Global Laser Hair Removal Market Size, Share, Trends, COVID-19 impact & Growth Analysis Report – Segmented By Laser Type (Diode, Nd: YAG and Alexandrite), End-Use, and Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Forecast (2024 to 2029)

Updated On: January, 2024
ID: 12160
Pages: 200

Global Laser Hair Removal Market (2024 to 2029)

The global laser hair removal market is estimated to grow at a CAGR of 22.64% from 2024 to 2029. The market size is predicted to be worth USD 2374.2 million in 2029, up from USD 855.7 million by 2024.

Current Scenario of the Laser Hair Removal Market

The laser hair removal is a medical procedure that uses a concentrated beam of light (laser) to remove unwanted hair. The heat from the laser removes hair and destroys hair follicles. The laser hair removal procedure is not a permanent solution, but it lasts longer compared to other hair removal procedures. According to the International Society of Aesthetic Plastic Surgery, around 271,628 hair removal procedures were carried out in the United States, among the top three standard procedures carried out in the country. According to the American Society of Plastic Surgeons, 84% of hair removal procedures were performed in the female population in the United States. The global laser hair removal market has witnessed moderate growth in the past years and is anticipated to have notable growth during the forecast period. The increasing awareness among the people, rising demand for aesthetics, and technological advancements are estimated to augment the global market revenue in the coming years. The benefits of laser treatment, such as long-lasting effects, pain-free procedures, and better outcomes, are gaining traction among people, especially among the female population, which accelerates the market growth opportunities.

MARKET DRIVERS

The growing adoption of laser hair removal procedures and rising emphasis on physical appearance and grooming by people are majorly driving the laser hair removal market growth.

Laser hair removal procedures cause relatively less pain and provide long-lasting results and due to this, laser hair removal procedures are widely adopted over traditional hair removal methods. These laser hair removal procedures are majorly preferred by women as the desire to have smooth and hairless skin is high among women compared to men. Recent technological advancements have made these laser hair removal procedures safe and more effective. Due to these advancements, laser hair removal procedures have become a convenient and effective way to achieve their desired aesthetic appearance.

The growing disposable income and rising demand for non-invasive cosmetic treatments are further fuelling the growth rate of the laser hair removal market.

According to a study conducted by the American Society of Plastic Surgeons, the number of non-invasive cosmetic procedures has increased by 220% since 2000. The same study reported that the adoption of laser hair removal procedures is high among people who have high disposable income. The number of clinics and salons that provide laser hair removal services has dramatically increased in the recent past. For instance, the European Wax Center, a popular laser hair removal chain, opened more than 800 locations in the United States.

Rising awareness among people regarding the benefits of laser hair removal, such as longer-lasting results, fewer ingrown hairs, and less skin irritation, is propelling the market growth.

The convenience of laser hair removal over other hair removal methods, increasing advertising efforts by the market participants using social media and traditional channels, and an increasing number of medical applications such as the treatment of hirsutism and excessive hair growth caused by hormonal imbalances are contributing to the growth of the laser hair removal market. Several market participants are using social media platforms such as Facebook, Instagram and Twitter to promote their laser hair removal services through influencers and celebrities. The growing number of laser hair removal clinics, the increasing trend of male grooming, the rapid adoption of technological developments to develop advanced laser hair removal devices, the rising popularity of at-home laser hair removal devices, the growing aging population and the increasing acceptance of cosmetic procedures are further supporting the growth rate of the laser hair removal market.

MARKET RESTRAINTS

High costs associated with the laser hair removal procedures is majorly hampering the global market growth.

Factors such as the increasingly high cost of beauty devices, the high costs associated with treatment procedures, and the vulnerable nature of the supply of materials for laser hair removal may affect the market. In addition, the growing interest in other alternative hair removal devices/treatments, such as razors, epilators, and wax strips, is estimated to hamper the growth rate of the laser hair removal market throughout the forecast period. In addition, side effects due to lasers are another major impediment to the laser hair removal market. The limitations include specific side effects with usage that could be important for people with hypersensitive skin. Some of the normal side effects are redness, eye damage, skin conditions and discomfort, scabs, change in tone, etc. Moreover, the high cost of aftercare or post-laser treatment and the fluctuation of laser device maintenance are the factors holding back the growth of the laser hair removal market.

Impact Of COVID-19 On The Global Laser Hair Removal Market

Almost all sectors and businesses have been destroyed after the COVID-19 pandemic. However, the effect of COVID-19 on the laser hair removal market may not be as regrettable as in other markets. Salons and aesthetic centers have seen a significant revenue decrease due to the lockdown and slow market. Customers have chosen home kits for hair removal, mainly laser hair removal kits. The accessibility of these devices through e-commerce channels has led to offers of these items in all cases during the pandemic. Therefore, the effect of Covid-19 has been moderate in the laser hair removal market.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Covered

By Laser Type, End-Use, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leader Profiled

Lynton Lasers Ltd, Sciton, Inc., Viora, Inc., Lutronic Corporation, Alma Lasers Ltd., Cynosure, LLC, Lumenis Ltd. (XIO Group), Candela Medical Corporation, Bausch Health Companies, Inc., and Cutera, Inc.

 

SEGMENTAL ANALYSIS

Global Laser Hair Removal Market Analysis By Laser Type

The diode segment had the most significant share of the worldwide laser hair removal market in 2023 and is anticipated to register a promising CAGR during the forecast period.

The Nd YAG segment had a substantial share of the global market for laser hair removal in 2023. The product’s supremacy is due to its longer wavelength of 1064 nm, allowing for more optical window absorption. Furthermore, having a longer wavelength has been proven to be the most effective treatment for pigmented skin. The advent of new advanced devices using diode lasers with wavelengths of 810nm has given the diode segment a strong market position. The Alexandrite sector had a smaller percentage of the market.

Global Laser Hair Removal Market Analysis By End-User

The beauty clinics segment is predicted to dominate the market during the forecast period. The expanding number of laser hair reduction procedures in specialized beauty clinics explains the dominance. In addition, the developments in infrastructure and dermatology clinics are likely to increase significantly.

REGIONAL ANALYSIS

Geographically, the North American laser hair removal market region is predicted to be the dominant in the global laser hair removal market due to the increased demand for hair removal treatments, the growth in the adoption of advanced technologies, and the presence of several well-established dermatology clinics in the region, especially in the U.S and Canada. The U.S. market dominated the North American laser hair removal market by country in 2023. The Canadian market is predicted to be experiencing a CAGR of 22% from 2024 to 2029. Additionally, the Mexican market is expected to experience a healthy CAGR. Laser hair removal is one of the leading cosmetic procedures in demand across the United States.

The European laser hair removal market is estimated to account for a substantial global market share during the forecast period. The U.K. and France are expected to be the dominant European market due to the growing demand for hair removal treatments, the presence of several well-established dermatology clinics, and the rapid adoption of advanced technologies. With over a million procedures performed in 2019, laser hair removal is one of the most popular minimally invasive cosmetic treatments in the United Kingdom.

While the Asia-Pacific laser hair removal market region is expected to show promising CAGR due to increased cases of skin disorders and population growth during the forecast period, the future of the global laser hair removal market is expected to be bright owing to a change in lifestyle, the development of the medical tourism market in emerging economies, and the increasing purchasing power of consumers during the forecast period. As a result, APAC and Latin America regions are expected to grow at a high CAGR during the forecast period. The strong growth of these regional markets can be attributed to changing lifestyles, increasing incidence of skin lesions, and increasing medical tourism in the region, which will drive the regional market's growth.

The Middle East laser hair removal market region is expected to showcase a moderate growth rate in the global laser hair removal market during the forecast period due to the increase in cases of skin diseases in emerging economies and increased levels of disposable income. In addition, changing lifestyles, increasing consumer purchasing power, and the rapidly growing medical tourism market in countries such as UAE and Egypt will drive the market during the forecast period. On the other hand, the African region is expected to have the least market share of the laser hair removal market.

KEY PLAYERS IN THE GLOBAL LASER HAIR REMOVAL MARKET

Lynton Lasers Ltd, Sciton, Inc., Viora, Inc., Lutronic Corporation, Alma Lasers Ltd., Cynosure, LLC, Lumenis Ltd. (XIO Group), Candela Medical Corporation, Bausch Health Companies, Inc., and Cutera, Inc. are a few of the prominent companies operating in the global laser hair removal market.

RECENT MARKET DEVELOPMENTS

  • In November 2023, Justera Health Ltd. launched an extended range of premium laser treatment services with CUTERA XEO. The XEO, manufactured by Cutera Face and Bidy Aesthetic Solutions, brings a new dimension to non-surgical aesthetic treatments.
  • In February 2023, Milan Laser Hair Removal entered new strategic growth equity investments from Sixth Street and Wildcat Capital Management. The investment would support the acceleration of clinic expansion, marketing, and business development.
  • In March 2023, Asclepion Laser Technologies unveiled its latest laser system, AlexStar DUO, which was showcased at Dubai Derma. It was initially launched in the Middle East and later became accessible globally. The product launch expanded the company’s product portfolio, creating a competitive edge in the market.
  • In March 2023, Alma Lasers Ltd. acquired PhotonMed International. As part of the acquisition, Alma paid 270 million RMB to secure 60% of the business, making it the major shareholder in the new joint venture.
  • SharpLight Technologies Ltd. has recently developed a singular technology aesthetic device powered by flagship DPC technology, which treats a variety of indications such as skin rejuvenation, pigmented and vascular lesions, hair removal, and acne.

DETAILED SEGMENTATION OF THE GLOBAL LASER HAIR REMOVAL MARKET INCLUDED IN THIS REPORT

This research report on the global laser hair removal market has been segmented and sub-segmented based on laser type, end-use, and region.

By Laser Type

  • Diode
  • Nd YAG
  • Alexandrite

By End-use

  • Beauty Clinics
  • Dermatology Clinics
  • Home Use

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

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Frequently Asked Questions

What is the Impact of COVID-19 on the laser hair removal market?

COVID-19 has shown a significant negative impact on the laser hair removal market. Detailed analysis of the impact has been discussed in the report, request a sample brochure of the report for more details. 

Which region is anticipated to be growing aggressively in the global laser hair removal market in the future?

The Asia-Pacific region is expected to showcase the fastest CAGR in the global laser hair removal market in the coming future.

Which segment by laser type led the laser hair removal market?

Based on the laser type, the Nd: YAG segment accounted for the major share of the market in 2023.

Who are the major players in the laser hair removal market?

Companies playing a leading role in the global laser hair removal market are Cynosure, Alma Lasers, Solta Medical, Inc., Cutera and Candela Corporation.

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