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The global aesthetic lasers market size is estimated to grow by USD 1.26 billion at a CAGR (Compound Annual Growth Rate) of 11.94% between 2023 and 2028.
Medical aesthetics is a rising trend across the globe as it has evolved as a part of regular treatment among people who want a non-invasive cosmetic treatment for a natural and healthy appearance. Medical aesthetic clinical treatments are now gaining popularity owing to their rapid results in a short duration. Furthermore, market players are contributing to the growth in awareness about medical aesthetics by organizing awareness programs about skin diseases. With a global gain in awareness about skin health, the number of procedures is increasing, which will drive the growth of the market during the forecast period.
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Technologies such as CO2 laser, Erbium laser, Pulsed dye laser and Pulsed dye lasers are revolutionizing treatments for conditions like vascular lesions, acne, and sagging skin. Laser procedures like laser resurfacing and laser-assisted lipoplasty offer minimally invasive options for addressing wrinkles, acne scars, and facial pigmentation. Hair removal procedures using lasers have become increasingly popular, especially among the geriatric population looking for anti-aging solutions. Additionally, treatments targeting vascular conditions, dull skin, and skin irregularities are made possible through innovative laser technologies, highlighting the versatility and effectiveness of lasers in the aesthetic industry.
The market witnesses robust growth driven by the rising demand for non-invasive cosmetic procedures. These lasers are instrumental in addressing various concerns, such as vascular lesions, hair removal procedures, and laser skin resurfacing. They are also crucial for laser-assisted lipoplasty and treating vascular and pigmented lesions, along with tackling facial wrinkles, blemishes, and skin irregularities across different areas of the body, including the face, chest, arms, and hands. Leading companies like Alma Lasers offer a range of lasers, including CO2, Erbium laser, and Pulsed dye laser, including fractional pulsed dye lasers. As the market responds to increasing demands from the acne-prone and geriatric populations, these lasers play a vital role in addressing concerns such as sagging skin and anti-aging.
The market share growth by the standalone laser devices segment will be significant during the forecast period. The standalone laser consists of a laser that is operated on its own and does not need to be integrated into other equipment or devices. Standalone laser devices offer an effective and relatively safer alternative to invasive surgical procedures for various aesthetic treatments, such as hair removal, skin rejuvenation, tattoo removal, and acne treatment.
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The standalone laser devices segment was valued at USD 873.35 million in 2018. Advances in laser technology have led to the development of more advanced and versatile standalone devices. These devices are equipped with multiple wavelength options, adjustable settings, and precise targeting capabilities, allowing practitioners to customize treatments based on individual patient needs. Hence, such factors will drive the growth of the market through the standalone laser devices segment during the forecast period.
Hospitals deliver a broad range of laser-based aesthetic treatments, such as laser hair removal, skin resurfacing, scar revision, and vascular lesion removal. These treatments require specialized equipment and expertise, which hospitals can provide. Hospitals often have access to advanced technology and research resources. Besides, hospitals often have dedicated dermatology, plastic surgery, or aesthetic departments staffed by trained healthcare professionals, providing the safe and effective use of laser devices. Thus, such factors are expected to fuel the growth of the market through the hospitals segment during the forecast period.
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. North America is the largest revenue contributor to the market due to the increasing awareness and adoption of non-invasive medical aesthetic treatments in the region.
