Hair Removal Devices Market Insights:
Hair Removal Devices Market is projected to be worth USD 1,934.36 Million by 2030, registering a CAGR of 8.7% CAGR during the forecast period (2022-2030), the market was valued at USD 913.00 Million in 2021. Due to the widespread use of these goods due to their quick treatment outcomes, the laser devices segment accounted for the greatest portion of the global revenue in 2021, accounting for a 45.2% share. Increasing consumer preference towards hair removal services at beauty clinics is the factor boosting the growth of the beauty clinics segment that led the market in 2021. In 2021, North America held the largest market share, contributing more than 35.5% of worldwide sales due to the availability of technologically sophisticated products and increasing consumer awareness in terms of aesthetics.
Hair Removal Devices Market Dynamics:
One technique to get rid of extra body hair is to shave. The hair grows back, though, and shaving them frequently makes them hard. There are many hair removal products on the market to help with the problem of the growth of unwanted hair. Additionally, the appeal of dermatology and beauty clinics has recently increased significantly. As a result, the market for hair removal tools and procedures has also experienced a significant increase. Consumers’ increasing attention to their physical appearance has increased their interest in non-invasive and non-surgical hair removal techniques. Additionally, there has been an increase in demand for alternative techniques including hand hair clipping and waxing.
Driver:
High product demand is a result of people’s increasing knowledge of the need of maintaining their aesthetics and physical appearance. Spending on personal care items is rising together with levels of disposable income. Product sales have increased as a result. Additionally, the preference for non-invasive methods of personal grooming is growing as more modern products are introduced. Hence, these factors are driving the growth of the hair removal devices market.
Restraint:
The extreme cost of laser items is anticipated to be a barrier for those living in developing nations in the hair removal devices market. For instance, a single session of leg hair removal treatment costs about USD 800. This affects their purchasing power and causes sluggish growth in emerging countries. Hence, the above-mentioned factors are expected to hamper the growth of the hair removal devices market.
Opportunities
Key companies in the global hair removal devices market have opportunities to grow their businesses due to increased spending in research and development for breakthroughs in the hair removal market. Further, manufacturers’ initiatives to connect with consumers and offer them simple-to-use products have led to an increase in demand for hair removal products.
COVID-19 Analysis of Hair Removal Devices Market:
The COVID-19 epidemic caused a decline in the global market in 2020. One of the factors driving the market is the increase in beauty concern and knowledge of enhancing the aesthetic appeal. The beauty sector had suffered owing to the COVID-19 pandemic. Sales across various beauty segments have decreased as a result of the lockdown and restrictions, which have altered consumer and user behavior in the beauty and personal care market.
Hair Removal Devices Market Report Cover:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Million) | 1,934.36 Million |
| CAGR (2022-2030) | 8.7% |
| By Product | Laser Devices, Intense Pulse Light Devices, Other Energy-based Devices |
| By Application | Facial Hair Removal, Legs, Hands, Others |
| By End-use | Beauty Clinics, Dermatology Clinics, Home Use |
| By geography | North America– (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe) Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific) Latin America- (Brazil, Argentina, Chile, Rest of Latin America) The Middle East and Africa- (GCC, Turkey, Israel, Rest of MEA) |
| Key Players | Solta Medical Inc., Cynosure Inc., Lumenis, Venus Concept Canada Corp., Alma Lasers, Lutronic, Cutera, Syneron Medical Ltd., Sciton Inc., Viora, Panasonic Corporation, Home Skinovations Ltd, Procter & Gamble Company, iluminApplication Beauty Inc., Koninklijke Philips N.V, Dermacell Private Limited, LASERBIO OPTOTECH LLP |
Hair Removal Devices Market Segment Analysis:
By Product
The hair removal devices market based on product segment has been segmented into laser devices, devices that use intense pulsed light, and other energy-based devices. Due to the widespread use of these goods due to their quick treatment outcomes, the laser devices segment accounted for the greatest portion of the global revenue in 2021, totaling more than 45.10%. They are less uncomfortable during treatment processes and safer for all skin tones and hair colors. These items are anticipated to continue to rule the market during the forecast period thanks to technological advances.
By Application
The application segment is divided into facial hair removal, hand, legs, and others in the hair removal devices market. The hand segment is expected to dominate the growth of the market during the forecast period. The factors contributing to the growth of the market are increasing hair removal products and their benefits such as smooth texture on the skin, removal of sunburn, and others. Further, other segments such as legs, facial hair removal, and others are expected to boost the growth of the hair removal devices market during the forecast period.
By End-Use
The global hair removal devices market has been divided into three categories based on end uses beauty clinics, dermatological clinics, and home use. Increasing consumer preference towards hair removal services at beauty clinics is the factor boosting the growth of the beauty clinics segment led the market in 2021 and accounted for the highest revenue share of more than 54.1%. People also choose to go to beauty clinics to get other treatments done to enhance their aesthetic attractiveness. Moreover, treatments at beauty clinics are highly preferred by consumers as they are well-equipped with cutting-edge goods and the newest technologies. This factor is expected to boost the growth of the hair removal device market.
