This study estimates the market size for 2016 and projects its demand till 2021. Primary and secondary research was used to for market estimation and forecast. Various secondary sources such as directories, industry journals, and databases have been used to identify and collect information useful for this extensive commercial study of the market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess prospects of the market.
Major Growth Drivers:
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.
Expected Revenue Growth:
The global aesthetic lasers market is estimated to grow at a CAGR of 10.2% during the forecast period, to reach USD 1,132.7 Million by 2021.
In this report, the global aesthetic lasers market is segmented on the basis of type, application, end user, and region.
Based on type, the aesthetic/cosmetic lasers type market is segmented into standalone lasers and multiplatform lasers. In this market, multiplatform lasers formed the fastest-growing segment as they provide scalable and upgradeable hybrid systems that can treat multiple indications.
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Based on application, the aesthetic/cosmetic lasers type market is segmented 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 accounted for the largest share of the market due to factors such as high adoption of aesthetic procedures, developments in the laser technology, increased focus on body appearance, and high disposable income.
Based on end user, the aesthetic/cosmetic lasers type market is segmented into hospitals, private clinics, and medical spas. The private clinics segment accounted for the largest share in 2016 owing to the rising number of aesthetic/cosmetic procedures across the globe, increasing awareness about various aesthetic procedures and their benefits, growing preference of the patients for minimal invasive cosmetic surgeries, and growth in the number of private clinics and surgeons providing these 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.
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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.).