Global Hair Removal Devices Market Insights Forecasts to 2030

• The Hair Removal Devices Market Size was valued at USD 1.5 Billion in 2021.
• The Market is Growing at a CAGR of 8.9% from 2022 to 2030
• The Worldwide Hair Removal Devices Market Size is expected to reach USD 2.7 Billion by 2030
• Asia Pacific is expected To Grow the fastest during the forecast period

The Global Hair Removal Devices Market Size is expected to reach USD 2.7 Billion by 2030, at a CAGR of 8.9 % during the forecast period 2022 to 2030.

Depilation, the deliberate removal of body hair, is another term for hair removal. Hair removal procedures may be used for cultural, religious, sanitary, aesthetic, or medicinal purposes. There are many tools available for hair removal, including lasers, lotions, razors, and others. People are increasingly turning to various hair removal treatments like intense pulse light (IPL) or laser-based devices, among others, as a result of developments in hair removal devices.

Impact Of COVID 19 On Global Hair Removal Devices Market

The COVID 19 pandemic has resulted significant impact on the global hair removal devices market. Government of various countries have imposed countrywide lockdowns and regulation which has hampered the market growth. Not only this but also the spread of COVID 19 has led to the reduction in the demand of products across aesthetic segments. Having said that, the sales of home use hair removal devices have witnessed a significant surge over the pandemic. The COVID-19 epidemic had a substantial impact on the industry's growth in its early stages; however, the market is anticipated to take off in the post-pandemic period due to the sharp rise in demand for hair removal devices around the world.

Key Driving Factors

The increasing cost of personal care items like hair removal devices is propelling the market growth due to the rising disposable income of various countries. To manufacture a wide range of affordable items for different types of customers, key market players are targeting people having low to high income have helped in order to increase consumer attraction. Early industry development was significantly impacted by the COVID-19 pandemic; however, the market is predicted to boom in the post-pandemic period due to the sharp increase in demand for hair removal devices globally.

Market Segmentation

Product Insights

Laser devices segment is dominating the market over the forecast period

On the basis of product, the global hair removal devices market is segmented into energy based devices, laser devices, intense pulse devices, and others. Among these, the laser devices segment is dominating the market over the forecast period. The growth is attributed to increasing use of these products and the speed with which they produce healing benefits. In fact, they have shown to be less uncomfortable at the time of treatment processes and safer for all skin tones as well as hair colours.

End Use Insights

Beauty clinics segment accounted the largest market share over the forecast period

Based on the product, the global hair devices market is segmented into beauty clinics, dermatology clinics, home use, and others. Among these, beauty clinics segment accounted the largest market share over the forecast period because various people are favouring hair removal procedures done at beauty salons. People also favour going to beauty clinics to get various treatments done to enhance their aesthetic attractiveness. People choose treatments at beauty clinics because they are well-equipped with cutting-edge goods and the newest technologies.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the Hair Removal Devices market over the forecast period. Some of the key variables 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 market is the rising use of laser hair removal devices for quick and effective results. Manufacturers in this area are primarily focused on the creation, marketing, and distribution of hair removal products that meet the demands of patients and healthcare professionals, particularly dermatologists.

Asia Pacific, on the other hand, is witnessing the fastest market growth over the forecast period. This is explained by a surge in the need for affordable hair removal products and higher levels of disposable income in this area. Rising consumer awareness of the safety benefits provided by laser devices is also anticipated to promote product demand and boost regional market expansion. Rapid technological development in this area will accelerate market expansion even more. Rising beauty consciousness, particularly in poorer nations, has also opened up hitherto untouched markets in the APAC region.

Recent Market Developments

• In November 2019, Venus Concept Inc. has made an announcement about ist merger with the Restoration Robotic, Inc which is going to create a reputed global medical aesthetics company.

List of Key Companies

• Cynosure, Inc.
• Solta Medical, Inc.
• Venus Concept Canada Corp.
• Lumenis
• Alma Lasers
• Viora
• Cutera
• Syneron Medical Ltd.
• Lutronic
• Sciton, Inc.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Hair Removal Devices Market based on the below-mentioned segments:

Hair Removal Devices Market, Product Analysis

• Energy based devices
• Laser devices
• Intense pulse devices
• Others

Hair Removal Devices Market, End Use Analysis

• Beauty clinics
• Dermatology clinics
• Home use
• Others

Hair Removal Devices Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa