Cosmetic Laser Market Size, Share, Development, Growth and Demand Forecast to 2024

  • Publishing: May 2021
  • Report Code: LS10771
  • Available Format: PDF

The global cosmetic or aesthetic laser market is witnessing considerable growth due to increasing geriatric population, increasing healthcare expenditure and growing awareness about noninvasive cosmetic procedures. Moreover, increase in innovative product launches and growth of medical tourism across the globe is supporting the growth of the market. Based on product type, standalone lasers segment lead the global cosmetic lasers market owing to its ease of use. The increasing adoption of aesthetic treatments and increasing demand of non-invasive cosmetic procedures is driving the growth of this market. Based on application, the hair removal segment lead the global market due to increase cases of PCOD/PCOS and hirsutism leading to unwanted hair growth across the globe. Based on end user, the beauty clinics segmented is expected to grow at a faster rate during the forecast period, owing to increase in the number of beauty/private clinics globally.

The rapid growth in emerging economies and technological advancement is expected to create revenue generation opportunities for the manufacturers of cosmetic lasers. However, high cost and stringent regulatory requirements for aesthetic procedures are the key factors hampering the growth of the global market. Cosmetic laser is used in hospitals, medical spas and salons, and beauty clinics across the globe to improve the appearance of a person. It is used for removing unwanted hairs, skin rejuvenation, treating acne, scars, wrinkles, pigmented lesion, removing tattoo and treating varicose vein.

Geographically, North America has been the largest market for cosmetic laser, owing to increased awareness, and easy accessibility to advanced technologies. Moreover, increasing prevalence of skin problems including acne, pigmentation and scarring drives the market growth. Acne is the most common dermatological condition that is caused by clogging of hair follicles by sebum, dirt, and dead skin cells. Acne affects majority of the world population and leads to scaring. According to the American Academy of Dermatology, approximately 85% Americans suffer from acne at some phase in their lives. The U.S. contributed largest revenue to the North American as well as global cosmetic laser market. The presence of large number of medical spas and salons and beauty clinics coupled with presence of skilled people is the key driving factor of the U.S. cosmetic laser market.

Europe has been the second largest market for cosmetic laser, where the market is driven by the increasing demand for dermal fillers, increasing healthcare expenditure, increasing awareness about the advantageous features of cosmetic procedures and launch of novel aesthetic products. In 2015, Germany lead the European cosmetic laser market and it is also expected to grow at the fastest rate in Europe, during forecast period. Globally, the cosmetic laser market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing inclination towards non-invasive procedures and increasing aging population. In elderly population, the appearance and characteristics of the skin gets altered, leading to wrinkles, dryness, pigmentary alteration, and sagging of skin. The anti-aging products and devices help in reducing skin aging, thus giving younger look to a person by revitalizing and tightening the skin; hence, fueling the demand of cosmetic lasers. In addition, increasing per capita income leading to improved standard of living, increasing disposable income, growing demand for better quality medical care, and awareness about cosmetic procedures drives the market growth in the region.

The key players operating in the global cosmetic laser market are Actavis PLC, Syneron Medical Ltd., Valeant Pharmaceuticals International Inc., Cynosure Inc., Johnson & Johnson, Zeltiq Aesthetics Inc., Merz Pharma GmbH & Co. KGaA, Nestlé S.A, Lumenis Ltd. and Photomedex Inc.

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