Surge in laser removal methods, increase in new product launches, and rise in product approvals used for treating laser hair removal have boosted the growth of the global laser hair removal market. Growing use of aesthetic methods for laser hair removal will open new growth opportunities for the global market.
Portland, OR, Aug. 10, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global laser hair removal market accrued earnings worth $583.99 million in 2021, and is predicted to hit $2.51 billion by 2031, registering a CAGR of 15.7% from 2022 to 2031. The market research study provides a detailed analysis of oscillating market trends, top-most segments, value chain analysis, major investment business scenarios, regional space, and competitive landscape. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to improve their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.
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Report coverage & details:
Market Size in 2021
Market Size in 2031
No. of Pages in Report
Type, Gender, Age Group, End User, and Region
Surge in laser removal methods, increase in new product launches, and rising product approvals used for treating laser hair removal.
Rise in awareness among the youth about improved physical appearance and growing demand for laser hair removal therapy among female population.
The rise in the number of key industry players that produce new equipment and a new technique for laser hair removal.
Growing use of aesthetic methods for laser hair removal.
High costs associated with laser hair removal and risk such as redness, swelling, pigment changes, and skin irritation.
Impact of Covid-19 on Laser Hair Removal Market-
The COVID-19 pandemic severely impacted the expansion of the global laser hair removal market due to the cancellation of non-essential surgical procedures with the pandemic outbreak.
Decline in the monthly income of the global population during the COVID-19 pandemic adversely affected the growth of the global market.
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The report offers detailed segmentation of the global laser hair removal market based on type, gender, age group, end user, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
Based on type, the Alexandrite laser hair removal segment contributed the largest market share in 2021, accounting for more than two-fifths of the overall share of the global laser hair removal market. Moreover, this segment is predicted to retain its dominant status during the forecast timespan. The report also provides an overall analysis of segments such as diode laser hair removal and others.
Based on gender, the female segment held the largest share in 2021, contributing more than fourth-fifths of the overall share of the global laser hair removal market. Moreover, this segment is predicted to contribute the highest market share by 2031. Furthermore, the segment is also anticipated to record the fastest growth with a CAGR of nearly 15.8% during the forecast timeline. The report also provides an overall analysis of segments such as male.
Based on the end user, the hospitals segment held the largest share in 2021, contributing nearly half of the overall share of the global laser hair removal market. Moreover, this segment is set to maintain its domination during the forecast period. However, the clinic segment is projected to register the highest CAGR of nearly 16.5% from 2022 to 2031.
Based on region, North America contributed towards the highest market share in 2021, accounting for nearly two-fifths of the global laser hair removal market. The region is predicted to contribute majorly toward the global market share in 2031. Moreover, the Asia-Pacific laser hair removal market is slated to record the highest CAGR of 16.8% during the forecast timeline. The research also analyzes regions including Europe and LAMEA.
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Leading players of the global laser hair removal market analyzed in the research include La Mer Medical Spa & Yoga, Almas Laser, Solta Medica (Bausch Health Companies Inc.), Candela Corporation, Cutera, Cynosure, Hairline International Hair & Skin Clinic, Regeneveda, Sciton, Inc., Lira Style, Lumenis, LUTRONIC, Lynton Laser, Pure Luxe Medical, SEV Laser, SkinMD, and Venus Concept.
The report evaluates these major participants in the global laser hair removal industry. These participants have executed a spectrum of key business strategies such as the expansion of regional and customer base, product development, strategic collaborations, and joint ventures for expanding product lines in the global markets and extending the global market growth. The market research report aids the performance monitoring of each segment, positioning of each product in respective segments, and impact of new technology land product launches on the overall market size.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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