Global Laser Hair Removal Device Market Overview
As per MRFR analysis, the Laser Hair Removal Device Market Size was estimated at 915.2 (USD Billion) in 2022.
The Laser Hair Removal Device Market industry is expected to grow from 973.68(USD Billion) in 2023 to 1,700.0 (USD Billion) by 2032. The Laser Hair Removal Device Market CAGR (growth rate) is expected to be around 6.39% during the forecast period (2024 - 2032).
Key Laser Hair Removal Device Market Trends Highlighted
Laser hair removal devices continue to gain traction in the global market, driven primarily by advancements in technology and a growing desire for non-invasive cosmetic solutions. Home-use devices have surged in popularity, offering convenience and cost-effectiveness, while medical-grade devices in clinics remain sought after for more permanent results. The market is marked by a shift towards diode lasers, favored for their efficiency and reduced side effects. Additionally, the rise of medical spas and salons specializing in laser hair removal has expanded access to these treatments.
Key market drivers include the increasing disposable income of consumers, rising awareness about aesthetic procedures, and growing acceptance of laser hair removal as a safe and effective method. Opportunities lie in the expansion of the home-use device segment, catering to the growing demand for at-home convenience. Furthermore, the introduction of innovative technologies, such as dual-wavelength lasers, presents opportunities for enhanced treatment outcomes.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Laser Hair Removal Device Market Drivers
Rising Demand for Permanent Hair Removal Solutions
The Laser Hair Removal Device Market is primarily driven by the increasing demand for permanent hair removal solutions among both men and women. The growing awareness of the benefits of laser hair removal, such as long-lasting results, precision targeting, and reduced pain compared to traditional methods, has contributed to the rising popularity of this treatment. Moreover, the increasing disposable income and willingness to spend on personal grooming and aesthetics have further fueled the market growth.The Laser Hair Removal Device Market is expected to witness continued growth in the coming years as consumers seek safe and effective hair removal solutions.
Technological Advancements and Product Innovations
The market of the laser hair removal devices is growing and changing constantly. Current manufacturers are making many investments in research and development of their devices since they strive to make them more efficient, safer to use, and more comfortable for users. With new technology being at the users’ disposal, including diode lasers, IPL or intense pulsed light devices, and improved cooling methods, both opportunities as well as discomfort and adverse outcomes of treatment are minimized to a great extent.Additionally, the portable and home-use devices enable consumers to perform the treatment on their own.
Expansion of Medical and Cosmetic Applications
Another critical factor boosting the Laser Hair Removal market development is the improving medical and cosmetic uses of this treatment. Today, it can be effectively used improving inappropriate excessive hair growth that can be conditioned with numerous issues from hormonal misbalance and other genetic abnormalities to specific medications or medical conditions. At the same time, it might also be employed in many cosmetic treatments making people’s lives and beauty procedures more comfortable: these include laser eyebrow shaping, effective facial hair removal, and luxury body contouring.
Laser Hair Removal Device Market Segment Insights
Laser Hair Removal Device Market Device Type Insights
Device Type Segment Insight and Overview The Laser Hair Removal Device Market is segmented by device type into diode laser hair removal devices, alexandrite laser hair removal devices, YAG laser hair removal devices, IPL (intense pulsed light) hair removal devices, and other laser hair removal devices. Diode laser hair removal devices are expected to dominate the market in 2023 with a revenue of USD 355.35 billion and are projected to reach USD 611.97 billion by 2032, exhibiting a CAGR of 6.54%. These devices offer high efficacy, faster treatment times, and reduced pain, making them a popular choice for professional and home use.Alexandrite laser hair removal devices are another commonly used type, known for their shorter wavelength that targets melanin more effectively. The alexandrite laser hair removal devices segment is expected to hold a significant share of the market, with a projected revenue of USD 255.73 billion by 2032, growing at a CAGR of 6.03%. YAG laser hair removal devices offer a longer wavelength, making them suitable for darker skin tones and deeper hair follicles. The YAG laser hair removal devices segment is anticipated to reach USD 187.69 billion by 2032, demonstrating a CAGR of 5.72%.IPL hair removal devices use a broad-spectrum light, making them less effective than lasers. However, they remain popular due to their lower cost and suitability for home use. The IPL hair removal devices segment is projected to reach USD 134.43 billion by 2032, growing at a CAGR of 5.24%. Other laser hair removal devices, including fiber lasers and diode-pumped solid-state lasers, are gaining traction due to their advanced features and increased versatility. The segment is expected to contribute significantly to the overall market growth, reaching USD 165.73 billion by 2032, with a CAGR of 6.18%.The choice of device type depends on factors such as skin type, hair color and texture, desired results, and cost. The increasing demand for permanent hair removal solutions, technological advancements, and growing awareness of aesthetic treatments drive the growth of the laser hair removal device market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Laser Hair Removal Device Market Application Insights
