Global Aesthetic Laser Device Market Report 2022: Sector to Reach $1.8 Billion by 2028 at a 9% CAGR

News provided by

Apr 06, 2023, 17:45 ET

DUBLIN, April 6, 2023 /PRNewswire/ -- The "Global Aesthetic Laser Device Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type, by Application, by End User, and by Regions" report has been added to ResearchAndMarkets.com's offering.

The Global Aesthetic Laser Device Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028) and reach a revenue of US$ 1.8 Bn by 2028, due to the rising spending & awareness by the consumers of their physical appearances, technical advancements in such treatments, and the increasing affordability of such procedures.

The growing elderly population and the demand from this demographic to go for skin rejuvenation is one of the major factors propelling the Aesthetic Laser Device market growth.

According to World Health Organization, between 2015 and 2050, the proportion of people aged above 60 in the world's population will nearly double and it will reach 22% from 12%.

The strict rules and regulations as well as the safety guidelines laid out by the relevant authorities by different governments is a key challenge to the growth of the market.

For example, the United States Food and Drug Administration, the federal agency of the Department of Health and Human Services, regulates the types of physical devices that can be made available in the market.

Similarly, the American Society for Laser Medicine & Surgery, Inc. has laid out some standards for the device operators to meet certain training criteria such as being capable to evaluate the best laser treatment to be conducted based on the condition of the individual.

The Covid-19 pandemic had a negative influence on the growth of the market for Aesthetic Laser devices as the governments worldwide imposed lockdowns and social distancing norms thereby forcing these facilities to halt their operations.

According to the American Society of Plastic Surgeons, the number of laser hair removal procedures declined by 28% in 2021 as compared to 2020.

However, after the lockdowns were relaxed there has been a growth in this market as more and more people are again coming for such treatments.

Scope of the Report

The Aesthetic Laser Device Market is segmented by Type, Application, and End-User. In addition, the report also covers the market size for each of the four regions' Aesthetic Laser device markets. The revenue used to size and forecast the market for each segment is USD million.

By Type

Standalone Lasers
Multiplatform Laser
Others

By Application

Hair Removal
Skin Rejuvenation
Vascular Lesions, Acne & Scars
Pigmented Lesion & Tattoo Removal
Leg & Varicose Veins
Other Applications

By End User

Hospitals
Private Clinics
Medical Spas
Others

By Geography

North America (U.S., Canada, Mexico)
Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
LAMEA (Latin America, Middle East, and Africa)

Key Companies

Cynosure, Inc
Aerolase Corp
Lumenis Be Ltd
Sciton
Solta Medical
SharpLight Technologies Ltd
Cutera
Alma Lasers
Candela Corporation
El.En. S.P.A
Rohrer Aesthetics, Inc

Key Trends by Market Segment

By Type: Multiplatform Lasers segment holds the largest share of the Global Aesthetic Laser Type Market in 2021

The multiplatform lasers segment dominates the Aesthetic Laser devices market by type as they offer multiple technologies, and are scalable & upgradeable. They are cheaper to operate, occupy less space, and have a low maintenance cost as these require a smaller number of service visits than a standalone laser

Also, these provide the flexibility of having multiple standalone systems integrated into a single package and hence provide a better return on investment.

By Application: The Hair Removal segment dominated the market for Aesthetic Laser devices in 2021.

More and more individuals are being conscious about their physical appearance and rely on aesthetic procedures for their body hair removal which are the major factors of growth of this segment. As laser hair removal procedures are permanent solutions for hair removal methods, hence this segment is growing.

Furthermore, the increased number of PCOS (Polycystic ovary syndrome)/PCOD (Polycystic ovary syndrome) patients who suffer from unwanted hair growth are also opting for aesthetic hair removal procedures propelling the market to grow.

According to an article published by MSD Manual by Merck & Co, Inc. in September 2022, anywhere between 5 to 10% of women in the US suffer from PCOS.

By End User: The Private Clinics segment held the largest market share in 2021.

The growing number of private surgeons offering minimally invasive cosmetic surgeries through the increasing number of private clinics is driving the growth of the aesthetic laser device market globally.

According to data published by The Private Healthcare Information Network, a UK government-mandated but independent organization providing data on private hospitals, consultants, and patient visits, between July and September 2021, there was a total number of 186,000 patient admissions in private hospitals.

Also, many of the consultants of the National Health Service (NHS) of England have shares in private clinics which have generated revenues in excess of GBP 1 Bn since 2015 as per an article by The Guardian.

By Geography: North Americaaccounts for the largest share among all Regions within the total Aesthetic Laser Device market in 2021.

The high level of consumer awareness, high-income levels, availability of the latest procedures, and skilled personnel are driving the growth of the North American market.

In 2020, ~200,000 laser tattoo removal and more than 750,000 laser hair removal procedures were carried out in the US alone as per data provided by Rohrer Aesthetics, Inc., one of the major players in the market.

The Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period 2022-2028, owing to its high population, being a major destination for medical tourism, and growing awareness among people on aesthetic laser procedures.

Recent Developments Related to Major Players and Organizations

In June 2022, Cynosure launched an upgrade to its PicoSure platform with the PicoSure Pro device which is the only FDA-approved 755nm picosecond laser in the US market. The device is used for skin revitalization and unwanted pigmentation
In March 2022, Aerolase extended its universal laser technology treatment range through a partnership with French device maker Clarteis SAS and launched Exci308TM, a handheld excimer phototherapy device

Conclusion

The global Aesthetic Laser device market is forecasted to continue its stable growth since 2017. One of the major trends driving market expansion is the spiraling demand for minimally invasive procedures as well as the growing awareness and trust of the consumers for such procedures. Though the market is fairly competitive with ~100 participants, few global players control the dominant share in terms of market revenue and regional players also hold a significant share.

Key Topics Covered in the Report

Snapshot of Global Aesthetic Laser Device Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Aesthetic Laser Device Market
Historic Growth of Overall Global Aesthetic Laser Device Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter's 5 Forces Analysis of Global Aesthetic Laser Device Industry
Overview, Product Offerings, and Strength & Weakness of Key Competitors
Covid-19 Impact on the Overall Global Aesthetic Laser Device Market
Future Market Forecast and Growth Rates of the Total Global Aesthetic Laser Device Market and by Segments
Market Size of Product Type, Application, and End User Segments with Historical CAGR and Future Forecasts
Analysis of Global Aesthetic Laser Device Market
Major Production/Supply and Consumption Aesthetic Laser Device/Demand Hubs within Each Region
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Region

Companies Mentioned in the Report

Cynosure, Inc
Aerolase Corp
Lumenis Be Ltd
Sciton
Solta Medical
SharpLight Technologies Ltd
Cutera
Alma Lasers
Candela Corporation
El.En. S.P.A
Rohrer Aesthetics, Inc
Top Engineering sarl
ADVALIGHT
Astanza Laser
Accure
Ra Medical Systems
Quanta System S.P.A
Sanhe Beauty S & T Co., Ltd
Astiland Medical Aesthetics Technology Co., Ltd
G.N.S neoLaser Ltd
Vertex Lasers

For more information about this report visit https://www.researchandmarkets.com/r/5qqsca

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets