Laser Hair Removal Market Size & Share 2024 - 2032

Laser Hair Removal Market Size

The laser hair removal market size was valued at around USD 1.13 billion in 2023 and is anticipated to register a CAGR of over 18.4% between 2024 and 2032. Laser hair removal is an aesthetic procedure that employs laser technologies for complete or partial removal of hair from parts of the body. In this process, a concentrated beam of laser light is focused upon hair follicles.

The global laser hair removal market is experiencing significant growth due to the rising demand for non-invasive cosmetic treatments. With the faster recovery time and effective outcome many consumers are shifting towards non-invasive cosmetic procedures. Laser hair removal perfectly fit with this trend, as it provides a convenient and efficient alternative as compared to traditional techniques of body hair removal such as waxing and shaving.
 

Moreover, the increasing awareness regarding the aesthetic improvements and self-care across different age group is further propelling the growth of the market. For instance, in 2020, as per the data from the American Society of Plastic Surgeons an estimated 757,800 laser hair removal procedures were conducted in the U.S, with 84% performed on females.
 

Additionally, the major catalyst for the market is the consumers preference for the long-term solution over the conventional approaches. The laser hair removal technology enables long term effectiveness and provides permanent or semi-permanent reduction in hair growth, which benefits the consumers as it greatly minimizes the chances of frequent maintenance. This trend positions the laser hair removal procedure as an affordable and time-efficient solution, subsequently accelerating the growing demand in a fast-paced cosmetic industry.
 

Laser Hair Removal Market Trends

• Innovation in the aesthetic medicine, which is estimated to reach USD 52.4 billion by 2032, technology such as the medical laser have been a potential accelerator for the growth of the market. The introduction of ultra-technology has resulted in more competent and effective methods of laser hair removal.
   
• Moreover, the advancement in the laser technology such as ultra shot pulse for Q-switched lasers, larger spot size, and high peak power have significantly increased the success rate of the hair removal procedures.
   
• Additionally, the employment of fractional ablative lasers gained traction because of their safety and a broader range of applications. 
   
• Further, lenient regulatory compliance promotes innovation and market accessibility, which in turn stimulates the growth of market. It speeds up product development with fewer barriers, promoting a wider variety of manufactures and a broader range of technologies.
   
• Lower entry barriers facilitate higher availability of the services, reaching smaller clinics and fostering industry expansion, financial gains, and improved treatment alternatives.
   
• For instance, as per statistics, in the U.S. the aestheticians can perform the laser hair removal procedure on neck and face as well as the laser skin rejuvenation procedures with just an esthetics license and a doctor's supervision.
   
• Thus, balancing regulatory leniency with customer safety is vital for stimulating the innovation and revenue growth in market.
   

Laser Hair Removal Market Analysis

Based on product type, the market is segmented into diode laser, Nd: YAG laser (Neodymium Yttrium Aluminium Garnet), alexandrite laser, and other product types. The global laser market was estimated at USD 1.1 billion in 2023. The diode laser segment held revenue of USD 437.4 million in 2023 and the segment is poised for significant growth at a CAGR of 18.5% during the forecast period.
 

• The dominance of the segment is highly attributed due to the wavelength at which the diode laser operates. It operates at a wavelength of 810 nm with facilities a deeper penetration into the skin and effective targeting of hair follicles. This makes the diode laser as a suitable option for wide range of skin type including the darker skin tones.
   
• Moreover, diode laser-based devices are becoming popular for both professional use in dermatological clinics and at-home hair removal treatments. The simplicity and efficacy offered by home-use diode laser devices are further stimulating the growth of the segment. For instance, Current Body's at-home laser hair removal device is a first of its kind diode laser designed for home usage.
   
• Additionally, the growing awareness regarding the self-care and grooming, along with increasing disposable income especially in the emerging market is stimulating the demand for the diode laser procedures, thereby accelerating the growth the segment.
   

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Based on gender, the laser hair removal market is segmented into male and female. The female segment accounted for a revenue share of 84% and with revenue of USD 949.9 million in 2023.
 

• This segment has grown into a market segment leader due to substantial portion of the clientele undergoing the cosmetic procedures are women, and laser hair removal is one of those procedures that provide them a more convenient and long-term solution as compared to the other conventional methods such shaving and waxing.
   
• For instance, in 2020, as per the data from the American Society of Plastic Surgeons approximately 12.4 million women in the U.S. underwent cosmetic procedures which includes 10.4 million minimally invasive treatments and 2 million surgical cosmetic treatment.
   
• Furthermore, according to the International Society of Aesthetic Plastic Surgery women accounted for 85.7% of all cosmetic procedures performed in 2023, emphasizing the prevalent acceptance of the cosmetic procedures within the female demographic.
   
• Thus, given these factors the female segment is likely to maintain its supremacy in near future, due to the progressing beauty standards and technological innovations in the aesthetic procedure that continue to support the growth of this segment.
   