By Region
In 2021, North America held the largest market share, contributing more than 35.5% of worldwide sales in the hair removal devices market. Some of the key factors influencing the growth of the regional market are the ease with which technologically sophisticated products are available and the rising levels of consumer awareness regarding physical grooming. One of the main elements influencing the U.S.’s dominance in the North American regional hair removal devices market is the rising use of laser hair removal technologies for quick and effective results. Manufacturers in this area are primarily concentrating on the creation, marketing, and distribution of hair removal products that meet the demands of patients and healthcare professionals, particularly dermatologists.
Hair Removal Devices Market Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), Product & Service innovation, various business strategies, and Product & Service launches have accelerated the growth of the Hair Removal Devices market. Key players in the market include-
- Solta Medical, Inc.
- Cynosure, Inc.
- Lumenis
- Venus Concept Canada Corp.
- Alma Lasers
- Lutronic
- Cutera
- Syneron Medical Ltd.
- Sciton, Inc.
- Viora
- Panasonic Corporation
- Home Skinovations Ltd
- Procter & Gamble Company
- iluminApplication Beauty Inc.
- Koninklijke Philips N.V
- Dermacell Private Limited
- LASERBIO OPTOTECH LLP.
Table of Content
- Introduction
- Market Introduction
- Market Research Methodology
- Research Process
- Primary Research
- Secondary Research
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Limitations of the Study
- Product Picture of Hair Removal Devices
- Global Hair Removal Devices Market: Classification
- Geographic Scope
- Years Considered for the Study
- Research Methodology in brief
- Parent Market Overview
- Overall Hair Removal Devices Market Regional Demand
- Research Programs/Design
- Market Breakdown and Data Triangulation Approach
- Data Source
- Secondary Sources
- Primary Sources
- Primary Interviews
- AverApplication primary breakdown ratio
- Market Dynamics
- Drivers
- Drivers
- Restraints
- Restraints
- Opportunity
- Impact forces on market dynamics
- Impact forces during the forecast years
- Industry Value Chain
- Upstream analysis
- Downstream analysis
- Therapeutic
- Direct Channel
- Indirect Channel
- Potential Customers
- Manufacturing/Operational Cost Analysis
- Pricing Analysis by Region
- Key Product Landscape
- Regulatory Analysis
- Porter’s Analysis
- Supplier Power
- Buyer Power
- Substitution Threat
- Threat from New Entry
- Competitive Rivalry
- PESTEL Analysis
- Political Factors
- Economic Factor
- Social Factors
- Technological Factor
- Environmental Factors
- Legal Factor
- Covid-19 impact on Global Economy
- Covid-19 impact on Hair Removal Devices Market demand
- Post-Covid Impact on Hair Removal Devices Market Demand
- Impact Analysis of Russia-Ukraine Conflict
- Drivers
- Global Hair Removal Devices Market Segmentation, Revenue (USD Million), (2022-2030)
- By Product
- Laser Devices
- Diode Laser
- Nd: YAG Laser
- Alexandrite Laser
- Intense Pulse Light Devices
- Other Energy-based Device
- By Application
- Facial Hair Removal
- Legs
- Hands
- Others
- By End-Use
- Beauty Clinics
- Dermatology Clinics
- Home Use
- By Product
- By Global Hair Removal Devices Market Overview, By Region
- North America Hair Removal Devices Market Revenue (USD Million), by Countries, (2022-2030)
- US
- By Product
- By Application
- By End-Use
- Canada
- Mexico
- US
- Europe Hair Removal Devices Market Revenue (USD Million), by Countries, (2022-2030)
- France
- UK
- Spain
- Russia
- Italy
- BENELUX
- Asia Pacific Hair Removal Devices Market Revenue (USD Million), by Countries, (2022-2030)
- China
- Japan
- Australia
- South Korea
- India
- ASEAN
- North America Hair Removal Devices Market Revenue (USD Million), by Countries, (2022-2030)
- Latin America Hair Removal Devices Market Revenue (USD Million), by Countries, (2022-2030)
- Brazil
- Argentina
- Chile
- The Middle East and Africa Hair Removal Devices Market Revenue (USD Million), by Countries, (2022-2030)
- GCC
- Turkey
- South Africa
- Global Hair Removal Devices Market Revenue: Competitive Analysis, 2021
- Key strategies by players
- Revenue (USD Million and %), By manufacturers, 2021
- Player Positioning by Market Players, 2021
- Competitive Analysis
- AbbVie, Inc.
- Business Overview
- Business Financials (USD Million)
- Product Category, Source, and Specification
- Main Business/Business Overview
- Geographical Analysis
- Recent Development
- Swot Analysis
- AbbVie, Inc.
- Bayer AG
- Merck & Co., Inc.
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
- Agile Therapeutics
- Amgen, Inc.
- Apothecus Pharmaceutical Corp.
- Blairex Laboratories, Inc.
- Ferring B.V.
- AbbVie, Inc.
- Market Research Findings & Conclusion
Disclaimer
Research Methodology
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