Laser Hair Removal Market Size was valued at USD 1.2 Billion in 2023. The laser hair removal market industry is projected to grow from USD 1.44 Billion in 2024 to USD 5.024 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.60% during the forecast period (2024 - 2032). Developing combination devices with more non-invasive treatment options are the key market drivers advancing the expansion of the market.
Source: Original Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for Laser Hair Removal is being driven by the growing selection of non-invasive medical procedures. The process of eliminating undesirable hair from an individual's body is referred to as laser hair removal. Everywhere needed, the laser machine or equipment exposes a patient's bodily region to laser light. It removes every hair follicle from that particular region as well. Both hair pigment and epidermis type impact the efficacy of laser hair removal. The governing principle of the conduction process is that light should be absorbed by the pigment present in the hair rather than the pigment present in the epidermis.
Additionally, many individuals all across the world search for items every day to use non-invasive treatment methods to enhance their exterior look. While some individuals with normal or abundant hair look for hair removal options, others with lines and wrinkles select Botox treatments. Furthermore, increasing technical developments have given rise to profitable prospects for laser-based hair removal treatments. A lot of clients have been drawn to businesses by the non-invasive and non-surgical hair removal technique. Because non-invasive therapy has fewer adverse effects than invasive treatment and has received necessary product approvals from the U.S. FDA, it has become more and more popular.
One of the major market trends is that important companies are concentrating more on the introduction of efficient gadgets that combine many technologies. Blue veins cannot be treated with Nd: YAG alone; the newest mix technique, which combines many items, is perfect for this purpose. Furthermore, hair removal in a single treatment is possible with the mix technique. From the first lasers to Intense Pulsed Light (IPL), hair removal systems have come a long way. First created in the 1960s, the ruby laser was the first laser aesthetic tool for hair removal. Even then, these gadgets have become more and more popular thanks to quick market developments. For instance, according to the International Society of Aesthetic Plastic Surgery, in 2020, around 271,628 hair removal treatments were performed in the United States, making them among the top three most prevalent procedures performed there. Thus, driving the Laser Hair Removal market revenue.
The Laser Hair Removal Market segmentation, based on Product, includes Alexandrite, Nd: YAG, Diode, and Others. In 2023, the Nd: YAG segment dominated the market. The longer wavelength (1064 nm) of the product accounts for its dominance by enabling more absorption in the optical window. Moreover, it is shown that the longer wavelength is the most effective therapy for skin with pigmentation.
The Laser Hair Removal Market segmentation, based on End User, includes Hospitals, Medical Spas & Specialty Clinics, and Others. In 2023, the medical spas & specialty clinics category generated the most income. The domination is caused by the increasing number of Laser Hair Removal procedures offered in medical spas and specialized clinics. Furthermore, it is expected that the segmental expansion would benefit from the rise in the infrastructure improvements of medical spas and clinics. This advancement is increasing customer desire for the use of Laser Hair Removal procedures.
Figure 1: Laser Hair Removal Market, by End User, 2023 & 2032 (USD Billion)
Source: Original Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Laser Hair Removal market area will dominate this market due to advancements in aesthetics sector technology, which helped to create cutting-edge hair removal products and enormous out-of-pocket expenses by Americans.
Further, the major countries studied in the market report are the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, South Korea, Japan, India, and Australia.
Figure 2: LASER HAIR REMOVAL MARKET SHARE BY REGION 2023 (USD Billion)
Source: Original Research, Secondary Research, MRFR Database and Analyst Review
Europe Laser Hair Removal market accounts for the second-largest market share because of government backing and advantageous reimbursement rules. Further, the German Laser Hair Removal market maintained the greatest market share, and the UK Laser Hair Removal market was the fastest growing market in the European region.
The Asia-Pacific Laser Hair Removal Market is anticipated to experience the highest CAGR between 2024 and 2032. This is due to the increasing prevalence of hair removal treatments among the populace. Moreover, China’s Laser Hair Removal market held the largest market share, and the Indian Laser Hair Removal market was the fastest growing market in the Asia-Pacific region.
Leading market players are giving a lot of money in R&D to help the Laser Hair Removal market expand further by diversifying their product lines. In addition, market participants engage in an array of strategic initiatives in an effort to increase their global footprint, with important market developments incorporating strategic partnerships, increased investment levels, contractual agreements, mergers and acquisitions, and cooperative ventures with external entities. To expand and persevere in a market environment that is becoming more competitive and hot, Laser Hair Removal industry must provide inexpensive goods.
