The global laser hair removal devices market value is projected to increase from USD 3.3 billion in 2023 to USD 11.2 billion by 2033. Over the forecast period, global laser hair removal device sales are predicted to soar at 13.0% CAGR.
As per the latest analysis, the worldwide laser hair removal devices industry was valued at USD 2.9 billion in 2022. The target market is set to create an absolute $ opportunity of USD 7.9 billion during the assessment period.
Sales are expected to remain high for lasers in the global laser hair removal devices industry during the forecast period. This is due to various advantages of hair removal lasers including their higher effectiveness and minimal side effects.
According to Future Market Insights (FMI), laser segment is projected to thrive at a CAGR of around 12.8% through 2033. Hence, it is expected to remain a key revenue-generation segment for laser removal device manufacturers.
Key Market Shaping Factors:
Over the years, medical advancements have paved way for the development of new medical devices and treatments. From laser skin rejuvenation and PRP therapy to laser hair removal, people are opting for several cosmetic procedures to improve their appearance.
Laser hair removal is a treatment procedure that uses a concentrated beam of light to remove unwanted hair. For this purpose, several laser hair removal products including diode lasers, Nd: YAG lasers, and intense pulsed light devices are being employedTop of Form.
Laser hair removal has become one of the widely used cosmetic procedures performed in countries such as the United States, Germany, the United Kingdom, and other countries. It is being used as an ideal alternative to waxing and shaving due to its attractive benefits.
From saving time and money to its precision in targeting specific hair and long-lasting results, laser hair removal offers several benefits to users. Growing preference for this minimally invasive procedure is expected to create a high demand for laser hair removal devices during the assessment period.
There has been a spike in cosmetic procedures such as laser hair removal globally in recent years, and the trend is expected to continue during the forecast period. This is likely to power up laser hair removal device sales through 2033.
As per the American Society of Plastic Surgeons (ASPS), about 757,808 laser hair removal procedures were performed in 2020. With rising beauty awareness, this figure of laser hair removal procedures is expected to increase rapidly, creating growth prospects for the target market.
Growing popularity and usage of laser hair removal devices in homes is expected to further boost growth in the target segment during the assessment period.
Robust growth of beauty clinics, especially across developed and emerging nations is predicted to fuel laser hair removal devices sales through 2033.
| Attributes | Key Insights |
|---|---|
| Estimated Global Laser Hair Removal Devices Market Value (2023) | USD 3.3 billion |
| Projected Market Size (2033) | USD 11.2 billion |
| Value-based CAGR (2023 to 2033) | 13.0% |
| United States Market CAGR (2023 to 2033) | 12.9% |
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According to Future Market Insights (FMI), global sales of laser hair removal devices grew at around 14.8% CAGR historically from 2018 to 2022. Total market size reached around USD 2.9 billion at the end of 2022.
Looking forward, the worldwide laser hair removal devices market is expected to thrive at a CAGR of 13.0% through 2033. It is set to generate an absolute $ growth of USD 7.9 billion during the assessment period.
Rising demand for aesthetics & personal grooming is a prominent factor providing impetus for the development of the laser hair removal devices industry.
In the contemporary world, evolving beauty standards and societal norms are prompting people to focus on their physical appearance. As a result, they are opting for several cosmetic procedures including laser hair removal. This is expected to boost the target market.
Increasing disposable income is also positively impacting the target market. As the purchasing power of people increases, so does their spending on grooming & personal care products.
Rising prevalence of hirsutism is acting as a catalyst fueling laser hair removal device demand globally, and the trend is expected to continue over the assessment period.
As per the National Library of Medicine, hirsutism (excessive hair growth) affects 5% to 10% of women. Women suffering from this medical condition opt for several hair removal treatments including waxing, shaving, and laser hair removal.
Laser hair removal is generally preferred over other treatments due to its ability to achieve permanent reduction of hair. This in turn is creating high growth prospects for the global laser hair removal devices industry.
Another key factor that is expected to boost the worldwide laser hair removal devices industry is the technological advancements in laser hair removal technology.
