Laser Hair Removal Market Analysis By Type(Alexandrite Laser Hair Removal, Diode Laser Hair Removal, Nd: YAG), By Gender(Male, Female), By Age Group(13 to 29, 30 to 54, 55 to 69), By End User(Hospitals, Diagnostic Centers, Beauty Clinics, Dermatology Clinics, Home Use) & Forecast 2024-2035
- PUBLISHED ON
- 9/1/2022
- NO OF PAGES
- 241
- CATEGORY
- Healthcare & Life Sciences
In 2021, the market for Laser Hair Removal worldwide was worth $ 0.64 billion US dollars. AMR Group projects that the market will reach US$ 2.87 billion by 2031, growing at a CAGR of 18.5 percent between 2022 and 2031.
Industry Overview
The phrase "laser hair removal" represents the practice of employing laser light to decrease and eliminate undesired hair from a person's body. Wherever necessary, a specific portion of the person's body is exposed to laser light using the laser machine or equipment. Moreover, it eliminates all hair follicles in that region. Concerns about facial hair, such as hair growth on the lips, neck, chin, and sideburn region, as well as rising demand for cosmetic procedures that use intensely concentrated light beams to target and destroy hair follicles while also absorbing existing pigment, are other factors influencing the market. Aside from that, physicians use Hair Removal in clinical settings to obtain Hair Removal of for minor surgical procedures, as well as during sterilization and skin treatment process. Furthermore, hair removal devices improve organizational safety by providing better outcomes for people, such as faster skin recovery. The associated benefits are expected to boost the overall market penetration of these Laser Hair Removal in the coming years.
A laser transmitting system and hair follicle detectors are used to remove in medical Laser Hair Removal. Characteristics such as low radiation dose, high speed and accuracy, higher quality, and quick viewing enable higher patient screening volumes. Enhances hair removal in the United States, for example, 1,837,052 hair removal treatments were carried out globally in 2020, according the International Society of Aesthetic Plastic Surgery (ISAPS). The same source also said that around 1,538,982 hair removal treatments were carried out on females. Additionally, 635,618 hair removal treatments were carried out in the United States, according to the American Society of Plastic Surgeons (ASPS). According to the same statistic, 84% of females had hair removal operations. This has the added benefit of saving time and transferring skin appearance, as well as enhancing the skin care for better visibility and softness. This method avoids the use of chemical processing which helps in no chemical side effects and allergic reactions.
Market Dynamics
The rising awareness of skin care and physical appearance is one of the main factors driving the global expansion of hair removal, that also drives the Laser Hair Removal market. According to the rising numbers of professional and famous women, an increase in sedentary lives, a focus on physical attractiveness, and rising disposable wealth. Also, an increase in the number of laser hair removal companies launching new products promotes the market's expansion. Also, rise in trend towards maintaining optimal aesthetic beauty is one of the factor driving the market growth.
Laser Hair Removal Machines One of the market's primary drivers is technological advancement. Furthermore, the popularity of combining treatment modalities and enabling professionals to do photo-rejuvenation facials in only 15 minutes, together with increased technological breakthroughs in aesthetic lasers, are driving market expansion. Concerns about facial hair, such as hair growth on the lips, neck, chin, and sideburn region, as well as rising demand for cosmetic procedures that use intensely concentrated light beams to target and destroy hair follicles while also absorbing existing pigment, are other factors influencing the market. However, high treatment cost and maintenance costs, as well as an increase in the use of high intensity laser damaging the skin, are likely to stymie market growth.
COVID Impact
COVID-19 had a negative impact on the global Laser Hair Removal market growth. It is reported that the COVID-19 epidemic hampered the expansion of the worldwide laser hair removal industry. Several clinics and hospitals underwent organizational changes in order to increase hospital capacity for COVID-19 patients. Surgery that wasn't absolutely necessary was postponed because of the epidemic. Non-emergency aesthetic procedures like laser hair removal considerably reduce the earnings of aesthetic businesses. Also, a sudden dramatic decline in the average person's monthly income is predicted to have a detrimental effect on the laser hair removal business.
Regional Trend
Geographically, the global Laser Hair Removal market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Globally, North America dominated the global Laser Hair Removal market due to a rise in the demand for hair removal procedures, established dermatological clinics, and a growth in the number of qualified specialists in the area, with a revenue share of over 30.0%. In North America, professionals frequently employ aesthetic lasers for a variety of uses. Furthermore, it is anticipated that the presence of a sizable number of competitors in the area would be one of the key drivers of the market growth in the area. According to the International Society of Aesthetic Plastic Surgery, there were around 271,628 hair removal treatments performed in the United States in 2020, making them one of the top three most frequent procedures in the nation.
