Laser hair removal is a proficient method for removing unwanted hair from the leg, chin, arm, face, back, bikini line, underarm, and others. Lasers are able to remove the dark and coarse hair without damaging the surrounding skin. These lasers can treat many hairs at the same time and small areas such as upper lips are treated in less than one minute.
According to a study, “Global Laser Hair Removal Market; by End-User Vertical (Home Use, Dermatology Clinics, and Beauty Clinics); By Device Type (Mobile and fixed); and Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030” the key companies operating in the global laser hair removal market are Fotona, Apax Partners(Syneron Candela), Hologic, Inc. (Cynosure), Lynton Lasers Group, Fosun Pharma (Sisram), Valeant Pharmaceuticals (Solta Medical, Inc), XIO Group (Lumenis), Lutronic, Viora, Venus Concept, and Sciton, Inc. These key companies are adopting growth strategies including innovations in the existing technologies, advancements in devices, mergers & acquisitions, and more. An increase in the number of FDA-approved products for instance Remington IPL6000 I-Light Pro, Veet Infini’Silk Pro, and Silk’n Flash&Go, for both men and women, is also positively impacting the global laser hair removal market growth.
Based on laser type, the laser hair removal market is segmented as Nd:YAG laser, diode laser, an alexandrite laser. The diode lasers segment dominates the market owing to the high precision offered by these devices. Diode lasers can selectively target the particular body part that effectively removes the hair without harming the surrounding area. Based on the type of wavelength, the market is segmented as specific standard wavelengths and multiple standard wavelengths. In addition, based on end-use, the market is segmented as dermatology clinics, beauty clinics, home use, and hospitals. The beauty clinics segment is estimated to witness a higher growth rate due to demand for the treatment across the globe over the forecast period.
The laser hair removal market is driven by growth in technological innovations & advancements in the market followed by an improved range of products & services relating to aesthetic lasers, a rise in demand for home-based laser hair removal devices, an increase in levels of disposable income of individuals and the growth of non-invasive hair removal services & procedures. However, the rise in the availability of alternative enhanced beauty treatment solutions, high costs associated with devices resulting in the higher cost of the procedures, and the vulnerable nature of the supply of materials for laser treatments may impact the market. Moreover, the increase in concern about beauty is a key trend for the market.
Based on geography, the North-American region is predictable to be the dominant regional market owing to the rise in demand for hair removal treatments, growth in adoption of advanced technologies, and the presence of various well-established dermatology clinics in the region. Whereas, the Asian-Pacific and European regions are expected to exhibit a substantial growth rate due to an increase in cases of skin disorders and growth in the population of people over the forecast period. It is projected that future of the global laser hair removal market will be bright as a result of a change in lifestyle, growth in the medical tourism market in emerging economies coupled with rising in the spending power of consumers during the forecast period.
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Ankur Gupta, Head Marketing & Communications