- Expansion in medical tourism in Asia Pacific and Latin America make these regions highly lucrative, Asia Pacific market to clock impressive CAGR on back of cosmetics industry
- Dermatology clinics are the key end user in cosmetics lasers market in 2017 due to presence of advanced facilities, North America led the global market
ALBANY, N.Y, Nov. 9, 2020 /PRNewswire/ -- A range of aesthetics procedures are accomplished by lasers such as hair removal, tattoo removal, wrinkles, acne and scar removal, and skin rejuvenation with promising clinical outcomes. Some of the key technologies used are Q-Switched, intense pulse light (IPL), infrared lasers, and high-power optically pumped semiconductor (HOPSL) lasers.
The growing attractiveness of laser technology for the treatment of scar and acne removal is a key avenue for players in the cosmetics lasers market.
A steady drive in the cosmetic laser market has come from the strides being made by the medical tourism industry. This has made accessible high technological and clinical expertise at relatively lower cost to the target population. Emerging economies of Asia Pacific and Latin America have witnessed rapidly growing revenue streams due to this.
The cosmetic lasers market stood at US$ 1,455.1 Mn in 2017 and is projected to garner a CAGR of 13.7% from 2018 to 2026.
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Key Findings of Cosmetic Lasers Market Report
- By 2026, the market is projected to reach worth of US$ 4,553.0 Mn.
- Dermatology clinics held the major market share in 2018 among the various end users
- Of the various key applications, scar & acne removal projected to expand at high CAGR during 2018 – 2026
- The aforementioned segment was valued at US$ 570.7 Mn in 2017
- Of the various modalities, multiplatform is the most attractive one
- Geographically, North America was the leading market in 2017
- Asia Pacific market projected to expand at robust CAGR during 2018 - 2026
Explore 175 pages of top-notch research, incisive insights, and detailed country-level projections on Cosmetic Lasers Market (Product - Nd:YAG, Diode, Carbon Dioxide, Er:YAG, Pulse-dyed Lasers (PDL); Modality - Standalone, Multiplatform; Application - Hair Removal, Skin Resurfacing, Vascular Lesions, Scar and Acne Removal, Body Contouring; End user - Hospitals, Dermatology Clinics, Medical Spas) Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026 at https://www.transparencymarketresearch.com/report-toc/53928
Cosmetic Lasers Market: Key Driving Factors and Promising Avenues
- Burgeoning medical tourism in various parts of the world, especially in emerging economies, is a key driver for the cosmetics lasers market. India, Opportunities in the market are prominently growing in Thailand, Brazil, Mexico, and Turkey.
- Rise in adoption of advanced, non-invasive technologies in various aesthetic procedures is a key driver for demand in the cosmetic lasers market.
- A robust momentum to the cosmetics lasers market has come from strides made in cosmetic industry, which has been witnessing a good momentum from the growing proclivity of people to spend on aesthetic procedures.
- The growing affordability of advanced treatments such as for acne and scare removal is also bolstering the demand in the market.
- Rise in adoption in multiplatform in the cosmetic laser market in dermatology clinics in developed and developing regions is a key trend boosting the cosmetic lasers market.
- Rise in demand for laser skin resurfacing is propelling new avenues in the market.
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Cosmetic Lasers Market: Key Impediments
Stringent safety regulations have slowed down the steady adoption of new technology in the cosmetic procedures. Also, aesthetic lasers are a heavily regulated medical technology in the U.S. Manufacturers must comply with numerous regulations to make their laser device safe. Further, there is a lack of awareness about the safety and efficacy of aesthetic procedures, thereby impeding the creation of new avenues in the cosmetic lasers market.
On the other hand, prominent device makers who seek high stakes in the cosmetic laser market are leaning on launching new technologies that promises higher medical outcomes. Some of the key players in the cosmetic lasers market are Shanghai Fosun Pharmaceutical, Cutera, Lumenis, Syneron Medical Ltd., Apax Partners, and Hologic Inc. To this end, they resort to mergers and acquisitions.
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The Cosmetic Lasers Market is segmented based on:
- Carbon Dioxide
- Pulse Dyed-laser (PDL)
- Hair Removal
- Skin Resurfacing
- Vascular Lesions
- Scar & Acne Removal
- Body Contouring
- Dermatology Clinics
- Medical Spas
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Anti-aging Market: The global anti-aging market for anti-wrinkle products is driven by increase in consumer consciousness and surge in awareness about aging signs among the younger generation. Moreover, increase in the geriatric population and rise in expenditure on cosmetics used to reduce wrinkles and fine lines in emerging countries are factors contributing to the growth of the global market.
Medical Laser Systems Market: The global medical laser systems market is expected to grow at an impressive CAGR of ~12% during the forecast period. The market growth is largely driven by advancements in laser technology, strides taken by photonics in the past decade, a growing number of research activities, and collaborations between medical and research institutes.
Medical Aesthetic Devices Market: The global medical aesthetic devices market is likely to be driven by the increased adoption of minimally invasive procedures, awareness toward cosmetic procedures, and rising number of obese people in the world. In addition, technological progress in the medical field is likely to drive the demand for medical aesthetic procedures in the years to come.
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