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Growing Physical Grooming Consciousness among people has led to the growth of the hair removal devices market.
HYDERABAD, TELANGANA, INDIA, January 18, 2023 /EINPresswire.com/ — The global Hair Removal Devices Market is estimated to grow at a CAGR of 8.81% during the forecast period 2020–2025. The market is projected to grow from $1,080.4m in 2019 to $1,791.3m by 2025. Hair removal is a process through which hair from an individual’s body is removed with intent. To get over the issue of the growth of unwanted hair, there are plenty of hair removal devices available in the market today like laser beam light, which beams highly concentrated light into hair follicles. Hair colour and skin type influence the laser hair removal process. Pigment in the follicles absorbs the light which destroys the hair. Methods involved in the removal of hair includes waxing, sugaring, epilation devices, lasers, threading and others. People’s physical consciousness about non-surgical procedures gained interest in this market.
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Key Takeaways
1. The expansion of cost-effective hair removal devices which are applicable for individual use with all types of skin tones is predictable to play a great role in the market.
2. The increase in the new advancements in the techniques of hair removal in the clinics gained growing popularity among the people and has led to the growth of the hair removal devices market.
3. Hair removal products are gaining significant popularity among men, which in turn, is set to drive the global market in the next few years.
4. Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025.
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Segment Analysis
1. Laser Based Devices segment dominated the hair removal devices market in terms of revenue. It is the most commonly used type of Hair Removal device. It works with the help of high-heat lasers or intense pulsed lights (IPLs) that dissolve hair and temporarily disable hair follicles so that it won’t be able to produce new hairs for up to several weeks. It beams highly concentrated light into hair follicles which helps in removing the hairs from the body. This treatment is less painful and helps in the nourishment of the skin.
2. The Facial Hair Removal segment dominated the hair removal devices market in terms of revenue. It is forecast to grow at a CAGR of 7.66% during the period under consideration. It is generally used owing to its reshaping nature to a face by facial dressers. It includes types like upper lips, forehead, eyebrows and others. The device is used in salons by cosmetologists which have led to the growth of the market.
3. The Beauty Clinic segment dominated the hair removal devices market in terms of revenue. It provides every type of technology which is commonly used by the customers like facial hair removal, wax, laser treatments and others which conclude to the growth of the market. .
4. North America region held 27.8% of the hair removal devices market in terms of revenue. New technologies for hair removal procedures in this region are anticipated to aid the growth of the hair removal devices market. These factors contribute to the increased preference of consumers towards physical grooming and the availability of advanced products.
Competitive Landscape:
The top 5 players in the Hair Removal Devices Industry are –
1. Philips
2. Cynosure Inc.
3. LUMENIS
4. Venus Concept Canada Corp
5. Syneron Medical Ltd
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