The global laser hair removal market value is accounted over USD 3.9 Billion by 2026 and is expected to grow at CAGR 15.4% during the forecast period 2019-2026.
The global laser hair removal product market is driven by increased awareness regarding personal appearance and rising health awareness among the population. Additionally, improved standard of living and rising disposable income tremendously affects the laser hair removal market growth positively. Furthermore, government supportive activities in emerging economies have been enforcing the companies to develop advanced products that lead to efforts from various multinational corporations, thereby rising overall consumption of hair removal products in last few years. Moreover, technological discoveries owing to continuous R&D in the area of processing and cost-effective production have boosted the laser hair removal market growth. However, availability of advanced beauty treatments, a high cost of organic cosmetics and fluctuation in crude material supply might act as an obstacle to the laser hair removal market growth. Increasing administrative support and regulations will incorporate significant growth opportunities for key players operating in the laser hair removal market.
The market research study on “Laser Hair Removal Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Laser hair removal market. The report also analyzes the key players operating in Laser hair removal market and identifies the key strategies deployed by them along with the market share of leading players.
The global Laser hair removal market is segmented as below:
Laser hair removal Market By End User
Laser hair removal Market by Geography
The key trends supporting the laser hair removal market growth includes increasing concern about the beauty and increasing disposable income of the people.
The laser hair removal is segmented by end user.
On the basis of type, the global laser hair removal is segmented into dermatology clinics, beauty clinics and others. Dermatology clinics dominates the global laser hair removal market owing to high adoption of laser hair removal devices, and most preferred place for the treatment by people.
Geographically, the laser hair removal market is segmented into North America, Europe, Asia Pacific, (LAMEA).
North America is expected to hold major market share during forecast period owing high health consciousness and increased awareness among customers with great contribution from U.S. Additionally, increasing number of hair surgeries coupled with the high spending have supported the growth of the North America laser hair removals market across the globe. U.S. holds the major share of over 70% in North America laser hair removals market. According to the American Society for Aesthetic Plastic Surgery (ASAPS) statistics, around 1.03 million hair removal procedures were performed in 2016. Mexico and Canada is experiencing lucrative growth opportunities credited to rising consumption of laser hair removal products and new product launches by FMCG manufacturers. Continually increasing spending power of the people and development of the economy in Mexico have boosted the market growth.
Europe is expected to second leading position in the global laser hair removal market. Adoption of advanced devices, well awareness among the people for beauty and huge spending of the people are the major drivers of the laser hair removal market. Favorable government support and better reimbursement policies for the devices have supported the laser hair removal market growth.
Asia Pacific is expected to be fastest growing market for laser hair removal owing to the presence of huge population and changing lifestyle are major diving factor in this region. Increased GDP, modern lifestyle pattern, the purchasing power of end-user and rising concerns about UV effects, aging and hair fall problems in the region have boosted the growth of the Asia Pacific laser hair removal market. Moreover, presence of rapidly developing economy, rising government support and increasing spending have supported the growth of laser hair removal market in Asia Pacific. India and China holds the major share in the Asia Pacific laser hair removals market owing to the increasing spending power of the people and rising awareness and concern about beauty.
The LAMEA laser hair removal market is majorly driven by increasing awareness regarding availability of advanced laser hair removal products, and changing lifestyle of the people. Rising geriatric population, and increasing number of hair transplant surgeries have supported the growth of the laser hair removal market.
Some of the major players analyzed and profiles in this market include Hologic, Inc(Cynosure), Apax Partners(Syneron Candela), Fosun Pharma (Sisram), XIO Group (Lumenis), Elen s.p.a, Cutera, Lutronic, Venus Concept, Miracle Laser Systems Inc, Valeant Pharmaceuticals (Solta Medical Inc), Viora, Fotona, Sciton Inc, Lynton Lasers Group, and Sharplight Technologies Ltd
Increased awareness regarding personal appearance and rising health awareness among the population are main driver of the laser hair removal market.
According to the Acumen Research and Consulting, the laser hair removal market value is anticipated to be hit around US$ 3.9 billion in 2026.
The laser hair removal market is anticipated to grow over 15.4% CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for laser hair removal market.
Hologic, Inc(Cynosure), Apax Partners(Syneron Candela), Fosun Pharma (Sisram), XIO Group (Lumenis), Elen s.p.a, Cutera and Lutronic are the top players operating in the laser hair removal market.