Increasing preference for noninvasive cosmetic procedures, increasing disposable income, technological advancements, and rising medical tourism are the major drivers of the aesthetic lasers market. However, lack of reimbursement will restrain the growth of this market.
The aesthetic lasers 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.
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The aesthetic lasers market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is segmented into standalone lasers and multiplatform lasers. Standalone lasers are further segmented into carbon dioxide (CO2) lasers, erbium YAG lasers, diode lasers, pulsed dye lasers, Nd:YAG lasers, alexandrite lasers, other standalone lasers (argon, ruby, krypton lasers, and erbium:glass lasers). Standalone lasers have advantages such as simplicity of functioning and ease of use which has significantly boosted their adoption and accounts for the highest market share of the aesthetic lasers market in 2016.
On the basis of application, the market is segmented into vascular lesions, acne, & scars, pigmented lesions & tattoos, hair removal, skin rejuvenation, leg veins & varicose veins, and other applications (onychomycosis and gynaecological conditions). The hair removal segment is expected to account for the largest share of the market in 2016.
On the basis of end user, the cosmetic lasers market is segmented into hospitals, private clinics, and medical spas. The private clinics segment is projected to grow at the highest CAGR, primarily due to the increasing number of clinics and disposable income in emerging economies such as China and India, adoption of new technologies, increasing preference for noninvasive procedures, and reduced cost for laser based treatments.
The market is segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Among these regional segments, North America is expected to account for the largest share of the global aesthetic lasers market. However, the Asia-pacific is expected to grow at the highest CAGR during the forecast period. The high growth in this regional segment can be attributed to factors changing lifestyles, rising incidences of skin damage, and increasing medical tourism in the region will drive the growth of this market.
Major players in the cosmetic lasers market include Aerolase (U.S.), Alma Lasers, Ltd. (Israel), Cutera, Inc. (U.S.), Cynosure, Inc. (U.S.), El.En. SpA (Italy), Lumenis Ltd. (Israel), Sciton, Inc. (U.S.), SharpLight Technologies (Israel), Syneron Medical Inc. (Israel), and Solta Medical (U.S.).
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Syneron Medical, Inc. (U.S.), a global aesthetic/cosmetic lasers products providing company, offers solutions for a range of medical-aesthetic applications such as skin rejuvenation, skin resurfacing and wrinkle reduction, vascular lesions, tattoo removal, removal of benign pigmented lesions, acne and scars, and treatment of varicose veins. To maintain its strong position in the market, the company focuses on growth strategies such as product approvals, new product launches, and acquisitions.
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