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% from 2022 to 2030.
Analyst’s Viewpoint
The laser hair removal market analysis entails market drivers such as the increasing number of hair removal procedures and the combination of different modalities in laser hair removal. Further, rising demand among men is expected to introduce new trends in the laser hair removal market during 2023–2030. Based on laser type, the laser hair removal market is segmented into Alexandrite laser, diode laser, Nd:YAG laser, and others. The diode laser segment accounted for the largest market share in 2022and is anticipated to grow with the CAGR of 14.25%. Based on product type, the laser hair removal market is bifurcated into multiple standard wavelengths and specific standard wavelengths. Multiple wavelength segment dominated the market by accounting for a maximum share in 2022. In terms of end user, the laser hair removal market is segmented into aesthetics clinics, dermatology clinics, hospitals, and home use. The beauty clinics segment is likely to account for a considerable share of the market during the forecast period.
Dermatologists can safely and effectively remove unwanted hair using laser systems from the face and body. People often seek this procedure for areas such as underarms, back, or bikini regions. Although the results are not permanent, they last longer than traditional methods such as shaving and waxing. Usually, six treatments are required for optimal results. While it is generally safe, there is a possibility of side effects such as burns, scars, or permanent skin discoloration.
Market Insights
Increasing Number of Hair Removal Procedures and combination of Different Modalities Propel Market Growth
In the past, waxing was introduced as a replacement for depilatory methods such as shaving and tweezing. The wax that was often regarded as the safest has now been rendered obsolete by cutting-edge laser hair removal technology. Several medical establishments in the US and other countries in the world are embracing this semipermanent hair removal approach, and many facilities operate by employing a group of specialists with combined expertise in providing cosmetic treatments, including laser hair removal. Laser hair removal treatments have improved significantly. With these enhancements, more efficient and faster systems have been introduced, ensuring a less painful experience due to features such as mini blasts of cryogen spray before each pulse to cool and numb and integrated chilled tips. According to data provided by the American Society of Plastic Surg eons in 2023, more than 750,000 laser hair removal procedures are performed in the US each year. Therefore, the increasing number of hair removal procedures propels the growth of the laser hair removal market globally.
Many lasers and intense pulsed light (IPL) modalities have been introduced to treat multiple skin types and concerns. The combination of these modalities has emerged as one of the most recent and notable innovations in the laser hair removal market. The Duetto MT Evo from Lynton Lasers combines and delivers simultaneous emission of both a true Alexandrite 755 nm laser and Nd: YAG 1064 nm laser, which are individually considered as the gold standard lasers for hair removal on skin types 1–6. This combination renders this particular model exceptionally good at treating fine and fair hair, especially on the face.
Thus, the introduction of laser hair removal devices with combined modalities boosts the overall laser hair removal market growth.
Future Trend
Advancements in Laser Hair Removal Products is a future trend for laser hair removal market
Manufacturers in the laser hair removal market are increasingly focusing on the advancement of products to maintain the competitive environment in the market.
In October 2022, Sensus Healthcare, Inc. introduced the portable Silk by Sensus hair removal system at the Fall Clinical Dermatology Conference. Silk by Sensus includes a portable diode laser with 2000W power, a lightweight handpiece, high repetition rates, and a super-cold cooling tip. The system blends wavelengths while emitting light vertically toward the skin. Its ability to sustain the density of the laser in a selected area, results in deeper and better penetration along with more homogeneous energy distribution, ultimately resulting in greater efficiency.
In April 2021, Medical U&A, a subsidiary of Osaka-Gunze Limited, obtained government approval to produce and sell the long-term hair reduction diode laser named MeDioStarMonolith in Japan. The company launched the product in April 2021.
In June 2020, Cynosure launched the Elite iQ platform, which is the next generation of the Elite+ Aesthetic Workstation. Elite iQ platform is designed to offer customized laser hair removal treatments based on a skin type and permanently reduce unwanted hair present anywhere on the body, including the face, chest, back, arms, bikini area, underarms, and legs.
Such strategic initiatives are trends for the market players to attain a significant position in the laser hair removal market.
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Laser Hair Removal Market: Strategic Insights
Market Size Value in US$ 539.44 million in 2022 Market Size Value by US$ 1,465.70 million by 2030 Growth rate CAGR of 13.31% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Laser Hair Removal Market: Strategic Insights
| Market Size Value in | US$ 539.44 million in 2022 |
| Market Size Value by | US$ 1,465.70 million by 2030 |
| Growth rate | CAGR of 13.31% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Laser Type-Based Insights
Based on laser type, the laser hair removal market is segmented into Alexandrite laser, diode laser, and Nd:YAG laser and others. The diode laser segment held the largest market share in 2022. The segment is also expected to record a significant 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 800nm 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.
