It is expected that the global market for devices for hair removal will reach 3.4 billion U.S. dollars by 2025, according to this new report from research firm Grand View Research.
The average annual growth rate of this market will amount to 1.4%. Analysts say that the main reason for the increased growth is a growing “awareness of beauty”, especially among women. Men also follow this trend due to the growth of awareness about the grooming – men’s body care procedures.
The report notes that there is a high demand for noninvasive methods of hair removal, including laser treatment in-home. The availability of technologically advanced products has also played an important role in positive influence on market growth. New laser devices emit light with a longer wavelength, allowing them to focus only on the melanin present in the hair follicles. This eliminates the risk of skin burns. It is expected that these factors will drive the market growth devices for hair removal in the coming years.
Here are a few highlights outlined in the report.
• Laser devices held the largest market share of devices for hair removal in 2017, thanks to their advantages, such as painless treatment and fast hair removal.
• Diode lasers are a profitable segment, as these devices provide fast hair removal with minimal side effects.
• IPL (high intensity light) also took a big share of the market, because these devices are more affordable than other devices.
• It is expected that over the forecast period, the segment home use will show impressive growth due to the easy access to these devices through retail and online distribution channels.
• North America held the largest market share, due to well-developed health infrastructure and increase the number of treatments to reduce hair in the United States.
• It is expected that the Asia-Pacific region will experience the largest growth over the Outlook period due to increased awareness about the newest equipment and the availability of affordable laser hair removal device in China.
• Some of the key players of the market include Cynosure Inc .; Solta Medical, Inc.; Lumenis; Alma Lasers; Syneron Medical Ltd; Venus Concept Canada Corp. and Cutera.