Leading laser hair removal product manufacturers are investing heavily in research & development to develop safer and more effective devices. These new laser hair removal solutions offer improved efficiency of hair removal while minimizing discomfort and side effects.
| Country | United States |
|---|---|
| Projected CAGR (2023 to 2033) | 12.9% |
| Market Value (2033) | USD 1.9 billion |
| Historical CAGR (2018 to 2022) | 14.7% |
| Country | United Kingdom |
|---|---|
| Projected CAGR (2023 to 2033) | 12.7 |
| Market Value (2033) | ~USD 0.419 billion |
| Historical CAGR (2018 to 2022) | 14.4% |
| Country | China |
|---|---|
| Projected CAGR (2023 to 2033) | 12.9% |
| Market Value (2033) | USD 2.2 billion |
| Historical CAGR (2018 to 2022) | 14.6% |
| Country | Japan |
|---|---|
| Projected CAGR (2023 to 2033) | 12.9% |
| Market Value (2033) | USD 1.6 billion |
| Historical CAGR (2018 to 2022) | 14.5% |
| Country | South Korea |
|---|---|
| Projected CAGR (2023 to 2033) | 12.4% |
| Market Value (2033) | ~USD 0.470 billion |
| Historical CAGR (2018 to 2022) | 13.8% |
As per Future Market Insights (FMI), the United States laser hair removal devices market value is projected to exceed USD 1.9 billion by 2033. It is likely to generate an absolute $ growth of about USD 1.4 billion during the projection period.
Historically, the United States laser hair removal devices industry grew at 14.7% CAGR. Over the assessment period, laser hair removal device sales are anticipated to thrive at 12.9% CAGR.
Growth in the United States market is driven by several factors. These include increasing spending on cosmetic procedures, easy availability of technologically advanced products, and growing adoption of hair removal treatments.
Over the years, there has been a dramatic rise in cosmetic procedures, especially those using laser and energy-based devices across the United States and other countries.
For instance, as per the American Society for Dermatologic Surgery (ASDS), around 4 million procedures using light-laser, and energy-based devices were performed in 2019 for treating skin conditions including excess hair, facial redness, etc. This in turn is positively impacting laser hair removal device sales.
Similarly, rising popularity of cosmetic minimally-invasive procedures and strong presence of leading laser hair removal device manufacturers are boosting the United States market.
Several United States-based laser hair removal device companies are focusing on development, commercialization, and distribution of hair removal products that cater to needs of dermatologists and patients.
As per Future Market Insights’ (FMI’s) latest analysis, China laser hair removal devices market registered a CAGR of 14.6% historically from 2018 to 2022. For the assessment period, demand for laser hair removal devices in China is likely to rise at 12.9% CAGR during the forecast period.
By 2033, China laser hair removal devices industry is projected to attain a valuation of USD 2.2 billion, making it a highly lucrative market globally. It is forecast to create an absolute $ opportunity of USD 1.5 billion over the assessment period.
Increasing beauty consciousness, rising disposable income, and growing awareness about the safety & effectiveness of laser devices are few of the key factors driving China market.
With the rising popularity of social media platforms such as Tik Tok across China, people are showing a keen interest in improving their physical aesthetics. As a result, they are opting for several cosmetic procedures such as hair removal and skin resurfacing. This in turn is elevating demand for laser hair removal devices.
Easy availability of technologically advanced laser hair removal devices is another key factor boosting China market.
China-based laser hair removal device manufacturers are continuously making use of advanced technologies for developing new products as well as reducing overall costs. This is helping them to increase sales not only in China but in other regions as well.
Principal Consultant
| Top Segment (Product Type) | Laser |
|---|---|
| Historical CAGR (2018 to 2022) | 14.7% |
| Projected CAGR (2023 to 2033) | 12.8% |
| Top Segment (End Use) | Beauty Clinics |
|---|---|
| Historical CAGR (2018 to 2022) | 14.5% |
| Projected CAGR (2023 to 2033) | 12.7% |
Based on product type, the global laser hair removal devices industry is segmented into laser, intense pulse light, and others. Among these, demand is expected to remain high for laser devices, making it the top revenue-generating segment for laser hair removal device manufacturers.
