The aesthetic lasers market is growing rapidly in the past few decades.
With rising demand among consumers desiring anti-age treatments with less downtime and technology advancements in the energy-based aesthetic devices market for aesthetic lasers are likely to grow over the forecast period.
The demand for hair reduction and removal is also one of the fastest-growing segments in the aesthetic laser market after skin rejuvenation and skin treatment.
Intense pulse light lasers (IPL) are also one of the most prominent laser techniques employed nowadays for non-invasive rejuvenation such as wrinkles treatment.
Growing preference for non-invasive aesthetic procedures and increasing disposable income are also boosting the market growth. However, the lack of reimbursement is hampering the growth of this market.
The global aesthetic lasers market is segmented based on product type, application, and end-user. By product type, the market is classified into standalone lasers and multiplatform lasers. Among these, standalone lasers accounted for the largest market share in 2019. Standalone lasers are bifurcated into erbium YAG lasers, carbon dioxide (CO2) lasers, diode lasers, Nd: YAG lasers, pulsed dye lasers, alexandrite lasers, and others such as argon, krypton lasers, and erbium: glass lasers. These lasers have several advantages such as ease of use and simplicity of functioning, which has increased their adoption and is estimated to dominate over the forecast period.
Based on application, the aesthetic lasers market is segmented into laser hair removal, vascular lesions, acne, & scars, pigmented lesions & tattoos, laser skin rejuvenation, leg veins & varicose veins, and others. Among these, the hair removal segment is expected to account for the largest share of the market in 2019.
Based on the end-user, the aesthetic lasers market is segmented into hospitals, dermatology clinics, medical spas, and others. Among these, the dermatology clinics segment is expected to grow at the fastest CAGR, owing to the rising number of dermatology clinics and disposable income in emerging economies such as China and India, growing adoption of new technologies, rising preference for noninvasive procedures, and reduced cost for laser-based treatments.
By region, the market is segmented into North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Among these, North America is expected to hold the largest share of the global aesthetic lasers market over the forecast period. In April 2019, Hologic, Inc. (U.S.) had launched the Trident HD Specimen Radiography System in the U.S., Canada, and Europe. The Trident HD system helps in delivering superior image quality, thereby helping to reduce the recalls and streamline workflows during decreasing procedure times. This would help the company to enhance its product portfolio and strengthen its position in the U.S., Canada, and Europe.
The global aesthetic lasers market is dominated by some of the major players. Some of the major players contributing to the growth of the aesthetic lasers market are Allergan Plc., Cutera Palomar Medical Technologies, El. En. SpA, Lumenis Ltd, Sciton, Inc., SharpLight Technologies, Syneron Medical Inc., Solta Medical, among others.
The key players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the aesthetic lasers market globally. For instance,
In August 2020, Medical aesthetic equipment supplier Harley Technologies Ltd partnered with medical aesthetic equipment company Vydence Medical to launch the ETHEREA MX in the UK and Ireland.
In April 2019, Hologic, Inc. (U.S.) has launched the Trident HD Specimen Radiography System in the U.S., Canada, and Europe. The Trident HD system helps in delivering superior image quality thereby helping to reduce the recalls and streamline workflows during decreasing procedure times. This would help the company to enhance its product portfolio and strengthen its position in the U.S., Canada, and Europe.
In January 2018, Cutera, Inc. launched two new products Juliet and Secret RF. Both the products are used in medical aesthetics in which Juliet laser offers a best-in-class alternative to patients for improving sexual function and overall vaginal health. The Secret RF is used to improve mild wrinkles and diminishes scars. With this launch, the company has increased its product portfolio.
In December 2017, Allergan announced the approval of their product CoolSculpting treatment from the FDA, which is a non-invasive fat reduction technology and also used to enhance the skin texture and reduction of submental fat and double chin treatments. The approval of the product ensures the treatment of the customers needing non-invasive treatments for medical aesthetics.
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