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Thursday, 18 April 2024
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Laser Hair Removal Market is expected to reach US$ 1,465.70 million by 2030

The global laser hair removal market is projected to grow from USD 539.44 million in 2022 to reach USD 1,465.70 million by 2030.

By The Insight Partners

According to our new research study on “Laser Hair Removal Market Forecast to 2030 – Global Analysis – by Laser Type, Product Type, and End User,” the laser hair removal market size is expected to grow from US$ 539.44 million in 2022 to US$ 1,465.70 million by 2030; the market is estimated to register a CAGR of 13.31% during 2022–2030. Key factors driving the market growth include increasing number of hair removal procedures and combination of different modalities. However, the side effects of laser hair removal procedures hinder the market growth.

Based on laser type, the laser hair removal market is segregated into Alexandrite laser, diode laser, Nd:Yag laser, and others. The diode laser segment held the largest market share in 2022 and is fastest growing segment with the CAGR of 14.25% during 2022–2030. A diode laser is a type of semiconductor laser that produces a coherent projection of light in the visible infrared range. It uses a narrow-spectrum light beam to target specific chromophores in the skin. Compared to Ruby and Alexandrite laser systems, among others, the 800 nm diode laser wavelength offers deeper penetration levels and superior melanin absorption. These unique characteristics make diode lasers the most suitable technology for laser hair removal, allowing for safe and effective treatment of all skin and hair types in all areas of the body. In June 2020, the FDA provided 510(k) clearance to Venus Concept Inc. to market and sell its Venus Epileve, a diode laser device intended for hair removal and permanent hair reduction, along with the management of complications such as pseudofolliculitis barbae.

Laser Hair Removal Market, by Geography, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00007060

Source: The Insight Partners Analysis

Based on product type, the laser hair removal market is bifurcated into multiple standard wavelengths and specific standard wavelengths. The multiple standard wavelength segment held a larger market share in 2022, and it is anticipated to register a higher CAGR during 2022–2030. The demand for safe and effective hair removal procedures is on the rise owing to the increasing availability of various laser treatment options for aesthetic and medical applications. Clinical studies indicate that laser treatments are highly effective in reducing hair growth in individuals with fair skin and dark hair. Combination laser systems using different wavelengths, including 755 nm, 810 nm, 940 nm, and 1064 nm, are available worldwide for a few years now, and they have proven to be more effective than single-wavelength lasers. The latest Alexandrite and Nd:YAG combined wavelength technology has opened up possibilities for more comprehensive indications, including laser removal of vascular and pigmented lesions.

The Laser Hair Removal market, by end user, is segregated into beauty clinics, dermatology clinics, hospitals, and home use. The beauty clinics segment dominated the market by holding the largest share of the market in 2022. A beauty clinic is a healthcare facility that mainly offers outpatient services. Services provided by an aesthetic skin care clinic include laser hair removal, Botox and fillers, skin rejuvenation therapies, facial and chemical skin peels, and several other similar treatments. Cosmetic treatments are known to have a significant impact on the confidence and self-image of people seeking these treatments, which would continue to boost the popularity of hair reduction and removal treatments. Trained therapists appointed in beauty skin care clinics offer a more comprehensive range of treatments. A safe, clean environment is maintained in these clinics, which are specifically designed to prevent infection during or post procedures. Beauty clinics are equipped with high-quality machines and fittings that make procedures and treatments easy and less hazardous. Therefore, a burgeoning number of laser hair removal procedures performed in beauty clinics such as Dermoperfection Medical Skin and Cosmetic Clinic, and Alfa Laser Centre favors the global laser hair removal market.

Laser hair removal, performed by a skilled medical professional, has emerged as a popular, safe, effective, and permanent procedure for removing unwanted hair from the body. With the need for specialized dermatology treatments, patients tend to visit specialty dermatology clinics for rapid and effective hair removal services. A few of certified clinics around the world include Tulsa Dermatology Clinic, Australian Skin Clinic, and Olivia Hair and Skin Clinic.

Alma Lasers Ltd, Cutera Inc, Candela Corp, Cynosure Llc, Sciton Inc, Citation Spectrum Llc, Sinclair Pharma Ltd, Lutronic Co Ltd, Lumenis Be Ltd, and Vertex Lasers Inc are among the leading companies operating in the laser hair removal market. These players focus on expanding and diversifying their market presence and acquiring a novel customer base, tapping prevailing business opportunities in the laser hair removal market.

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