Showing posts with label Global Aesthetic Laser Device Market. Show all posts
Showing posts with label Global Aesthetic Laser Device Market. Show all posts

Tuesday, March 14, 2023

Global Aesthetic Laser Device Industry reach a revenue of US$ 1.8 Bn by 2028: Ken Research

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Competition Scenario in Global Aesthetic Laser Device Market

The Global Aesthetic Laser Device market is fairly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche product ranges. The Aesthetic Laser Device market's growth is heavily reliant on the adoption of new technologies and advancements in the types of devices being made available to the end users as well as the safety and effectiveness of the procedures performed.

Country-Niche players constitute about ~40% of the competitors, while regional players hold a share of ~35% in terms of the number of competitors. Some of the major players in the market include Cynosure, Inc., Aerolase Corp., Lumenis Be Ltd., Sciton, Solta Medical, SharpLight Technologies Ltd., Cutera, Alma Lasers, Candela Corporation, El.En. S.p.A., Rohrer Aesthetics, Inc. among others.

What is the Expected Future Outlook for the Overall Global Aesthetic Laser Device Market Across the globe?

The Global Aesthetic Laser Device market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

The Global Aesthetic Laser Device market is driven by the rising spending & awareness by the consumers of their physical appearances, technical advancements in such treatments, and the increasing affordability of such procedures. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.

With the increasing innovation and emergence of new products, the Global Aesthetic Laser Device market is changing rapidly. For instance, In June 2022, Cynosure launched an upgrade to its PicoSure platform with the PicoSure Pro device which is the only FDA-approved 755nm picosecond laser in the US market. The device is used for skin revitalization and unwanted pigmentation.

In March 2022, Aerolase extended its universal laser technology treatment range through a partnership with French device maker Clarteis SAS and launched Exci308TM, a handheld excimer phototherapy device.

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Furthermore, In Jan 2022, Lumenis launched the Splendor X device which can be used for pigmented lesions, treatment of wrinkles, vascular treatment, and hair removal. The device uses BLEND X technology and 755nm wavelength. In addition to that, In December 2021, Cutera launched the truSculpt flex+ an upgradation to its truSculpt flex muscle building technology. The new technology is a rapid treatment mode and will reduce the treatment time to a fraction of what it was taking earlier. The global Aesthetic Laser device market is forecasted to continue its stable growth since 2017. One of the major trends driving market expansion is the spiraling demand for minimally invasive procedures as well as the growing awareness and trust of the consumers for such procedures. Though the market is fairly competitive with ~100 participants, few global players control the dominant share in terms of market revenue and regional players also hold a significant share.

Market Taxonomy

By Type

  • Standalone Lasers
  • Multiplatform Laser
  • Others

By Application

  • Hair Removal
  • Skin Rejuvenation
  • Vascular Lesions, Acne & Scars
  • Pigmented Lesion & Tattoo Removal
  • Leg & Varicose Veins
  • Other Applications

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By End User

  • Hospitals
  • Private Clinics
  • Medical Spas
  • Others

By Geography

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
  • LAMEA (Latin America, Middle East, and Africa)

Key Companies

  • Cynosure, Inc.
  • Aerolase Corp.
  • Lumenis Be Ltd.
  • Sciton
  • Solta Medical
  • SharpLight Technologies Ltd.
  • Cutera
  • Alma Lasers
  • Candela Corporation
  • El.En. S.p.A.
  • Rohrer Aesthetics, Inc.

For more insights on the market intelligence, refer to below link:-

Global Aesthetic Laser Device Market

Tuesday, December 13, 2022

Global Aesthetic Laser Device Market reach a revenue of US$ 1.8 Bn by 2028: Ken Research

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The Global Aesthetic Laser Device Market is expected to record a positive CAGR of ~9% during the forecast period (2022-2028) and reach a revenue of US$ 1.8 Bn by 2028, due to the rising spending & awareness by the consumers of their physical appearances, technical advancements in such treatments, and the increasing affordability of such procedures.

Global Aesthetic Laser Device Market Revenue

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Key Growth Drivers

  • The growing elderly population and the demand from this demographic to go for skin rejuvenation is one of the major factors propelling the Aesthetic Laser Device market growth.
  • According to World Health Organization, between 2015 and 2050, the proportion of people aged above 60 in the world’s population will nearly double and it will reach 22% from 12%.
  • The strict rules and regulations as well as the safety guidelines laid out by the relevant authorities by different governments is a key challenge to the growth of the market.
  • For example, the United States Food and Drug Administration, the federal agency of the Department of Health and Human Services, regulates the types of physical devices that can be made available in the market.
  • Similarly, the American Society for Laser Medicine & Surgery, Inc. has laid out some standards for the device operators to meet certain training criteria such as being capable to evaluate the best laser treatment to be conducted based on the condition of the individual.
  • The Covid-19 pandemic had a negative influence on the growth of the market for Aesthetic Laser devices as the governments worldwide imposed lockdowns and social distancing norms thereby forcing these facilities to halt their operations.
  • According to the American Society of Plastic Surgeons, the number of laser hair removal procedures declined by 28% in 2021 as compared to 2020.
  • However, after the lockdowns were relaxed there has been a growth in this market as more and more people are again coming for such treatments.

Key Trends by Market Segment

By Type:  Multiplatform Lasers segment holds the largest share of the Global Aesthetic Laser Type Market in 2021.

  • The multiplatform lasers segment dominates the Aesthetic Laser devices market by type as they offer multiple technologies, and are scalable & upgradeable. They are cheaper to operate, occupy less space, and have a low maintenance cost as these require a smaller number of service visits than a standalone laser.
  • Also, these provide the flexibility of having multiple standalone systems integrated into a single package and hence provide a better return on investment.

Comparison of Pay Off Period

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By Application: The Hair Removal segment dominated the market for Aesthetic Laser devices in 2021.

  • More and more individuals are being conscious about their physical appearance and rely on aesthetic procedures for their body hair removal which are the major factors of growth of this segment. As laser hair removal procedures are permanent solutions for hair removal methods, hence this segment is growing.
  • Furthermore, the increased number of PCOS (Polycystic ovary syndrome)/PCOD (Polycystic ovary syndrome) patients who suffer from unwanted hair growth are also opting for aesthetic hair removal procedures propelling the market to grow.
  • According to an article published by MSD Manual by Merck & Co, Inc. in September 2022, anywhere between 5 to 10% of women in the US suffer from PCOS.

Share of Young Women

By End User: The Private Clinics segment held the largest market share in 2021.

  • The growing number of private surgeons offering minimally invasive cosmetic surgeries through the increasing number of private clinics is driving the growth of the aesthetic laser device market globally.
  • According to data published by The Private Healthcare Information Network, a UK government-mandated but independent organization providing data on private hospitals, consultants, and patient visits, between July and September 2021, there was a total number of 186,000 patient admissions in private hospitals.
  • Also, many of the consultants of the National Health Service (NHS) of England have shares in private clinics which have generated revenues in excess of GBP 1 Bn since 2015 as per an article by The Guardian.

Global Aesthetic Laser Device Market Revenue Share by End User

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By Geography: North America accounts for the largest share among all Regions within the total Aesthetic Laser Device market in 2021.

  • The high level of consumer awareness, high-income levels, availability of the latest procedures, and skilled personnel are driving the growth of the North American market.
  • In 2020, ~200,000 laser tattoo removal and more than 750,000 laser hair removal procedures were carried out in the US alone as per data provided by Rohrer Aesthetics, Inc., one of the major players in the market.
  • The Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period 2022-2028, owing to its high population, being a major destination for medical tourism, and growing awareness among people on aesthetic laser procedures.

Major Regions by Revenue Share Global Aesthetic Laser Device Market

Competitive Landscape

The Global Aesthetic Laser Device market is fairly competitive with ~100 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche product ranges. The Aesthetic Laser Device market's growth is heavily reliant on the adoption of new technologies and advancements in the types of devices being made available to the end users as well as the safety and effectiveness of the procedures performed.

Country-Niche players constitute about ~40% of the competitors, while regional players hold a share of ~35% in terms of the number of competitors. Some of the major players in the market include Cynosure, Inc., Aerolase Corp., Lumenis Be Ltd., Sciton, Solta Medical, SharpLight Technologies Ltd., Cutera, Alma Lasers, Candela Corporation, El.En. S.p.A., Rohrer Aesthetics, Inc. among others.

Competitive Landscape of Global Aesthetic Laser Device Market

Recent Developments Related to Major Players and Organizations

  • In June 2022, Cynosure launched an upgrade to its PicoSure platform with the PicoSure Pro device which is the only FDA-approved 755nm picosecond laser in the US market. The device is used for skin revitalization and unwanted pigmentation.
  • In March 2022, Aerolase extended its universal laser technology treatment range through a partnership with French device maker Clarteis SAS and launched Exci308TM, a handheld excimer phototherapy device.
  • In Jan 2022, Lumenis launched the Splendor X device which can be used for pigmented lesions, treatment of wrinkles, vascular treatment, and hair removal. The device uses BLEND X technology and 755nm wavelength.
  • In December 2021, Cutera launched the truSculpt flex+ an upgradation to its truSculpt flex muscle building technology. The new technology is a rapid treatment mode and will reduce the treatment time to a fraction of what it was taking earlier.
  • In January 2021, Merz Aesthetics and Candela Corporation collaborated to provide comprehensive coverage of both aesthetic laser device products and service offerings in the injectable and skincare portfolios globally.

Conclusion

The global Aesthetic Laser device market is forecasted to continue its stable growth since 2017. One of the major trends driving market expansion is the spiraling demand for minimally invasive procedures as well as the growing awareness and trust of the consumers for such procedures. Though the market is fairly competitive with ~100 participants, few global players control the dominant share in terms of market revenue and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within a maximum of 2 working weeks.

Ken Research has recently published report titled, Global Aesthetic Laser Device Market Size, Segments, Outlook, and Revenue Forecast 2022-2028, segmented by Type, Application, and End-User. In addition, the report also covers the market size for each of the four regions' Aesthetic Laser device markets. The revenue used to size and forecast the market for each segment is USD million.

Market Taxonomy

By Type

  • Standalone Lasers
  • Multiplatform Laser
  • Others

By Application

  • Hair Removal
  • Skin Rejuvenation
  • Vascular Lesions, Acne & Scars
  • Pigmented Lesion & Tattoo Removal
  • Leg & Varicose Veins
  • Other Applications

By End User

  • Hospitals
  • Private Clinics
  • Medical Spas
  • Others

By Geography

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, UK, France, Italy, Spain, Rest of Europe)
  • Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)
  • LAMEA (Latin America, Middle East, and Africa)

Key Companies

  • Cynosure, Inc.
  • Aerolase Corp.
  • Lumenis Be Ltd.
  • Sciton
  • Solta Medical
  • SharpLight Technologies Ltd.
  • Cutera
  • Alma Lasers
  • Candela Corporation
  • El.En. S.p.A.
  • Rohrer Aesthetics, Inc.