• Stacy Lawlor

Global Laser Hair Removal Market Size to grow $1,619.7 million in 2028


Global Laser Hair Removal Market Size to grow  $1,619.7 million in 2028

The Global Laser Hair Removal Market Size was valued at USD 483.0 million in 2020 and is expected to grow by USD 1,619.7 million in 2028 at a CAGR of 16.7%. The growing trend of developed and emerging countries to improve their living standards bodes well for the medical aesthetics sector, particularly the laser hair removal industry. The combination of rising disposable income and a growing desire to improve external appearance, particularly among women, has resulted in to surge in laser hair removal treatment demand. Hair removal with laser equipment is one of the top 5 non-surgical treatments, accordance to the American Society of Aesthetic Plastic Surgery. The fact that people have seen a 90% reduction in hair growth is the key factor responsible for the market's extraordinary growth opportunity. Therefore, the effectiveness of laser hair removal devices has led to a surge in market value and size in terms of revenue.

Global Laser Hair Removal Market Size

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It seems that the present COVID-19 pandemic will endure for a long period, requiring people all across the world to adhere to strict laws. This finally had an impact on the aesthetic sector. Hair removal treatment requires medical practitioners to operate on a personal basis, although many medical businesses offer online consultations. Many governments have permitted beauty clinics to open, but others have enforced a complete ban to prevent COVID-19 spread. This factor has negatively impacted the demand for laser hair removal treatments during the pandemic.


Increasing Focus on Development of Combination Devices to Aid Growth


The most recent trend in the laser hair removal market is the company’s efforts to launch effective products that combine multiple technologies. The current method, which combines several items, is perfect for treating blue veins that are resistant to Nd: YAG alone. In addition, the mixed technology helps to remove hair in a single process. For instance, the Duetto MT Evo Lynton Laser provides alexandrite 755 nm and Nd: YAG 1064 nm at the same time. Venus Concept's Venus Velocity laser combines a diode laser with cooling technology for excellent hair removal and reduction. Such innovations are projected to increase demand for the product during the forecast period.


Technological Advancements in Products is Propelling Growth of the Market


Hair removal technology has drastically advanced from lasers to intense pulsed light (IPL) over the years. The first laser aesthetic device for hair removal was the ruby laser, which was created in 1960. Rapid advances in the hair removal industry have boosted the adoption of these devices since then. With lasers like a diode, Nd: YAG, and others, these devices can now reduce hair growth by 90-95%. Furthermore, the laser's improved cooling technology makes it more comfortable for patients. Motus AY launched the world's most innovative laser hair removal technology in January 2020. A high-speed Alexandrite laser is used on the platform, which benefits both light and dark skin tones. Such innovations and advancements are anticipated to drive market growth.


The Asia Pacific is the largest market for laser hair removal treatment due to changing lifestyle preferences, Increased laser hair removal procedures, and growing disposable income. The rising awareness of hair loss issues, as well as the introduction of improved products in this region, would help the growth of the market.

Global Laser Hair Removal Market Size

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North America is expected to second-largest market for laser hair removal owing to technological improvements in the aesthetics industry, leading to the development of advanced hair removal products and large spending by Americans.


Europe is expected to third-largest market for laser hair removal owing to government support and favorable reimbursement policies. Latin America & the Middle East & Africa accounted for a comparatively lower share of the market owing to the presence of a huge untapped market.


KEY INDUSTRY DEVELOPMENTS:


In May 2020, Cervello, a laser-powered hair removal medical gadget, was launched by Lira Style. The gadget uses a combination of Alexandrite, diode, or Nd: YAG to remove hair from all skin types.


April 2020, During the COVID-19 pandemic, Aldi Australia announced the availability of a DIY laser hair removal device to give patients with a continuation of their hair removal treatment.


Read More Details On This Report:

https://extrapolate.com/Healthcare-Medical-Devices-Biotechnology/laser-hair-removal/25636

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