Cosmetic Laser Market Size, Share, Growth Analysis, By Type(Ablative, Non-Ablative), By Application(Hair Removal, Skin Resurfacing, Vascular Lesions, Scar), By End User(Hospitals, Skin Care Clinics, Cosmetic Surgical Centers), By Region - Industry Forecast 2024-2031

Cosmetic Laser Market size was valued at USD 1.99 billion in 2019 and is poised to grow from USD 2.42 billion in 2023 to USD 13.18 billion by 2031, growing at a CAGR of 21% in the forecast period (2024-2031).

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. 'Alma Laser', 'Cynosure,', 'Sciton', 'Cutera', 'El.En. S.p.A.', 'Fotona d.o.o.', 'Hologic, Inc.', 'Lumenis', 'Sharplight Technologies Ltd.', 'Syneron Medical Ltd.', 'Aerolase Corp.', 'Bausch Health Companies, Inc.', 'Biolitec AG', 'Candela Corporation (Syneron Candela)', 'Deka Laser Technologies', 'Energist Ltd.', 'Erchonia Corporation', 'Iridex Corporation', 'Quanta System S.p.A.', 'Solta Medical (Valeant Pharmaceuticals)'

The introduction of technologically advanced and procedure-specific cosmetic laser systems is primarily attracting females to undergo aesthetic procedures such as acne reduction, hair removal, and so on. Rising demand for procedure-specific laser treatments is influencing key market players to launch novel energy-based cosmetic laser systems in the market, driving the growth of the cosmetic laser market during the forecast period. One of the factors influencing people to seek out minimally invasive cosmetic laser procedures such as hair removal, acne reduction, skin tightening, and others is the increasing value placed on physical appearance. This factor is expected to increase the demand for cosmetic laser, boosting market growth.

One of the major factors driving the growth of the cosmetic laser market is an increase in the number of skin problems. Expansion in the cosmetic industry and increased population awareness about physical appearance are two factors that are expected to drive demand for procedure-specific cosmetic laser. The number of people undergoing minimally invasive cosmetic procedures is expected to rise as a result of this. One of the primary factors driving the demand for cosmetic laser in specialty clinics is this.

The 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.