Global Laser Hair Removal Market By Laser Type (Diode Laser, Nd:YAG Laser and Alexandrite Laser), By End Use (Beauty Clinics, Dermatology Clinics and Home Use), By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Laser Hair Removal Market size is expected to reach $1.2 billion by 2026, rising at a market growth of 35.4% CAGR during the forecast period. In our daily life, human hair plays a major role. Dermatologists hold an important position in addressing issues related to sparse & excessive hair growth. The cause of this extra hair growth may either be the genetics of a person or organic in nature. A person who opts for the removal of these hairs generally has excessive growth in unwanted locations or has problems emerging from abnormal hair growth patterns on normal skin. People who have darker skin types are more prone to complexities and therefore a deep understanding of the pathophysiology of excessive hair growth & the modalities of their treatment should be examined.
For a long time, there are conventional hair removal procedures such as shaving, epilation, waxing, and tweezing. In the early 20th century, Radiograph machines were adopted for the removal of facial hair, although with corresponding complexities. For years, Electrolysis was utilized for a quite long time and has shown effective results based on the skill of the treatment provider. The emergence of medical lasers resulted in a high-level of research in controlling skin problems including hair removal.
The procedure of hair removal through exposure to pulses of laser light that eradicate the hair follicle is termed laser hair removal. It is considered as a type of laser device to destroy a person's body hair in beauty spas and hospitals around the world. The growth of the market is anticipated to be fueled by the rising demand for non-invasive hair removal methods. Moreover, the market growth is also boosted by technological developments such as the advent of ultra-technology.
Laser Type Outlook
Based on Laser Type, the market is segmented into Diode Laser, Nd:YAG Laser and Alexandrite Laser. The diode segment acquired the prominent revenue share of the laser hair removal market in 2019. The major revenue is credited to the high accuracy provided by these products. Diode lasers are capable of targeting a specific body part and efficiently damage the hair without causing harm to the nearby skin of the area. Moreover, the product demand is expected to increase owing to the feasible time needed for removing hair as per the area of the body and volume of hair.
End Use Outlook
Based on End Use, the market is segmented into Beauty Clinics, Dermatology Clinics and Home Use. The beauty clinics segment has generated the maximum market revenue in 2019 and is expected to witness a promising growth rate during the forecast period, owing to the rapid adoption & broad utilization of technologically advanced products in beauty clinics. Additionally, the growth of the segment is fuelled by the rising demand for non-invasive hair removal techniques. Laser treatments are considered less harmful & painful as compared to conventional methods like waxing and hair plucking.
|Market size value in 2019||USD 345.7 Million|
|Market size forecast in 2026||USD 1.2 Billion|
|Historical Period||2016 to 2018|
|Forecast Period||2020 to 2026|
|Revenue Growth Rate||CAGR of 35.4% from 2020 to 2026|
|Number of Pages||140|
|Number of Tables||260|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Laser Type, End Use, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Free Valuable Insights: Global Laser Hair Removal Market to reach a market size of $1.2 billion by 2026
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, North America garnered the maximum revenue share of the market due to surging demand for hair removal treatments, the presence of well-established dermatology clinics, & the availability of various skilled professionals in the region. Experts in North America extensively utilized aesthetic lasers for several purposes.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cutera, Inc., Bausch Health Companies, Inc., Candela Medical Corporation, Lumenis Ltd. (XIO Group), Cynosure, LLC, Alma Lasers Ltd., Lutronic Corporation, Viora, Inc., Sciton, Inc., and Lynton Lasers Ltd.
Recent Strategies Deployed in Laser Hair Removal Market
- Nov-2020: Sciton expanded its geographical footprints by setting up direct operations in the United Kingdom and Ireland. By this expansion, Sciton expands its marketing, sales, clinical education, and service capabilities through direct operations. The U.K. is an essential market for Sciton's global growth strategy, and to introduce their innovative aesthetic technologies with an outstanding customer experience.
- Jun-2020: Cynosure launched the Elite iQ platform, the next generation of the Elite+ Aesthetic Workstation. The platform enables quick treatments with higher energy in comparison to previous generation devices. The Elite iQ platform uses Skintel, the aesthetic industry's only live Melanin Reader, to provide personalized laser hair removal treatments and forever eliminate unwanted hair for all skin types.
- Mar-2020: Viora unveiled a new device, DioBreeze. This device helps in eliminating the permanent hair results comfortably, faster, and without pain.
