The global aesthetic/ cosmetic lasers market size was valued at USD 1.78 Billion in 2018 is projected to reach USD 6.06 Billion by 2026, exhibiting a CAGR of 16.6% during the forecast period.
Aesthetic devices refer to all medical devices that are used for various cosmetic procedures, including plastic surgery, unwanted hair removal, excess fat removal, anti-aging, skin tightening, etc. These procedures are used for correction, beautification, and improvement of the body. Aesthetic devices can be classified into energy based and non- energy based devices. The energy-based aesthetic devices include cosmetic lasers, radiofrequency (RF), light-based, and ultrasound aesthetic devices. The aesthetic laser devices are preferred over other devices due to various benefits such as ease use, minimally invasive and less time consuming procedure.
Demand for non-invasive aesthetic treatments is soaring globally and there is no sign of deceleration of the trend. Medical and cosmetic skin procedures have seen a stable increase within the last decade. Increasing incidence of cancer and higher demand for skin rejuvenation procedures are major elements propelling the use of aesthetic lasers.
There is an intensifying concern of the general population regarding appearance, both in the developed and the developing countries. This is one of the major factors giving rise to the increasing number of cosmetic surgeries. The demand for hair removal procedures using laser treatment is increasing due to rising cases of the polycystic ovarian syndrome (PCOD)/ (PCOS) and hirsutism. Also, there is an increasing demand for skin resurfacing/ lightening procedures, especially in the developing countries, such as India and China.
Investments done by key market players for developing procedure-specific laser systems is expected to boost the demand for aesthetic lasers globally giving the market a considerable growth. Growing demand among customers desiring anti-age treatments, is one of the factors increasing demand for laser based treatments, subsequently driving the growth of the cosmetic lasers market in 2018.
“Rising Adoption of Minimally Invasive Energy-based Aesthetic Devices”
Increasing importance placed on physical appearance is one of the reasons influencing people to move towards the minimally invasive cosmetic laser procedures, such as hair removal, acne reduction, skin tightening and others. This factor is likely to increase the need for aesthetic lasers hence boosting the market growth.
The introduction of technologically advanced and procedure-specific aesthetic laser systems is attracting the female population primarily to undergo aesthetic procedures, such as acne reduction, hair removal, etc. The rising demand for the procedure specific laser treatments is influencing key market players to introduce novel energy-based aesthetic laser systems in the market and hence driving the growth of the aesthetic lasers market during the forecast period.
For instance, in September 2018, Radium Medical Aesthetics introduced a new combined laser program to treat patients with stretch marks and rough skin. This combined laser program is called the Pico Skin Illumination Program. Unlike most lasers in other hospitals, this program enables the doctor to blend, fit, and customize a distinctive skin-enhancing, rejuvenating practice for his clients/patients.
“Increasing Obese Population and Prevalence of Skin Conditions to propel the growth of the market.”
Rising obese population due to sedentary lifestyles in developed and developing countries is influencing people to undergo body restructuring or reshaping treatments. The minimally invasive and quick action of lasers is catching the patient’s attentions to undergo several cosmetic procedures. This is one of the significant reasons that is likely to fuel the demand for aesthetic lasers. According to the Centers for Disease Control and Prevention, an estimated 38.9% U.S. adults (estimated 93.3 million) were suffering from obesity during 2015-2016.
The rising prevalence of skin disease or skin conditions, such as rosacea and others is one of the reasons increasing the use of cosmetic lasers for treatment. Hence, it is propelling the demand for minimally invasive energy-based aesthetic lasers. For instance, an article published by The British Journal of Dermatology, states that the pooled proportion of individuals with rosacea was 5.46% in the general population and 2.39% among dermatology patients globally.
The high number of obese people and rising number of skin disease are some of the factors anticipated to fuel the demand of aesthetic lasers and hence likely to drive the cosmetic lasers market growth.
By Application Analysis
“The Hair Removal Segment is Anticipated to Grow at a Significant CAGR During the Forecast Period.”
The application segment includes hair removal, pigmentation & tattoo removal, body shaping & tightening, skin rejuvenation, acne reduction, and others. Among these, hair removal segment is anticipated to grow at a significant CAGR during the forecast period.
The increasing prevalence of polycystic ovarian syndrome (PCOS) is one of the major reasons increasing the demand for hair removal treatment due to the excess hair growth observed by the patient suffering from the polycystic ovarian syndrome. According to an article published in October 2018, by International Journal of Reproduction, Contraception, Obstetrics, and Gynecology, the prevalence of PCOS ranges from 3.7% to 22.5% going as high as 36% in adolescents in India.
Introduction of various application-specific devices by key market players and increasing demand for minimally invasive hair removal treatment are some of the major factors driving the hair removal application segment growth. For instance, in October 2018, Lumenis Ltd., introduced the new laser hair removal solution, SPLENDOR X. It is the first solid state laser system equipped with the unique BLEND X technology for fast and effective hair removal and skin solutions. The introduction of technologically advanced and effective hair removal laser system is anticipated to increase the demand for laser hair removal procedures, subsequently driving the growth of the hair removal segment.
