Hair Removal Devices Market Size and Trends

Global Hair Removal Devices Market is estimated to be valued at USD 749.2 Mn in 2024 and is expected to reach USD 1,568.3 Mn by 2031, growing at a compound annual growth rate (CAGR) of 11.1% from 2024 to 2031.

Key Takeaways from the Hair Removal Devices Market Report:

Energy-based devices are expected to contribute the largest market share of 49.2% in 2024.
Dermatology clinics contribute the highest revenue share with a projected growth of 54.4% in 2024.
North America dominates the global market and is expected to account for 41.1% market share in 2024.
Asia Pacific region is a fast-growing market expected to account for 32.3% market share in 2024.

Market Overview:

Improved aesthetics and increasing demand for hassle-free hair removal options are expected to drive the demand for various hair removal devices over the coming years. The hair removal devices market is expected to witness significant growth over the forecast period. Factors such as increasing disposable incomes, growing awareness about aesthetic procedures and the availability of novel products are expected to support the market expansion. Moreover, the rising popularity of at-home hair removal treatments using advanced devices is further expected to accelerate the market growth during the forecast period.

Hair Removal Devices Market Concentration By Players

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Key Developments:

In May 2024, Osaka-Gunze Limited received regulatory approval in Japan to produce and market the MeDioStarMonolith long-term hair reduction diode laser, subsequently launching the product to meet the rising demand for advanced hair removal solutions.
In March 2024, Cynosure entered into a distribution agreement with Jeisys Medical KK in Japan, expanding the availability of its energy-based laser products, including hair removal devices, in the Japanese market.
In January 2024, Philips launched the Lumea Series 9000, its fastest and most effective home intense pulsed light hair removal device, catering to the growing demand for efficient at-home solutions.

Top Strategies Followed by Hair Removal Devices Market Players

Established Players: Leading companies like Philips, Braun, and Panasonic dedicate significant resources to research and development to drive product innovation. They conduct extensive market research to understand evolving consumer needs and preferences. This helps them develop new products with advanced features like IPX7 water resistance, customized skin detection, and quick hair removal.

Mid-Level Players: Players like Syska, Veet, and Havells target price-sensitive consumers with affordable hair removal devices that offer good value and performance. While their products may lack high-end features, they ensure quality control and deliver products that suit different budget requirements.

Small-Scale Players: Small companies focus on specific sections of the market. For example, Protrim specializes in men's grooming tools while Listerine offers devices targeted towards sensitive skin. Such positioning helps them compete against established brands and find loyal customers.

Emerging Startups – Hair Removal Devices Industry Ecosystem

Innovative Technologies: Startups like ILUMI and Belli Beauty are developing smart hair removal devices integrated with blue light therapy, micro-needling, and skincare. Wazaper debuted a device using laser-based intra-cutaneous photothermolysis for long-lasting hair reduction.
Sustainable Solutions: Ecouterre Beauty creates reusable cartridge-based epilators from recycled plastics to reduce electronic waste. L'Oreal's Dermavie range uses plant-based ingredients and recyclable packaging.
Niche Markets: Startups often address underserved niche demands - like accessories for sensitive areas. PIHI Razor developed women's kit for intimate grooming while Braun entered male below-the-neck tools. This allows them to build expertise and loyal customer base.