The size of the laser hair removal market is forecasted to be worth USD 77.67 million by 2027 from USD 30.35 million in 2022, growing at a CAGR of 20.67% from 2022 to 2027.
The laser hair removal market growth in MEA is expected to be driven by a shifting trend towards maintaining optical aesthetic beauty. Also, the growing awareness and popularity among individuals about the benefits of laser treatment, such as painless treatment and lasting results, is boosting the market growth.
The growing concern about removing facial hairs, rising demand for hair removal treatments, and increasing healthcare spending fuel the market growth. On the other hand, growing advancements in the technology for developing new techniques and procedures in laser treatment, improving competition between players for introducing and launching new efficient products and enhanced devices, as well as rising preferences towards at-home grooming kits which easy and convenient to operate are expected to accelerate the market growth.
Laser removal procedures are more convenient than traditional hair removal procedures, and these procedures are attracting a massive pool of individuals, which is expected to boost the market growth. In addition, the growing awareness and popularity among individuals about the benefits of laser treatment, such as painless treatment, lasting results, is increasing the demand for laser hair removal treatment in the market. Furthermore, the rise in government initiatives and investments from government and non-government firms in research activities for developing new innovative treatments and procedures such as introducing ultra- technology in the market is propelling the demand and increasing market growth of laser hair removal.
Key market players are investing in the adoption of advanced products, and the launch of new technology is providing lucrative growth opportunities to the market growth. For example, Monocrom is introducing a new liquid fiber optic delivery technology of high peak power laser diode called the THEA technology, an intelligent combination of reshaping and integrating optics and the utilization of liquid optical fiber is propelling the growth of the market.
However, the high cost of hair removal therapies and treatments at dermatological clinics is the primary concern that is hampering the growth of the laser hair removal market. In addition, the increasing availability of substitute products with low pricing rates in the market, such as wax strips, razors, and other products, is restraining the laser hair removal market in MEA.
This research report on the MEA laser hair removal market has been segmented and sub-segmented into the following categories:
By Laser Type:
The Middle East and Africa market is anticipated to record a moderate share in the global Laser Hair removal market during the forecast period. Increasing demand or hair removal procedures, improving healthcare infrastructure, and presence of emerging economies such as South Africa, UAE, and Saudi Arabia.
South Africa accounted for the largest share of the MEA Laser Hair removal market in 2020, and it is anticipated to record a dominant share during the forecast period. The market growth is attributed to the increase in the prevalence of hair care problems, the presence of well-established dermatology clinics, and growing healthcare spending.
The UAE is expected to witness lucrative growth in the MEA Laser Hair removal market due to the rising technological advancement in laser treatment, hair growth concerns, and new enhanced treatments and procedures. Also, growing concern related to hair growth is increasing the demand for laser hair removal in the market in the country.
On the other hand, Saudi Arabia is projected to register a considerable share in the MEA Laser Hari removal market during the forecast period. Supportive government policies, growing awareness about the availability of laser treatments, and enhancing technology are expected to contribute to the market growth.
KEY MARKET PLAYERS:
Companies playing an active role in the MEA laser hair removal market and profiled in this report are 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.
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