Product Type-Based Insights
Based on product type, the global 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 is on the rise owing to the increasing availability of various laser treatment options for aesthetic and medical indications. 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, have been available worldwide for a few years now, and they have proven to be more effective than single-wavelength lasers. The combined effect of these wavelengths has been shown to produce better results compared to single-wavelength lasers. The latest Alexandrite and Nd:YAG combined wavelength technology has opened up possibilities for more comprehensive indications, including laser hair removal on vascular and pigmented body surfaces.
End User-Based Insights
In terms of end user, the laser hair removal market is segregated into beauty clinics, dermatology clinics, hospitals, and home use. The beauty clinics segment held the largest share of the market in 2022, and it is anticipated to register the highest CAGR during 2022–2030. 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. According to the American Academy of Dermatology, laser hair removal performed by inexperienced individuals may lead to burns, permanent changes in skin color, and scarring. Therefore, skilled medical professionals employed in dermatology clinics, having extensive knowledge of skin and laser technology, play an important role in mitigating the possibility of these side effects and ensuring an effective treatment. With the need for specialized dermatology treatments, patients tend to visit specialty dermatology clinics for rapid and effective hair removal services. A few of the certified clinics operating in different parts of the world include Tulsa Dermatology Clinic, Australian Skin Clinic, and Olivia Hair and Skin Clinic.
A beauty clinic is a healthcare facility that mainly offers outpatient services. Services provided by a beauty 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 Market, by Laser Type – 2022 and 2030
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis
The North America laser hair removal market is segmented into the US, Canada, and Mexico. Cynosure Inc.; Lumenis; LUTRONIC; and Candela Corporation are among the major market players in the US. These companies are involved in product development and launches to remain at the top position in the market. The growth of the laser hair removal market in the US is attributed to the increasing cases of hirsutism, PCOS, and related disorders, and the rising number of hair removal treatments in the country. According to Boston Children’s Hospital, ~8% of women in the US are affected by hirsutism, a condition in which women experience excessive hair growth in areas such as the face, chest, and back. Thus, laser hair removal treatments have gained significant traction in the country. As per the Plastic Surgery Statistics Report released by the American Society of Plastic Surgeons, 757,808 laser hair removal treatments were performed by plastic surgeons in 2020 in the US.
The report profiles leading players operating in the global laser hair removal market. These include 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. 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.
In May 2023, Alma Lasers Ltd opened its fifth “Alma Academy” at an event held in Lago Maggiore in Italy, from May 4 to May 6, which was attended by physicians from 46 countries. Before Italy, the company had Alma Academies in countries such as Greece, North America, Spain, and Dubai. Through these initiatives, leading experts in the field of medical aesthetics come together and share their recent research and case studies.
In September 2021, Sciton launched the new BARE HR Platform, reinventing the standards for quick hair removal. BARE HR, the fastest laser hair removal technology available in the market, provides highly customized hair removal solutions for all skin types on different body parts, at any time of the year.
Company Profiles
- Alma Lasers Ltd
- Cutera Inc
- Candela Corp
- Cynosure Llc
- Sciton Inc
- Citation Spectrum Llc
- Sinclair Pharma Ltd
- Lutronic Co Ltd
- Lumenis Be Ltd
- Vertex Lasers Inc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Laser Type, Product Type, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Laser hair removal employs a process called selective photo-thermolysis to remove hair. The laser emits heat that destroys cells with a lot of pigment or color. The heat emitted by the lasers destroys the hair follicles which prevents hair from growing.
Key factors that are driving the growth of this market are increasing number of hair removal procedures and combination of different modalities in laser hair removal.
The multiple standard wavelength segment dominated the global laser hair removal market and held the largest market share of 61.87% in 2022.
The CAGR value of the laser hair removal market during the forecasted period of 2020-2030 is 13.31%.
The diode laser segment held the largest share of the market in the global laser hair removal market and held the largest market share of 45.28% in 2022.
The Laser Hair Removals market majorly consists of the players such as 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. 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
Global laser hair removal market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. North America held the largest market share of the laser hair removal market in 2022. With rising demand in the cosmetic surgery and advancements in aesthetics procedure, the regional market for laser hair removals market is likely to propel in North America region during the forecast period.
The List of Companies – Laser Hair Removal Market
- Alma Lasers Ltd
- Cutera Inc
- Candela Corp
- Cynosure LLC
- Sciton Inc
- Citation Spectrum LLC
- Lutronic Co Ltd
- Sinclair Pharma Ltd
- Lumenis Be Ltd
- Vertex Lasers Inc
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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