In addition, the US and Canada are the main revenue contributors to the market in North America, mainly due to a continued rise in the geriatric population and the presence of several large players such as Abbvie Inc. and Candela Corp. The presence of advanced healthcare infrastructure and experienced healthcare practitioners (HCPs) in North America and the availability of cutting-edge diagnostic techniques will also propel the growth of the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Bausch Health Companies Inc.: The company offers aesthetic lasers such as thermage system, clear plus brilliant, and fraxel treatment.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market experiences a surge in demand, fueled by the aging baby boomer population seeking cosmetic solutions. Key players like Candela Medical and Alma Lasers offer innovative technologies such as the Picosecond laser platform for various treatments and laser procedures, including hair removal, laser skin resurfacing, and laser-assisted lipoplasty. These lasers effectively target vascular and pigmented lesions, facial wrinkles, and skin irregularities on the face, chest, arms, and hands. With advancements like CO2, Erbium, and Pulsed dye lasers, the market caters to diverse skin conditions and skin types endorsed by renowned organizations like the International Society of Plastic Surgery (ISAPS). Moreover, the rising popularity of minimally invasive procedures, including cosmetic surgery and intense pulsed light (IPL) treatments, further propels market growth. Leading clinics like SL Aesthetic Clinic utilize advanced lasers like Fotona Laser and Alexandrite laser for treatments like tattoo removal and skin rejuvenation & toning, ensuring effective solutions for consumers with surplus income. Other notable innovations include Picoway, LaseMD, FraxPro, and Pixel CO2, enhancing the market's offerings for a wide range of aesthetic concerns. There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key trends and challenges.
Opportunities for growth in the male aesthetics industry are the primary trends shaping market growth. Opting men for procedures that don't require surgery to get healthier and younger skin can be a driving force behind the development of an industry in facial aesthetics. The demand for non-surgical cosmetic procedures for skin tightening among men is to prevent conditions such as sagging skin around the neck, which is called Turkey neck, and excess skin from the upper eyelids.
Therefore, the advantages provided by non-invasive procedures have raised the level of preference and acceptance of male aesthetics, which is contributing to the revenue generated by the market. Hence, the market is anticipated to witness high growth during the forecast period.
The high cost of aesthetic laser devices is a challenge that affects market growth. In developing countries such as India and China, the adoption of non-surgical skin tightening procedures is lower due to high costs. On average, laser skin tightening costs between USD 450 and USD 2,000 for the entire course of treatment. Numerous factors influence the cost of skin tightening, and each patient will require a skin rejuvenation method that is particularly designed for his or her requirements.
Furthermore, most market players target their products for high-income and upper-middle-class patients. Hence, the inability of middle and lower-middle-class patients to opt for costly non-surgical skin tightening is becoming one of the major challenges that will impede the market growth and trends during the forecast period.
The market trends and analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The global aesthetic laser market experiences exponential growth, propelled by factors like the aging baby boomer population with surplus income and a burgeoning middle class. This demographic trend fuels the demand for cosmetic surgeries and radiofrequency-based treatments, with advanced technologies like Picoway, LaseMD, FraxPro, and Pixel CO2 leading the market. Candela Medical's Stellar M22 addresses various concerns, from pigmented lesions to skin rejuvenation & toning, showcasing technological advancements in the field.
Social media exposure contributes to increased aesthetic awareness, driving the demand for anti-aging procedures and minimally invasive treatments over invasive surgeries. With a focus on non-invasive tightening and IPL laser treatment, aesthetic lasers offer solutions for wrinkles, acne scars, facial pigmentation, vascular conditions, and dull skin. The International Society of Aesthetic Plastic Surgery's 2020 Plastic Surgery Statistics Report highlights the growing popularity of laser-based interventions for enhancing one's appearance.
The Aesthetic devices industry growth and forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Market Report Coverage |
Details |
Page number |
149 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.94% |
Market Growth 2024-2028 |
USD 1.26 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.4 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Germany, UK, China, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Australian Aesthetic Devices Pty Ltd, Bausch Health Companies Inc., Candela Corp., Cutera Inc., Cynosure LLC, DEKA M.E.L.A. S.r.l., Elesta SpA, Fotona d.o.o, Galderma S.A., Gooch and Housego Plc, Hologic Inc., Lumenis Be Ltd., Lutronic Inc., Lynton Lasers Ltd., Quanta System S.p.A., Sciton Inc., Shanghai Fosun Pharmaceutical Group Co. Ltd., SharpLight Technologies Inc., Sisram Medical Ltd., and Strata Skin Sciences Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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