The laser hair removal market by end use is categorized into beauty clinics, dermatology clinics, medical spas, and other end users. The beauty clinics segment accounted for around USD 519 million revenue size in 2023.
 

• Beauty clinics offers a wide range of producers pertaining to aesthetic, including the laser hair removal, making them a one-stop destination for individuals seeking diverse range of services to enhance their physical appearance.
   
• For instance, as per the estimates, in 2023, there were around 1,340,159 beauty clinics across the U.S. This vast number highlights the increasing demand for laser hair removal products.
   
• Moreover, the beauty clinics offer affordable laser hair removal packages and services as compared to other facilities such as the dermatology clinics and medical spas, thus making these clinics as an attractive option for the individuals seeking budget friendly treatment without compromising the service quality.
   
• Additionally, these facilities are increasingly investing in the advance laser technologies such as the diode laser, alexandrite laser, among others in order to deliver the superior results to the client. Thus, these technological advancements enhance the treatment efficacy and safety making beauty clinics as a more preferred option for the consumers, thereby stimulating the segment growth in the market.
   

North America laser hair removal market accounted for 459.3 million revenues in 2023 and is predicted to witness substantial market growth over the analysis timeline. The U.S. market dominated the region with a revenue share of 91.3% in 2023.
 

• This growth can be largely attributed due to the high disposable income in the North America, especially in the U.S., and Canada which allows the consumers to spend on premium aesthetic procedures and self-care treatment, including the laser hair removal procedures.
   
• For instance, according to the Statista, around 7.4 million people in the U.S. underwent the cosmetic procedures in the year 2022.
   
• Moreover, the influence of social media platform and beauty influencers plays a prominent role in shaping the consumers preference towards the smooth and hair free skin, further propelling the growth of the market in the region.
   

Europe:

The laser hair removal market in the UK is projected to grow significantly from 2024 to 2032.
 

• The increasing population of the younger generation in the country is propelling the growth of the market.
   
• For instance, in 2022, as per data from the Statista, the younger generation population aged 18-25 years in the country was around 7.5 million. These demographic individuals embrace laser hair removal as an efficient, effective, and long-term solution to remove unwanted hair as compared to other traditional methods such as shaving and waxing, thereby propelling the growth of the market.
   

Asia Pacific:

The laser hair removal market in the Japan is projected to grow significantly from 2024 to 2032.
 

• Increasing number of aesthetic procedures performed in the country is stimulating the growth of the market.
   
• For example, according to the Statista, in 2020, 835.6 thousand aesthetic non-invasive procedures and 222.6 thousand surgical aesthetic procedures were performed. Among them laser hair removal and botulinum toxin injection procedures were widely performed across the country.
   

Middle East and Africa:

The laser hair removal market in the Saudi Arabia is projected to grow significantly from 2024 to 2032.
 

• The growing preference toward the non-invasive cosmetic procedures among the men and women of the country, stimulated by self-consciousness and cultural preference toward the hair free skin is anticipated to propel the market growth in the country.
   
• Moreover, innovations in the laser technology inclusive of the various devices that can cater to different skin tones and reduce discomfort further boosting the market penetration of these devices in the country.
   

Laser Hair Removal Market Share

The top players of the market account for approximately 45% of the market share which includes companies such as Cutera, Inc, Venus Concept, Lumenis, Cynosure, Candela Corporation, among others. Moreover, strategic partnerships with beauty clinics, dermatologists, cosmetics research institutes, and government agencies play a primary role in advancing the development of products and getting the necessary permits. The development of public awareness through the social media platform and beauty influencers will encourage more individuals to seek the laser hair removal treatment, enabling market players to strengthen their position in this growing sector.
 

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
• Quanta System
• Sciton
• Soprano Ice
• Syneron Medical Ltd.
• Venus Concept
• Viora Life
• Lumenis is the market leader in the aesthetic laser technology, with its LightSheer diode technology.
• Cutera, Inc has comprehensive product portfolio and a global distribution footprint, with their offices located in Australia, Belgium, France, Switzerland, Japan, UK, and U.S.
   

Laser Hair Removal Industry News:

• In March 2023, Asclepion Laser Technologies unveiled its latest laser system, AlexStar DUO, which was showcased at Dubai Derma. Initially launched in the Middle East, the product later became globally accessible.  AlexStar DUO combines the wavelengths 760nm and 1060 nm for optimal result. This product launch substantially expanded the company's product portfolio, providing it with a competitive edge in the market.
   
• In June 2020, Cynosure launched the Elite iQ platform, a significant upgrade from the Elite+ Aesthetic Workstation, in the U.S., Europe, and Australia. This advanced platform enabled faster treatments with higher energy levels compared to its predecessors. The innovation guaranteed permanent hair reduction in regions such as the face, back, chest, arms, underarms, bikini area, and legs. This technological leap not only expanded geographical reach but also contributed to increased market revenue for Cynosure.
   

Laser hair removal market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 to 2032 for the following segments:

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Market, By Product Type

• Diode laser
• Nd: YAG 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

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • UAE