Visiongain has published a new report on Aesthetic Lasers and Energy Devices Market Report to 2031: Forecasts By Technology (Laser Based Technology, Light Based Technology, Energy Based Technology, UV Technology, Infrared Technology, Radiofrequency Technology , Low Temperature-Based Technology, and Suction Based Technology), By Product (Laser Resurfacing Devices, Body Contouring Devices, and Aesthetic Ophthalmology Devices), By Application (Hair Removal, Scar Removal/Skin Resurfacing, Skin Rejuvenation, Skin Tightening, and Others), By End-User (Multi-Specialty Centers, Stand-Alone Centers, and Cosmetic Surgery Centers/Clinics) PLUS COVID-19 Recovery Scenarios.
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COVID-19 Impact on Aesthetic Lasers and Energy Devices Market
The COVID-19 pandemic has deleteriously affected all the countries and industries. Similarly, the aesthetic lasers and energy devices market is anticipated to take a hit. The target industry is now facing challenges to manage the interrupted demand and supply of components. Also, unpredictable and disturbing supply chain activities and the unavailability of human resources are anticipated to impact the target industry growth. Hence, the overall COVID-19 impact is expected to continue to moderate for the global key players operating in the industry.
Market Drivers
Growing Acceptance of Energy-based Cosmetic/Aesthetic Devices
The growing significance of physical looks is the key factor persuading people to shift towards minimally invasive aesthetic treatments, such as skin tightening, facial wrinkles, acne scars, hair removal, and other skin blemishes, etc. In turn, it is likely to rise the need for aesthetic lasers and energy devices therefore fueling the target industry growth.
The launch of the high-tech-driven procedure and advanced aesthetic laser systems is gaining traction among the woman predominantly to undergo aesthetic treatments, such as hair removal, acne reduction, etc. The growing demand for laser treatments is impelling global key players to launch robust and novel energy-based aesthetic laser devices in the market and eventually boosting the aesthetic lasers and energy devices market in the given time frame.
For instance, in April 2019, Lumenis Ltd. introduced its Legend Pro+ platform, an exclusive multi-use platform with complementary technologies. On 29th July 2019, U.S. Food and Drug Administration (FDA) approved Cynosure’s two products TempSure® and SculpSure®. These products will aid the company to grow its product portfolio of innovative aesthetic treatments.
Growing Obese Population and Incidence of Skin Conditions to Fuel the Target Industry Growth
The growing obesity among people owing to inactive lifestyles in developed and developing nations is persuading people to undergo body reformation treatments. The minimally invasive and rapid action of lasers is grasping the patient’s considerations to undergo numerous cosmetic procedures. This is one of the major reasons that are projected to boost the demand for aesthetic lasers and energy devices. According to the CDC, in the U.S., nearly 93.3 million (estimated 38.9%) people suffered from obesity in 2015-2016.
The increasing occurrence of skin diseases such as rosacea has led to the use of aesthetic/cosmetic lasers for treatment. In turn, it is expected to demand minimally invasive energy-based aesthetic lasers devices. According to the British Journal of Dermatology, states that people with rosacea were around 5.46% in the overall population and around 2.39% among dermatology patients worldwide.
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The Growing Potential of Developing Economies
Developing nations such as China, India offers lucrative opportunities for the global key players operating in the target industry. The countries have immense growth potential due to growing disposable income, changing lifestyles, and rising concern regarding appearance. In India, the target industry is recording speedy growth, mostly across the megacities of the country. The growing acceptance of innovative technologies among the population is further pushing the Indian aesthetic lasers and energy devices market. The additional highly influential factors such as the high competition, arrival of new business, and funding from the local players and the foreign players looking for a large population base.
Competitive Landscape
Major players in the global Aesthetic Lasers and Energy Devices market are Bausch Health Companies Inc., Allergan plc, Energist Medical Group, Candela Medical, Hologic, Inc., Lumenis, Ltd., Fotona, Inc. Sciton, Inc., Sisram Medical Ltd., and Lutronic, Inc.
The key players have adopted new product development, product launches, product approval, agreement, partnerships, and merger as its key business development strategies to tap into the global Aesthetic/Cosmetic Lasers market. For instance, on 17th August 2020, Lumenis Ltd. introduced its newest invention, the NuEra Tight with FocalRF technology. The platform is custom-made for non-invasive RF body treatments and distinctive to every patient.
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