Pune, Maharashtra, India, March 24, 2021 (GLOBE NEWSWIRE) -- According to our new research study on “Aesthetic Medical Laser Systems Market to 2027 – Global Analysis and Forecast – by Type, Application and End User,” the Aesthetic Medical Laser Systems Market was valued at US$ 956.87 million in 2019 and is projected to reach US$ 1,961.00 million by 2027; it is expected to grow at a CAGR of 9.6% during 2020–2027. The market growth is mainly attributed to the increase in aesthetic/cosmetic procedures carried out every year and broad medical applications of laser systems. However, high cost of aesthetic medical laser systems is hindering the market growth.
In 2019, North America dominated the aesthetic medical laser systems market. The market growth in this region is attributed to surging number of cosmetic procedures, increasing strategic developments by the market players, and growing medical tourism for aesthetic laser therapies. Due to COVID -19 American Society of Plastic Surgeons (ASPS) in May 2020 released a statement to urge the suspension of elective and non-essential procedures of cosmetic and laser surgeries in the US.
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On the basis of type, the aesthetic medical laser systems market is segmented into standalone lasers and multiplatform lasers. The standalone laser segment accounted for more than 50% of the market in 2019. On the basis of application, the aesthetic medical laser systems market is segmented into hair removal, skin rejuvenation, acne and scars, pigmented lesions, leg and varicose veins, and others. The skin rejuvenations segment is expected to register the highest CAGR in the market during the forecast period owing to large number of manufacturers offering a broader range of skin rejuvenation laser systems. On the basis of end user, the aesthetic medical laser systems market is segmented into clinics, medical spas, hospitals, and others. The clinics segment is anticipated to hold a major share in the market during the forecast period.
Aesthetic Medical Laser Systems Market: Key Insights
Aesthetic medical laser systems are used in unwanted hair removal, acne and scars treatment, skin rejuvenation, pigmented lesion treatment, leg and varicose veins treatment, and so on. Different types of lasers available in market include carbon dioxide (CO2) laser, Er:YAG (Erbium YAG) laser, diode lasers, and pulsed dye lasers. The increasing availability of nonsurgical technologies and new treatment options have made medical aesthetic procedures, such as those involving medical laser systems, more accessible to people, allowing them to live life confidently with improved appearance. Laser procedures are being used to improve skin conditions, modify body parts, and correct physical posture, especially by millennial populations. According to a global survey published by the International Society of Aesthetic Plastic Surgery (ISAPS) in December 2020, cosmetic procedures registered a rise of 7.4% in 2019 compared to 5.6% in 2018. The report also highlighted a 7.1% and 7.6% increase in surgical and nonsurgical procedures, respectively, in 2019. The advantages of minimally invasive procedures performed using aesthetic laser systems over conventional surgical procedures are contributing to the market growth.
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Aesthetic Medical Laser Systems Market: Segmental Overview
In terms of type, the multiplatform lasers segment is expected to register a high CAGR in the aesthetic medical laser systems market during the forecast period. Multiplatform lasers are technically advanced medical systems that enable healthcare professionals to offer different therapies for different indications. In terms of application, the hair removal segment accounted for more than 30% of global aesthetic medical laser systems market in 2019. In terms of end user, the clinics segment is anticipated to hold a major market share during the forecast period.
Aesthetic Medical Laser Systems Market: Competition Landscape and Key Developments
Bausch Health Companies Inc; Sisram Medical Ltd (ALMA LASERS); Sciton, Inc; Lumenis; Candela Medical; Cutera Inc; Cynosure; Aerolase Corp; El.En. S.p.A; and STRATA Skin Sciences are key companies operating in the global aesthetic medical laser systems market. The leading market players are continuously focusing on tapping prevailing business opportunities through the expansion and diversification of their market presence as well as acquisition of new customer base.
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In November 2020, Sciton Inc. announced plans of expansion in the UK and Ireland. This expansion is expected to develop the company's marketing, sales, clinical education, and service offerings through direct operations in Europe.
In October 2020, The Sisram Medical Company launched Alma Hybrid, a pioneer device that exclusively combines 3 powerful energy sources to deliver unique outcomes.
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