Hair Removal Devices Market Size And Forecast
Hair Removal Devices Market size was valued at USD 1.19 Billion in 2021 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 10.36% from 2023 to 2030.
The market is boosted by development in beauty awareness primarily among women has driven the growth of the Hair Removal Devices Market. A rise in awareness regarding grooming together with the rise in disposable income is the major factor driving the development of the Hair Removal Devices Market. Moreover, with rising inclination towards trendy and fashionable looks are the factor responsible for the Hair Removal Devices Market growth. The Global Hair Removal Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Hair Removal Devices Market Definition
Hair removal is also referred to as depilation that is, deliberately removing the body hair. Hair removal might be practiced for medical, aesthetic, hygienic, religious, or cultural reasons. Hair removal could be done using a variety of devices such as laser devices, creams, razors, and others. Owing to advancements in hair removal devices, individuals are inclined toward various hair removal techniques such as Intense Pulse Light (IPL) or laser-based devices and others.
Developing importance about appearance, rapidly changing magnificence principles amongst people, and demand for laser Hair Removal treatment are boosting factors for boosting the Hair Removal Devices Market. Also, the simple accessibility of advanced Hair Removal Devices through retail locations and online businesses and expanding adoption of such gadgets at home are anticipated to drive the development of the global market.
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Global Hair Removal Devices Market Overview
The main growth factor for the Hair Removal Devices Market is the rising interest of the younger generation of customers in having a body free of hair. A clean body without hair enhances their confidence and supports them to look tidy. The increase in the trend towards keeping optimal aesthetic beauty around the world acts as one of the key factors driving the development of the Hair Removal Devices Market. The easy accessibility of hair removal devices in the market which provides affordable prices of hair removal devices, instant hair removal solutions, and no side effects of these devices are boosting the growth of the Global Hair Removal Devices Market.
Nonetheless, the significant cost of Hair Removal Devices and the requirement of different medicines might restrict the market development over the forecast time frame. There has been a surge in the availability of technologically developed products. For instance, there have been constant improvements in laser techniques, that have improved their efficiency and cost-effectiveness. Therefore, advantages associated with the use of technologically developed products are encouraging people to use these tools. Moreover, the prominent players are involved in strategic collaborations, product approvals, and new product launches that help to support their market position.
Global Hair Removal Devices Market: Segmentation Analysis
The Global Hair Removal Devices Market is Segmented on the basis of Product, Application, End User, And Geography.
Hair Removal Devices Market, By Product
- Laser Devices
- Intense Pulse Light Devices
- Others
Based on Product, the market is segmented into Laser Devices, Intense Pulse Light Devices, and Others. Laser Devices accounted for a significant market share in the Hair Removal Devices Market due to the wide adoption of these products on account of their rapid treatment outcomes. They have been confirmed to be safer for all hair colors & skin tones and assist in less painful treatment techniques. With technological advancements, such products are anticipated to dominate the market over the forecast period.
Hair Removal Devices Market, By Application
- Facial Hair Removal
- Legs
- Hands
- Others
Based on Application, the market is segmented into Facial Hair Removal, Legs, Hands, and Others. Facial Hair Removal accounted for the largest market share in 2021. It is generally utilized inferable due to its reshaping nature to a face using facial dressers. It incorporates types such as eyebrows, brows, upper lips, and others. The gadget is used in salons by beauticians that have prompted the growth of the Hair Removal Devices Market.
Hair Removal Devices Market, By End User
- Dermatology Clinics
- Beauty Clinics
- Home Use
Based on End User, the market is segmented into Dermatology Clinics, Beauty Clinics, and Home Use. Beauty Clinics accounted for the largest market share in 2021 as a high number of people choose to undergo the hair removal process at beauty clinics. Furthermore, people choose to visit beauty clinics to undertake other procedures to enhance their aesthetic appeal. Beauty clinics are completely equipped with advanced products along with the latest technologies, owing to which, people choose treatments in these clinics.
