Hair Removal Device Market Size is Expected to Reach at USD 2,840 Million by 2030, Registering a CAGR of 10.1%, Owing to Increasing Awareness of Personal Grooming
The Global Hair Removal Device Market Size is predicted to reach USD 2,840 Million by 2030 from USD 1,199 Million in 2021, at a CAGR of 10.1% between 2022 and 2030, as per the Acumen Research and Consulting
In recent years, the hair removal device industry has evolved due to the development of new technology such as laser and IPL (intense pulsed light) devices, which are becoming increasingly popular for at-home use. These devices have been demonstrated to be successful for long-term hair removal by using heat energy to destroy the hair follicle and limit regrowth. Additionally, the industry has experienced an increase in the usage of threading and sugaring hair removal procedures, which are thought to be gentler alternatives to standard waxing. The hair removal device market size is expected to grow further in the coming years as a result of factors such as rising demand for hair removal products, increased awareness of the benefits of hair removal, and the development of new and better technologies.
Hair Removal Device Market Statistics
- Global hair removal device market value was worth USD 1,199 Million in 2021, with a 10.1% CAGR from 2022 to 2030
- According to the American Society of Plastic Surgeons (ASPS), there were 1.1 million laser hair removal operations performed in the United States in 2019
- North America hair removal device market share occupied around 36.1% in 2021
- By product, the laser segment capture over 45.9% of total market share in 2021
- Syneron is a global leader in the aesthetic device market, offering a wide range of hair removal devices, including laser and intense pulsed light (IPL) devices
- Increasing demand for home-use devices, propels the hair removal device market revenue
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Hair Removal Device Market Trends
In the coming years, the market for hair removal devices is predicted to expand. Hair removal devices are electronic devices that are used to get rid of unwanted hair. These devices target hair follicles and prevent hair growth using multiple techniques such as intense pulsed light (IPL), laser, and electrolysis. Some of the widely accepted types of hair removal devices include at-home laser hair removal devices, IPL devices, and electrolysis devices. Factors driving market expansion include rising disposable income and the availability of improved hair removal equipment. Furthermore, the growing number of beauty spas and salons offering hair removal services is expected to propel the hair removal device market expansion.
Growing Adoption in Beauty Salons and Clinics Drives the Hair Removal Devices Market Growth
One of the primary drivers of the hair removal devices market is increasing acceptance in beauty salons and clinics. Beauty salons and treatment centers provide a wide range of hair removal services, including laser hair removal, intense pulsed light (IPL) hair removal, and radiofrequency (RF) hair removal. As more people are becoming conscious of their appearance, they are increasingly seeking long-term solutions for hair removal. Beauty salons and clinics provide a simple and professional solution to this requirement, with skilled specialists who can remove unwanted hair effectively and safely using modern hair removal technology.
In addition, beauty salons and clinics are able to offer hair removal services at a significantly lower cost compared to in-office visits to dermatologists or other medical specialists. This has enhanced the popularity of hair removal devices in various settings and made them more accessible to many people. Overall, the increasing use of hair removal devices in beauty salons and clinics is likely to boost market expansion as more people seek out these services to obtain smooth, hair-free skin.
Hair Removal Device Market Segmentation
Acumen Research and Consulting has segmented the global hair removal device market by product, and end-user.
- Based on the product, the industry is classified into intense pulse light, laser (alexandrite laser, diode laser, and Nd: YAG laser), and other energy-based.
- Based on the end-user, the market is divided into beauty clinics, home use, and dermatology clinics. According to the hair removal device market forecast, the beauty clinics segment is estimated to grow significantly over the next several years.
Hair Removal Device Market Regional Overview
Geographically, the worldwide hair removal device market is segmented into Europe, Latin America, North America, Asia Pacific, and the MEA. According to a hair removal device industry analysis, North America emerged dominant in 2021. This growth is attributed to the availability of technologically sophisticated products and a high level of awareness about physical grooming. The increased use of laser hair removal technologies in the United States for rapid and efficient results is one of the key elements attributing to the region's dominance.
Furthermore, Asia-Pacific is expected to see significant growth over the projection time range. This is due to rising disposable income as well as the demand for low-cost hair removal technologies. Rising beauty consciousness in developing nations is also anticipated to open up development opportunities in the developing Asia-Pacific regions.
Hair Removal Device Market Players
Some of the leading hair removal device market companies include Alma Lasers, Cutera, Sciton, Inc., Viora, Cynosure, Inc., Lumenis, Venus Concept Canada Corp., Syneron Medical Ltd., Lutronic, and Solta Medical, Inc.
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