Body shaping & tightening segment is anticipated to account for significant market share owing to an increasing number of the population undergoing these procedures. The rising number of people suffering from acne is one of the factors projected to increase the demand for laser acne reduction treatment during the forecast period.
By End User Analysis
“Medical Spas and Specialty Clinics Segment to Hold the Highest Share.”
The end user segment in the aesthetic lasers market includes hospitals and specialty clinics. The increasing number of medical spas and specialty clinics, such as laser treatment clinics and skin clinics is one the major factors increasing the demand for aesthetic laser systems in the market. This is anticipated to propel the growth of the clinic’s segment during the forecast period.
An increasing number of skin problems is one of the major reasons for driving the cosmetic lasers market growth. Expansion in the cosmetic industry and rise in awareness about physical appearance among the population are some of the factors anticipate to propel the demand for the procedure specific cosmetic lasers. This is projected to increase the number of people undergoing minimally invasive cosmetic procedures. This is one of the primary reason for driving the demand for aesthetic lasers in specialty clinics.
North America generated a revenue of USD 0.66 Billion in 2018 and is anticipated to grow at a significant CAGR during the forecast period. Increasing prevalence of skin problems, including acne, pigmentation, and scarring drives the demand for the minimally invasive cosmetic treatment, subsequently driving the demand for the cosmetic lasers in North America. According to the American Academy of Dermatology, approximately 85% of Americans suffer from acne at some phase in their lives. The presence of a large number of medical spas and salons and beauty clinics, coupled with the presence of skilled people are key driving factors of the North America cosmetic lasers market growth.
On the other hand, Asia Pacific is anticipated to dominate the market and is projected to grow at a higher CGAR during the forecast period of 2019-2026. Increasing awareness and consciousness about appearance in the developing countries such as India is expected to increase the demand for other cosmetic laser treatments.
Rising medical tourism and an increasing number of minimally invasive aesthetic surgical procedures are attributable to the market growth in Asia Pacific. This along with the rising geriatric population and comparatively lower cost of aesthetic procedures Asia Pacific are two of the significant factors driving the cosmetic procedures in the region and hence propelling the growth of Asia Pacific aesthetic lasers. Geographical presence of key market players in the region and its established business propels the use of the cosmetic lasers in the region, subsequently contributing toward the growth of the cosmetic lasers market.
North America Aesthetic Lasers Market Size, 2018Developed countries, including Italy, Spain, and Germany, would contribute to the growth of the aesthetic lasers market in Europe. An increasing number of laser hair removal, body tightening procedure in Italy is one of the key factor projecting the Europe aesthetic lasers market growth.
The Middle East and Africa and Latin America are projected to grow at a faster pace due to increased adoption of the laser cosmetic procedures and technologically advanced laser systems.
INDUSTRY KEY PLAYERS
“Cynosure, Inc., Lumenis, CANDELA CORPORATION, and Cutera dominated the Market.”
The aesthetic lasers market is a semi-consolidated market with the players accounting for a significant share of the market in 2018. A well-established brand presence in the cosmetic lasers segment, combined with a strong product portfolio in all types of aesthetic lasers, has been influential in the dominance of these players in the global market. However, other market players are expanding their portfolio of aesthetic lasers, especially in the procedure and application-specific lasers, along with a focus on the expansion of geographic presence and strengthening their distribution channel. They are expected to gain high market share during the forecast period.
LIST OF KEY COMPANIES PROFILED:
- CANDELA CORPORATION
- Cynosure, Inc.
- Ellex Aesthetic Lasers Ltd.
- Alma Lasers
- Aerolase Corp.
- Solta Medical
- Lynton Lasers
- El.En. S.p.A.
- Sciton, Inc.
“A growing trend is observed in the penetration of the aesthetic lasers market across the industries. “
The report provides qualitative and quantitative insights on the aesthetic lasers market and detailed analysis of aesthetic lasers market size & growth rate for all possible segments in the market. The global aesthetic lasers market is segmented by application, end user, and geography. Based on application, the market is segmented into hair removal, pigmentation & tattoo removal, body shaping & tightening, skin rejuvenation, acne reduction, and others. By end user, the market is segmented into hospitals and medical spas and specialty clinics. Geographically, the market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America this region is further categorized into countries.
Along with this, the report provides an elaborative analysis of the aesthetic lasers market dynamics and competitive landscape. Various key insights presented in the report are the recent industry developments in aesthetic lasers, number of aesthetic procedures performed by key regions/ key countries, detailed product mapping by key market players, in the aesthetic lasers market, such as mergers & acquisitions, SWOT analysis, and key industry trends, competitive landscape and company profiles.
REPORT SCOPE & SEGMENTATION
|Unit||Value (USD Billion)|
|Segmentation||By Application Hair Removal Pigmentation & Tattoo Removal Body Shaping & Tightening Skin Rejuvenation Acne Reduction Others|
|By End User Hospitals Medical Spas and Specialty Clinics|
|By Geography North America (U.S. and Canada) Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe) Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific) Latin America (Brazil, Mexico, and Rest of Latin America) Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)|