Significant growth is anticipated in Asia-Pacific during the forecast period of 2022 to 2029, attributed due to the increased instances of skin injury, particularly in China and India, and the growing population. Also, the industry is being affected by shifting lifestyles, increased consumer buying power, and an increase in medical tourism in Asia Pacific's emerging countries.
Competitive Landscape
Key players operating in the global tissue diagnostics market are Alma Lasers GMBH, Apax Partners LLP, Candela Corporation, Cutera, Cynosure, LLC, Hairline International Hair & Skin Clinic, La Mer Medical Spa & Yoga, Lira Style, Lumenis Be Ltd., LUTRONIC INC., Lynton Laser, Pure Luxe Medical, Regeneveda, Sciton, Inc., SEV Laser, SkinMD, Solta Medical, Inc., Syneron Medical Ltd., Venus Concept Inc. and Viora among others. The Elite iQTM platform, the upgraded Elite iQTM Aesthetic Workstation, will be on sale in the United States, Europe, and Australia in June 2020. It delivers tailored laser hair removal treatments and permits quicker treatments with greater maximum energy compared to earlier generations of devices.
Key USP’s-
The expansion of the market is being impacted by the rising number of FDA-approved products. The FDA has authorised a number of products due to their effectiveness, safety, and comfort for consumers at home, including Veet Infini'Silk Pro, Remington IPL6000 I-Light Pro, and Silk'n Flash&Go. Additionally, both men and women utilize these items.
Market Segmentation
Based upon the Type used in Laser Hair Removal market is segmented into three segments of Alexandrite Laser Hair Removal, Diode Laser Hair Removal and Nd: YAG in the hair removal process. Throughout the projected period, the Nd: YAG laser type market in the U.S. is anticipated to grow at a profitability of 18.6%. The industry is also being driven by growing worries about facial hair, including as hair development on the lips, neck, chin, and sideburn region. Based on the Gender, the Laser Hair Removal market is segmented into Male and Female. Based on Age Group, the Laser Hair Removal market is segmented into 13 to 29, 30 to 54 and 55 to 69.
End user segment of medical Laser Hair Removal diagnostics market is further classified into Hospitals, Diagnostic Centers, Beauty Clinics, Dermatology Clinics and Home Use. Dermatology Clinics segment dominated the market in terms of revenue owing to more inclination of patients towards the hair removal due to the rising awareness globally.
By Type
· Alexandrite Laser Hair Removal
· Diode Laser Hair Removal
· Nd: YAG
By Gender
· Male
· Female
By Age Group
· 13 to 29
· 30 to 54
· 55 to 69
By End User
· Hospitals
· Diagnostic Centers
· Beauty Clinics
· Dermatology Clinics
· Home Use
Global Laser Hair Removal Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Laser Hair Removal market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Key Points:
Define, describe and forecast Laser Hair Removal product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
Historic Year: 2016-2022
Forecast: 2024-2035
1 Laser Hair Removal Market Definition and Overview
1.1 Objectives of the Study
1.2 Overview of Laser Hair Removal
1.3 Laser Hair Removal Market Scope and Market Size Estimation
1.4 Market Segmentation
1.4.1 Types of Laser Hair Removal
1.4.2 Applications of Laser Hair Removal
1.5 Market Exchange Rate
2 Research Method and Logic
2.1 Methodology
2.2 Research Data Source
3 Market Competition Analysis
3.1 Venus Concept Market Performance Analysis
3.1.1 Venus Concept Basic Information
3.1.2 Product and Service Analysis
3.1.3 Strategies for Company to Deal with the Impact of COVID-19
3.1.4 Venus Concept Sales, Value, Price, Gross Margin 2016-2021
3.2 Hologic, Inc (Cynosure) Market Performance Analysis
3.2.1 Hologic, Inc (Cynosure) Basic Information
3.2.2 Product and Service Analysis
3.2.3 Strategies for Company to Deal with the Impact of COVID-19
