The global “Laser Hair Removal Market” is projected to reach USD 1,378.4 million by 2027, exhibiting a CAGR of 15.2% during the forecast period. Wide availability of advanced hair removal technologies will be one of the top growth drivers for this market, states Fortune Business Insights™ in its report, titled “Laser Hair Removal Market Size, Share & COVID-19 Impact Analysis, By Product (Diode, Alexandrite, Nd: YAG, and Others), By End User (Hospitals, Medical Spas & Specialty Clinics, and Others), and Regional Forecast, 2020-2027”.
Laser hair removal treatments are gaining popularity owing to their proven efficacy in preventing hair growth. To capture this trend, many companies have developed a portfolio of novel hair removal systems based on laser technology. For instance, Nordlys, a hair removal machine by Ellipse uses both laser (Frax 1550 and Nd: YAG 1064) and Selective Waveband Technology to perform hair removal procedures. Similarly, the Thunder MT system from Advanced Esthetics Solutions integrates Nd: YAG and Alexandrite lasers, enabling the machine to perform a wide range of hair treatments. Thus, rising availability of such innovative hair technologies will brighten the prospects for this.
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Cynosure Announces Launch of Elite iQ to Brighten its Market Prospects
In June 2020, Cynosure introduced its advanced Elite iQ platform, the next generation of the Elite Aesthetic Workstation across Australia, Europe, and the US. The company reports that the platform offers customized hair removal treatment solutions by leveraging the aesthetic sector’s live melanin reader called Skintel. The reader further ensures efficient removal of unwanted hair permanently and is suitable for all skin types. Moreover, it enables practitioners to provide personalized treatments for people with contrasting skin color globally. This is expected to boost the adoption of advanced laser hair removal solutions.
High Precision Functioning of Product to Promote Growth
Laser hair removal efficiently functions by heating hair follicles to prevent growth of new hairs. The idea is to put hair follicles for a prolonged period into dormancy that may not be completely achieved by waxing and shaving. The biggest advantage of the laser type of treatments is their high precision as these lasers target and remove coarse and dark hair regions.
The hair removal through lasers is a rapid-paced process. For instance, each laser pulse is able to treat multiple hairs in a single stroke. Moreover, smaller areas such as underneath the nose can be treated in less time. However, this procedure does not remove unwanted hairs permanently, but only reduces their density in a certain area. Therefore, the precise functioning of this procedure is expected to contribute to the global laser hair removal market growth during the forecast period.
Major Laser Hair Removal Market Key players covered in the report include:
- CANDELA CORPORATION (Massachusetts, U.S)
- Lynton Lasers Ltd (U.K.)
- Alma Lasers (Israel)
- Fotona (Texas, U.S)
- Venus Concept (Toronto, Canada)
- Venn Healthcare (U.K.)
- Sciton, Inc. (California, U.S)
- Lumenis Ltd. (Israel)
- Cynosure (Massachusetts, U.S)
- Cutera (California, U.S)
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