USD 2.31 billion
Report ID: SQSG35A2051 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 93 | Figures: 71
Global Cosmetic Laser Market was valued at USD 2.31 billion in 2021, and it is expected to reach a value of USD 6.81 billion by 2028, at a CAGR of more than 16.70% over the forecast period (2022-2028).
The demand for laser is expected to grow rapidly due to the ageing of baby boomers and the prevalence of surplus income among the middle class to spend on cosmetic surgeries. The growing popularity of radiofrequency-based treatments is also driving the cosmetic laser market. Picoway, LaseMD, FraxPro, and Pixel CO2 radiofrequency-based devices are gaining popularity because they are non-invasive and effective in treating a wide range of skin conditions. The PicoWay laser platform from Candela Medical has a high peak power and ultra-short pulse durations for a photoacoustic effect. The platform is used to remove tattoos, rejuvenate and tone the skin, and treat pigmented lesions.
In recent years, there has been an increase in the demand for minimally invasive treatments. When compared to invasive surgeries, such surgeries have advantages such as smaller incisions, faster wound healing, less pain, fewer surgical wounds, and a lower risk of complications. Furthermore, the efficacy and outcomes of currently available minimally invasive surgeries are comparable to conventional surgical treatments. According to the International Society of Aesthetic Plastic Surgery, approximately 1,837,052 hair removal procedures will be performed globally in 2020.
Global Market Size
USD 2.31 billion
more than 16.70% CAGR
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The global cosmetic laser market is segmented based on the type, application, end user and region. Based on the type, it is bifurcated into ablative, and non-ablative. Based on application, it is segmented into hair removal, skin resurfacing, vascular lesions, scar and acne removal, body contouring, and others. Based on end user, it is segmented into hospitals, skin care clinics, and cosmetic surgical centers. Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
The global cosmetic laser market is bifurcated based on type into ablative, and non-ablative. The non-ablative segment is anticipated to hold the largest share in the global cosmetic laser market, since these devices necessitate small incisions on the skin's surface through which a cannula is inserted Through the cannula, laser energy is delivered to the target tissues, resulting in adipocyte coagulation and destruction. Furthermore, laser-assisted devices currently available include Smartlipo by Hologic, Inc., ProLipo PLUS by Sciton, Inc., and others.
Analysis by End User
The global cosmetic laser market is segmented based on end user into hospitals, skin care clinics, and cosmetic surgical centers. cosmetic surgical centers segment is anticipated to hold the largest share in the market. This is due to an increase in individual awareness of self-grooming and getting their bodies in shape. Furthermore, the global rise in obesity contributes to the expansion of the cosmetic laser market. Body contouring devices are also used to tighten loose skin or remove unwanted fat from various parts of the body, including the waist, abdomen, and upper torso. These devices use a variety of mechanisms, including radiofrequency, cry lipolysis, and high-intensity focused ultrasound (HIFU).
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The global cosmetic laser market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region is expected to account for the largest market. A growing number of surgeons in the region, rising consumer spending power, and an increase in research activities in the domain are a few other factors driving market growth in North America. Furthermore, rising adoption of modern technologies and increased efforts to promote non-invasive cosmetic treatments are expected to have an impact on the region's market growth. Moreover, the presence of major key players in this region such as Hologic, Inc., Bausch Health Companies Inc., and Cutera, Inc. It is constantly growing in North America, owing primarily to an increase in the obese population. According to ProCon.org in the United States, the percentage of obese adult population was 36.2%, 29.4% in Canada, and 28.9% in Mexico. Obesity is expected to be especially high in the United States and Mexico, according to the Organization for Economic Cooperation and Development. Furthermore, the easy availability of cosmetic laser, a larger target population, and favourable reimbursement in the healthcare system are expected to fuel the market's growth. The Asia-Pacific cosmetic laser market is expected to grow significantly during the forecast period. This is due to an increase in cosmetic laser promotional activities in this region, which is expected to drive the cosmetic laser market in emerging Asia-Pacific countries.
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Technologically Advanced and Procedure-Specific Cosmetic Laser Systems
Increasing Obesity and the Prevalence of Skin Conditions to Drive Market Growth
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The cosmetic laser market is competitive market. The market is being driven by the introduction of advanced light-based technologies such as infrared, radiofrequency, intense pulsed light (IPL), and light-emitting diode (LED). Primary factors influencing competitiveness include the rapid adoption of advanced devices for better treatment and technological advancements. Furthermore, major players frequently engage in mergers and acquisitions in order to retain market share and diversify product portfolios. As an example, Alma Laser announced the release of ClearSkin PRO, a non-ablative erbium applicator used in skin remodelling and resurfacing, in January 2020. Leading manufacturers are also introducing hand-held, over-the-counter (OTC) cosmetic laser and light devices for home use, which is boosting the market outlook.
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According to our global cosmetic laser market analysis, rising medical tourism and an increase in the number of minimally invasive aesthetic surgical procedures are attributed to Asia Pacific market growth. This, along with Asia Pacific's growing geriatric population and comparatively lower cost of aesthetic procedures, are two of the major factors driving cosmetic procedures in the region and, as a result, propelling the growth of Asia Pacific aesthetic lasers. The geographic presence of key market players in the region, as well as its established business, drives the use of cosmetic lasers in the region, thereby contributing to the growth of the cosmetic laser market.
|Market size value in 2021||USD 2.31 billion|
|Market size value in 2028||USD 6.81 billion|
|Growth Rate||more than 16.70%|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Cosmetic Laser Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Cosmetic Laser Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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