Rising Awareness of Better Aesthetic Treatments is Expected to Drive the Market for Laser Hair Removal Market

Laser hair removal is one of the most common hair removal techniques in many countries. In this procedure, hair is removed by the action of a laser on the hair follicle. The pigment in the follicle absorbs the laser and destroys the hair, the damage to the hair follicle also restricts further growth. This technique is also being used to remove hairs on different hair-related medical conditions such as Hirsutism, the excess hairs grow in different body parts.

According to the 'UnivDatos Market Insights (UMI)' research report "Laser Hair Removal Market Analysis, 2020", the market is expected to witness growth during the forecast period (2021-2027). This can be mainly attributed to the increasing public interest in aesthetic treatments coupled with the rising participation of different sectors such as medical spas, and the healthcare sector.

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The COVID-19 pandemic had an unprecedented influence on many countries including their socioeconomic and healthcare infrastructures. The laser hair removal market also faced a negative impact due to the government's stringent measures like lockdown. As a result, establishments like medical spas and beauty clinics were shut down thus affecting the market for laser hair removal. Also, to mitigate the risk of infection, consumer postponed their treatment, thereby negatively affecting the market.

Based on Product Type, the laser hair removal market is segmented into ND: YAG, diode, alexandrite, and others and others. ND: YAG type expected to dominate the global market. ND: YAG is the most advanced and latest technology. It uses Neodymium-doped yttrium aluminum garnet crystal-based technology in which this crystal is used to generate a laser beam that is directed toward the hair follicle in which carbon pigment absorbs the beam and removes the hair from the roots. Apart from this, being the latest technology, it also overcomes the disadvantages of other methods in which the dark spots remain at the end because other laser techniques such as diode, and alexandrite targets melanin which is not a good light absorber in comparison with a carbon pigment. As a result, it leaves some dark spots at the end.

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Based on End-User, the market is fragmented into beauty clinics, hospitals, medical spas & specialty clinics, and others. During the forecast period, beauty clinics are expected to witness robust growth mainly due to easy accessibility as well as their specialization in aesthetic services. In addition, customers shifted towards beauty clinics to avoid health care infections in hospitals which were further coupled with the COVID-19 pandemic. 

APAC to witness Significant Growth
For a better understanding of the market adoption of laser hair removal Industry, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of World. During the forecast period, APAC is expected to have the highest CAGR due to growing aging population coupled with the presence of innovators in the region. Furthermore, this is expected to increase the development of novel and more efficient laser-based technology for hair removal in countries such as India, China, and other developing Asian countries.

According to UnivDatos Market Insights (UMI)', the key players with a considerable market share in the laser hair removal Market are Venn Healthcare Ltd, Venus Concept Inc., Lumenis Be Ltd., Cynosure, Cutera, Inc., Candela Corporation, Lynton lasers, Alma Lasers, Fotona d.o.o., Lutronic Inc. The players are focused on launching new solutions and services, partnerships, and collaborations with major companies expanding their geographical reach to get a competitive edge in the industry.

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"Laser Hair Removal Market Analysis, 2020" provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Laser hair removal providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors' capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

Market Segmentation:
1. By Product Type (Nd: YAG, Diode, Alexandrite, and Others)
2. By End User (Beauty Clinics, Hospitals, Medical Spas & Specialty Clinics, and Others)
3. By Region (North America, Europe, Asia-Pacific, Rest of World)
4. By Company (Venn Healthcare Ltd, Venus Concept Inc., Lumenis Be Ltd., Cynosure, Cutera, Inc., Candela Corporation, Lynton lasers, Alma Lasers, Fotona d.o.o., Lutronic Inc.)

Key questions answered in the study:
1. What are the current and future trends of the laser hair removal industry?
2. How the industry has been evolving in terms of product type and end-user areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the laser hair removal industry?
5. What is the customer orientation, purchase behavior, and expectations from the laser hair removal device manufacturers across various regions?

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UnivDatos Market Insights (UMI), is a passionate market research firm and a subsidiary of Universal Data Solutions. Rigorous secondary and primary research on the market is our USP, hence information presented in our reports is based on facts and realistic assumptions. We have worked with 200+ global clients, including some of the fortune 500 companies. Our clientele praises us for quality of insights, In-depth analysis, custom research abilities and detailed market segmentation.

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