Laser Hair Removal Market Size, Share, and Trends 2024 to 2033

Laser Hair Removal Market (By Laser Type: Diode, Nd: YAG, Alexandrite; By End-use: Beauty Clinics, Dermatology Clinics, Home Use) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033

  • Last Updated : June 2024
  • Report Code : 4534
  • Category : Machinery and Equipment

Laser Hair Removal Market Size and Growth

The global laser hair removal market size was USD 1.12 billion in 2023, calculated at USD 1.33 billion in 2024 and is expected to reach around USD 6.28 billion by 2033, expanding at a CAGR of 18.82% from 2024 to 2033. The laser hair removal market is driven by the growing need for effective and long-lasting hair removal products.

Laser Hair Removal Market Size 2024 to 2033

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Laser Hair Removal Market Key Takeaways 

  • The North America laser hair removal market size accounted for USD 390 million in 2023 and is predicted to cross around USD 2,230 million by 2033, at a CAGR of 19.04% from 2024 to 2033.
  • North America led the market with the largest revenue share of 35% in 2023.
  • Asia- Pacific is expected to expand at the fastest CAGR of 18.83% during the forecast period. 
  • By laser type, the diode segment has contributed more than 40% of revenue share in 2023.
  • By laser type, the Nd: YAG segment is growing at a solid CAGR of 20.14% in the market during the forecast period. 
  • By end use, the beauty clinics segment has held a major revenue share of 56% in 2023.
  • By end use, the dermatology clinics segment is observed to be the fastest growing in the laser hair removal market during the forecast period.

U.S. Laser Hair Removal Market Size and Growth 2024 to 2033

The U.S. laser hair removal market size was valued at USD 310 million in 2023 and is expected to be worth around USD 1,170 million by 2033, at a CAGR of 19.16% from 2024 to 2033.

U.S. Laser Hair Removal Market Size 2024 to 2033

North America had dominated in the laser hair removal market in 2023. North American firms have created new and improved laser hair removal technologies, including diode, Nd, and Alexandrite lasers. These technologies provide better comfort, safety, and efficacy. Treatment times have decreased, and patient comfort has increased because of devices with sophisticated cooling systems, bigger spot sizes, and higher repetition rates.

Public and private sectors have funded awareness programs to educate consumers about the advantages and security of laser hair removal. Laser hair removal has become a popular and widely accepted hair removal alternative because of the influence of celebrities and the media.

Laser Hair Removal Market Share, By Region, 2023 (%)

Asia- Pacific is observed to be the fastest growing in the laser hair removal market during the forecast period. Many Asian-Pacific cultures place increasing emphasis on personal grooming and appearance. Skin-free hair is becoming increasingly desirable as Western beauty standards gain clout. Society is changing in its acceptance of aesthetic and cosmetic operations. Many people are willing to have these procedures as societal norms change.

The advantages of laser hair removal have been more widely known due to clinics' and device manufacturers' aggressive marketing tactics, social media influence, and the work of beauty influencers. More significant attempts to inform customers of the advantages of laser hair removal over more conventional techniques like shaving and waxing, including its safety, effectiveness, and long-term financial savings.

Market Overview 

Laser hair removal involves using a concentrated light beam, or laser, to remove hair from various body parts. It is one of the most common cosmetic procedures in the United States. The laser shines a bright, focused light into the hair follicles. The pigment in the follicles absorbs light, destroying the hair. In February 2024, Utilizing the Cynosure Elite iQ, widely regarded as the greatest medical-grade laser hair removal laser on the market, was the cornerstone of Adieu's services. All skin tones and treatable body parts can be safely treated with the Elite iQ in conjunction with the Skintel Melanin Reader, the first melanin reader on the market to get approval from Health Canada and the FDA.

