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Laser Hair Removal Market Size, Share & Industry Analysis, By Product (Alexandrite, Nd: YAG, Diode, and Others), By End User (Hospitals, Medical Spas & Specialty Clinics, and Others), and Regional Forecast, 2024-2032

Last Updated :April 19, 2024 | Format: PDF | Report ID: FBI103477



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The global laser hair removal market size was valued at USD 1.05 billion in 2023 and is projected to grow from USD 1.22 billion in 2024 to USD 4.61 billion by 2032, exhibiting a CAGR of 18.1% during the forecast period (2024-2032). Laser hair removal is one of the most common cosmetic procedures to reduce unwanted hair. The devices used in this procedure beam highly concentrated light into hair follicles where the pigments absorb it and inhibit or delay future hair growth. Some of the factors responsible for augmenting the adoption rate of the solution are its convenience, pain-free nature, better outcomes than conventional methods, and long-lasting effects.

The increasing shift toward improving the standard of living in developed and developing countries has boded well for the aesthetics industry, especially the laser hair removal industry. Moreover, the growing disposable income, coupled with the rising trend of improving external appearance, especially among women, has increased the laser treatment demand. Laser hair removal is one of the top 5 most popular non-surgical procedures in the U.S., according to the latest 2022 Statistics from the American Society of Aesthetic Plastic Surgery. The main factor responsible for the remarkable growth opportunity for the market is that consumers have witnessed a 90% hair growth reduction. Thus, the effectiveness of devices used for laser-based hair removal has increased market size and value with respect to revenue.

Similarly, the growing financial option for these procedures is propelling the adoption rate in the market. For instance, in January 2022, Ally Lending expanded its relation with Milan Laser Hair Removal by providing patient financing options at all locations of Milan Laser Hair Removal. The COVID-19 outbreak negatively impacted the market as the lockdowns imposed across the globe limited people’s visits to beauty clinics, which eventually affected laser hair removal services.

In 2022, the focus of market players was on the introduction of home-based laser hair removal devices due to the lower service and consultation costs compared to the traditional products used to perform these procedures outdoors. These trends point to a stable growth of the market over the forecast period.

Laser Hair Removal Market Trends

Growing Emphasis on Developing Combination Devices to Impel Market Growth

One of the significant trends in the market is increasing the focus of key players toward the launch of effective devices with a combination of technologies. The latest mix technology, which incorporates various products, is ideal for the treatment of blue veins, which cannot be treated using the Nd: YAG alone. Moreover, the mix technology has the potential to remove hair in one procedure.

  • For example, Duetto MT Evo Lynton Laser simultaneously delivers Nd: YAG 1064 nm and alexandrite 755 nm. The two wavelength are aimed to treat fine and fair hairs on all skin types.

  • Similarly, the Venus Velocity laser of Venus Concept provides a diode laser and cooling technology for the effective reduction and removal of hair. Such innovations are expected to boost the product demand in the coming years.

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Laser Hair Removal Market Growth Factors

Increasing Number of Non-invasive Treatment Options to Fuel the Market Growth

Every day, large number of people across the globe look for products for the improvement of their external appearance using non-invasive treatment options. Some people with lines and wrinkles choose Botox procedures, while others with normal or excessive hair search for solutions for hair removal. Moreover, growing technological innovations have created lucrative opportunities for laser-based hair removal procedures. The non-invasive and non-surgical method of hair removal has attracted a large number of customers for companies.  

The popularity of non-invasive treatment has increased due to its rare side effects as compared to the invasive method, coupled with the essential product approvals from the U.S. FDA.

  • For instance, in June 2020, Venus Concept Inc.’s Venus Epileve, a product meant for laser hair reduction, received FDA approval. This has created a high demand for laser-based hair removal technologies. These increasing number of non-invasive treatment options promote the market growth.

Technological Advancements in the Products to Propel the Market Growth

Over the years, hair removal technologies have significantly advanced from initial lasers to Intense Pulsed Light (IPL). The ruby laser, developed in the 1960s, was the first laser aesthetic device for the removal of hair. Since then, rapid advancements in the market have surged the popularity of these devices. Today, these devices can help in the reduction of hair growth by 90-95% with lasers such as a diode, Nd: YAG, and others. In addition, advanced cooling technologies embedded within the laser makes it more comfortable for patients.

