Global Hair Removal Devices Market

Global Hair Removal Devices Market,
by
Product
Type
(Energy-Based
Devices, Laser-Based Devices, and
Intense Pulse Light (IPL) Devices), by
End User (Dermatology Clinics and
Beauty Clinics) and by Geography Trends and Forecast to 2025
Businesses catering the equipment requirement of the commercial beauty clinics and
dermatology clinics for hair removal devices and treatments have gained significant
popularity in the recent past, owing to increasing beauty consciousness among consumers
globally. These being non-surgical and non-invasive procedures, has led to increased
consumer preferences. Moreover, these are widely used in dermatology and beauty clinics.
This is expected to be among the major growth drivers for the market over the forecast
period.Alternative methods that include waxing, manual trimming, and using razors are
relatively painful and lead to skin abrasions or irritation. Moreover, outcome of these
methods are for a shorter period of time and require repetition after few days or weeks.
However, utilization of these hair removal devices helps individuals’ treated area, hair-free
for months or years, reducing the requirement for repetitive treatments after the complete
procedure. This is among the major benefits that has in turn, led to growth of the market
over the forecast period.
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Figure 1. Global Hair Removal Devices Market, Key Impact Forces
SOURCE: COHERENT MARKET INSIGHTS (2018)
Compact devices and products offering multi-services for the cost of one system is
among the prominent factors influencing the hair removal devices market growth
Next generation devices are compact, in order to reduce the footprint in the beauty and
dermatologist facilities. Significant advantage of utilization of these machines is proving an
array of aesthetic services that include skin treatment, anti-ageing skin rejuvenation
treatment along with hair removal, for different body surfaces with a single machine. For
instance, The Global Beauty Group offers products with five in one and 9 in 1 Intense Pulse
Light (IPL) machines offering these aforementioned features. Company’s product under
UltraLUX V4 IPL aids in pigmentation treatment, acne management, ultrasound body
contouring, vascular therapy, and RF skin tightening. In conjunction with these factors, long
durability, robustness, and high ROI, owing to multi-service offerings of these machines is
expected to be factors for growth of the global hair removal devices market over the forecast
period.
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Increasing number of metrosexual men is a prominent factor fueling growth of this market.
According to Uni K Wax—a unisex waxing studio—over 20% of clients were male, of which
19% had bikini services and 48% opting for back and shoulder services. Moreover, men
participating in sport activities that include professional bodybuilding, wrestling, cycling,
swimming, and athletics are also more inclined towards these treatments, and this is
expected to drive the global hair removal devices market growth.
Drawbacks of these systems include providing non-uniform application results depending on
the skin and hair textures of the individual. For instance, laser treatments are highly effective
for hair colors that include black and different shades of brown. However, the treatment is
less effective and requires longer times for blonde and red, with minimum effectiveness on
colors that include white and grey. Moreover, high initial system costs and high penetration
of alternative procedures that include trimmers, waxes, shaving, and threading are projected
to be the major factors that hampering the hair removal devices market growth over the
forecast period.
North America was the dominant region in the global hair removal devices market, and is
expected to continue its dominance over the forecast period. This is primarily owing to high
inclination of the consumers towards hairless body fashion trends. According to Coherent
Market Insights Analysis, U.S. manscaping industry was pegged at over US$ 4 billion in
2015 in which hair removal services and products contributed around US$ 1 billion sales.
Some of the key players in the global hair removal devices market include Alma Lasers Ltd.,
Cutera Inc., Cynosu​re Inc., Fotona d.d., Lumenis Ltd., Lutronic Corp., Lynton Lasers Ltd.,
Sciton Inc., Solta Medical Inc., Syneron Medical Ltd., Strata Skin Sciences Inc., and Venus
Concept Canada Corp.
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men participating in sport activities that include professional bodybuilding, wrestling, cycling, swimming, and athletics are also more inclined towards these treatments, and this is expected to drive the global hair removal devices market growth