3.2.4 Hologic, Inc (Cynosure) Sales, Value, Price, Gross Margin 2016-2021
3.3 Elen s.p.a Market Performance Analysis
3.3.1 Elen s.p.a Basic Information
3.3.2 Product and Service Analysis
3.3.3 Strategies for Company to Deal with the Impact of COVID-19
3.3.4 Elen s.p.a Sales, Value, Price, Gross Margin 2016-2021
3.4 Apax Partners (Syneron Candela) Market Performance Analysis
3.4.1 Apax Partners (Syneron Candela) Basic Information
3.4.2 Product and Service Analysis
3.4.3 Strategies for Company to Deal with the Impact of COVID-19
3.4.4 Apax Partners (Syneron Candela) Sales, Value, Price, Gross Margin 2016-2021
3.5 Sciton, Inc Market Performance Analysis
3.5.1 Sciton, Inc Basic Information
3.5.2 Product and Service Analysis
3.5.3 Strategies for Company to Deal with the Impact of COVID-19
3.5.4 Sciton, Inc Sales, Value, Price, Gross Margin 2016-2021
3.6 XIO Group (Lumenis) Market Performance Analysis
3.6.1 XIO Group (Lumenis) Basic Information
3.6.2 Product and Service Analysis
3.6.3 Strategies for Company to Deal with the Impact of COVID-19
3.6.4 XIO Group (Lumenis) Sales, Value, Price, Gross Margin 2016-2021
3.7 Lynton Lasers Group Market Performance Analysis
3.7.1 Lynton Lasers Group Basic Information
3.7.2 Product and Service Analysis
3.7.3 Strategies for Company to Deal with the Impact of COVID-19
3.7.4 Lynton Lasers Group Sales, Value, Price, Gross Margin 2016-2021
3.8 Cutera Market Performance Analysis
3.8.1 Cutera Basic Information
3.8.2 Product and Service Analysis
3.8.3 Strategies for Company to Deal with the Impact of COVID-19
3.8.4 Cutera Sales, Value, Price, Gross Margin 2016-2021
3.9 Sharplight Technologies Ltd Market Performance Analysis
3.9.1 Sharplight Technologies Ltd Basic Information
3.9.2 Product and Service Analysis
3.9.3 Strategies for Company to Deal with the Impact of COVID-19
3.9.4 Sharplight Technologies Ltd Sales, Value, Price, Gross Margin 2016-2021
3.10 Viora Market Performance Analysis
3.10.1 Viora Basic Information
3.10.2 Product and Service Analysis
3.10.3 Strategies for Company to Deal with the Impact of COVID-19
3.10.4 Viora Sales, Value, Price, Gross Margin 2016-2021
3.11 Lutronic Market Performance Analysis
3.11.1 Lutronic Basic Information
3.11.2 Product and Service Analysis
3.11.3 Strategies for Company to Deal with the Impact of COVID-19
3.11.4 Lutronic Sales, Value, Price, Gross Margin 2016-2021
3.12 Fotona Market Performance Analysis
3.12.1 Fotona Basic Information
3.12.2 Product and Service Analysis
3.12.3 Strategies for Company to Deal with the Impact of COVID-19
3.12.4 Fotona Sales, Value, Price, Gross Margin 2016-2021
3.13 Valeant Pharmaceuticals (Solta Medical, Inc) Market Performance Analysis
3.13.1 Valeant Pharmaceuticals (Solta Medical, Inc) Basic Information
3.13.2 Product and Service Analysis
3.13.3 Strategies for Company to Deal with the Impact of COVID-19
3.13.4 Valeant Pharmaceuticals (Solta Medical, Inc) Sales, Value, Price, Gross Margin 2016-2021
3.14 Fosun Pharma (Sisram) Market Performance Analysis
3.14.1 Fosun Pharma (Sisram) Basic Information
3.14.2 Product and Service Analysis
3.14.3 Strategies for Company to Deal with the Impact of COVID-19
3.14.4 Fosun Pharma (Sisram) Sales, Value, Price, Gross Margin 2016-2021
3.15 Miracle Laser Systems, Inc Market Performance Analysis
3.15.1 Miracle Laser Systems, Inc Basic Information
3.15.2 Product and Service Analysis
3.15.3 Strategies for Company to Deal with the Impact of COVID-19
3.15.4 Miracle Laser Systems, Inc Sales, Value, Price, Gross Margin 2016-2021
4 Market Segment by Type, Historical Data and Market Forecasts
4.1 Global Laser Hair Removal Production and Value by Type
4.1.1 Global Laser Hair Removal Production by Type 2016-2021
4.1.2 Global Laser Hair Removal Market Value by Type 2016-2021
4.2 Global Laser Hair Removal Market Production, Value and Growth Rate by Type 2016-2021
4.2.1 Multiple Standard Wavelengths Market Production, Value and Growth Rate