Growth Factors

  • As opposed to more conventional techniques such as shaving or waxing, laser hair removal provides a more permanent solution to unwanted hair, which more and more people are looking for.
  • When disposable income rises, people are more likely to spend money on aesthetic procedures like laser hair removal. This drives the growth of the laser hair removal market.
  • Many find laser hair removal a more appealing alternative as safer and more effective laser technologies are developed. 
  • The typical trend is to maintain a certain aesthetic appearance. Laser hair removal provides a smoother, hair-free appearance, satisfying this goal. 
  • Although laser hair removal has historically been associated with women, men are also starting to use it, creating a new market niche.

Laser Hair Removal Market Scope

Report Coverage Details
Market Size by 2033 USD 6.28 Billion
Market Size in 2023 USD 1.12 Billion
Market Size in 2024 USD 1.33 Billion
Market Growth Rate from 2024 to 2033 CAGR of 18.82%
Largest Market North America
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered Laser Type, End-use and Regions
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa


Laser Hair Removal Market Dynamics

Drivers

Increasing demand for laser hair removal devices

Consumer behavior has been greatly impacted by the media's presentation of hairless skin as a standard of attractiveness, particularly among younger generations. Summertime is one season when hair removal services are in high demand because of the increased skin exposure from warm weather apparel and swimsuits.

More and more customers are realizing that, even if laser hair removal costs more upfront than other procedures, the long-term savings and long-lasting effects make it an affordable option. Growing disposable income makes laser hair removal procedures more accessible to more people, especially in poorer nations. This drives the growth of the laser hair removal market.

Increasing awareness regarding the safety offered by aesthetic lasers

Customers' trust in laser hair removal treatments rises as they learn more about the effectiveness and safety of aesthetic lasers. In the past, many people were afraid of laser hair removal because they worried about discomfort, adverse consequences, and possible skin damage. However, improvements in laser technology and the wider availability of information have allayed many of these worries. Educational initiatives, dermatologists' and other medical professionals' endorsements, and testimonies greatly increase consumer confidence.

Restraint

High cost of hair removal treatment

Advanced laser hair removal machines might save you tens of thousands of dollars. The high upfront cost is a hurdle for much smaller or more recent clinics providing this service. In addition to the overall operating costs, this equipment needs regular maintenance and periodic updates to guarantee optimal performance and compliance with safety regulations.

Many prospective clients compare the high price to the alleged advantages. The initial expensive outlay of laser hair removal can be a significant deterrent, even with long-term benefits like permanent hair reduction and simplicity. Even while temporary effects can be obtained in far less expensive ways, even if they require more time and are less effective over the term, customers might not see the benefit of investing a substantial quantity of money upfront. This limits the growth of the laser hair removal market.

Opportunities

Growing technological advancements in aesthetic lasers

With modern aesthetic lasers, hair follicles can be more precisely targeted without causing harm to the surrounding skin. Patients with darker skin tones, who were previously more likely to experience burns and pigmentation problems, should pay special attention to this. The modern high-power lasers shorten the duration of each session by delivering more energy in less time. Because of its effectiveness, laser hair removal is a more enticing option for busy people who desire quick treatments. Due to developments in telemedicine, patients can now receive consultations and follow-ups in a more accessible location. Due to this, people may be more likely to use laser hair removal procedures.

Growing number of FDA-approved products

A product's FDA approval certifies that it has undergone safety and efficacy testing. This is important because it guarantees that the laser hair removal equipment satisfies users' performance and safety requirements. Consumers are more likely to believe that a method is safe and effective when more FDA-approved devices are available, which raises the adoption rate. Manufacturers are frequently compelled to enhance the efficacy and technology of their products by the FDA approval procedure. 

Companies spend money on research and development to improve the functionality, safety features, and user experience of their products to meet FDA criteria. This ongoing innovation helps the market by introducing more useful, comfortable, and effective laser hair removal treatments. This factor acts as an opportunity for the expansion of the laser hair removal market.

Laser Type Insights 

The diode segment dominated in the laser hair removal market in 2023. Diode lasers can penetrate the skin more deeply since they usually function at a wavelength of 800-810 nm. Targeting the melanin in hair follicles at this wavelength will minimize harm to the surrounding skin. With fewer treatments and more effective hair reduction, diode lasers target individual hair follicles. The method kills and burns the follicle by ensuring that the pigment in the hair absorbs the laser light.

