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The SNS Insider report estimates the Laser Hair Removal Market size at USD 1.23 billion in 2023, with a projected CAGR of 17.81% to reach USD 5.02 billion by 2032.
The Viral Vectors and Plasmid DNA Manufacturing Market, valued at approximately USD 4.4 billion in 2022, is expected to witness substantial growth, reaching USD 19.4 billion by 2030, reflecting a robust compound annual growth rate (CAGR) of 20.4% over the forecast period from 2023 to 2030. This market expansion is primarily driven by the increasing applications of viral vectors and plasmid DNA in gene therapy, vaccine development, and genetic research.
Gene therapy, in particular, holds immense promise for treating a wide range of genetic disorders, driving significant investment in advanced manufacturing technologies to meet rising demand. Moreover, the global focus on developing vaccines for emerging infectious diseases, coupled with the need for scalable production methods, is further boosting market growth.
Regionally, North America dominates the market, owing to the presence of key biotechnology hubs, supportive regulatory frameworks, and substantial funding for research and development initiatives. However, Asia-Pacific is poised to emerge as a lucrative market during the forecast period, fueled by increasing healthcare investments, growing awareness about genetic disorders, and expanding biopharmaceutical manufacturing capabilities. As technological advancements continue to enhance the efficiency and safety of viral vector and plasmid DNA production, the market is set to witness continued innovation and expansion across diverse therapeutic applications.
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KEY MARKET SEGMENTATION:
By Type
By End-Use
Segment Analysis
By Type, Nd: YAG segment held the significant revenue share in the laser hair removal market in 2023, due to the longer wavelength provide an advantage for treating pigmented skin and making it a preferred choice for many patients.
By End-Use, Dermatology Clinics held the significant revenue share in the laser hair removal market in 2023, due to rise in the increasing popularity of these procedures and the rising investment in advanced equipment by these facilities.
Key Players
Recent Developments
November 2023, Justera Health Ltd. incorporated the CUTERA XEO laser system. Manufactured by Cutera Face and Body Aesthetic Solutions, the XEO platform represents a significant advancement in non-invasive cosmetic treatments.
February 2023, Milan Laser Hair Removal, secured funding. The investment comes from Sixth Street and Wildcat Capital Management, two well-established investment firms.
Regional Analysis
The Asia Pacific region dominated the laser hair removal market with highest market share in 2023. This dominance is due to increasing population concern about hair removal treatments. The factors like rising disposable income, changing lifestyles, and a focus on advanced laser technologies. The increase in concern about hair loss and the new and innovative products further rises the growth of the laser hair removal market in this region.
North America is the second dominated region of the laser hair removal market due to the advancements in aesthetic technology. This development is a more effective hair removal solution. Also, Americans' have high healthcare spending which rises the growth of the market. The Europe region is growing due to supportive government policies and favourable regulatory policies. For instance, European countries, like the UK with its National Health Service, provide laser hair removal services.
Key Takeaways
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Laser Hair Removal Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Laser Hair Removal Market Segmentation, By Type
Chapter 9 Laser Hair Removal Market Segmentation, By End-Use
Chapter 10 Laser Hair Removal Market - Regional Analysis
Chapter 11 Company profile
Chapter 12 Competitive Landscape
Chapter 13 Use Case and Best Practices
Chapter 14 Conclusion
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