Global Hair Removal Devices Market (2022 to 2027) - Growth, Trends, COVID-19 Impact, and Forecasts - ResearchAndMarkets.com - Business Wire

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DUBLIN--(BUSINESS WIRE)--The "Hair Removal Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The hair removal devices market is expected to register a CAGR of 9.8% over the forecast period, 2022-2027.

Companies Mentioned

Procter & Gamble (Barun)
Venus Concept
Lumenis Be Ltd.
Lutronic Inc
Lynton Lasers Ltd
Sciton
Candela Medical
Cutera
Cynosure
Viora

Key Market Trends

Laser Devices Segment is Expected to Witness Growth Over the Forecast Period

By using an aesthetic device, lasers help remove unwanted hair from all body parts. Precision, speed, and predictability in the hair removal process are some of the advantages of the laser devices for which it has gained popularity in recent years. Moreover, the article published in August 2021 titled "Laser Hair Removal" in the National Library of Medicine stated that a variety of laser devices are available and are known as the most effective options for long-term hair reduction. Hence, owing to the advantages offered by laser hair removal devices, the adoption of these products is likely to increase among the target population, ultimately driving the segment growth.

In addition, the 2020 Plastic Surgery Statistics Report published by the American Society of Plastic Surgeons stated that among all the cosmetic minimally invasive procedures performed in the United States, laser hair removal was the third most performed procedure, which accounted for 757,808 procedures in 2020, with a 5% increase from the year 2000. Thus, the increasing adoption of laser hair removal procedures creates demand for technically advanced laser hair removal devices and is creating opportunities for the growth of the segment in the future.

Furthermore, continuous product launches by major players in the market are positively affecting the growth of the segment. For instance, in January 2019, Alma Lasers announced the global launch of Soprano Titanium, an advanced laser hair removal device that combines three simultaneous wavelengths into one applicator. Furthermore, in January 2020, Lumenis Ltd. launched its newest platform, the LightSheer Quattro, at the 22nd International Master Course on Aging Science (IMCAS) conference in Paris, France. This LightSheer Quattro offers clinically proven laser hair removal treatments for all skin types with either 805nm or 1060nm wavelengths with no downtime, as well as treatment of pigmented and vascular lesions.

Therefore, the laser devices segment is expected to witness significant growth over the forecast period due to the abovementioned factors.

North America is Expected to Dominate the Hair Removal Devices Market

North America is expected to dominate the market owing to factors such as the easy availability of technologically advanced products and high awareness among consumers about physical grooming and aesthetic appearance in the region. An increase in the usage of energy-based devices for rapid and effective results in the United States is among the key factors that contribute to the growth of the studied market in North America.

Key product launches, high concentration of market players, or manufacturers' presence in the United States are some of the factors driving the growth of the hair removal devices market in the country. For instance, in May 2020, Lira Style, a Chicago-based medical device company, launched its newest platform, the Cervello, which offers clinically proven laser hair removal treatments for all skin types with a combination of 755 Alexandrite, 808 Diode, and 1064 long-pulsed YAG. Again, in January 2022, Homiley, a United States-based company, launched their at-home IPL hair removal to save women from razor bumps or ingrown hair. These continuous product launches in the region are anticipated to drive the growth of the market in the country.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Advent of Innovative and Technologically Advanced Hair Removal Devices

4.2.2 Rise in Disposable Income Levels and Spending on Personal Care Products

4.3 Market Restraints

4.3.1 High Cost of Hair Removal Devices

4.4 Porter's Five Forces Analysis