Global Hair Removal Devices Market to Surpass US$ 1.73 Billion by 2025
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The hair removal devices market was valued at US$ 815.0 million in 2016 and is projected to reach US$ 1,730.6 million by 2025, exhibiting a CAGR of 8.9% over the forecast period, according to Global Hair Removal Devices Market Report, by Product Type (Energy-Based Devices, Laser-Based Devices, and Intense Pulse Light (IPL) Devices), by End User (Dermatology Clinics and Beauty Clinics), published by Coherent Market Insights.
Hair removal devices are equipment used for hair removal in commercial spaces such as the beauty and dermatologist clinics. High inclination of consumers towards less painful, non-invasive, and non-surgical procedures for personal grooming is expected to be among the prominent factors influencing the adoption of these devices at these aforementioned commercial spaces.
Key Trends and Analysis of the Global Hair Removal Devices Market:
- Among product types, laser-based systems was the dominant segment in the hair removal devices market size in 2016. Initial commercial introduction of the technology, extensive product portfolio, and presence of compact models with small footprints are among the major factors influencing the segment growth. However, IPL devices segment has witnessed the highest growth over the past couple of years. Relatively high efficiency and longer impact of the technology on stunting the body hair growth is expected to be the prominent factor positively affecting to growth of the segment throughout the forecast period.
- Among end users, beauty clinics segment accounted for the largest market share in 2016, and is expected to remain dominant over the forecast period. Clinics managed and run under the name of popular beauty experts and multi-chain clinics are among the major end users. For instance. Anoo’s Salon & Clinic (India), Mayo Clinic (South Africa), Global Health & Beauty Clinic (U.K.), and Kaya (India) are among some of the popular brand names. However, lack of expertise in handling these systems and fear of side effects has led to inclination of consumers towards getting treatment from clinically approved dermatologists. Thus, to ensure minimum or no side effects and proper expertise are factors expected to aid in growth of the dermatologist clinics segment with the highest CAGR over the forecast period.
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Key Takeaways of the Market:
- According to Coherent Market Insights’ analysis, North America hair removal devices market accounted for the largest share in the global market and is expected to witness highest growth over the forecast years. This is owing to high consumer inclination towards these treatments to stay in line with the regional fashion trends. Consumers are focusing on removing excess of unwanted hair in both genders that includes the face, leg, arm, underarm, and bikini line by using these treatments.
- Professional footballers, road cyclists, and athletes are prone to crashes or injuries. In case of injuries, such as scarring, requires cleaned skin surfaces for efficient treatment. Also, professional athletes and aforementioned sports personnel are more inclined towards these treatments. These trends are expected to offer strong growth prospects to the hair removal devices market over the forecast period.
According to Coherent Market Insights’ research, business generated at beauty and dermatology clinics have witnessed significant increase in the months of February, in weeks leading to February 14, referred to as the Valentine’s Day. For instance, Uni K Wax witnessed an increase of around 40% business in these weeks in 2014 and 2015. To capitalize on these seasonal increased consumer demands, demand for these devices will be relatively be high from clinics. This will present as a lucrative growth opportunity for the industry participants. Some of the major players in the global hair removal devices market include Alma Lasers Ltd., Cutera Inc., Cynosure Inc., Fotona d.d., Lumenis Ltd., Lutronic Corp., Lynton Lasers Ltd., Sciton Inc., Solta Medical Inc., Strata Skin Sciences Inc., Syneron Medical Ltd., and Venus Concept Canada Corp.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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