There are five applications of the Laser Hair Removal Device Market, classified based on the areas of use – facial hair removal, underarm hair removal, leg hair removal, bikini line hair removal, and other applications. In 2023, the facial hair removal category is likely to be the leading segment of the Laser Hair Removal Device Market with nearly one-third of the total revenue. The increasing demand on the part of both men and women and the proliferation of such procedures from developed countries resulting from higher disposable income, booming awareness of personal grooming, and advanced technologies characterize this segment.The next considerable field is underarm hair removal, which is also gaining popularity. Increasingly more people are becoming eager to use lasers to get rid of hair in their underarms as it is a safe and reliable alternative leading to the substantial growth of this category. At the same time, the leg hair removal and bikini line hair removal segments can also be called significant with the stable increase in the demand for all kinds of body hair removal procedures. Overall, the other applications category is not to be as strong as the previous ones with moderate growth in the future.
Laser Hair Removal Device Market End User Insights
The Laser Hair Removal Device Market is segmented by end user into dermatology clinics, cosmetology clinics, spas and salons, and home use. The dermatology clinics segment is expected to hold the largest market share in 2023, owing to the increasing demand for laser hair removal procedures in clinical settings. The home use segment is expected to grow at the highest CAGR during the forecast period, due to the rising popularity of at-home laser hair removal devices.
Laser Hair Removal Device Market Light Source Insights
The Laser Hair Removal Device Market is segmented by light source, which includes solid-state lasers, gas lasers, and semiconductor lasers. Among these, solid-state lasers held the largest market share in 2023, and it is projected to maintain its dominance throughout the forecast period. The high power and efficiency of solid-state lasers make them ideal for laser hair removal. Gas lasers are expected to witness a steady growth rate during the forecast period due to their ability to deliver consistent and precise energy. Semiconductor lasers are gaining traction in the market due to their compact size, portability, and lower cost compared to other light sources.
Laser Hair Removal Device Market Regional Insights
The Laser Hair Removal Device Market is expected to reach a valuation of 1700.0 (USD Billion) by 2032, expanding at a CAGR of 6.39 % during the forecast period (2023-2032). Regionally, North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period. The increasing prevalence of unwanted hair, rising disposable income, growing awareness about personal grooming, and advancements in laser hair removal technology drive the regional market growth. The European market is projected to grow steadily due to rising health consciousness and increasing demand for non-invasive hair removal solutions.APAC region is anticipated to witness significant growth owing to the increasing adoption of aesthetic procedures, expanding middle class, and growing awareness about laser hair removal benefits. South America and MEA markets are expected to experience moderate growth due to improving economic conditions and rising demand for cosmetic procedures.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Laser Hair Removal Device Market Key Players And Competitive Insights
The major players in Laser Hair Removal Device Market industry are adopting various competitive strategies to acquire a major share in the market. Leading players in the Laser Hair Removal Device Market are introducing innovative technologies and products to meet the growing demand for laser hair removal procedures. In the oversaturated Laser Hair Removal Device Market major players are facing stiff competition from several companies. The major companies are employing competitive strategies such as product launches, partnerships and marketing campaigns. The established players in the Laser Hair Removal Device Market are making significant investment in R to stay ahead of the competition and cater the changing customer requirements. Candela is a prominent company in the Laser Hair Removal Device Market. The company offers a variety of laser hair removal devices including GentleMax Pro and GentleLase Pro. Candela’s laser hair removal devices are used for their safety, effectiveness and versatility. The company has a strong global presence and extensive customer base. Candela provides innovative laser hair removal solution to its customers. Alma Lasers is another major company in the Laser Hair Removal Device Market. The company offers different types of laser hair removal devices such as Soprano ICE and Soprano Titanium. Alma Lasers hair removal devices are known for their speed, convenience and effectiveness. Similar to Candela, Alma Lasers has a global presence and extensive customer base. The company is introducing innovative laser hair removal solutions to its customers.
