The Global Hair Removal Device Market Size accounted for USD 1,198.6 Million in 2021 and is projected to achieve a market size of USD 2,839.9 Million by 2030 rising at a CAGR of 10.1% from 2022 to 2030. The market is driven by development in beauty awareness predominantly among women has pushed the growth the hair removal device market.
Hair Removal Device Market Report Statistics
Global Hair Removal Device Market Dynamics
Hair Removal Device Market Report Coverage
|Market||Hair Removal Device Market|
|Hair Removal Device Market Size 2021||USD 1,198.6 Million|
|Hair Removal Device Market Forecast 2030||USD 2,839.9 Million|
|Hair Removal Device Market CAGR During 2022 - 2030||10.1%|
|Hair Removal Device Market Analysis Period||2018 - 2030|
|Hair Removal Device Market Base Year||2021|
|Hair Removal Device Market Forecast Data||2022 - 2030|
|Segments Covered||By Product, By End-User, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Sciton, Inc., Solta Medical, Inc., Cynosure, Inc., Syneron Medical Ltd., Lumenis, Alma Lasers, Venus Concept Canada Corp., Viora, Lutronic, and Cutera.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Hair Removal Device Market Growth Factors
Accessibility of technically progressive products has also played a significant role in optimistically impacting the development of the hair removal devices market. New laser devices emit longer wavelengths of light, allowing them to emphasis only on the melanin present in hair follicles. This eradicates the risk of skin burns. All these factors are anticipated to drive development of the hair removal devices market during the forecasted period from 2022 to 2030.
Increase in awareness about grooming paired with increase in disposable income is the key factors driving the growth of the hair removal device market. Also, with growing inclination towards fashionable and trendy looks is the reason for the growth of the hair removal devices market.
Hair Removal Device Market Insights
Growing availability of technologically progressive products is expected to boost their effectiveness, and in turn, need in near future. Such as, consistent developments in laser methods have augmented their effectiveness and cost-effectiveness. Side effects and efforts to reduce pain associated with hair removal are on the increase. Device manufacturers’ emphasis on emerging products, which deliver relief from hair development for a longer period of time. Such as, introduction of dermal cooling technology in laser treatment lowers the chances of side effects. Such progressions paired with consumer consciousness are expected to drive the hair removing device market.
Hair Removal Device Market Segmentation
The global hair removal device market is segmented based on product, end-user, and geography.
Hair Removal Device Market By Product
According to our industry analysis of hair removal device market, laser sub-segment gathered one of the most significant market shares in 2021 and is expected to continue its trend during the forecasted timeframe from 2022 to 2030. The rapid growth in the market is due to the widespread use of these products due to their rapid treatment results. Furthermore, intense pulse light accounted for the second largest market share, owing to their increasing popularity as home-use devices.
Hair Removal Device Market By End-User
As per our hair removal device market forecast, the beauty clinics segment led the market in 2021, accounting for more than 50% of total revenue, as a large number of people chose to undergo hair removal methods at beauty clinics. Furthermore, people prefer to visit beauty clinics to have other procedures done to improve their aesthetic appeal.
Hair Removal Device Market Regional Outlook
The Middle East & Africa
Hair Removal Device Market Regional Analysis
North America emerged dominant in 2021, due to accessibility of technologically progressive products and high consciousness concerning physical grooming. Surge in the usage of laser hair removal devices in U.S. for fast and effective results is one of the important factors contributing to the nation’s dominance. Development in popularity of hair removal cures and accessibility of skilled dermatologists in European nations are some of the parameters expected to drive the regional need.
Asia-Pacific is anticipated to exhibit important development over the forecast timeframe owing to growing disposable income and need for cost-effective hair removal devices. Increasing beauty awareness in emerging nations is also expected to create development opportunities in the unused markets of Asia-Pacific region.
Hair Removal Device Market Players
Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. The major players associated with the Hair removal device market are Sciton, Inc., Solta Medical, Inc., Cynosure, Inc., Syneron Medical Ltd., Lumenis, Alma Lasers, Venus Concept Canada Corp., Viora, Lutronic, and Cutera.
The market size of hair removal device market in 2021 was accounted to be USD 1,198.6 Million.
The projected CAGR of hair removal device market during the analysis period of 2022 to 2030 is 10.1%.
The prominent players of the global hair removal device market include Sciton, Inc., Solta Medical, Inc., Cynosure, Inc., Syneron Medical Ltd., Lumenis, Alma Lasers, Venus Concept Canada Corp., Viora, Lutronic, and Cutera.
North America held the dominating hair removal device during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for hair removal device during the analysis period of 2022 to 2030.
Growing awareness of grooming among people, surging demand for minimally invasive surgeries, and increasing popularity of beauty clinics and dermatology clinics drives the growth of global hair removal device market.
Based on product, laser segment is expected to hold the maximum share hair removal device market.