Impact of COVID-19 on Hair Removal Devices Market Analysis By Size, Growth, Share, Insights, Product (Energy-based Devices, Laser Devices (Diode Laser, Nd: YAG Laser, Alexandrite Laser), Intense Pulse Light (IPL) Devices, Others), By End-user (Beauty Clinics, Others) – Global Forecast Till 2023
Hair Removal Devices Market Overview:
The global Hair Removal Devices Market size is expected to take a leap from its previous valuation of USD 915.2 million in 2017 with 8.8% CAGR during the forecast period of 2018 to 2023. Market Research Future (MRFR) considers several factors like fashion, sports, cultural practices, military, medical reasons, and others as prominent growth-inducing avenues for the hair removal devices market.
The easy availability of these products through retail and e-commerce lines strongly denotes hair removal devices market trends and better awareness regarding the product can boost the market prospect.
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Hair Removal Devices Market Segmentation:
MRFR’s analysis of the global hair removal devices market leads to an in-depth segmentation of product and end-user. These segments have multiple inputs from various factors that help in gaining insights and developing better marketing strategies.
By products, the global hair removal devices market can be segmented into laser devices, intense pulse light (IPL) devices, energy-based devices, and others. The laser devices segment includes Nd: YAG laser, diode laser, and alexandrite laser. The laser devices segment had the maximum market share in 2017 and it is getting more traction from wider acceptance of the devices. The product is also performing better than other devices.
By end-users, the global report on the hair removal devices market comprises beauty clinics, home use, dermatology clinics, and others. The beauty clinics segment had the largest market share in 2017 owing to its huge women customer base.
Hair Removal Devices Market Regional Analysis:
The Americas is expected to make huge profit in the coming years in the hair removal devices market. This is primarily due to the high investment capacity, better disposable income standards, increasing launch of innovative products, and others. The US and Canada are performing better. In Europe, this growth would be backed by the growing sale in France, Germany, Italy, Spain, and the UK. In Asia Pacific, China, India, Japan, and South Korea are expected to boost the market traction.
Hair Removal Devices Market Competitive Landscape:
The global hair removal devices market growth can benefit substantially from various companies like Sciton, Inc, Alma Lasers, Ltd., Syneron Medical Ltd., Cutera Inc., Cynosure, Inc., Lynton Lasers Ltd, Solta Medical Inc., Strata Skin Sciences, Inc., Lumenis Ltd, Lutronic Corporation, and Venus Concept Canada Corp. These companies have done research works and have set their own growth policies to establish a strong outcome for themselves. The global market is slated to benefit from their mergers, acquisitions, collaborations, hike in research activities, better investment in research and development projects, and others are expected to steer the market towards innovations. MRFR recorded these recent moves to get their hands-on various prospects in the coming days.
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Aldi Australia announced that they would launch a new DIY or do-it-yourself hair removal gadget that promises salon-like experience. The product will be priced around USD90. It is supposed to hit the market in May. The company is trying to get hold of the market as the Australian government has banned all the beauty salons from functioning for the time being.
On the other hand, IPL hair removal devices are losing grounds due to the COVID-19 pandemic outbreak. This is due to the lack in intake of the product that is happening all around the world. With lockdowns in motion, getting hair removal done from clinics and salons are now out of question, which led to a financial crisis. This crisis is impacting the intake.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Hair Removal Devices Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3.Hair Removal Devices Market Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Hair Removal Devices Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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