Laser Hair Removal Market Size to Hit USD 1,619.7 Million by 2028 | Laser Hair Removal Industry Size, Share, In-Depth...
Pune, India, Nov. 25, 2021 (GLOBE NEWSWIRE) -- The global laser hair removal market size is expected to experience exponential growth by reaching USD 1,619.7 million by 2028 while exhibiting a stellar CAGR of 16.7% between 2021 and 2028. This information is published by Fortune Business Insights in its report, titled Laser Hair Removal Market, 2021-2028. The report further mentions that the market stood at USD 483.0 million in 2020. Laser hair removal treatments are gaining traction due to their high efficacy in preventing hair growth. Several companies are focusing on developing a portfolio of advanced hair removal products based on laser technology.
For instance, Ellipse adopts selective waveband technology and laser in its hair removal machine Nordlys. The machine performs several hair removal procedures with optimum efficiency. Thus, the increasing development of innovative hair technologies is expected to boost the demand for the product in the forthcoming years.
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COVID-19 Impact: Market Exhibited 12.4% Decline in Growth Rate in 2020
The shutdown of stores and the postponement of skin care appointments have disrupted the economic functioning of the market. This has led the market exhibiting a negative growth rate of 12.4% in 2020. However, phased out starting up of stores by abiding to the social distancing norms is expected to favor the growth of the market in the forthcoming years.
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