Global Hair Removal Devices Market was valued at US$ 1200 Million in 2021 and is expected to surpass US$ 2754.6 Million by 2030, registering a CAGR of 9.9% during the forecast period (2022-2030), according to the Global Hair Removal Devices Market Report, by Product Type (Energy Based Devices, Laser Based Devices, and Intense Pulse Light (IPL) Devices ), by End-User (Dermatology Clinics, Beauty Clinics), by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
Demand for hair removal devices that can be used at home is growing significantly as men and women find it easy to remove body hair with these devices during rush hours. Visiting parlors is not possible at the time of urgency and razors and creams do not provide a long-lasting effect for slow hair growth. There are hair removal devices that can be used at home that save money, prevent ingrown hair, and removes hair at faster rate with no side effects. The hair removal devices that can be used at home are laser based and light based. Due to all the advantages of hair removal devices that can be used at home the popularity of hair removal devices used at home is increasing hence the global hair removal devices market is expected to grow significantly in the forecast period.
Businesses catering the equipment requirement of the commercial beauty clinics and dermatology clinics for hair removal devices and treatments have gained significant popularity in the recent past, owing to increasing beauty consciousness among consumers globally. These being non-surgical and non-invasive procedures, has led to increased consumer preferences. Moreover, these are widely used in dermatology and beauty clinics. This is expected to be among the major growth drivers for the market over the forecast period.
Key Developments
- In August 2021, STRATA Skin Sciences acquired the U.S. Dermatology Business of Ra Medical Systems. This provided Strata Skin Sciences the opportunity to market its complete business solution that include dermatology, plastics and aesthetics to Ra Medicals which has an existing customer base of 400 dermatology practitioners.
Global Hair Removal Devices Market - Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic has adversely affected the global hair removal devices market. The rise in covid-19 cases across the globe forced governments of various countries to impose lockdown. The businesses such as manufacturing companies, offices, and others were operated partially or was shut down due to a financial crises. The spending power of people also decreased which impacted the sales of hair removal devices. Hence the global hair removal device market witnessed slow growth during the pandemic.
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Key Trends and Analysis of the Global Hair Removal Devices Market:
- North America region held a dominant position in the global hair removal devices market in 2021 and is expected to retain its dominance throughout the forecast period. Technological advancements in hair removal devices are driving market growth for hair removal devices in the North American region. Laser hair removal has gained popularity as it helps get rid of body hair permanently. For instance, US FDA (Food and Drug) approved Soprano Titanium laser hair removal, which is affordable requires less time, and results in long-term hair removal. There are leading hair removal service providers in North America such as SEV Laser and Flash Lab Laser, hich provide safe and affordable hair removal services are driving growth of the hair removal devices market in North America.
- Europe is expected to witness significant growth over the forecast period. Increasing popularity of hair removal treatments and the availability of trained dermatologists in are expected to boost demand of hair removal devices in this region. People are consulting dermatologists for hair removal treatments with the concern of safely removing hair from the body. Dermatologists prefer laser hair removal devices to deliver better results to customers. Increasing demand for laser hair removal devices by dermatologists to provide safe and better results will contribute to significant growth of the global hair removal market in the forecast period.
- Among product types, laser-based systems was the dominant segment in the hair removal devices market size in the year 2021. Initial commercial introduction of the technology, extensive product portfolio, and presence of compact models with small footprints are among the major factors influencing the segment growth. However, IPL devices segment has witnessed the highest growth over the past couple of years. Relatively high efficiency and longer impact of the technology on stunting the body hair growth is expected to be the prominent factor positively affecting to growth of the segment throughout the forecast period.
- Major players operating in the Global hair removal devices market include Alma Lasers Ltd, Cutera Inc., Cynosure Inc., Fotona LLC, Lumenis Ltd, Lutronic Corp., Lynton Lasers Ltd., Sciton Inc., Solta Medical Inc., Strata Skin Sciences Inc., Syneron Medical Ltd., and Venus Concept Canada Corp
