The growth of the market is driven by the growing adoption of non-invasive procedures, increasing occurrence of skin damage and increasing usage of oral contraceptives among female.
Market Size – USD 798.4 Million in 2018, Market Growth - CAGR of 10.8%, Market Trends – Aging baby boomers and middle-class surplus earnings to spend on cosmetic surgery.
NEW YORK, May 02, 2019 (GLOBE NEWSWIRE) -- The Aesthetic Lasers Market is forecast to grow from USD 798.4 Million in 2018 to USD 1.93 Billion by 2026, at a CAGR of 10.8% during the forecast period. The market is primarily driven by increased global warming resulting in severe skin damage and sunburn, increased use of oral contraceptives among women, and phototoxic drug use.
Technology advancement has enabled needle-free procedures, thereby boosting the rate of laser treatment adoption. As a preventive measure, young people also opt for cosmetic procedures and slow down the aging process.
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Strict regulations are projected for cosmetic laser products to ensure increased device efficiency while treating the skin without adverse effects. In addition to the radiation safety performance standards defined by the Federal Regulations, laser device manufacturers must comply with the Federal Food, Drug, and Cosmetic Act. The increasing adoption of energy-based devices and market player’s low focus on aesthetic devices restrict this market's growth.
In 2018, total cosmetic surgery expenditure was USD 13.22 Billion. There has been an increase of 43% in male participation over 5 years. This presents key companies in the market with an attractive opportunity to target men for non-operative cosmetic surgery.
Further key findings from the report suggest
- The Aesthetic Lasers Market is forecasted to grow from USD 798.4 Million in 2018 to USD 1.93 Billion by 2026, at a CAGR of 10.8% during the forecast period. The market is primarily driven by increased global warming resulting in severe skin damage and sunburn, increased use of oral contraceptives among women, and phototoxic drug use.
- The market for laser hair removal is expected to grow the largest at USD 502.3 Million in 2026, at a CAGR of 11.3% during the forecast period. Growing esthetic awareness and changing concepts of beauty are the main drivers of this segment's growth. Conventional hair removal techniques are time-consuming and in the current fast-moving lifestyle they are not feasible. Laser hair removal provides customers with a permanent solution, increasing their popularity.
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- The market for private clinics is expected to grow the largest at USD 801.7 Million in 2026, at a CAGR of 11.3% during the forecast period. This is mainly attributed to increasing awareness of various esthetic procedures and their benefits, increasing patient preference for minimally invasive cosmetic surgery, increasing the number of private clinics and surgeons providing these treatments, and increasing number of aesthetic procedures globally.
- The market for North America is expected to grow the largest and reach USD 695.5 Million in 2026, at a CAGR of 11.2% during the forecast period. It is due to the early acceptance of laser technology and increased awareness of lasers and their effectiveness in the treatment of all skin types.
- The major players in the market are Lumibird (France), IPG Photonics (US), Coherent (US), Lumentum (US), Epilog Laser (US), Jenoptik (US), Novanta (US), Trumpf (Germany), LaserStar (US), MKS Instruments (US) and others.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, application, cooling mechanism, end user and regional analysis.
Type (Revenue, USD Million; 2016-2026)
- Multiplatform Laser Devices
- Standalone Laser Devices
-
- Alexandrite Lasers
- Carbon Dioxide (Co2) Laser
- Diode Lasers
- Er:YAG (Erbium YAG) Laser
- Neodymium:Yttrium-Aluminum-Garnet (Nd:YAG) Laser
- Pulsed Dye Lasers (PDL)
- Others
Application (Revenue, USD Million; 2016-2026)
- IPL Laser Treatment
- Laser Skin Resurfacing
- Noninvasive Tightening
- Laser-Assisted Lipoplasty
- Laser Hair Removal
End User (Revenue, USD Million; 2016-2026)
- Hospitals
- Private Surgery Centers/Clinics
- Medical Spas & Centers
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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