According to Future Market Insights (FMI), laser segment is projected to thrive at 12.8% CAGR through 2033, in comparison to 14.7% CAGR registered during the historical period.
Growth of the target market is attributable to rising usage of hair removal lasers due to their rapid treatment results, low maintenance, minimal side effects, and other benefits.
Laser systems have proved to be safer for all hair colors and skin tones. They are highly effective in reducing unwanted hair and facilitate less painful treatments.
Growing preference for laser hair removal due to its long-lasting results and other advantages is expected to boost growth of the target segment.
Laser hair removal is also less painful and more effective compared to other hair removal technologies such as electrolysis and intense pulsed light. High adoption of this cosmetic procedure is likely to bolster laser device sales during the assessment period.
Technological advancements in lasers are expected to further elevate their demand during the forecast period. Leading companies are likely to benefit from upgrading their laser portfolios as demand for hair removal lasers continues to rise rapidly.
Beauty clinics segment currently holds a dominant share of the global laser hair removal devices industry through 2033. This is due to increasing number of beauty clinics and rising end user preference for opting for hair removal procedures at beauty clinics.
As per Future Market Insights’ (FMI) latest report, beauty clinics segment witnessed a CAGR of 14.5% during the historical timeframe and for the assessment period, it is likely to progress at 12.7% CAGR.
A large portion of the world population has unwanted hair. Removing it regularly at home can be time-consuming, messy, and burdensome. As a result, people opt for laser removal procedures at beauty clinics which in turn is fueling growth of the target segment.
People also prefer visiting beauty clinics to undergo other procedures for improving their aesthetic appeal. This is because beauty clinics are well-equipped with latest technologies.
Rise in the number of beauty clinics, especially across developed and developing regions is expected to further boost growth of the target segment as well as the overall market.
Leading manufacturers of laser hair removal devices listed in the report include Solta Medical Inc, Cutera, Inc, Venus Concept Canada Corp, Cynosure Inc, LUMENIS, Alma Lasers Ltd, Lutronic, Sciton Inc, Viora, and Syneron Medical Ltd. among others.
Developing new products has been the key focus of prominent laser hair removal device companies for a long time now. Companies are constantly innovating to introduce innovative laser hair removal devices that are easy to use.
Several laser hair removal device manufacturers are also employing strategies such as partnerships, mergers, distribution agreements, facility expansions, acquisitions, etc to increase sales and expand their global footprint.
Recent developments:
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| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 3.3 billion |
| Projected Market Value (2033) | USD 11.2 billion |
| Anticipated Growth Rate (2023 to 2033) | 13.0% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Product Type, End Use, and Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; and the Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, and others. |
| Key Companies Profiled | Alma Lasers Ltd; Cutera, Inc; Cynosure Inc; LUMENIS; Lutronic; Sciton Inc; Solta Medical Inc; Syneron Medical Ltd.; Venus Concept Canada Corp; Viora |
The laser hair removal devices market is projected to rise at a 13.0% CAGR from 2023 to 2033.
The laser hair removal devices market is predicted to create an absolute dollar opportunity worth USD 2.9 billion by 2033.
The laser segment is projected to thrive at a 12.8% CAGR through 2033.
The United States laser hair removal devices market is estimated to rise at 12.9% CAGR from 2023 to 2033.
The laser hair removal devices market size will reach USD 11.2 billion by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Laser 5.2. Intense Pulse Light 5.3. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. Beauty Clinics 6.2. Dermatology Clinics 6.3. Home Use 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Alma Lasers Ltd 17.2. Cutera, Inc 17.3. Cynosure Inc 17.4. LUMENIS 17.5. Lutronic 17.6. Sciton Inc 17.7. Solta Medical Inc 17.8. Syneron Medical Ltd. 17.9. Venus Concept Canada Corp 17.10. Viora 18. Assumptions & Acronyms Used 19. Research Methodology
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Laser Hair Removal Devices Market