4.2.2 Specific Standard Wavelength Market Production, Value and Growth Rate
4.3 Global Laser Hair Removal Production and Value Forecast by Type
4.3.1 Global Laser Hair Removal Production Forecast by Type 2021-2026
4.3.2 Global Laser Hair Removal Market Value Forecast by Type 2021-2026
4.4 Global Laser Hair Removal Market Production, Value and Growth Rate by Type Forecast 2021-2026
4.4.1 Multiple Standard Wavelengths Market Production, Value and Growth Rate Forecast
4.4.2 Specific Standard Wavelength Market Production, Value and Growth Rate Forecast
5 Market Segment by Application, Historical Data and Market Forecasts
5.1 Global Laser Hair Removal Consumption and Value by Application
5.1.1 Global Laser Hair Removal Consumption by Application 2016-2021
5.1.2 Global Laser Hair Removal Market Value by Application 2016-2021
5.2 Global Laser Hair Removal Market Consumption, Value and Growth Rate by Application 2016-2021
5.2.1 Beauty Spa Market Consumption, Value and Growth Rate
5.2.2 Hospital Market Consumption, Value and Growth Rate
5.2.3 Household Market Consumption, Value and Growth Rate
5.3 Global Laser Hair Removal Consumption and Value Forecast by Application
5.3.1 Global Laser Hair Removal Consumption Forecast by Application 2021-2026
5.3.2 Global Laser Hair Removal Market Value Forecast by Application 2021-2026
5.4 Global Laser Hair Removal Market Consumption, Value and Growth Rate by Application Forecast 2021-2026
5.4.1 Beauty Spa Market Consumption, Value and Growth Rate Forecast
5.4.2 Hospital Market Consumption, Value and Growth Rate Forecast
5.4.3 Household Market Consumption, Value and Growth Rate Forecast
6 Global Laser Hair Removal by Region, Historical Data and Market Forecasts
6.1 Global Laser Hair Removal Sales by Region 2016-2021
6.2 Global Laser Hair Removal Market Value by Region 2016-2021
6.3 Global Laser Hair Removal Market Sales, Value and Growth Rate by Region 2016-2021
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 South America
6.3.5 Middle East and Africa
6.4 Global Laser Hair Removal Sales Forecast by Region 2021-2026
6.5 Global Laser Hair Removal Market Value Forecast by Region 2021-2026
6.6 Global Laser Hair Removal Market Sales, Value and Growth Rate Forecast by Region 2021-2026
6.6.1 North America
6.6.2 Europe
6.6.3 Asia Pacific
6.6.4 South America
6.6.5 Middle East and Africa
7 United State Market Size Analysis 2016-2026
7.1 United State Laser Hair Removal Value and Market Growth 2016-2021
7.2 United State Laser Hair Removal Sales and Market Growth 2016-2021
7.3 United State Laser Hair Removal Market Value Forecast 2021-2026
8 Canada Market Size Analysis 2016-2026
8.1 Canada Laser Hair Removal Value and Market Growth 2016-2021
8.2 Canada Laser Hair Removal Sales and Market Growth 2016-2021
8.3 Canada Laser Hair Removal Market Value Forecast 2021-2026
9 Germany Market Size Analysis 2016-2026
9.1 Germany Laser Hair Removal Value and Market Growth 2016-2021
9.2 Germany Laser Hair Removal Sales and Market Growth 2016-2021
9.3 Germany Laser Hair Removal Market Value Forecast 2021-2026
10 UK Market Size Analysis 2016-2026
10.1 UK Laser Hair Removal Value and Market Growth 2016-2021
10.2 UK Laser Hair Removal Sales and Market Growth 2016-2021
10.3 UK Laser Hair Removal Market Value Forecast 2021-2026
11 France Market Size Analysis 2016-2026
11.1 France Laser Hair Removal Value and Market Growth 2016-2021
11.2 France Laser Hair Removal Sales and Market Growth 2016-2021
11.3 France Laser Hair Removal Market Value Forecast 2021-2026
12 Italy Market Size Analysis 2016-2026
12.1 Italy Laser Hair Removal Value and Market Growth 2016-2021
12.2 Italy Laser Hair Removal Sales and Market Growth 2016-2021
12.3 Italy Laser Hair Removal Market Value Forecast 2021-2026
13 Spain Market Size Analysis 2016-2026
13.1 Spain Laser Hair Removal Value and Market Growth 2016-2021
13.2 Spain Laser Hair Removal Sales and Market Growth 2016-2021