Diode lasers can achieve long-lasting hair reduction; many patients report noticeable reductions in hair that last for months or even years following a course of treatments. Compared to other laser types, the effectiveness of diode lasers frequently means fewer treatment sessions are required to achieve desired outcomes.

  • In March 2024, the introduction of a new diode laser bar by Coherent Corp., a well-known manufacturer of high-power diode lasers, is expected to improve the effectiveness of hair removal procedures. With just 100 A of input current, the 808 nm laser bar, which uses a two-junction configuration, can generate 200 W of output, doubling its efficiency over single-junction bars.

The Nd: YAG segment shows a significant growth in the laser hair removal market during the forecast period. Nd: The wavelength of 1064 nm used by YAG lasers enables deeper skin penetration. This wavelength is safer and more effective for people with darker skin tones because melanin absorbs it less. In addition to successfully targeting hair follicles, deep penetration yields longer-lasting effects by lowering the likelihood of hair regrowth. The laser hair removal market is growing due to the aesthetic and cosmetic industry's general expansion. In response to the increasing demand for hair removal treatments, numerous dermatological clinics, medical spas, and aesthetic centers are introducing Nd: YAG lasers into their service portfolio.

End-use insights 

The beauty clinics segment dominated in the laser hair removal market in 2023. Dermatologists and aestheticians are among the highly skilled and licensed specialists in laser hair removal frequently employed by beauty salons. Their proficiency guarantees the safe and efficient execution of the treatments, drawing in customers who value expert care. Beauty salons invest in cutting-edge laser hair removal machinery and keep up with emerging technological trends. This guarantees that they provide the least painful and most effective solutions, improving customer happiness and outcomes.

Laser Hair Removal Market Share, By End-use, 2023 (%)

The dermatology clinics segment is observed to be the fastest growing in the laser hair removal market during the forecast period. Men and women are increasingly seeking cosmetic operations due to the desire for smooth, hair-free skin and the pressures of society to meet beauty standards. Dermatology clinics frequently draw clients who value quality and safety over price and are prepared to pay extra for upscale services. This group focuses more on getting the most significant outcomes and is less concerned with cost.

Laser Hair Removal Companies

Laser Hair Removal Market Companies

  • Cynosure
  • Cutera
  • Candela Corporation
  • Viora
  • Venus Concept
  • Lumenis Be Ltd
  • Syneron Medical Ltd.
  • Alma Lasers
  • Solta Medical, Inc.

Recent Developments 

  • In May 2024, Nirvana, a laser hair removal tool that redefines efficacy, comfort, and efficiency, is now available from Reveal Lasers.
  • In November 2023, LUBEX evolved into a company that sells cosmetics and personal hygiene items. Providing intelligent beauty solutions at home is something we are enthusiastic about. We aim to invent new technologies to supply professional home beauty equipment better and promote treatment comparable to a salon.

Segments Covered in the Report

By Laser Type

  • Diode
  • Nd: YAG
  • Alexandrite

By End-use 

  • Beauty Clinics
  • Dermatology Clinics
  • Home Use

By Geography

  • North America 
  • Europe 
  • Asia Pacific 
  • Latin America 
  • Middle East and Africa 

Frequently Asked Questions

The global laser hair removal market size is expected to increase USD 6.28 billion by 2033 from USD 1.12 billion in 2023.

The global laser hair removal market will register growth rate of 18.82% between 2024 and 2033.

The major players operating in the laser hair removal market are Cynosure, Cutera, Candela Corporation, Viora, Venus Concept, Lumenis Be Ltd, Syneron Medical Ltd., Alma Lasers, Solta Medical, Inc., and Others.

The driving factors of the laser hair removal market are the increasing demand for laser hair removal devices and increasing awareness regarding the safety offered by aesthetic lasers.

North America region will lead the global laser hair removal market during the forecast period 2024 to 2033.

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