Laser Hair Removal Market size was approximately USD 1.13 billion in 2023 and is expected to achieve a CAGR of more than 2.7% from 2024 to 2032. Laser hair removal is a skin treatment that uses laser technology to remove or minimize unwanted body hair. The procedure uses a focused beam of light (laser) that is targeted into the hair follicles.
Non-invasive cosmetic procedures are more favored by consumers due to their fewer complications, shorter recovery periods, and less pain. Laser hair removal, being non-surgical and minimally invasive, is a desirable option for individuals willing to undergo cosmetic improvement without surgery. For example, according to the American Society of Plastic Surgeons, in 2020, about 757,800 laser hair removal procedures were performed in the U.S., and 84% of them were done on women.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Laser Hair Removal Market Size in 2023 | USD 1.13 Billion |
| Forecast Period | 2024 – 2032 |
| Forecast Period 2024 – 2032 CAGR | 18.4%% |
| 2024 – 2032 Value Projection | USD 5.16 Billion |
| Historical Data for | 2018 – 2023 |
| No. of Pages | 143 |
| Tables, Charts & Figures | 211 |
| Segments covered | Product Type, Gender, End-use & Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Laser Hair Removal Market Trends
Advancements in aesthetic medicine that is projected to reach USD 61.2 Billion by 2032, including medical laser have been a major driver for the market. The advent of ultra-technology has been a major shift in the industry, enhancing the effectiveness and efficiency of laser hair removal. Larger spot sizes, high peak power, and ultra-short pulse have also enhanced the success rate of hair removal using Q-switched lasers. Additionally, fractional ablative lasers have found popularity because of its safety and broad range of applications.
Relaxed regulatory compliance is a market stimulator, creating a culture of innovation and market access. With less hindrance, it speeds up product development, stimulating various manufacturers and more varieties of technologies.
Reduced barriers to entry raise the level of services available, extending to smaller clinics and fueling industry growth, economic returns, and better treatment options.
For example, California is a case of a state with comparatively loose regulations for aestheticians working lasers for hair removal. The aestheticians are allowed to carry out laser hair removal on the face and neck and laser skin rejuvenation with only an esthetics license and physician supervision.
Therefore, finding a balance between regulatory laxity and consumer protection continues to be important for the long-term positive effect on innovation and market growth in laser hair removal.
Laser Hair Removal Market Analysis
Get to know the prominent segments that are defining this market
Segmented based on product type, the market includes diode laser, NdYAG laser (Neodymium Yttrium Aluminium Garnet), alexandrite laser, and other product types. The diode laser segment is expected to witness high growth at a CAGR of 18.5% over the forecast period.
This expansion is driven by its versatility and efficacy on different skin types and hair colors. Its longer wavelength allows for deep penetration into hair follicles, reducing the risk of damage to surrounding skin and allowing for a painless treatment experience for patients.
The accuracy of the diode laser, its safety record, and acceptance in clinics and medical spas worldwide have all gone together to support its large market share, placing it as the practitioner and consumer choice for effective, long-lasting hair removal.
Segmented by gender, the laser hair removal market can be divided into male and female. The female segment held a revenue share of 84% in 2023 and is projected to experience similar trend during the next few years.
Women form a considerable part of the customer base undergoing cosmetic treatments, and laser hair removal provides them with a convenient and long-lasting solution compared to conventional techniques.
In 2020, the American Society of Plastic Surgeons stated that females in the U.S. received around 12.4 million cosmetic procedures, with 2.0 million surgical and 10.4 million minimally invasive procedures.
Additionally, females accounted for approximately 94% of all the recipients of cosmetic procedures, pointing towards the general commonality of such procedures among females.
Hence, the importance of the female segment in the market highlights the popularity of the procedure and the procedure’s suitability to address the aesthetic and grooming needs of a large female population.
The market for laser hair removal by end-use is segmented into beauty clinics, dermatology clinics, medical spas, and other end-users. The segment of beauty clinics had approximately USD 519 million revenue size in 2023.
Beauty clinics are well-known for providing an extensive variety of cosmetic and aesthetic treatments, such as laser hair removal, which makes them the most sought-after places by those looking for various services to make them look more physically appealing.
The ease of gaining access to various treatments in the same place is among the reasons why beauty clinics are so popular. Moreover, most such businesses tend to focus on the newest technologies and trends in the beauty market, ensuring high-end laser hair removal solutions to their consumers.
The beauty clinics segment has therefore successfully captured the market, a testament to its capacity to meet the diverse demands of consumers who require both conventional and cutting-edge cosmetic procedures.
Laser Hair Removal Market Share
The laser hair removal industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players including Cutera, Inc, Quanta System, Lumenis, among others have a notable presence in the market.
Laser Hair Removal Market Companies
Some of the eminent market participants operating in the laser hair removal industry include
- Asclepion Laser Technologies
- Candela Corporation
- Cutera, Inc
- Cynosure
- Fotona
- Lumenis
- Lutronic Corporation
- Quanta System
- Sciton
- Soprano Ice
- Syneron Medical Ltd.
- Venus Concept
- Viora Life
Market, By Product Type
- Diode laser
- NdYAG laser (Neodymium Yttrium Aluminum Garnet)
- Alexandrite laser
- Other product types
Market, By Gender
- Female
- Male
Market, By End-use
- Beauty clinics
- Dermatology clinics
- Medical spas
- Other end-users
