Laser Hair Removal Market Size, Trend, Demand Analysis Till 2032 (2024)

Laser Hair Removal Industry Overview

The global laser hair removal market size was USD 694.5 million in 2022 and is expected to register a rapid revenue CAGR of 16.1% during the forecast period. Rising awareness regarding the benefits of laser hair removal and use of laser hair removal procedures before certain surgical procedures and ongoing advancements in laser technology are key factors driving market revenue growth.

Laser Hair Removal Market Drivers

Laser hair removal involves the treatment of issues related to physical appearance of a person through either surgical procedures or non-surgical procedures. Medical technology is shaping the future of cosmetic industry, which includes significant advancements in hair removal technology such as integration of lasers. Laser hair removal methods have emerged because of new findings in the beauty and wellness sector.

In addition, demand for qualified dermatologists to suggest better and more effective hair removal methods is rising as they provide long-term effective results. Even though there are various products that are accessible in the market, the microdermabrasion services recommended by dermatologists are increasing because of the effectiveness of this kind of hair removal treatment.

The increasing Research & Development (R&D) activities for therapeutics application of lasers and rising occurrence of aesthetic issues are other key factors driving revenue growth of the market. For instance, in 2020, as per the American Society of Plastic Surgeons (ASPS), almost 10.4 million minimally invasive strategies including facial revival were performed among females in the U.S.

Furthermore, increasing quality of care, improved professional services, and accessibility of minimally invasive medical procedures by highly qualified aesthetic specialists are also expected to drive market revenue growth during the forecast period.

Laser Hair Removal Market Restraints

The popularity and accessibility of alternative hair removal methods is a key factor, which could restrain market revenue growth. Traditional approaches, such as shaving, waxing, and depilatory creams, offer immediate results at a lower cost, making these more appealing to price-conscious consumers. The convenience and ease of use associated with these methods further contribute to their widespread adoption.

In addition, the perceived pain and discomfort associated with laser hair removal, along with the necessity for multiple sessions, can deter individuals from committing to this technology. Moreover, lack of awareness regarding long-term benefits of laser hair removal compared to traditional methods is another factor, which could restrain market revenue growth.

Laser Hair Removal Market Segment Insights

Laser Hair Removal Laser Type Insights:

On the basis of laser type, the global laser hair removal market is segmented into diode, Nd:YAG, and alexandrite.

Dominance of Diode Lasers Segment:

The diode lasers segment accounted for largest market share in the global laser hair removal market in 2022 due to rising demand for these types of laser hair removal among users owing to their effectiveness, safety, and versatility. Diode lasers can precisely target specific body areas, effectively removing hair without causing harm to the surrounding skin. In addition, rising demand for the product is attributed to quick and efficient hair removal process, tailored according to the body area and hair volume.

Diode lasers are also known for their versatility, making these suitable for various skin types and hair colors. The relatively larger spot size of diode lasers allows for quicker treatment sessions, making a preferred choice for larger areas such as back or legs. Moreover, diode lasers often feature advanced cooling mechanisms, enhancing patient comfort during the procedure.

Steady Growth for Nd: YAG Lasers Segment:

The Nd: YAG lasers segment is expected to register steadily fast market growth rate in the global laser hair removal market during the forecast period. This is because Nd: YAG lasers are longer frequency lasers radiating 1,064nm frequency, which are most suitable for individuals with darker skin tones. Nd: YAG lasers are delivering more secure and improved results on terminal and halfway hairs, subsequently filling the development of this section.

In addition, key technological upgrades and innovative product launches by major market companies are also expected to drive revenue growth of this segment during the forecast period.

Laser Hair Removal Gender Insights:

On the basis of gender, the global laser hair removal market is segmented into male and female.

Dominance of female Segment:

The female segment is expected to account for significantly large market share in the global laser hair removal market during the forecast period due to increasing importance of better physical appearance combined with rising number of aesthetic procedures. Laser hair removal offers a long-term solution by targeting hair follicles, resulting in a reduction in hair growth over time. This appeals to women seeking a more convenient and lasting alternative to traditional methods such as shaving or waxing.

In addition, procedure's effectiveness in achieving smoother skin and the elimination of ingrown hairs also contributes to its popularity. Moreover, the busy lifestyles of many women make the time-saving aspect of laser hair removal attractive, as it eliminates the need for frequent and time-consuming grooming rituals.

Laser Hair Removal End-Use Insights:

Laser Hair Removal Market: End-Use Dynamics (USD Million)

On the basis of end use, the global laser hair removal market is segmented into beauty clinics, dermatology clinics, and home use.

Moderate Growth for Beauty Clinics Segment:

The beauty clinics segment is expected to register moderately fast market growth rate in the global laser hair removal market during the forecast period due of their broad frameworks, different scope of methodology, specialized expertise, cooperative consideration approach, exploration, and development. Beauty clinics have trained professionals for handling these treatments giving a complete scope of services to address and satisfy the issues of different patients. These clinics are increasingly sought after for their professional expertise and access to advanced laser technologies.

