3 Key Insights on US$ 1,800 Mn Opportunity in Global Aesthetic Laser Device Market: Ken Research

Driven by the people’s increasing awareness about their physical appearance, safety & effectiveness, and decreasing costs of aesthetic laser procedures, the Global Aesthetic Laser Device Market is Forecasted to Cross US$ 1,800 Mn by 2028 says Ken Research Study.

Aesthetic Laser Devices are medical devices that use a selective photothermolysis approach that works at a specific wavelength creating a thermal effect that destroys undesirable tissues and cells. These are used for hair removal, tattoo removal, acne and sore removal, wrinkle removal, skin rejuvenation, and inflammatory skin diseases among other applications. These are very safe and effective treatments and ideally should be performed by a trained technician or a certified medical professional.

According to Ken Research estimates, the Global Aesthetic Laser Device Market – which grew from around ~US$ 800 Mn in 2017 to nearly ~US$ 1,100 Mn in 2022 – is expected to grow further into a more than ~US$ 1,800 Mn opportunity by 2028.

Ken Research shares 3 key insights on this high opportunity market from its latest research study.

1. Growing Consumer Awareness About the Safety and Effectiveness of Aesthetic Laser Procedures to Boost the Market

The global Aesthetic Laser device market is going to grow further due to more and more people being very concerned about their physical & body appearances, an aging population that is going for skin rejuvenation, and increased awareness about such procedures in highly populous countries such as coupled with growing disposable income. 

The widespread know-how about such procedures and the availability of abundant skilled professionals for such procedures are going to drive the growth of the market too especially in developed countries.

2. Affordable Pricing of the Aesthetic Laser Procedures Has Accelerated the Use of Aesthetic Laser Devices

As more and more people became aware of the safety and effectiveness of aesthetic laser procedures, the number of people who opted for such services grew. This was aided by the fact that gradually over the years the cost of such procedures became more affordable and hence these could be performed on a larger population base.

Also, more and more skilled professionals were available to carry out such procedures making the consulting fees also nominal. According to Statista, the average range of fees per such procedure in 2021 varies anywhere between ~US$ 170 to ~US$ 1,800.

3. Declining Costs of the Laser Procedure are Driving the Hair Removal Segment’s Growth

The declining costs of minimally invasive procedures have resulted in the growth of the aesthetic laser device market. According to the American Society of Plastic Surgeons, 757,808 minimally invasive laser hair removal procedures were performed in the US in 2020.

For More Information, refer to below link:-

Global Multiplatform Lasers Device Market Size

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3 Key Insights on Competitive Landscape in the Global Aesthetic Laser Device Market: Ken Research

Despite the Presence of about ~100 Competitors Comprising a Large Number of Country-Niche Players, Regional Players, the Global Players dominate the market in terms of market revenue share, finds a recent market study on Global Aesthetic Laser Device Market by Ken Research

Aesthetic Laser Devices are medical devices that use a selective photothermolysis approach that works at a specific wavelength creating a thermal effect that destroys undesirable tissues and cells. These are used for hair removal, tattoo removal, acne and sore removal, wrinkle removal, skin rejuvenation, and inflammatory skin diseases among other applications. These are very safe and effective treatments and ideally should be performed by a trained technician or a certified medical professional.

Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.

1.  Global Players Constitute ~25% of Total Number of Competitors, While Regional Companies Hold ~35% Share in Terms of the Total Number of Players in the Market

A comprehensive competitive analysis conducted during the Research Study found that the Global Aesthetic Laser Device market is highly competitive with ~100 players, including globally diversified players, regional players, and country-niche players, which hold ~40% share in terms of the number of companies present in the market, with their offerings in some specific product categories.

The majority of the top global Aesthetic Laser device companies, including 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. are expected to maintain their leading positions in the forecasted period.

2.  Global Players' Continuous Investments in New Technologies & Products and Geographic Expansion Through Partnerships are Driving Revenue Growth in This Market

Detailed comparative analysis of key competitors available within the Research Study shows that numerous companies such as Candela Corporation and El.En. S.p.A. are highly focused on providing products with newer technologies to stay ahead in the market.

• In January 2021, Candela launched the Frax Pro™ system, an ablative fractional device, which was cleared by the FDA and the first of its kind to offer dual depth skin resurfacing.
• In December 2021, Clarion Medical Technologies Inc., a major Canadian company, formed a partnership with El.En. Under this partnership, the DEKA branded SmartXide CO2 laser system and its accessories were to be distributed in the Canadian market by Clarion.

3.  The Initial Phase of the Ongoing COVID-19 Affected the Demand for Thermal Imaging Aesthetic Laser Devices in a Negative Way; However, Market Has Bounced Back After That

The advent of the COVID-19 pandemic hampered the Aesthetic Laser device market’s growth as there were restrictions in terms of social distancing and lockdowns which resulted in the temporary shutdown of such procedures.

Also, as the focus shifted to the critical treatment area of Covid patients and other related ailments, this market suffered as people were not simply interested in such procedures.

As per the 2020 Plastic Surgery Statistics Report published by the American Society of Plastic Surgeons, the number of minimally invasive laser tattoo removal procedures in 2020 stood at 199,945 as compared to 215,898 procedures in 2019, a Y-o-Y decline of 7%.

Government Policies and Regulations are Propelling the Aesthetic Laser Device Market Growth

Active participation by governments and relevant authorities in terms of regulating the aesthetic laser devices and certifying skilled/trained personnel for the procedures have been very favorable factors in the growth of the Aesthetic Laser device market. Most governments include it as a Medical Device and make policies accordingly.

In the European Union, laser devices have been categorized as Medical Devices and come under the Medical Devices Regulation (MDR), effective since 2017. The aesthetic products that can be considered high risk are included in the MDR. Any product that can’t be differentiated as aesthetic or cosmetic is evaluated on the risks they pose.

Similarly, China Food and Drug Administration has its own criteria for medical devices. All the aesthetic devices which are considered high-risk are evaluated and regulated based on their working theory.

As aesthetic laser procedures may cause harm to the human body hence these regulations help users to go for only approved devices and procedures that ensure their safety. This is helping the consumers to have faith in their safety and reliability which is driving the market to grow.

For More Information, refer to below link:-

Aesthetic Laser Device Manufacturing Companies

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Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249