Hair removal devices provide long-lasting and convenient hair removal solutions. Various hair removal devices such as IPL hair removal devices, laser hair removal devices, intense pulsed light (IPL) devices, and other light based devices are used for hair removal purposes on various parts of the body. These devices provide a more hygienic solution for hair removal compared to traditional hair removal methods such as shaving and waxing. The global Hair Removal Devices Market is estimated to be valued at US$ 1200 Mn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the Hair Removal Devices Market growth is the increased adoption of advanced hair removal devices. Manufacturers are focusing on developing advanced devices with refined features for delivering better results with minimal side effects. For instance, advanced IPL devices allow users to treat larger areas in lesser time as compared to traditional IPL devices.Similarly, advanced laser hair removal devices have features like multiple wavelengths, skin cooling systems, and automated operation for enhancing safety, comfort, and efficacy of hair removal treatment. Growing consumer preference for convenient and long-lasting hair removal solutions is encouraging manufacturers to launch advanced devices, thus accelerating the market growth over the forecast period.
Segment Analysis
The global hair removal devices market is dominated by laser hair removal devices owing to their effectiveness and long-lasting results compared to other hair removal methods. Laser hair removal devices are effective on all skin types and hair colors and provide superior results. The sale of laser hair removal devices constitutes over 60% of the overall hair removal devices market.
Key Takeaways
The global hair removal devices market is expected to witness high growth.
Regional analysis: North America dominates the global hair removal devices market and accounts for over 40% of the total market share. Increased awareness regarding hair removal treatments, rise in disposable income, and availability of technologically advanced products are some factors contributing to its dominance. Asia Pacific is expected to witness the fastest growth during the forecast period due to growing middle-class population, adoption of western beauty standards and rising medical tourism in countries like India and China.
Key players: Key players operating in the hair removal devices market are Alma Lasers Ltd, Cutera Inc., Cynosure Inc., Fotona d.d, Lumenis Ltd, Lutronic Corp., Lynton Lasers Ltd., Sciton Inc., Solta Medical Inc., Strata Skin Sciences Inc., Syneron Medical Ltd., and Venus Concept Canada Corp. IPL hair removal devices are gaining popularity as they provide long-lasting results with fewer treatments over other methods. Venus Concept has the dominant market share in the IPL hair removal devices segment.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it