Laser Hair Removal Regional Insights:

Laser Hair Removal Market: Regional Share

Laser Hair Removal North America Market

North America accounted for largest market share in the global laser hair removal market in 2022 due to rising use of laser hair removal in different aesthetic systems in the region. In addition, in the past few years, there has been a quick progression in clinical and aesthetic techniques. The cutting-edge innovations have presented many arrangements and products to patients looking for clinical help.

Moreover, rising number of millennials spending more on superficial products to maintain their appearance. is also expected to drive market revenue growth of this region during the forecast period.

Furthermore, major market companies are upgrading their existing product portfolios, which is another factor driving market revenue growth of this region. For instance, on 22 February 2023, Milan Laser Hair Removal (‘Milan Laser‘), the largest laser hair removal provider announced new strategic growth equity investments from Sixth Street, a leading global investment firm, and Wildcat Capital Management. Existing investor, Leonard Green & Partners, L.P. (‘LGP‘), along with the co-founders, will retain a majority interest in the company. This investment will support the acceleration of clinic expansion, marketing, and business development.

Laser Hair Removal Europe Market

Europe accounted for second largest market share in the global laser hair removal market in 2022. This is due to developing laser hair removal methodology and presence of developed countries such as the UK, France, and Germany. The interest in laser hair removal is maximum from countries such as Germany, France, Netherlands, and the UK. These countries have a greater population that experiences outrageous weather patterns and causing dry skin in individuals living in these regions.

In addition, major market companies focusing on investments in laser hair removal treatments is also expected to drive market revenue growth of this region during the forecast period.

For instance, on 16 November 2023, Kartesia, a leading European specialist provider of financing solutions, announced its additional growth capital to support the acquisition of MyDerma by Cosmetique Totale, a portfolio company of Netherlands-based private equity firm BB Capital Investments (‘BB Capital‘). Kartesia and BB Capital first partnered in 2022 to provide the necessary financing for Cosmetique to expand its footprint in the European market outside of the Benelux region.

Laser Hair Removal Asia Pacific Market

Asia Pacific is expected to account for considerably large market share in the global laser hair removal market during the forecast period. This is due to rising consumer demand, skincare culture, innovative product offerings, robust manufacturing capabilities, regulatory environment, e-commerce, social media influence.

In addition, rising demand for effective hair removal solutions in countries, such as China and India, is also expected to drive market revenue growth of this region during the forecast period.

Moreover, increasing need for enhanced skin quality in this area, driven by shifting climatic conditions and adoption of unhealthy lifestyles, is prompting companies to introduce upgraded and innovative product offerings in this market.

For instance, on 14 December 2021, to facilitate its expansion in the Asia region, Laser Clinics is introducing Laser Clinics Asia, a novel aesthetic clinic coupled with an engaging retail environment. Situated conveniently within Parkway Parade shopping mall and covering an expansive area of nearly 1500 square feet, this clinic concept stands as the inaugural venture of its kind within the Laser Clinics Group, which boasts a global fleet of over 180 clinics. This development marks a noteworthy milestone in the Laser Clinics Group's strategic efforts to enhance its presence in the Asian market.

Laser Hair Removal Top Companies and Competitive Landscape

The global laser hair removal market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective laser hair removal solutions.

Some major players included in the global laser hair removal market report are:

• Alma Lasers
• Candela Corporation
• Cutera
• Cynosure Inc.
• Lumenis Be Ltd
• LUTRONIC
• Merz Pharma
• Sciton
• Shanghai Fosun Pharmaceutical Group Co., Ltd
• SkinMD
• Solta Medical, Inc.
• Syneron Medical Ltd.
• Venus Concept
• Viora
• Procter & Gamble
• Ulike
• Laser Clinics
• Kartesia
• Tria Beauty
• Lynton Lasers Ltd

Laser Hair Removal Latest Industry News

• On 21 October 2021, LaserAway, a leading provider of aesthetic dermatology, announced the strategic investment made by funds managed by the Private Equity Group of Ares Management Corporation. This collaboration will support the ongoing nationwide growth of LaserAway, enhance customer loyalty through the newly introduced rewards program LaserLove, and promote the development of its exclusive skincare products under the brand LA Beauty.
• On 1 June 2020, Cynosure unveiled the Elite iQ platform in the United States, Europe, and Australia, marking the latest iteration of the Elite Aesthetic Workstation. This advanced platform enables quicker treatments with a higher maximum energy level compared to its predecessors. The Elite iQ platform utilizes Skintel, recognized as the sole live Melanin Reader in the aesthetic industry, to provide tailored laser hair removal treatments. This technology ensures permanent hair reduction for all skin types, extending its applicability to various body areas such as the face, back, chest, arms, underarms, bikini region, and legs.

Laser Hair Removal Report Summary

Laser Hair Removal Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global laser hair removal market on the basis of laser type, gender, end-use, and region:

• Laser Type Outlook (Revenue, USD Million; 2019-2032)

  • Diode
  • Nd: YAG
  • Alexandrite Others

• Gender Outlook (Revenue, USD Million; 2019-2032)

  • Male
  • Female

• End-Use Outlook (Revenue, USD Million; 2019-2032)

  • Beauty Clinics
  • Dermatology Clinics
  • Home Use

• Regional Outlook (Revenue, USD Million; 2019-2032)

  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa