Laser Hair Removal Market Size & Trends
The size of the global laser hair removal market was USD 1,087.5 million in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 18.8% till 2030. The changing trend towards achieving optimal aesthetic beauty is one of the key factors driving the market. Additionally, growing awareness about the safety provided by aesthetic lasers is driving the growth of the market. Increased technological development in aesthetic lasers is driving the market’s growth. An example is the blending of modalities, established by Quanta Systems in the Thunder MT system, which is among the recent technologies observed. This technology is also efficient in other treatments like blue veins, which cannot be treated using Nd: YAG alone. Blending modalities are becoming more popular with excellent outcomes in a single treatment. It enables the experts to perform photo-rejuvenation facials within just 15 minutes.
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| Segments covered | Product Type, Gender, End-use & Region |
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Laser Hair Removal Market Trends
Advancements in aesthetic medicine which is predicted to grow to USD 61.2 Billion by 2032, like medical laser have been a key driver for the market. Ultra-technology introduction has been a significant shift in the market, increasing the efficiency and effectiveness of laser hair removal. The application of bigger spot sizes, high peak power, and ultra-short pulse for Q-switched lasers have also enhanced the success rate of hair removal. In addition, the application of fractional ablative lasers has become popular because it is safe and has a broad range of applications.
Relaxed regulatory compliance is a market stimulant, creating a culture of innovation and market accessibility. With fewer barriers, it speeds up product development, stimulating varied manufacturers and more technologies.
Reduced entry barriers enhance the supply of services, extending to smaller clinics and adding to industry growth, economic gain, and increased treatment options.
For example, California is one such state where the regulations are quite lenient for aestheticians performing laser hair removal. The aestheticians are able to conduct laser hair removal of the face and neck and laser skin rejuvenation with only an esthetics license and physician supervision.
Therefore, the balance of regulatory leniency and consumer safety continues to be essential to the continued positive effect on innovation and market growth in laser hair removal.
Laser Type Insights
Diode lasers segment was the market leader with a largest revenue share of 38.9% of the laser hair removal industry in 2023 due to high precision provided. Diode lasers are able to target a specific body area selectively and efficiently eliminate the hair without damaging the rest of the skin area. In addition, the affordable time required for eliminating hair based on the body area and amount of hair is increasing the product demand.
These lasers work best for dark terminal hair and are relatively less effective on light skin. Attempts are, however, being made by the manufacturers in this regard too. They operate over wider body areas and have high repetition rates. This pleasant feature of the diode lasers is likely to contribute heavily towards market growth in the future.
Nd: YAG laser segment shall grow at a CAGR of 20.1% during the forecast period. Nd: YAG lasers are longer wavelength lasers producing 1064nm wavelength. These lasers are ideal for darker skin phototypes. Nd: YAG lasers are giving safer and improved results on terminal and intermediate hairs, thereby driving the growth of this segment.
Regional Insights
North America led the worldwide laser hair removal market in 2023 with a share of 34.4%, due to rising demand for hair removal procedures, well-established dermatology centers, and the presence of more trained professionals in the region. Aesthetic lasers are used extensively by professionals in North America for many purposes. In 2019 approximately 457 thousand laser hair removal procedures were performed in the USA. In addition, the high number of players in the region is anticipated to be among the key drivers of the market growth within the region. For example, Venus Concept, a world leader in medical aesthetic technology, in June 2020 revealed that it had gained FDA 510(k) clearance for marketing and selling Venus Epileve. It is designed to manage hair removal, permanent hair reduction, and pseudofolliculitis barbae. Solta Medical, a leading company in the U.S., revealed in March 2021 that it was introducing the Clear+Brilliant Touch laser, bringing a personalized and more advanced treatment protocol through the ability to treat patients of all ages and skin types.
Laser Hair Removal Market Analysis
Discover more about the most important segments driving this market
On the basis of product type, the market is categorized into 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% during the forecast period.
This development is driven by its efficacy and adaptability in diverse skin types and hair colors. Its increased wavelength guarantees deep penetration into the hair follicles with reduced chances of harming adjacent skin, allowing patients to experience comfortable treatment.
The precision, safety profile, and extensive use of the diode laser in clinics and medical spas have all combined to give it a substantial market share, which has made it the go-to solution for practitioners and consumers looking for an effective, long-term hair removal solution.
Discover more about the dominant segments driving this market
On the basis of gender, the market for laser hair removal is divided into male and female. The female segment held a revenue share of 84% in 2023 and is projected to exhibit the same trend in the coming years.
Women form a large part of the customer base for cosmetic treatments, and laser hair removal provides them with a long-term and hassle-free solution as opposed to conventional methods.
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
