Laser Hair Removal Market Size 2021

Laser Hair Removal Market Size 2021

News Highlights

Pune, India, May 11, 2021 (News) — The global laser hair removal market size is expected to experience exponential growth by reaching USD 1,619.7 million by 2028 while exhibiting a stellar CAGR of 16.7% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled “Laser Hair Removal Market, 2021-2028”. The report further mentions that the market stood at USD 483.0 million in 2020. Laser hair removal treatments are gaining traction due to their high efficacy in preventing hair growth.

Several companies are focusing on developing a portfolio of advanced hair removal products based on laser technology. For instance, Ellipse adopts selective waveband technology and laser in its hair removal machine Nordlys. The machine performs several hair removal procedures with optimum efficiency. Thus, the increasing development of innovative hair technologies is expected to boost the demand for the product in the forthcoming years.

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Market Segmentation:

On the basis of product, the market is classified into Nd: YAG, diode, alexandrite, and others.

Based on the product, the Nd: YAG segment held a global laser hair removal market share of about 32.4% in 2020 and is expected to experience considerable growth in the forthcoming years. This is due to several benefits of these products such as longer wavelength that enables optimum treatment solution for pigmented skin.

Based on the end-user, the market is segmented into hospitals, medical spas & specialty clinics, and others. Lastly, on the basis of region, the market is segregated into Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.

COVID-19 Impact: Market Exhibited 12.4% Decline in Growth Rate in 2020

The shutdown of stores and the postponement of skin care appointments have disrupted the economic functioning of the market. This has led the market exhibiting a negative growth rate of 12.4% in 2020. However, phased out starting up of stores by abiding to the social distancing norms is expected to favor the growth of the market in the forthcoming years.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

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Increasing Demand for Non-Invasive Treatment Solutions to Augment Growth

Non-invasive treatment solutions have gained popularity due to their fewer side effects compared to invasive procedures. This has led to the development of novel solutions by companies leading to the increasing approvals by the U.S. Food and Drug Administration.

For instance, in June 2020, Venus Concept Inc. secured an FDA clearance for its Venus Epileve, an advanced laser hair reduction solution. Moreover, massive technological advancements in the product is expected to contribute to the global laser hair removal market growth in the forthcoming years.   

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Asia-Pacific to Remain Dominant; Rising Disposable Income to Aid Growth

Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the market in the forthcoming years. This is owing to the rising disposable income of the working population in countries such as India and China that is leading to high spending on personal care in the region. Asia-Pacific stood at USD 184.8 million in 2020.

On the other hand, North America is expected to hold the second position in the market due to the significant development in the laser hair removal products and the increasing spending capacity of the Americans between 2021 and 2028.

Partnerships between Prominent Companies to Boost Their Market Standings

The market is fragmented by the presence of diverse companies that are striving to maintain their stronghold. These companies are focusing on establishing partnerships with other companies to expand their laser hair removal portfolio and further improve their positions amongst their rivals. Moreover, the adoption of organic and inorganic strategies by other players to maintain their presence is expected to contribute to the market growth.

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Industry Developments:

May 2020 – Lira Style introduced a new aesthetics platform, Cervello. The company reports that the new platform is essentially a device that allows clinically proven laser hair removal procedures.

List of Companies Profiled in the Global Market:

  • Venn Healthcare (U.K.)
  • Sciton, Inc. (California, U.S)
  • Lumenis Ltd. (Israel)
  • Cynosure (Massachusetts, U.S)
  • Cutera (California, U.S)
  • CANDELA CORPORATION (Massachusetts, U.S)
  • Lynton Lasers Ltd (U.K.)
  • Alma Lasers (Israel)
  • Fotona (Texas, U.S)
  • Venus Concept (Toronto, Canada)

Table Of Contents :

  • Introduction
    • Market Scope
    • Market Segmentation
    • Market Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Overview: Impact of COVID-19 on Laser Hair Removal
    • New Product Launch
    • Snapshot of Regulatory Scenario
    • Key Industry Developments – Mergers, Acquisitions, and Partnerships
  • Global Laser Hair Removal Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast By Product
      •  Diode
      •  Alexandrite
      •  Nd: YAG
      •  Others
    • Market Analysis, Insights and Forecast By End User
      •  Hospitals
      •  Medical Spas & Specialty Clinics
      •  Others
    • Market Analysis, Insights and Forecast By Geography
      •  North America
      •  Europe
      •  Asia Pacific
      •  Latin America
      •  Middle East & Africa
  • North America Laser Hair Removal Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast By Product
      •  Diode
      •  Alexandrite
      •  Nd: YAG
      •  Others
    • Market Analysis, Insights and Forecast By End User
      •  Hospitals
      •  Medical Spas & Specialty Clinics
      •  Others
    • Market Analysis, Insights and Forecast  By Country

Toc Continue…

Segments Covered in the Report

By Product

  • Nd: YAG
  • Diode
  • Alexandrite
  • Others

By End User

  • Hospitals
  • Medical Spas and Specialty Clinics
  • Others

By Geography

  • North America
    • By Product
    • By End User
    • By Country

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/laser-hair-removal-market-103477

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About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

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Press Release: https://www.fortunebusinessinsights.com/press-release/global-laser-hair-removal-market-10172

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