Global Hair Removal Devices Market: Overview
Shaving is one of the methods to remove unwanted hairs from the body. However, the hair grows back and shaving them regularly makes them and hard. To get over with the issue of the growth of unwanted hair, there are plenty of hair removal devices available market today. Also, the growing popularity of dermatology and beauty clinics has jumped to the next level recently. Hence, the demand for hair removal devices and treatment has also got to another level of growth. As a result of growing physical consciousness among consumers has consolidated people’s interest in non-surgical and non-invasive hair removal procedures. Also, the demand for alternative methods such as manual hair trimming, waxing, etc. has grown. All of these factors are helping the global hair removal devices market to grow in the forecast period of 2018 to 2026.
The report by Transparency Market Research explains the progressive dynamics of the global hair removal devices market. The report offers a detailed analysis of the various facets of the global hair removal devices market.
Global Hair Removal Devices Market: Notable Developments
Prominent players of the global hair removal devices market are heavily investing R&D for various innovations in order to stay ahead in the game. The businesses can capture the best long-term opportunities for growth in the market by ensuring process improvements and financial flexibility to invest in optimal business strategies.
Businesses such as Syneron Beauty Me, Tria Beauty, Veet, Viss, CosBeauty, ULIKE, Elos Me, Iskin, SmoothSkin, Iluminage, Silk’n, MLAY, LumaRx, Gillette, Philips Lumea, and SilkPro are some of the major players of global hair removal devices market. These businesses tend to dominate the market in the forthcoming years.
These players are also putting huge efforts into improving the quality of their products to retain the existing customers by reducing customer churn. Business is also focusing more on providing a customized shopping experience to the customers by understanding their needs and deducing offers and schemes to ensure their loyalty.
Global Hair Removal Devices Market: Key Drivers and Restraints
Rising demand for availing a body without any hairs among the young generation is the prime growth factor for global hair removal devices market. The growth is also aggressively influenced by the rising demand for hair removal products and services as a result of growing beauty consciousness amongst women.
The growth of global hair removal devices market is also influenced by the rising application of intense pulsed light or IPL devices. The rising demand for these devices has hiked owing to the precision and efficiency they offer to the consumers in removing the hair. Also, the raised disposable income of the people has an impact on the growth of global hair removal devices market.
Along with so many factors to promote the growth of global hair removal devices market, factors such as high cost of permanent hair removal procedures can hamper the growth of the market up to some extent. Nevertheless, the growing demand for hair removal devices such as razors, epilators, IPLs, and wax strips shall help the global hair removal market to maintain its growth throughout the forecast period.
Global Hair Removal Devices Market: Regional Dominance
In the forecast tenure, North America shall emerge as the leading region of the global hair removal devices market. The growth is the result of the availability of technologically advanced products in the regions. Also, high awareness of self-grooming in the region promotes the growth of global hair removal devices market in the company. Another factor that keeps North America at the top of all the regions in the market is the increasing usage of hair removal devices in the U.S. so as to have rapid and effective results.
The Asia Pacific to follow North America in terms of growth of global hair removal devices market. This is due to the rising disposable income and demand for cost-effective hair removal devices in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.