At 11.0% CAGR, the South & Central America Laser Hair Removal Market is projected to be worth US$ 83.74 million by 2030, says Business Market Insights
According to Business Market Insights research, the South & Central America laser hair removal market was valued at US$ 36.46 million in 2022 and is expected to reach US$ 83.74 million by 2030, registering a CAGR of 11.0% from 2022 to 2030. Increasing number of hair removal procedures and combination of different modalities are among the critical factors attributed to the South & Central America laser hair removal market expansion.
Many lasers and intense pulsed light (IPL) modalities have been introduced to treat multiple skin types and concerns. The combination of these modalities has emerged as one of the most recent and notable innovations in the laser hair removal market. The Duetto MT Evo from Lynton Lasers combines and delivers simultaneous emission of both a true Alexandrite 755 nm laser and Nd: YAG 1064 nm laser, which are individually considered as the gold standard lasers for hair removal on skin types 1-6. This combination renders this particular model exceptionally good at treating fine and fair hair, especially on the face.
The Quanta Systems Thunder MT system by Advanced Esthetics Solutions blends Alexandrite and Nd: YAG, delivering outstanding results in a wide range of treatments. The system uses both these wavelengths in simultaneous, sequential and singular modes, depending on the treatment and customers' needs. Further, Optiscan TH head incorporated in Thunder TH allows for semiautomatic treatment of wide scanning areas, reducing the treatment time and making it more effective. Thunder is suitable for hair removal applications for all skin types. It is also used to treat vascular lesions, skin rejuvenation, pigmentation, and onychomycosis, among other issues. Thus, the introduction of laser hair removal devices with combined modalities boosts the overall laser hair removal market growth.
On the contrary, side effects of laser hair removal procedures hamper the South & Central America laser hair removal market.
Based on laser type, the South & Central America laser hair removal market is segmented into alexanderite laser, diode laser, Nd: YAG laser, and others. The diode laser segment held 45.4% share of South & Central America laser hair removal market in 2022, amassing US$ 16.55 million. It is projected to garner US$ 40.80 million by 2030 to expand at 11.9% CAGR during 2022-2030.
Based on product type, the South & Central America laser hair removal market is bifurcated into multiple standard wavelength and specific standard wavelength. The multiple standard wavelength segment held 61.8% share of South & Central America laser hair removal market in 2022, amassing US$ 22.52 million. It is projected to garner US$ 53.24 million by 2030 to expand at 11.4% CAGR during 2022-2030.
Based on end user, the South & Central 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 South & Central America laser hair removal market in 2022, amassing US$ 16.48 million. It is projected to garner US$ 40.55 million by 2030 to expand at 11.9% CAGR during 2022-2030.
Based on country, the South & Central America laser hair removal market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 43.7% share of South & Central America laser hair removal market in 2022. It was assessed at US$ 15.92 million in 2022 and is likely to hit US$ 38.23 million by 2030, exhibiting a CAGR of 11.6% during 2022-2030.
Key players operating in the South & Central America laser hair removal market are Alma Lasers Ltd, Candela Corp, Lutronic Co Ltd, and Sinclair Pharma Ltd, among others.
In January 2021, Candela Corporation collaborated with Merz Aesthetics to offer a comprehensive range of medical aesthetics products, which is among the most extensive in the world. The collaboration commenced in North America and gradually expanded to other regions. It brought together the expertise of a renowned esthetics business and a leading esthetic device company. The collaboration will also provide customers with convenient customer service and training.
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