What Is the Size of Global Aesthetic Laser Device Industry?
Global Aesthetic Laser Device market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F. The Aesthetic Laser Device Market is largely 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.
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.
Furthermore, 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. 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.
Global Aesthetic Laser Device Market by type
The Global Aesthetic Laser Device market is segmented by Type into Standalone Lasers, Multiplatform Laser and Others. Multiplatform Lasers segment holds the largest share of the Global Aesthetic Laser Type Market in 2022. 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.
Global Aesthetic Laser Device Market by application
The Global Aesthetic Laser Device Market is segmented by Application into Hair Removal, Skin Rejuvenation, Vascular Lesions, Acne & Scars, Pigmented Lesion & Tattoo Removal, Leg & Varicose Veins and Other Applications.
The Hair Removal segment dominated the market for Aesthetic Laser devices in 2022. 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.
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Global Aesthetic Laser Device Market by end-user
The Global Aesthetic Laser Device market is segmented by End-User into Hospitals, Private Clinics, Medical Spas and Others. The Private Clinics segment held the largest market share in 2022. 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.
Global Aesthetic Laser Device Market by geography
The Global Aesthetic Laser Device market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America accounts for the largest share among all Regions within the total Aesthetic Laser Device market in 2022.
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.
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.
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