted the growth of the Asia Pacific laser hair removal market. The LAMEA laser hair removal market is majorly driven by increasing awareness regarding availability of advanced laser hair removal products, and changing lifestyle of the people. LAMEA holds the least share in the global laser hair removal market owing to the presence of poor economies in African region. The major LAMEA market share is holds by Middle east region due to the presence of developed economy and continuously rising spending of the people.
Some of the major players analyzed and profiles in this market include Hologic, Inc (Cynosure), Apax Partners (Syneron Candela), Fosun Pharma (Sisram), XIO Group (Lumenis), Elen s.p.a, Cutera, Lutronic, Venus Concept, Miracle Laser Systems Inc, Valeant Pharmaceuticals (Solta Medical Inc), Viora, Fotona, Sciton Inc, Lynton Lasers Group, and Sharplight Technologies Ltd.
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