Theglobal 'laser hair removalmarket' size is projected to reach USD 1,378.4 million by 2027,exhibiting a CAGR of 15.2% during the forecast period. Wide availability ofadvanced hair removal technologies will be one of the top growth drivers forthis market, states Fortune Business Insights™ in its report, titled “LaserHair Removal Market Size, Share & COVID-19 Impact Analysis, By Product(Diode, Alexandrite, Nd: YAG, and Others), By End User (Hospitals, Medical Spas& Specialty Clinics, and Others), and Regional Forecast, 2020-2027”. Laserhair removal treatments are gaining popularity owing to their proven efficacyin preventing hair growth. To capture this trend, many companies have developeda portfolio of novel hair removal systems based on laser technology. Forinstance, Nordlys, a hair removal machine by Ellipse uses both laser (Frax 1550and Nd: YAG 1064) and Selective Waveband Technology to perform hair removalprocedures. Similarly, the Thunder MT system from Advanced Esthetics Solutionsintegrates Nd: YAG and Alexandrite lasers, enabling the machine to perform awide range of hair treatments. Thus, rising availability of such innovativehair technologies will brighten the prospects for this market in the comingyears.
Frequently Ask Question :
1) How much is the laser hairremoval market worth?
Fortune Business Insights says that the global laser hair removalmarket size was USD 551.4 million in 2019 and is expected to reach USD 1,378.4 millionby 2027.
2) What was the value of themarket in Asia Pacific in 2019?
In 2019, the Asia Pacific market value stood at USD 209.68 million.
3) At what CAGR is the marketprojected to grow in the forecast period (2020-2027)?
Growingat a CAGR of 15.2%, the market will exhibit fast growth in the forecast period(2020-2027).
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An Overview of the Impact of COVID-19 on this Market :
Theemergence of COVID-19 has brought the world to a standstill. We understand thatthis health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments andseveral companies can help in the fight against this highly contagious disease.There are some industries that are struggling and some are thriving. Overall,almost every sector is anticipated to be impacted by the pandemic.
Weare taking continuous efforts to help your business sustain and grow duringCOVID-19 pandemics. Based on our experience and expertise, we will offer you animpact analysis of corona virus outbreak across industries to help you preparefor the future.
As per the report, the value of the global market stood at USD551.4 million in 2019. The other highlights of the report include:
- Targeted analysis of the impact of COVID-19 on the market;
- Detailed study of the factors, trends, and constraints shaping the market;
- Careful evaluation of the regional dynamics influencing the market; and
- Thorough profiling and examination of the key market players and their strategies.
Market Restraint
COVID Regulations to Halt Progress of the Market
Tocontain the spread of the coronavirus, countries around the world haveimplemented stringent measures in the form of lockdowns and social distancing.With medical professionals focused on treating COVID-19 patients, resourceshave been diverted away from elective procedures. This has spelled doom for theaesthetics industry and the laser hair removal market growth as most of theprocedures and treatments in this domain are non-essential. Moreover, fears ofgetting infected have deterred people from visiting clinics and other healthfacilities, thus contracting the demand for hair removal and other aestheticprocedures. Now, many governments are now allowing partial resumption ofservices. However, businesses are being made to follow strict guidelines andmany of them are abiding by them, keeping in mind the safety of their customersas well as employees. For example, New England-based Skin & Laser SurgeryCenter announced that it will be implementing the recommendations issued by theCenters for Disease Control and Prevention (CDC) and the Occupational Safetyand Health Administration (OSHA) under their list of ‘Universal Precautions’.
Regional Insights
Rising Purchasing Power in India and China to Fuel the Market inAsia Pacific
AsiaPacific, where the market size stood at USD 209.7 million in 2019, is expectedto dominate the laser hair removal market growth during the forecast periodowing to rising disposable income and purchasing power in the rapidly developingeconomies of India and China. Increasing accessibility of advanced hair removaltreatments is another factor that is anticipated to propel the market in thisregion.
InNorth America, the market will be primarily driven by the enthusiastic adoptionof modern aesthetic technologies in the region. This has been made possible bythe high spending ability of the people in the region along with a strongpresence of specialized hair treatment clinics in the region. On the otherhand, Europe is expected to maintain a prominent position in the market asreimbursement policies for non-essential procedures are extremely strong in theregion.
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List of Companies Profiled in this Market Report:
- CANDELA CORPORATION (Massachusetts, U.S)
- Lynton Lasers Ltd (U.K.)
- Alma Lasers (Israel)
- Fotona (Texas, U.S)
- Venus Concept (Toronto, Canada)
- Venn Healthcare (U.K.)
- Sciton, Inc. (California, U.S)
- Lumenis Ltd. (Israel)
- Cynosure (Massachusetts, U.S)
- Cutera (California, U.S)
Table Of Content :
- Introduction
- Market Scope
- Market Segmentation
- Market Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview: Impact of COVID-19 on Laser Hair Removal
- New Product Launch
- Snapshot of Regulatory Scenario
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
Continue…
Competitive Landscape
Product Innovations to Command Attention of Key Players
Competitionin this market is tight as key companies are focused on designing anddeveloping innovative products to attract customers. These players are alsotaking exigent steps to sustain their business during the health crisis createdby the coronavirus.
Industry Developments:
- May 2020: US-based medical device company, Lira Style, released its new aesthetics platform called “Cervello”. The platform is essentially a device allows clinically proven laser hair removal procedures on all skin types, combining 1064 long pulsed YAG, 808 diode, and 755 Alexandrite.
- January 2019: Alma Lasers announced the worldwide launch of Soprano Titanium, its novel laser hair removal system. It combines the company’s four proprietary technologies: 3D, simultaneous lasing in three wavelengths; Quattro, an extra-large spot size; ICE Plus, advanced cooling system; and Smart Clinic, a cloud-based business development platform.
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Segments Covered in the Report
By Product
- Nd: YAG
- Diode
- Alexandrite
- Others
By End User
- Hospitals
- Medical Spas and Specialty Clinics
- Others
By Geography
- North America
- By Product
- By End User
- By Country
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