Laser Hair Removal Market: Current Analysis and Forecast (2021-2027)

The global laser hair removal market is expected to witness robust growth mainly due to the shift of the adult population towards aesthetic beauty. the presence of a wide range of products and the advent of novel and improved methods along with quick, painless, and more effective procedures attract people towards laser treatment over the traditionally available techniques. For instance, SL Aesthetic Clinic in Singapore has launched an innovative new laser hair removal treatment method using a medical-grade Fotona Laser. The market is expected to grow significantly in the analyzed period. The awareness regarding the laser hair removal technique coupled with the growing population can contribute to the market growth.

Based on product type, the Laser Hair Removal Market is segmented into ND: YAG, diode, alexandrite, and others. In 2020, ND: YAG dominated the market and is expected to maintain its dominance throughout the forecast period. Advanced and effective technology overcomes the disadvantages of other techniques. The mechanism of the ND: YAG is different from other available laser methods laser which target the carbon the pigment present on the follicle and destroy the hair completely. Carbon pigment absorbs laser more efficiently in comparison with melanin that is targeted by other methods.

Based on end-user, the market is segmented into beauty clinics, hospitals, medical spas & specialty clinics, and others. In 2020, Beauty clinics emerge as the major segment because of the ease in accessibility and their specialization in the aesthetic field. The beauty clinics seem to be the best alternative to the healthcare centers because they specialize in the fields related to beauty and related services. Furthermore, the beauty clinics also mitigate the risk of healthcare-associated infections, common in hospitals. In addition, developing the infrastructure of the beauty clinics due to the increase in the customer base also made them ideal players in the laser hair removal market.

For a better understanding of the market, the report is analyzed based on different regions including North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific); and Rest of World. The Asia Pacific is expected to witness exponential growth because the region consists of developing nations such as China, Japan, India, Australia, and the rest of the Asia Pacific. In addition, this region is also witnessing high population growth which is also a key factor to influence the market size in the region.

Some of the major players operating in the market include Venn Healthcare Ltd, Venus Concept Inc., Lumenis Be Ltd., Cynosure, Cutera, Inc., Candela Corporation, Lynton lasers, and Alma Lasers, Fotona d.o.o., Lutronic Inc.