Global Aesthetic Laser Market is expected to grow at a CAGR of 10.5% during the forecast period 2022-2030


aesthetic laser market is expected to grow at a CAGR of 10.5% during forecast period 2022-2030. The global aesthetic laser market is primarily driven by the adoption of non-surgical aesthetic procedures (Hair Removal, Skin Tightening and others). Growing geriatric population further drives the aesthetic laser market. As with the aging, skin’s fragility increases due to the thinning of the epidermis. Hence, with the increasing age of people, the probability of aesthetic treatments also increases boosting the demand for laser treatments. According to National Institute of Health (United states), 8.5% of total worldwide population (617 million) were aged 65 and above in 2015. Further, these figures are projected to reach about 1.6 billion by the end of 2050.

The global aesthetic laser market has been segmented on the basis of type, application, end user. The application segment is further sub segmented into hair removal, skin rejuvenation, vascular lesions, pigmented lesion & Tattoo removal and others. Hair removal leads the application segment in terms of revenue in the global aesthetic laser market with around 28.10% market share in 2021. The high adoption of aesthetic lasers for hair removal is due to the fact that laser hair removal provides a long-term solution for hair removal compared to traditional methods of hair removal (waxing, tweezing and shaving) furthermore laser hair removal also aids to prevent and eliminate ingrown hairs.

Private clinics dominates the end user segment of global aesthetic laser market by capturing largest market share of over 36% in 2021 and is expected to grow at a CAGR of 10.8% during forecast period. The private clinics provides several aesthetic procedures using aesthetic laser that includes skin rejuvenation/resurfacing, anti-aging treatment, hair removal, vascular/pigmented lesion and tattoo removal along with other cosmetic dermatology treatments. Private clinics offer better treatments as they use more advanced equipment and have skilled staff to provide better quality services to the patients hence are the most preferred destination for aesthetics treatments.

Multiplatform laser market is expected to have a CAGR of 11.2% in the forecast period. The multiplatform lasers offer scalable and upgradeable hybrid systems that are flexible and versatile solution encompassing capabilities of several standalone laser systems into a single package. The ability of these systems to cater to single indication or provide treatment addressing multiple elements act as primary driver for the growth of multiplatform laser systems. Further, the introduction and use of this highly advanced multiplatform aesthetic laser is expected to boost the global aesthetic laser market by multiplatform laser segment.

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Geographically, the global aesthetic laser market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). North America leads the global Aesthetic laser market by capturing largest market share in terms of revenue of around 32.17% in 2021. The aesthetic laser market in North America is driven primarily due to high disposable income per capita of the region coupled with high demand for non-invasive cosmetic surgeries in the countries of North America region. High disposable income affirms a promising customer base for cosmetic surgeries thereby driving the demand for aesthetic lasers. Asia Pacific is anticipated to be the fastest growing region with a CAGR of 11.2% during the forecast period. The growth rate of Asia Pacific aesthetic laser market is attributed due to the increasing geriatric population that would strive towards the adoption of laser treatment. for instance, aging population in Asia Pacific are rapidly rising, as per the United States Census Bureau. in addition, elderly population in Asia Pacific was 8% of the total population (373 million) in 2016 and is expected to increase by 12% by 2030.

Product launch is the primary strategy adopted by companies in global aesthetic laser market. New and advanced products help to improve company’s market visibility while competing effectively with key competitors in the market.Partnership and collaboration is the secondary strategy adopted by companies in global aesthetic laser market.The intensity of competitive rivalry in global aesthetic laser market is expected to remain at high during the forecast period. The aesthetic laser market is highly competitive with the presence of significant number of players, such as Lumenis Ltd. (Israel), Sharplight Technologies Inc. (Israel), Alma Lasers (U.S.), Syneron Medical Limited (Israel), Cynosure Inc. (U.S.) and others. Companies are trying to compete with each other by providing the same characteristics and similar price or by similar features at competitive prices for products in global aesthetic laser market. Moreover, the operating companies in aesthetic laser market are engaged in improving the quality of product by using high quality electronic parts, adoption of new technologies and joining hand with other companies.

KEY MARKET MOVEMENTS

  • Global aesthetic laser market is expected to grow at a CAGR of 10.5% during forecast period 2022-2030.
  • Hair removal leads the application segment in terms of revenue in the global aesthetic laser market with around 28.10% market share in 2021.
  • Multiplatform laser market is expected to have a CAGR of 11.2% in the forecast period.
  • North America leads the global Aesthetic laser market by capturing largest market share in terms of revenue of around 32.17% in 2021.
  • Asia Pacific is anticipated to be the fastest growing region with a CAGR of 11.2% during the forecast period.
  • Product launch is the primary strategy adopted by companies in global aesthetic laser market.
  • The aesthetic laser market is highly competitive with the presence of significant number of players, such as Lumenis Ltd. (Israel), Sharplight Technologies Inc. (Israel), Alma Lasers (U.S.), Syneron Medical Limited (Israel), Cynosure Inc. (U.S.) and others.

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