Hair Removal Devices Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
The Global Hair Removal Devices Market is segmented on the basis of geography into North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest market in the Global Hair Removal Devices Market in 2021. Easy accessibility of technologically developed products and high awareness levels amongst customers regarding physical grooming are some of the key factors responsible for the development of the regional market. A rise in the utilization of laser hair removal devices for effective and rapid results in the U.S. is among the key factors supporting to the country’s lead in the North American market. Companies in this region are mainly focusing on the development, distribution, and commercialization of hair removal products that satisfy to the needs of patients, especially dermatologists, and healthcare professionals.
Key Players
The “Global Hair Removal Devices Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Cynosure, Inc., Solta Medical, Inc., Venus Concept Canada Corp., Lumenis, Alma Lasers, Viora, Cutera, Syneron Medical Ltd., Lutronic, and Sciton, Inc.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
Key Developments
- In June 2022, Cynosure, a company that offers laser and RF (radio frequency) technologies, rolled out Elite iQ aesthetic workstation for laser hair removal. Patented with Skintel technology, the Elite iQ platform is suitable for all skin types and offers customized laser hair removal treatment.
- In March 2022, aesthetic device company Lumenis launched the Splendor X device in the United Kingdom market. The new device is CE cleared for hair removal, vascular treatments, pigmented lesions, and the treatment of wrinkles.
- In January 2020, Lumenis Ltd., the world’s leading energy-based medical device company, launched a new platform – LightSheer Quattro. The platform offers clinically validated laser hair removal treatments for all skin types using either 805nm or 1060nm wavelengths with no downtime.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Hair Removal Devices Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Hair Removal Devices Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2018-2030 |
| Base Year | 2021 |
| Forecast Period | 2023-2030 |
| Historical Period | 2018-2020 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Cynosure, Inc., Solta Medical, Inc., Venus Concept Canada Corp., Lumenis, Alma Lasers, Viora, Cutera. |
| Segments Covered | By Product, By Application, By End User, And By Geography |
| Customization Scope | Free report customization (equivalent to up to 4 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
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Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with ourSales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
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Frequently Asked Questions
Hair Removal Devices Market was valued at USD 1.19 Billion in 2021 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 10.36% from 2023 to 2030.
What are the key driving factors for the growth of the Hair Removal Devices Market?
The market is boosted by development in beauty awareness primarily among women has driven the growth of the Hair Removal Devices Market.
What are the top players operating in the Hair Removal Devices Market?
The major players are Cynosure, Inc., Solta Medical, Inc., Venus Concept Canada Corp., Lumenis, Alma Lasers, Viora, and Cutera.
What segments are covered in the Hair Removal Devices Market report?
The Global Hair Removal Devices Market is Segmented on the basis of Product, Application, End User, And Geography.
How can I get a sample report/company profiles for the Hair Removal Devices Market?
The sample report for the Hair Removal Devices Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
1 INTRODUCTION OF GLOBAL HAIR REMOVAL DEVICES MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL HAIR REMOVAL DEVICES MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL HAIR REMOVAL DEVICES MARKET, BY PRODUCT
5.1 Overview
5.2 Laser Devices
5.3 Intense Pulse Light Devices
5.4 Other
6 GLOBAL HAIR REMOVAL DEVICES MARKET, BY APPLICATION
6.1 Overview
6.2 Facial Hair Removal
6.3 Legs
6.4 Hands
6.5 Others
7 GLOBAL HAIR REMOVAL DEVICES MARKET, BY END USER
7.1 Overview
7.2 Dermatology Clinics
7.3 Beauty Clinics
7.4 Home Use
8 GLOBAL HAIR REMOVAL DEVICES MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East & Africa
9 GLOBAL HAIR REMOVAL DEVICES MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Share
9.3 Key Development Strategies
10 COMPANY PROFILES
10.1 Cynosure, Inc.
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 Solta Medical, Inc.
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Venus Concept Canada Corp.
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Lumenis
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Alma Lasers
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 Viora
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 Cutera
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 Syneron Medical Ltd.
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 Lutronic
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
10.10 Sciton, Inc.
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments
11 Appendix
11.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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