  • For instance, in January 2020, Motus AY launched the world’s most advanced laser hair removal platform. The platform uses a high-speed Alexandrite laser that benefits the dark and light skin tones. These developments are expected to contribute to the growth of the global laser hair removal market over the next few years.


High Cost Related to the Solution May Hamper the Market Growth

Although there are advantages to hair removal using laser technology, it is also associated with certain disadvantages, such as high cost. Advancements in medical devices (lasers) for hair removal have increased the cost of the treatment. Moreover, the cost of the procedure varies as per individual specifications and other factors such as the size of the area being treated, the number of treatments needed, and others. According to the American Society of Plastic Surgeons, the average cost of laser-based treatment for hair removal in the U.S. is USD 389 per session. Also, the cost of treatment in developing countries such as India is approximately USD 350 - 400. Therefore, high out-of-pocket spending has reduced the demand for such procedures and thus restrains the market growth.

Laser Hair Removal Market Segmentation Analysis

By Product Analysis

Nd: YAG Segment Dominated Owing to the Long Wavelength

By product, the market is divided into alexandrite, Nd: YAG, diode, and others.

The Nd: YAG segment held a dominant share in the market in 2023. The dominance is due to the product’s longer wavelength (1064 nm), allowing for greater absorption in the optical window. Moreover, the advantage of a longer wavelength is proven to be the best treatment for pigmented skin.

The diode segment is estimated to grow with highest CAGR during the forecast period due to the launch of new advanced products having diode lasers with a wavelength of 810 nm. It is said to be a better option than the alexandrite laser. Therefore, the launch of new products is anticipated to foster the segment growth during the forecast period. For example, in April 2019, one of the market leaders, Alma Medical, launched Soprano Titanium, a painless hair removal device. This device combines three effective lasers in one device.

The Alexandrite segment captured a comparatively lower share in 2023. On the other hand, the others segment captured the lowest market share in 2023 due to limited adoption of shorter wavelength devices such as ruby hair removal laser machine, etc., in Asia Pacific and North America.

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By End User Analysis

Medical Spas & Specialty Clinics Dominated Due to Infrastructural Advancements

In terms of end user, the market is segmented into medical spas & specialty clinics, hospitals, and others.

The medical spas & specialty clinics segment held a dominating position in the global laser hair removal market share in 2023. The dominance is owing to the growing number of laser hair removal treatments in specialty clinics and medical spas. Moreover, the increase in the advancements in infrastructure of medical spas & clinics is anticipated to bode well for the segmental growth. This development is raising consumer interest in the adoption of hair removal treatments using lasers. In October 2021, Sona Dermatology partnered with Cartessa Aesthetics, to introduce Motus AY and its many benefits to their patients. It was offered at eighteen locations spanning Texas, Virginia, North Carolina, and Maryland.

The hospitals segment is poised to register fastest growth during the forecast period owing to the infrastructural advancements in the hospitals for hair removal procedures.


Asia Pacific Laser Hair Removal Market Size, 2023 (USD Billion)

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The Asia Pacific market size stood at USD 0.41 billion in 2023. The region's dominance can be attributed to the growing adoption of hair removal treatment by the population. The region is also anticipated to emerge as the fastest-growing regional segment during the forecast period, owing to increased procedures for laser technology-based hair removal, changing lifestyle preferences, and increasing disposable income. The increasing concerns surrounding hair fall problems and the launch of advanced products in Asian countries are further expected to fuel the regional growth.

North America is expected to hold the second position in the market during the forecast period owing to improvements in technologies in the aesthetics industry, contributing to the development of advanced hair removal products and huge out-of-pocket spending by Americans. According to the Aesthetic Plastic Surgery National Databank Statistics of 2022, total 398,772 hair removal procedures are carried out with a 14% increase in 2022 compared to 2021.

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Europe is expected to experience considerable growth in the market during the forecast period owing to government support and favorable reimbursement policies. For instance, the National Health Service (NHS) offers laser hair removal services, but the cost varies depending on the area of the body being treated and the number of treatments needed.

Latin America and the Middle East & Africa accounted for a comparatively lower share of the market in 2023 owing to the presence of a huge untapped market. The lack of clinical settings offering laser hair removal services with well-equipped infrastructure is further restricting market growth across these regions. As per an article published by WhatClinic in 2023, there are 61 laser hair removal clinics in South Africa.