Key Companies in the Laser Hair Removal Device Market Include
- Sciton
- Quanta Systems
- Solta Medical
- Palomar Technologies
- Lumenis
- Candela Corporation
- Lynton Lasers
- Cutera, Inc.
- Sharplan Lasers, Inc.
- Fotona
- Merlin Medical
- Syneron Candela
- Cynosure
- DEKA
- Alma Lasers
Laser Hair Removal Device Market Developments
The Laser Hair Removal Device Market is projected to reach USD 1,700.0 billion by 2032, exhibiting a CAGR of 6.39% during the forecast period (2024-2032). The increasing prevalence of unwanted hair, rising disposable income, and growing awareness about personal grooming are key factors driving market growth. Technological advancements, such as the development of diode lasers and IPL devices, have enhanced the effectiveness and safety of laser hair removal procedures, further boosting market demand. The rise of home-use laser hair removal devices is also contributing to market expansion, as consumers seek convenient and cost-effective hair removal solutions. Key industry developments include the launch of innovative devices with advanced features, strategic partnerships between manufacturers and distributors, and ongoing clinical trials to assess the efficacy and safety of new laser technologies.
Laser Hair Removal Device Market Segmentation Insights
- Laser Hair Removal Device Market Device Type Outlook
- Diode Laser Hair Removal Devices
- Alexandrite Laser Hair Removal Devices
- YAG Laser Hair Removal Devices
- IPL (Intense Pulsed Light) Hair Removal Devices
- Other Laser Hair Removal Devices
- Laser Hair Removal Device Market Application Outlook
- Facial Hair Removal
- Underarm Hair Removal
- Leg Hair Removal
- Bikini Line Hair Removal
- Other Applications
- Laser Hair Removal Device Market End User Outlook
- Dermatology Clinics
- Cosmetology Clinics
- Spas and Salons
- Home Use
- Laser Hair Removal Device Market Light Source Outlook
- Solid-State Lasers
- Gas Lasers
- Semiconductor Lasers
| Report Attribute/Metric |
Details |
| Market Size 2022 |
915.2(USD Billion) |
| Market Size 2023 |
973.68(USD Billion) |
| Market Size 2032 |
1700.0(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.39% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Sciton ,Quanta Systems ,Solta Medical ,Palomar Technologies ,Lumenis ,Candela Corporation ,Lynton Lasers ,Cutera, Inc. ,Sharplan Lasers, Inc. ,Fotona ,Merlin Medical ,Syneron Candela ,Cynosure ,DEKA ,Alma Lasers |
| Segments Covered |
Device Type ,Application ,End User ,Light Source ,Regional |
| Key Market Opportunities |
Growing demand for noninvasive hair removal methods Rising popularity of homeuse laser hair removal devices Technological advancements in laser hair removal technology Expansion into emerging markets and Increasing disposable income in developing countries |
| Key Market Dynamics |
Rising consumer demand for hair removal Technological advancements Growing awareness of laser hair removal Increasing disposable income Expansion of the medical aesthetics industry |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Laser Hair Removal Device Market is expected to reach a valuation of 973.68 billion USD in 2023.
The Laser Hair Removal Device Market is projected to grow at a CAGR of 6.39% from 2023 to 2032.
North America is expected to hold the largest market share in the Laser Hair Removal Device Market, followed by Europe and Asia Pacific.
Laser Hair Removal Devices are primarily used for permanent hair reduction and skin rejuvenation.
Some of the key competitors in the Laser Hair Removal Device Market include Lumenis, Candela, Cynosure, Alma Lasers, and Syneron Candela.
The major factors driving the growth of the Laser Hair Removal Device Market include increasing demand for permanent hair reduction, rising disposable income, and technological advancements.
The challenges faced by the Laser Hair Removal Device Market include high cost of devices, regulatory hurdles, and competition from other hair removal methods.
The opportunities for growth in the Laser Hair Removal Device Market include expanding into emerging markets, developing new technologies, and targeting specific customer segments.
The Laser Hair Removal Device Market is expected to reach a valuation of 1700.0 billion USD in 2032.
The latest trends in the Laser Hair Removal Device Market include the adoption of diode lasers, the development of home-use devices, and the increasing popularity of laser hair removal among men.
