Top 8 Companies in the Laser Hair Removal Market

The global laser hair removal market was valued at USD 1,237.33 million in 2023, driven by the rising demand and awareness for aesthetic services across the globe. The market is expected to grow at a CAGR of 16.4% during the forecast period of 2024-2032, with the values likely to attain USD 4,853.59 million by 2032.

The laser hair removal process is a cosmetic procedure in which hair removal takes place with the help of concentrated beams of light (laser). The laser light destroys hair follicles, inhibiting the hair from growing back, thereby reducing hair growth in the treated area. The process of hair removal is considered comparatively effective and long-lasting in comparison to other methods such as waxing, shaving, and threading. However, laser hair removal is an expensive process when compared to other methods, but the long-lasting effects and results turn that amount into an investment.

The laser hair removal market is gaining traction as people especially women are getting more aware of aesthetic hair removal procedures and their long-term benefits. With increasing awareness, the demand for these procedures is escalating. The professionals providing laser hair removal services are expanding their customer base by opening new facilities in multiple locations addressing the rising demand.

The market is collectively experiencing technological advancements enabling a more personalised and precise hair removal treatment experience. The introduction of sophisticated technologies like Alexandrite, Nd, and Diode lasers is enhancing the patient experience as they address concerns for different skin types and hair colours, improving both efficacy and safety and propelling market demand. Laser hair removal facilities are introducing advanced technologies to reduce pain during the process. This includes integrating advanced cooling systems and topical anesthetics to enhance patient comfort. The integration of AI technologies and robotic assistance to elevate accuracy, precision, and safety during the hair removal process is further boosting the popularity of the process in the market.

The growing trend toward personalised treatment is bringing innovations by the market players while addressing the specific needs of the consumers. For instance, in March 2024, Reveal Lasers LLC, a leading distributor of innovation in aesthetic technology launched the AlloraPro Laser Workstation, a state-of-the-art device designed for permanent hair reduction and skin rejuvenation treatments. The AlloraPro Laser Workstation delivers fast and permanent hair reduction by combining the power of 755nm Alexandrite and 1064nm Nd:YAG wavelengths. The device is also equipped to target vascular lesions such as leg veins and facial veins, as well as pigmented lesions and photorejuvenation and it comes with six ergonomic handpieces, including a 30mm spot size for fast treatments. The AlloraPro is a versatile device capable of effectively treating all skin types.

Additionally, in April 2024, Wingderm, a medical aesthetic device service provider that offers comprehensive aesthetic solutions launched Lasermach2 highlighting another revolutionising breakthrough in the medical aesthetics industry. Lasermach 2 is a more efficient, comfortable, and intelligent solution for hair removal featuring 808nm and a combination of 755nm, 808nm, and 1064nm wavelengths, providing laser hair removal treatments for I-VI skin tones and almost all hair types. The system is also equipped with Wingcloud® which assists the clinic owners in customer management and improves customer service.

Top Companies Leading the Laser Hair Removal Market in 2024

1. Cutera

Cutera Inc. offers advanced laser technology for hair removal, focusing on versatile and customisable solutions. The company portfolio includes the Xeo and Enlighten systems, known for their effectiveness and comfort.

2. Lumenis Limited

Lumenis Limited provides innovative laser technologies for hair removal, focusing on multi-platform systems such as the LightSheer and M22. Their devices are renowned for delivering safe, effective results with minimal discomfort, catering to diverse skin types and hair colours.

3. Koninklijke Philips N.V.

Koninklijke Philips N.V. delivers cutting-edge laser hair removal solutions through its Philips Lumea series. These devices utilise advanced light-based technology for long-lasting hair reduction, emphasizing ease of use and clinical effectiveness for at-home treatments.

4. Venus Concept

Venus Concept Inc. offers a diverse portfolio of aesthetic devices, including the Venus Versa and Venus Legacy systems. Their laser hair removal technologies are designed to deliver consistent results with enhanced patient comfort, utilising advanced radiofrequency and laser technologies.

5. Alma Lasers (Sisram Medical)

Alma Lasers (Sisram Medical) is known for its innovative hair removal solutions, featuring systems like the Soprano ICE. Their devices integrate advanced technologies for effective hair reduction across all skin types, emphasizing pain reduction and optimal results.

6. Cynosure Inc.

Cynosure Inc. provides a range of laser hair removal systems, including the Elite iQ and PicoSure. Their technologies are recognised for their precision and efficiency, using various wavelengths to target different hair types and ensure effective, comfortable treatments.

7. Lutronic Corp.

Lutronic Corp. offers state-of-the-art laser hair removal systems such as the Clarity II. Their devices are designed to provide quick and effective treatments with minimal downtime, featuring advanced technology for comprehensive hair removal across various skin tones.

8. Fotona

Fotona delivers high-performance laser hair removal solutions with their StarWalker and SmoothEye systems. Their technologies are acclaimed for their precision and efficacy, utilising advanced laser wavelengths to ensure effective hair removal with minimal discomfort.