Pune, India, Nov. 10, 2023 (GLOBE NEWSWIRE) -- The global laser hair removal market growth is attributed to the increasing number of hair removal procedures and combination of different modalities. However, side effects of laser hair removal procedures hinder the market growth.
According to our new research study on “Laser Hair Removal Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Laser Type (Alexandrite Laser, Diode Laser, Nd:YAG Laser, and Others), Product Type (Multiple Standard Wavelengths and Specific Standard Wavelengths), End User (Beauty Clinics, Dermatology Clinics, Hospitals, and Home Use), and Geography (North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa),” the laser hair removal market share to reach $1.46 billion by 2030 from $0.539 billion in 2022. The market is estimated to grow at a CAGR of 13.31% from 2022 to 2030.
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Global Laser Hair Removal Market: Competitive Landscape and Key Developments
Alma Lasers Ltd, Cutera Inc, Candela Corp, Cynosure Llc, Sciton Inc, Citation Spectrum Llc, Sinclair Pharma Ltd, Lutronic Co Ltd, Lumenis Be Ltd, and Vertex Lasers Inc are among the leading companies operating in the laser hair removal market. These players focus on expanding and diversifying their market presence and acquiring a novel customer base, tapping prevailing business opportunities in the laser hair removal market. Companies are launching new products in the lase hair removal market.
In February 2022, Sinclair announced the acquisition of Viora Pharma Ltd. to expand its product portfolio. The acquisition has helped Sinclair gain a direct commercial base in the US.
In September 2021, Sciton reinvents the standards for quick hair removal with the new BARE HR Platform. As the fastest laser hair removal technology available in the market, BARE HR reinvents the process and makes it highly customizable and suitable for all skin types and body areas, at any time of a year.
In January 2020, Lumenis Be Ltd launched LightSheer Quattro. The product was launched in Paris, France, at the 22nd International Master Course on Aging Science (IMCAS) conference held from January 30th to February 1st. The product was launched in France after the successful launch in the US in 2019.
Combination of Different Modalities Drives Global Laser Hair Removal Market:
Many lasers and intense pulsed light (IPL) modalities have been introduced to treat multiple skin types and concerns. The combination of these modalities has emerged as one of the most recent and notable innovations in the laser hair removal market. The Duetto MT Evo from Lynton Lasers combines and delivers simultaneous emission of both a true Alexandrite 755 nm laser and Nd: YAG 1064 nm laser, which are individually considered as the gold standard lasers for hair removal on skin types 1–6. This combination renders this particular model exceptionally good at treating fine and fair hair, especially on the face.
The Quanta Systems Thunder MT system from Advanced Esthetics Solutions blends Alexandrite and Nd: YAG, delivering outstanding results in a wide range of treatments. The system uses both these wavelengths in simultaneous, sequential and singular modes, depending on the treatment and customers' needs. Optiscan TH head incorporated in Thunder TH allows for semiautomatic treatment of wide scanning areas, reducing the treatment time and making it more effective. Thunder is suitable for hair removal applications for all skin types. It is also used to treat vascular lesions, skin rejuvenation, pigmentation, and onychomycosis, among other issues. Thus, the introduction of laser hair removal devices with combined modalities boosts the overall laser hair removal market growth.
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Global Laser Hair Removal Market – Industry Overview:
Global Laser hair removal market is segmented by region into North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. The North America Laser hair removal market has been segmented into the US, Canada, and Mexico. The growth of the laser hair removal market in the US is attributed to the increasing cases of hirsutism, PCOS, and related disorders, and the rising number of hair removal treatments in the country. According to Boston Children’s Hospital, ~8% of women in the US are affected by hirsutism, a condition in which women experience excessive hair growth in areas such as the face, chest, and back. Thus, laser hair removal treatments have gained significant traction in the country.
Based on laser type, the Laser Hair Removal market is segmented as Alexandrite laser, diode laser, Nd:Yag laser, and others. The diode laser segment held the largest market share in 2022 and is anticipated to be the fastest growing segment with the CAGR of 14.25%. A diode laser is a type of semiconductor laser that produces a coherent projection of light in the visible infrared range. It uses a narrow-spectrum light beam to target specific chromophores in the skin. Compared to Ruby and Alexandrite laser systems, among others, the 800nm diode laser wavelength offers deeper penetration levels and superior melanin absorption. These unique characteristics make diode lasers the most suitable technology for laser hair removal, allowing for safe and effective treatment of all skin and hair types in different areas of the body. In June 2020, Venus Concept Inc. received FDA 510(k) clearance for marketing and selling Venus Epilate, the company’s diode laser hair removal device that is intended for hair removal and permanent hair reduction, along with the management of complications such as pseudo folliculitis barbae.
An Alexandrite laser employs an Alexandrite crystal as its laser medium to produce light of a specific wavelength of 755 nm in the infrared spectrum. High-energy light emitted by the laser is subsequently converted into heat energy that damages the target area, resulting in the precise destruction of the lesion. In the hair removal process, light pulses generated by Alexandrite laser are used to target hair follicles, causing the hair to fall out as well as preventing further growth. This method can be used in any part of the body, including underarms, bikini lines, face, neck, back, chest, and legs.
Go through further research published by The Insight Partners:
Hair Removal Products Market - Global Analysis and Forecast to 2028
Hair Removal Devices Market - Global Analysis and Forecast to 2030
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