Summary

The Aesthetic Lasers Market is projected to grow at a CAGR of 7.5% over forecast period (2021-2026).

COVID-19 has highly impacted the aesthetic market worldwide. However, the situation is gradually improving. According to a survey by Hamilton Fraser Cosmetic Insurance, conducted in March 2020, with 1,360 cosmetic practitioners in the United Kingdom to assess the impact of the pandemic on cosmetic procedures, stated that 99.78% of practitioners revealed that their practice had been affected during the current pandemic. However, the situation is improving.

Aesthetic lasers market is driven by Increasing demand for non-invasive aesthetic procedures, growing technological advancements, changing lifestyle and growing disposable income.

The trend of looking better and fit has grown over the span of time, and there is rising awareness regarding the potential benefits of cosmetic surgery, and people are inclining themselves toward the use of minimally invasive or non-invasive cosmetic surgery procedures. Lasers are gaining significant attention in the aesthetic devices industry, as there are plenty of procedures that can be performed using lasers. Some of the widely known and performed laser procedures include laser resurfacing, laser hair removal, vascular and pigmented lesions, etc. According to American Society of Plastic Surgeons (ASPS) 2020 report, it was reported that 757,808 of Laser hair removal surgeries, 997,245 of Laser skin resurfacing surgeries and 168,682 of Laser treatment of leg veins surgeries were performed in the United States. However, high cost of the aesthetic lasers and stringent safety regulations for aesthetic procedure are acting as the restraints for the market globally. According to the 2020 estimates of the American Society of Plastic Surgeons, the average cost of laser skin resurfacing is USD 2,509 for ablative and USD 1,445 for non-ablative. The increasing inclination toward minimally invasive or non-invasive cosmetic surgery procedures is expected to drive the aesthetic laser market growth, during the forecast period.

Key Market Trends

Hair Removal Segment Holds Significant Market Share and is Expected to Continue the Same Trend Over the Forecast Period

Laser hair removal is one of the highly popular aesthetic procedures. The intense pulsed light (IPL) and laser devices are widely accepted and effective dermatology procedures for unwanted hair removal and treatment of a variety of cutaneous conditions. Neodymium-doped yttrium aluminum garnet (Nd:YAG) has the least overall hair removal efficiency whereas the alexandrite and diode lasers are extensively used. But because of the longer wavelength, the Nd:YAG is highly used for the pigmented skin.

As per the American Society of Plastic Surgeons report, in 2020, around 757,808 laser hair removal procudures were performed in the United States. The report also stated that the national average surgeon/physician fee is around USD 389 in the United States for laser hair removal. A total expenditure of USD 294,497,562 was spent on the laser hair removal treatments in the United States, in 2020.

Furthermore, In 2018, Lumenis Ltd launched SPLENDOR X, the first solid state laser system equipped with the unique BLEND X technology, for fast and effective hair removal and skin solutions. Hence, owing to the aforementioned factors, the hair removal segment is expected to grow significantly during the forecast period.

North America is Expected to Dominate the Aesthetic Lasers Market in the Forecast period

North America is Expected to Dominate the Aesthetic Lasers Market in the Forecast period. Growth is attributed to the presence of key market players and the increasing number of aesthetic laser procedures, coupled with the high adoption of minimally invasive devices, in the region.

According to American Society of Plastic Surgeons report 2018, the laser skin resurfacing procedures were increased from 587,903 in 2017 to 594,266 in 2018. Moreover, the other laser resurfacing procedures such as tattoo removal, vascular lesions and hair removal are increasing demand.​

Furthermore, owing to the increasing demand, market players are focusing on new product developments and launches to expand their market share in the country. For instance, in July 2019, Cynosure has lunched two new products that expand the Company’s growing portfolio TempSure Firm handpiece and a petite mask for SculpSure submental treatments. The TempSure Firm handpiece is the latest addition to the TempSure platform. It delivers monopolar radiofrequency energy through unique massage heads to gently heat tissue and Hence, the market for aesthetic lasers in United states is projected to have significant market growth over forecast period.​

Competitive Landscape

Some of the major players in the global Aesthetic Lasers market growth are Alma Lasers, Candela Medical, Cutera, Cynosure, IRIDEX Corp., Jeisys Corporation, Lumenis, Sciton, Inc. etc. Aesthetic Lasers have revolutionized the beauty industry, providing significant results with minimal invasiveness. n October 2018, Lumenis Ltd launched, SPLENDOR X, the first solid state laser system equipped with the unique BLEND X technology, for fast and effective hair removal and skin solutions.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Demand for Non-Invasive Aesthetic Procedures
4.2.2 Growing Technological Advancements
4.2.3 Changing Lifestyle and Growing Disposable Income
4.3 Market Restraints
4.3.1 Social Stigma Associated With Cosmetic Treatments
4.3.2 High Cost of the Procedures
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Ablative Laser
5.1.1.1 Carbon Dioxide Laser (CO2)
5.1.1.2 Erbium Laser
5.1.2 Non-Ablative Laser
5.1.2.1 Pulsed-Dye Laser (PDL)
5.1.2.2 Nd:Yag Laser
5.1.2.3 Alexandrite Laser
5.2 Application
5.2.1 Skin resurfacing/Skin rejuvenation
5.2.2 Hair Removal
5.2.3 Acne and scars
5.2.4 Tattoo removal
5.2.5 Treatment of vascular lesions
5.2.6 Others
5.3 End User
5.3.1 Spas and Beauty Centres
5.3.2 Clinics and Hospitals
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alma Lasers
6.1.2 Candela Medical
6.1.3 Cutera
6.1.4 Cynosure
6.1.5 IRIDEX Corp.
6.1.6 Jeisys Corporation
6.1.7 Lumenis
6.1.8 El.En. Group
6.1.9 Sciton, Inc.
6.1.10 Bausch Health Companies Inc. (Solta Medical Inc.)​

7 MARKET OPPORTUNITIES AND FUTURE TRENDS