Local production in order to reduce operational expenses is a fundamental business strategy employed by manufacturers in the global Laser Hair Removal industry in order to benefit customers and expand the market sector. In recent years, the Laser Hair Removal industry has provided several notable benefits to the field of aesthetic treatment. Major players in the Laser Hair Removal market, including Cutera (U.S), Venus Concept (Canada), CYNOSURE (U.S.), Fotona (U.S.), Lumenis Ltd. (Israel), Alma Lasers (Israel), and others, investment in operations related to research and development in an effort to stimulate market demand.
Cynosure is a company that designs and produces aesthetic treatment systems. These systems are utilized by dermatologists, plastic surgeons, and other medical professionals to eliminate hair and treat benign pigmented lesions in a minimally invasive and non-invasive manner. Additionally, it aids in the elimination of multicolored tattoos, skin revitalization, fat reduction via non-invasive and minimally invasive laser lipolysis, cellulite reduction, toenail infection caused by fungi, perspiration gland ablation, and enhancement of gynecological health. Additionally, the organization distributes medical devices powered by radio-frequency energy intended for precise surgical procedures, including but not limited to facial plastic and general surgeries, gynecology, ear, nose, and throat procedures, eye disease, dental and maxillofacial surgery, podiatry, and proctology. In June 2020, As the subsequent iteration to the Elite+ Aesthetic Workstation, Cynosure introduced the Elite iQ platform. Permanently reduce undesirable hair from any part of the body, including the face, chest, back, arms, genital line, underarms, and legs, with the Elite iQ platform's customized Laser Hair Removal treatments based on a skin pedicure.
Energy-based medical device manufacturer Lumenis Be Ltd. (Lumenis) specializes in ophthalmic and cosmetic applications within the domain of minimally invasive clinical solutions. It engages in the production and distribution of light-based systems and medical and aesthetic lasers. Holmium lasers, CO2 lasers, reusable fibers, multi-wavelength lasers, laser photocoagulators, and additional aesthetic devices are among its primary offerings. The organization provides its solutions to an extensive range of medical settings, encompassing ophthalmic and cosmetic procedures. Aside from Asia-Pacific, Lumenis maintains an operational presence in Europe, the Americas, and the Middle East. In January 2020, Lumenis Ltd. introduced LightSheer Quattro, a diode-based laser device designed for the purpose of hair elimination.
Key companies in the Laser Hair Removal market include
Laser Hair Removal Industry Developments
September 2021: BAREit, an ultrasonic hair removal technology powered by the BARE HR platform, was introduced by Sciton.
October 2022: The Fall Clinical Dermatology Conference marked the debut of the transportable Silk by Sensus hair removal system by Sensus Healthcare, Inc.
April 2021: Medical USA, a subsidiary of Osaka-Gunze Limited, was granted government authorization in Japan to manufacture and distribute the MeDioStarMonolith long-term hair reduction diode laser.
Laser Hair Removal End User Outlook
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 1.2 Billion |
| Market Size 2024 | USD 1.44 Billion |
| Market Size 2032 | USD 5.024 Billion |
| Compound Annual Growth Rate (CAGR) | 19.60% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, South Korea, Japan, India, and Australia |
| Key Companies Profiled | Cutera (U.S), Venus Concept (Canada), CYNOSURE (U.S.), Fotona (U.S.), Lumenis Ltd. (Israel), Alma Lasers (Israel), |
| Key Market Opportunities | · The growing trend toward enhancing living standards in both developed and developing nations |
| Key Market Dynamics | · Increasing Number of Non-invasive Treatment Options to Fuel the Market Growth |
Frequently Asked Questions (FAQ) :
In 2023, the worldwide Laser Hair Removal market was valued at $1.2 billion.
The worldwide market is anticipated to expand at a compound annual growth rate (CAGR) of 19.60% from 2024 to 2032.
North America dominated the worldwide market in terms of market share.
Cutera (United States), Venus Concept (Canada), CYNOSURE (United States), Fotona (United States), Lumenis Ltd. (Israel), and Alma Lasers (Israel) are the market leaders.
In 2023, the market was dominated by the Nd: YAG category.
Medical Spas & Specialty Clinics held the most market share worldwide.
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