At 12.4% CAGR, the North America Laser Hair Removal Market is projected to be worth US$ 595.36 million by 2030, says Business Market Insights
According to Business Market Insights research, the North America laser hair removal market was valued at US$ 233.31 million in 2022 and is expected to reach US$ 595.36 million by 2030, registering a CAGR of 12.4% from 2022 to 2030. Increasing number of hair removal procedures and advancements in laser hair removal products are among the critical factors attributed to the North America laser hair removal market expansion.
Manufacturers in the laser hair removal market are increasingly focusing on the advancement of products to maintain the competitive environment in the market.
In October 2022, Sensus Healthcare, Inc. introduced the portable Silk by Sensus hair removal system at the Fall Clinical Dermatology Conference. Silk by Sensus includes a portable diode laser with 2000W power, a lightweight handpiece, high repetition rates, and a super-cold cooling tip. The system blends wavelengths while emitting light vertically toward the skin. Its ability to sustain the density of the laser in a selected area results in deeper and better penetration along with more homogeneous energy distribution, ultimately resulting in greater efficiency.
In June 2020, Cynosure launched the Elite iQ platform, which is the next generation of the Elite+ Aesthetic Workstation. Elite iQ platform is designed to offer customized laser hair removal treatments based on a skin type and permanently reduce unwanted hair present anywhere on the body, including the face, chest, back, arms, bikini area, underarms, and legs. Such strategic initiatives are trends for the market players to attain a significant position in the laser hair removal market.
On the contrary, side effects of laser hair removal procedures hamper the North America laser hair removal market.
Based on laser type, the North America laser hair removal market is segmented into alexanderite laser, diode laser, Nd: YAG laser, and others. The diode laser segment held 45.2% share of North America laser hair removal market in 2022, amassing US$ 105.36 million. It is projected to garner US$ 291.51 million by 2030 to expand at 13.6% CAGR during 2022-2030.
Based on product type, the North America laser hair removal market is bifurcated into multiple standard wavelength and specific standard wavelength. The multiple standard wavelength segment held 61.5% share of North America laser hair removal market in 2022, amassing US$ 143.39 million. It is projected to garner US$ 376.44 million by 2030 to expand at 12.8% CAGR during 2022-2030.
Based on end user, the North America laser hair removal market is segmented into beauty clinics, dermatology clinics, hospitals, and home use. The beauty clinics segment held 45.2% share of North America laser hair removal market in 2022, amassing US$ 105.36 million. It is projected to garner US$ 290.19 million by 2030 to expand at 13.5% CAGR during 2022-2030.
Based on country, the North America laser hair removal market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 87.3% share of North America laser hair removal market in 2022. It was assessed at US$ 203.56 million in 2022 and is likely to hit US$ 529.10 million by 2030, exhibiting a CAGR of 12.7% during 2022-2030.
Key players operating in the North America laser hair removal market are Alma Lasers Ltd, Candela Corp, Citation Spectrum LLC, Cutera Inc, Cynosure LLC, Lumenis Be Ltd, Lutronic Co Ltd, Sciton Inc, Sinclair Pharma Ltd, and Vertex Lasers Inc, among others.
In February 2022, Sinclair Pharma Ltd announced a complete acquisition of Viora to expand its product portfolio. The acquisition has helped to gain a direct commercial base in the US.
Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com
