Market Synopsis:
Marker Research Future (MRFR) has studied the Global Hair Removal Devices Market and revealed that it was valued at USD 915.2 Mn in 2017 and is expected to expand at 8.80% over the assessment period (2018 to 2023).
Medical aesthetics industry is witnessing high demand and is poised to undergo technological transformations. The rising influence of social media and entertainment industries are projected to drive the expansion of the market in the years to come. In addition, the availability of devices for home use is another major factor projected to contribute towards the development of the hair removal devices market across the forecast period. Technological advancements for making the devices convenient to use is likely to boost the proliferation of the market.
The increasing working women population is expected to favor the expansion of the market as they form a major fraction of the customers. In addition, the increasing use of hair removal devices among men is also anticipated to act as a growth catalyst for the market players. The competitive landscape of the hair removal devices market represents healthy competition. The investments in product portfolio development are poised to attract a larger consumer base in the foreseeable future.
Increasing disposable income is a primary factor driving the proliferation of the hair removal devices market. In addition, the influence of urbanization is forecasted to propel market growth in the nearby future. On the contrary, high cost of devices is projected to check the expansion of the hair removal devices market during the review period.
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Competitive Dashboard:
The prominent players participating in the share analysis of the Global Hair Removal Devices Market are Alma Lasers, Ltd., Cynosure, Inc., Cutera Inc., Lumenis Ltd, Lutronic Corporation, Lynton Lasers Ltd, Solta Medical Inc, Strata Skin Sciences, Inc., Syneron Medical Ltd., Sciton, Inc., Venus Concept Canada Corp
Market Segmentation:
On the basis of product, the Global Hair Removal Devices Market has been segmented into laser devices, intense pulse light (IPL) devices, energy-based devices, and others. The laser devices segment is further sub-segmented into diode laser, Nd: YAG laser, and alexandrite laser. Among these, the laser devices segment is projected to gain the most popularity in the upcoming years. It is anticipated to hold the largest share of the market through the assessment period.
On the basis of end-user, the hair removal devices market has been segmented into dermatology clinics, home use, beauty clinics, and others. The beauty clinics segment is anticipated to exhibit a steeper rise in the growth curve as it is highly preferred by the women customers.
Regional Analysis:
By region, the Global Hair Removal Devices Market has been segmented into four regions – Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas is projected to dominate the growth pace of the global market in the nearby future. The region is likely to benefit from the presence of advanced healthcare infrastructure. In addition, rising demand for laser hair removal treatments is projected to catapult the hair removal devices market in the region on an upward trajectory. Asia Pacific is forecasted to exhibit rapid growth owing to the increasing availability of cost-effective hair removal devices.
Industry News:
In October 2018
Lumenis Ltd., the largest energy-based medical device company, has announced the launch and availability of SPLENDOR X, laser system equipped with BLEND X technology for fast hair removal.
In August 2018
the Finishing Touch Company has announced the launch of Flawless Brows, the first brow maintenance tool.
In July 2018
InMode Ltd., a manufacturer of medical-aesthetic technology, has announced the launch of Triton, the first and only high-power laser hair removal device.
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