Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global hair removal devices market was valued at US$ 815.0 million in 2016 and is expected to accumulate more than US$ 1,730.6 million over the forecast period, exhibiting a massive CAGR of 8.9%.
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Hair removal devices are equipment that aid in hair removal in commercial spaces, primarily including beauty and dermatologist clinics. High inclination of consumers towards non-invasive and non-surgical procedures for personal grooming is among the most prominent factors encouraging the adoption of hair removal devices across the world.
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Key Trends the Global Hair Removal Devices Market:
- Among product types, the laser-based systems emerged as the leading segment in the global hair removal devices market in 2016. Commercial introduction of novel technologies, extensive product portfolio, and the presence of compact models with small footprints are significant factors influencing the growth of this segment. Relatively higher efficiency and longer impact of these technologies on stunting the growth of body hair is another key factor positively affecting the growth of this segment.
- Among end users, the beauty clinics segment accounted for the largest market share in 2016, and is expected to remain dominant over the forecast period. For instance, Anoo’s Salon & Clinic (India), Mayo Clinic (South Africa), Global Health & Beauty Clinic (U.K.), and Kaya (India) are among some of the popular brand names.
- However, lack of expertise in handling these systems and fear of side effects has led to inclination of consumers towards getting treatment from clinically approved dermatologists.
- The North America hair removal devices market accounted for the largest share in the global market and is expected to witness highest growth in the near future, due to the high consumer inclination towards these treatments to stay in line with the regional fashion trends. Consumers are focusing on removing excess of unwanted hair in both genders that includes the face, leg, arm, underarm, and bikini line by using these treatments.
- Professional footballers, road cyclists, and athletes are widely known to be more susceptible to crashes or injuries. Moreover, professional athletes and aforementioned sports personnel are more inclined towards these treatments. These trends are therefore expected to offer innumerable growth prospects to the global hair removal devices market in the forthcoming years.
- The leading players trading in the global hair removal devices market include Alma Lasers Ltd., Cutera Inc., Cynosure Inc., Fotona d.d., Lumenis Ltd., Lutronic Corp., Lynton Lasers Ltd., Sciton Inc., Solta Medical Inc., Strata Skin Sciences Inc., Syneron Medical Ltd., and Venus Concept Canada Corp.
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