According to a new market research report “Aesthetic/Cosmetic Lasers Market by Type (Standalone (CO2, Er:YAG, Diode, Nd:YAG, Alexandrite, Pulsed-Dye), Multiplatform), by Application (Acne, Scars, Tattoo Removal, Varicose Veins), by End User (Hospitals, Medical Spa, Private clinics) – Forecasts to 2021” published by MarketsandMarkets, The global market is projected to reach USD 1,132.7 Million by 2021 from USD 697.6 Million in 2016, growing at a CAGR of 10.2% during the forecast period.
Growing adoption of noninvasive procedures, changing lifestyles, rising incidence of skin damage, reduction in procedural costs, and rise in medical tourism devices are the major factors driving the growth of the aesthetic lasers market. However, the rising adoption of energy-based devices and low focus of market players on aesthetic/cosmetic devices are restraining the growth of this market.
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This report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Aesthetic/Cosmetic Lasers Market along with the estimates and forecasts of the revenue. Growth in the adoption of non-invasive cosmetic procedures, changing lifestyle and increasing disposable income, advancements in technology, and rising medical tourism are the major drivers of the Aesthetic/Cosmetic Lasers Market. However, lack of reimbursement will restrain the growth of this market.
The Aesthetic/Cosmetic Lasers Market is segmented on the basis of type, application, end user, and region. Based on type, the aesthetic/cosmetic lasers type market is categorized into standalone lasers and multiplatform lasers. In this market, multiplatform lasers form the fastest-growing segment as they provide scalable and upgradeable hybrid systems that can treat multiple indications. Furthermore, the standalone lasers market is divided into carbon dioxide (CO2) lasers, Er:YAG lasers, diode lasers, pulsed dye lasers, nd:YAG lasers, alexandrite lasers, and other standalone lasers (argon, ruby, krypton lasers, and erbium:glass lasers).
Based on application, the aesthetic/cosmetic lasers type market is categorized into vascular lesions, acne, & scars, pigmented lesions & tattoos, hair removal, skin rejuvenation, leg veins & varicose veins, and other applications (onychomycosis and gynecological conditions). The hair removal segment is expected to account for the largest share of the Aesthetic/Cosmetic Lasers Market in 2016. Factors such higher adoption of aesthetic procedures, development in the laser technology, increased focus on body appearance by both men and women, high disposable income are driving the growth of this segment in the market.
Based on end user, the aesthetic/cosmetic lasers type market is categorized into hospitals, private clinics, and medical spas. The private clinics segment is estimated to account for the highest growth of the market in 2016, due to factors such as increasing demand for cosmetic procedures from baby boomer population, adoption of new technologies, increasing preference for noninvasive procedures, reduced cost for laser based treatments, and higher disposable income in emerging economies.
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North America is expected to account for the largest share of the Aesthetic/Cosmetic Lasers Market in 2016. The Asia-Pacific region accounted for the second-largest share of the Aesthetic/Cosmetic Lasers Market; in this region the availability of R&D funds has encouraged the Aesthetic/Cosmetic Lasers Market. The Asia-Pacific region is estimated to be the fastest growing region in the Aesthetic/Cosmetic Lasers Market during the forecast period owing to changing lifestyles, rising incidences of skin damage, and increasing medical tourism.
Major players in the Aesthetic/Cosmetic Lasers Market include are Aerolase (U.S.), Alma Lasers (Israel), Cutera, Inc. (U.S.), Cynosure (U.S.), El.En. SpA (Italy), Lumenis Ltd. (Israel), Sciton Inc. (U.S.), SharpLight Technologies (Israel), Syneron Medical Ltd. (Israel), and Solta Medical (U.S.).
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