- Mar-2020: Lumenis introduced its newest, innovative platform, the Stellar M22. The platform is a versatile multi-application platform, which is built on the heritage of the iconic M22 and leads the category.
- Mar-2020: Lumenis collaborated with Australian Skin Clinics, along with SPLENDOR X technology. Under this collaboration, Lumenis selected Australian Skin Clinics and the SPLENDOR X technology as a supplier to enhance their laser hair removal portfolio around their new clinics for 2020 and beyond. Australian Skin Clinics were finding a device that can fulfill a high level of clinical results and provides the customers a more efficient and effective solution.
- Jan-2020: Lumenis introduced its newest platform, the LightSheer Quattro. The platform is the latest addition to the premium Lumenis LightSheer family that strengthened its position in the market, as a flagship solution in the diode laser hair removal sector.
- Oct-2019: Lutronic got the clearance for the Clarity II 755nm and 1064nm wavelength platform by the U.S. Food and Drug Administration. Clarity II is a high-power, dual-wavelength platform that efficiently provides the industry’s broadest range of parameters to assist safe and efficient treating the wide indications with ease.
- Feb-2019: Alma Lasers launched a new hair removal device, the Soprano Titanium. The device features the company’s new Quattro 3D applicator handpiece, which has a spot size of 4cm and delivers three laser wavelengths: 755 nm, 810 nm, and 1064 nm to treat all skin types.
- Dec-2018: Alma Lasers agreed to acquire Nova Medical. This acquisition helped Alma to extend its business reach and set up a direct-to-consumer operation in Israel. Under this acquisition, Alma will hold a 60% stake in Nova Medical and this also helps Alma offer on its plan to continue its leading position and strengthen brand awareness among consumers.
- Oct-2018: Lumenis launched SPLENDOR X, the first solid-state laser system implemented with the distinct BLEND X technology for fast and effective hair removal and skin solutions. SPLENDOR X treats a broad range of hair removal processes with BLEND X.
- Oct-2018: Syneron Candela expanded its geographical footprints by establishing Syneron Candela Korea Co. Ltd., a new headquarters. Syneron Candela Korea Co. Ltd. supports all commercial activities for the whole Syneron Candela portfolio of products in Korea. The new headquarter provides Syneron Candela clients with direct support to fulfill capital requirements for their practice and a high level of service, technical, training, education, and clinical support.
- Sep-2018: Syneron Candela acquired Denmark’s Ellipse Danish company. The acquisition includes Nordlys IPL multi-application, multi-tech IPL, and the Nd:YAG platform developed for vascular and pigmented lesions and hair removal. Under the acquisition, Ellipse strengthened its footprint in the multi-application space and offered its customers a complete portfolio.
- Feb-2018: Lynton came into partnership with DEKA, a New Hampshire-based company. Through this partnership, Lynton supported DEKA, in the launch of its latest alexandrite hair removal laser, the Motus AX. This partnership opens the essential channels for UK clinics to launch revolutionary technology.
Scope of the Study
Market Segments Covered in the Report:
By Laser Type
- Diode Laser
- Nd:YAG Laser
- Alexandrite Laser
By End Use
- Beauty Clinics
- Dermatology Clinics
- Home Use
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Cutera, Inc.
- Bausch Health Companies, Inc.
- Candela Medical Corporation
- Lumenis Ltd. (XIO Group)
- Cynosure, LLC
- Alma Lasers Ltd.
- Lutronic Corporation
- Viora, Inc.
- Sciton, Inc.
- Lynton Lasers Ltd.
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Laser Hair Removal Market Related Reports:
What would be the value of global laser hair removal market by 2026?
The global laser hair removal market size is expected to reach $1.2 billion by 2026.
What are the factors that anticipated to drive laser hair removal market trends?
The major factors that are anticipated to drive the laser hair removal industry include increasing number of non-invasive treatment alternatives to boost product demand.
Which segment dominated the laser hair removal market in 2019?
The Diode Laser market dominated the Global Laser Hair Removal Market by Laser Type in 2019.
Who are the top market players in the laser hair removal industry?
Cutera, Inc., Bausch Health Companies, Inc., Candela Medical Corporation, Lumenis Ltd. (XIO Group), Cynosure, LLC, Alma Lasers Ltd., Lutronic Corporation, Viora, Inc., Sciton, Inc., and Lynton Lasers Ltd.
At what CAGR is the laser hair removal market estimate to grow in the forecast period?
The expected CAGR of laser hair removal market is 35.4% from 2020 to 2026.