Global Hair Removal Market is expected to grow at a significant CAGR in the upcoming years as the scope and its applications are increasing across the globe. The factors that propel the growth of the market include increasing demand, rapid urbanization & industrialization, and product development & technological innovations.
In addition, factors such as changing standard of living, rise in disposable income, increase in working population and increasing beauty consciousness among consumers significantly contribute to the market growth. On the other hand, there are also factors that may hamper the growth of the market such as high cost of permanent hair removal procedures.
Hair Removal Market is classified on the basis of product type, applications, distribution channel and geography. The market is segmented by product type as energy based devices, laser based devices, intense pulse light (IPL) devices and others. Hair Removal Industry is classified on applications as dermatology clinics, beauty clinics and others. Hair Removal Market is segmented by distribution channel as online stores, specialty stores and others.
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Hair Removal Market is classified on the basis of geography as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. The North American region consists of the U.S., and Canada. Latin America region consists of Mexico and Brazil. The Western European region consists of Germany, Italy, France, England and Spain. The Eastern European region consists of Poland and Russia. Asia Pacific region consists of China, India, ASEAN, Australia & New Zealand. The Middle East and African region consists of GCC, South Africa and North Africa.
In case of geographical region, North America is projected to account a dominant share in the the market. The key factors that attribute to the growth of this region include technological innovations, high spending power, and significantly great concern of consumers towards personal grooming. Whereas, Asia Pacific is expected to display fast growth rates in the Hair Removal Industry. Factors such as increasing population, growing awareness among people, changing standard of living, etc. fuel the market growth.
Some of the key players that fuel the growth of the Hair Removal Market include Alma Lasers Ltd., Cynosure Inc., Cutera Inc., Fotona d.d., Lynton Lasers Ltd., Lumenis Ltd., Lutronic Corp., Strata Skin Sciences Inc., Sciton Inc., Solta Medical Inc., Syneron Medical Ltd., Venus Concept Canada Corp., and others. The key players are focusing on inorganic growth to sustain themselves amidst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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