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The global laser hair removal market size is expected to gain momentum by reaching USD 1,619.7 million by 2028. According to Fortune Business Insights™ in its report, titled “Laser Hair Removal Market Size, Share & COVID-19 Impact Analysis, By Product (Diode, Alexandrite, Nd: YAG, and Others), By End User (Hospitals, Medical Spas & Specialty Clinics, and Others) and Regional Forecast, 2021-2028”, the market stood at USD 483.0 million in 2020 and is projected to exhibit an astounding CAGR of 16.7% between 2021 and 2028. This is attributable to the factors such as the increasing adoption of advanced laser removal products owing to their high precision by people worldwide.
Cynosure Announces Launch of Elite iQ to Brighten its Market Prospects
In June 2020, Cynosure introduced its advanced Elite iQ platform, the next generation of the Elite Aesthetic Workstation across Australia, Europe, and the US. The company reports that the platform offers customized hair removal treatment solutions by leveraging the aesthetic sector’s live melanin reader called Skintel. The reader further ensures efficient removal of unwanted hair permanently and is suitable for all skin types. Moreover, it enables practitioners to provide personalized treatments for people with contrasting skin color globally. This is expected to boost the adoption of advanced laser hair removal solutions.
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High Precision Functioning of Product to Promote Growth
Laser hair removal efficiently functions by heating hair follicles to prevent growth of new hairs. The idea is to put hair follicles for a prolonged period into dormancy that may not be completely achieved by waxing and shaving. The biggest advantage of the laser type of treatments is their high precision as these lasers target and remove coarse and dark hair regions.
The hair removal through lasers is a rapid-paced process. For instance, each laser pulse is able to treat multiple hairs in a single stroke. Moreover, smaller areas such as underneath the nose can be treated in less time. However, this procedure does not remove unwanted hairs permanently, but only reduces their density in a certain area. Therefore, the precise functioning of this procedure is expected to contribute to the global laser hair removal market growth during the forecast period.
Key Players Focus on Development of Next-Gen Technologies to Strengthen Their Market Positions
The key players present in the global market are increasingly developing and incorporating modern technologies in conventional aesthetic procedures such as hair removal. To gain a competitive edge, many companies are frequently launching innovative hair removal products with improved efficiency. Moreover, these innovations are allowing market players to diversify their portfolios and consolidate their position in the market.
List of the Companies Profiled in the Global Market for Laser Hair Removal:
Further Report Findings:
Table of Segmentation:
Value (USD Million)
Product; End-User and Geography