13.3 Spain Laser Hair Removal Market Value Forecast 2021-2026
14 Russia Market Size Analysis 2016-2026
14.1 Russia Laser Hair Removal Value and Market Growth 2016-2021
14.2 Russia Laser Hair Removal Sales and Market Growth 2016-2021
14.3 Russia Laser Hair Removal Market Value Forecast 2021-2026
15 China Market Size Analysis 2016-2026
15.1 China Laser Hair Removal Value and Market Growth 2016-2021
15.2 China Laser Hair Removal Sales and Market Growth 2016-2021
15.3 China Laser Hair Removal Market Value Forecast 2021-2026
16 Japan Market Size Analysis 2016-2026
16.1 Japan Laser Hair Removal Value and Market Growth 2016-2021
16.2 Japan Laser Hair Removal Sales and Market Growth 2016-2021
16.3 Japan Laser Hair Removal Market Value Forecast 2021-2026
17 South Korea Market Size Analysis 2016-2026
17.1 South Korea Laser Hair Removal Value and Market Growth 2016-2021
17.2 South Korea Laser Hair Removal Sales and Market Growth 2016-2021
17.3 South Korea Laser Hair Removal Market Value Forecast 2021-2026
18 Australia Market Size Analysis 2016-2026
18.1 Australia Laser Hair Removal Value and Market Growth 2016-2021
18.2 Australia Laser Hair Removal Sales and Market Growth 2016-2021
18.3 Australia Laser Hair Removal Market Value Forecast 2021-2026
19 Thailand Market Size Analysis 2016-2026
19.1 Thailand Laser Hair Removal Value and Market Growth 2016-2021
19.2 Thailand Laser Hair Removal Sales and Market Growth 2016-2021
19.3 Thailand Laser Hair Removal Market Value Forecast 2021-2026
20 Brazil Market Size Analysis 2016-2026
20.1 Brazil Laser Hair Removal Value and Market Growth 2016-2021
20.2 Brazil Laser Hair Removal Sales and Market Growth 2016-2021
20.3 Brazil Laser Hair Removal Market Value Forecast 2021-2026
21 Argentina Market Size Analysis 2016-2026
21.1 Argentina Laser Hair Removal Value and Market Growth 2016-2021
21.2 Argentina Laser Hair Removal Sales and Market Growth 2016-2021
21.3 Argentina Laser Hair Removal Market Value Forecast 2021-2026
22 Chile Market Size Analysis 2016-2026
22.1 Chile Laser Hair Removal Value and Market Growth 2016-2021
22.2 Chile Laser Hair Removal Sales and Market Growth 2016-2021
22.3 Chile Laser Hair Removal Market Value Forecast 2021-2026
23 South Africa Market Size Analysis 2016-2026
23.1 South Africa Laser Hair Removal Value and Market Growth 2016-2021
23.2 South Africa Laser Hair Removal Sales and Market Growth 2016-2021
23.3 South Africa Laser Hair Removal Market Value Forecast 2021-2026
24 Egypt Market Size Analysis 2016-2026
24.1 Egypt Laser Hair Removal Value and Market Growth 2016-2021
24.2 Egypt Laser Hair Removal Sales and Market Growth 2016-2021
24.3 Egypt Laser Hair Removal Market Value Forecast 2021-2026
25 UAE Market Size Analysis 2016-2026
25.1 UAE Laser Hair Removal Value and Market Growth 2016-2021
25.2 UAE Laser Hair Removal Sales and Market Growth 2016-2021
25.3 UAE Laser Hair Removal Market Value Forecast 2021-2026
26 Saudi Arabia Market Size Analysis 2016-2026
26.1 Saudi Arabia Laser Hair Removal Value and Market Growth 2016-2021
26.2 Saudi Arabia Laser Hair Removal Sales and Market Growth 2016-2021
26.3 Saudi Arabia Laser Hair Removal Market Value Forecast 2021-2026
27 Market Dynamic Analysis and Development Suggestions
27.1 Market Drivers
27.2 Market Development Constraints
27.3 PEST Analysis
27.3.1 Political Factors
27.3.2 Economic Factors
27.3.3 Social Factors
27.3.4 Technological Factors
27.4 Industry Trends Under COVID-19
27.4.1 Risk Assessment on COVID-19
27.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
27.4.3 Pre COVID-19 and Post COVID-19 Market Scenario
27.5 Market Entry Strategy Analysis
27.5.1 Market Definition
27.5.2 Client
27.5.3 Distribution Model
27.5.4 Product Messaging and Positioning
27.5.5 Price
27.6 Advice on Entering the Market
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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