The surging geriatric population, escalating preference of aesthetic procedures, growing awareness about cosmetic procedures through seminars and conferences, and advantages of laser-based aesthetic devices, rising disposable income, inflation of medical tourism industry, and increasing technological advancements are the major growth drivers for the global professional aesthetic lasers market. As a result of these factors, the industry is projected to generate $3,387.4 million revenue by 2030, advancing at a CAGR of 10.3% during the forecast period (2021–2030).
Due to the COVID-19 pandemic, the manufacturing industry across the world is facing challenges, owing to the availability of smaller workforce and government mandates for lockdowns. In the present scenario, the process of lockdown lifting has been initiated in phases, and in some countries, it has been completely lifted. Quite evidently, manufacturers across the world, including those of aesthetic laser systems, have been negatively impacted by the economic crisis triggered by the pandemic.
On the basis of laser type, the professional aesthetic lasers market is categorized into alexandrite, neodymium-doped yttrium aluminum garnet (Nd:YAG), carbon dioxide (CO2), erbium-doped yttrium aluminum garnet (Er:YAG), diode, pulsed dye laser (PDL), and others. Among these, during the forecast period, the CO2 lasers category is expected to witness the fastest growth in the foreseeable future. This can be ascribed to the fact that the preference of CO2 lasers over other types of lasers is increasing, due to their higher penetration power in the skin and offer better results. Thus, these are highly used for skin rejuvenation and pigmentation treatments.
Furthermore, on the basis of application, the professional aesthetic lasers market is categorized into skin rejuvenation, hair removal, pigmentation, vascular lesions, tattoo removal, and others. Out of these, the skin rejuvenation category is dominating over the other categories in the industry. This is primarily due to the increased demand for professional aesthetic lasers for the treatment of wrinkles, scars, fine lines, enlarged pores, rough texture, and dull tone, among the aging population, and further, help in providing a youthful glow.
Geographically, North America accounted for the largest share in the professional aesthetic lasers market in 2020. This is mainly attributed to the rising awareness of aesthetic treatments and availability of advanced aesthetic laser systems. Whereas, the APAC market is expected to observe the fastest growth during the forecast period, owing to the rising demand for primary applications of aesthetic lasers that includes skin rejuvenation, hair removal, medical spas, vascular lesions, and tattoo removal.
The global professional aesthetic lasers market is fragmented in nature with the presence of several major players in the industry, which have been involved in product launches to strengthen their business. For instance, in August 2020, Cutera Inc. launched its Fraxis PRO progressive dermal remodeling technology, which is used for leveling up traditional skin revitalization by uniquely combining two clinically proven technologies – fractional CO2 for skin resurfacing and radiofrequency microneedling for total dermal remodeling – in a single device. Moreover, Fraxis PRO can be used to treat number of skin conditions, by layering CO2 laser energy with radiofrequency microneedling, including fine lines, wrinkles, acne scars, burn scars, and stretch marks.
Similarly, in March 2020, Lumenis Ltd. announced the launch of Stellar M22, which is based on the Lumenis’ original M22 and is designed to treat all kinds of skin conditions, including vascular lesions, in addition to facilitating skin texture improvement and hair removal.
Some of the major players operating in the professional aesthetic lasers market are Alma Lasers Ltd., Lumenis Ltd., Syneron Medical Ltd., Cutera Inc., Sciton Inc., EL.EN. S.p.A, Laseroptek Co. Ltd., Fotona D.o.o., Imdad LLC, Hologic Inc., Lutronic Corp., Jeisys Medical Inc., Laser Aesthetics SA, Bausch Health Companies Inc., Venus Concept Ltd., and Bluecore Company.