List of Key Companies in Laser Hair Removal Market

Launch of Advanced Products by Cynosure and Other Players to Lead to Revenue Growth

The market has several players operating and competing with each other to gain the leading position. Cynosure and Venus Concept are a few companies that are well-positioned in the global market. The adoption of strategies such as continuous technological developments and the launch of advanced products is responsible for these companies’ strong brand presence. In December 2023, Venus Concept Inc. expanded its international distributor network by signing two new exclusive partnerships with Core Aesthetics Skin & Laser Limited in the U.K. and Spectra Medical Systems in India.

Multiple small-and-medium-sized companies are also stepping into the market by launching technologically advanced products. For instance, a Sydney-based man earned USD 20 million in two years after launching a home laser hair elimination medical device called Happy Skin Co. in May 2020. Thus, these factors are anticipated to expand the growth potential during the forecast period.



  • November 2023: Justera Health Ltd. launched an extended range of premium laser treatment services with CUTERA XEO. The XEO is manufactured by Cutera Face and Body Aesthetic Solutions that brings a new dimension to non-surgical aesthetic treatments.

  • February 2023: Milan Laser Hair Removal entered new strategic growth equity investments from Sixth Street and Wildcat Capital Management. The investment would support the acceleration of clinic expansion, marketing, and business development.

  • September 2021: Sciton launched BAREit, an ultra-fast hair removal technology on the BARE HR platform.

  • May 2020: Lira Style unveiled a laser-powered hair removal medical device, Cervello. The device offers hair removal treatment for all skin types with a combination of Alexandrite, diode, and Nd: YAG.

  • April 2020: Aldi Australia launched a DIY laser-based hair removal gadget during the COVID-19 pandemic to provide continuation in hair removal treatment for patients.

  • January 2020: Lumenis Ltd announced the launch of LightSheer Quattro, a diode-based laser hair elimination device.


The research report provides qualitative and quantitative insights on the global market and a detailed analysis of the market size and growth rate for different segments. Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. It contains various vital insights on new product launches by key players, a snapshot of regulatory scenario, key industry developments, competitive strategies such as mergers and acquisitions and partnerships, and the impact of COVID-19 on the market.

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Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 18.1% from 2024 to 2032


Value (USD Billion)


By Product

  • Alexandrite

  • Nd: YAG

  • Diode

  • Others

By End User

  • Hospitals

  • Medical Spas & Specialty Clinics

  • Others

By Region

  • North America (By Product, By End User, By Country)

    • U.S. (By Product)

    • Canada (By Product)

  • Europe (By Product, By End User, By Country/ Sub-Region)

    • U.K. (By Product)

    • Germany (By Product)

    • France (By Product)

    • Italy (By Product)

    • Spain (By Product)

    • Scandinavia (By Product)

    • Rest of Europe (By Product)

  • Asia Pacific (By Product, By End User, By Country/ Sub-Region)

    • Japan (By Product)

    • China (By Product)

    • India (By Product)

    • Australia (By Product)

    • Southeast Asia (By Product)

    • Rest of the Asia Pacific (By Product)

  • Latin America (By  Product, By End User, By Country/ Sub-Region)

    • Brazil (By Product)

    • Mexico (By Product)

    • Rest of Latin America (By Product)

  • Middle East & Africa (By  Product, By End User, By Country/ Sub-Region)

    • GCC (By Product)

    • South Africa (By Product)

    • Rest of the Middle East & Africa (By Product)


Frequently Asked Questions

Fortune Business Insights says that the global market size was valued at USD 1.05 billion in 2023 and is projected to reach USD 4.61 billion by 2032.

In 2023, the Asia Pacific market stood at USD 0.41 billion.

Growing at a CAGR of 18.1%, the market is expected to exhibit steady growth during the forecast period (2024-2032).

Based on product, the Nd: YAG segment is expected to be the leading segment in the market during the forecast period.

The increasing number of non-invasive laser treatment options is expected to drive the market growth during the forecast period.

Cutera, Venus Concept, and Cynosure are major players in the global market.

The Asia Pacific held the largest market share in 2023.

The growing shift toward improving the standard of living in developed and developing countries is expected to drive the adoption of the solution during the forecast period.

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