The global hair removal market is likely to surpass US$ 1.35 Bn in revenues by 2022, according to a new research report added to the vast database of Market Research Reports Search Engine (MRRSE). The report is titled, “Hair Removal Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022” and offers a detailed overview on the factors that are likely to boost the demand for hair removal products and services during the forecast period.
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According to the report, growing awareness on personal hygiene has emerged as one of the key factors that has led to higher spending on hair removal products and procedures. Increasing disposable income, another macroeconomic trend, is also contributing to adoption of hair removal products. Mushrooming of salons and other beauty clinics has also led to the rise in the number of consumers undergoing these procedures.
Some of the key products used in hair removal procedures include laser based devices, intense pulse light, and energy based devices. Currently, demand for intense pulse light devices is higher than other variants. Intense pulse light devices offer long-lasting hair removal solutions, on account of which their demand is surging all around. According to the report, demand for intense pulp light devices is likely to grow at nearly 9% CAGR during the assessment period.
Beauty clinics and dermatology clinics remain the key end users of hair removal products. Currently, demand for hair removal products and services is higher in beauty clinics vis-à-vis dermatology clinics, and the trend is likely to continue during the forecast period as well.
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North America remains one of the leading markets for hair removal products and services during the assessment period. The market in North America is dominated by the US, where aggressive marketing strategies by beauty clinics and dermatology clinics are fuelling the demand for hair removal products and services. Further, high awareness among US and Canadian consumers about the various hair removal techniques available in the market is leading to surging sales for these products in the region. On back of these factors, the global hair removal market is likely to grow at a CAGR of 9.5% during the forecast period. Europe, the second largest market globally, is likely to expand at a CAGR of 8.3%.
The report also provides an analysis of the leading companies operating in the global hair removal market. Some of the leading companies profiled in the report include Solta Medical Inc., Strata Skin Sciences Inc., Fotona d.d., Syneron Medical Ltd., Lynton Lasers Ltd., Cynosure Inc., Sciton Inc., Alma Lasers Ltd., Venus Concept Canada Corp., Lumenis Ltd., Lutronic Corp., and Cutera Inc.
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