Major players in the cosmetic lasers market are Cutera Inc., Cynosure Inc., Lumenis, Aerolase Corporation, ALMA LASERS LTD, Sciton Inc., Syneron Candela, Solta Medical International Inc., ElEn SpA, Lynton Lasers Ltd, Medicure Group Of Companies, Thermage, ALLTEC GmbH (FOBA), Mentor, Fotona, Allergan Inc., and Galderma Laboratories LP.
The global cosmetic lasers market is expected to grow from $1.64 billion in 2020 to $1.93 billion in 2021 at a compound annual growth rate (CAGR) of 17.7%. The growth is mainly due to the increase in beauty and health consciousness and the popularity of the non-invasiveness nature of treatment which gives quick results, causes lesser discomfort and has a shorter recovery time as opposed to traditional methods. The market is expected to reach $3.28 billion in 2025 at a CAGR of 14.2%.
The cosmetic lasers market consists of sales of cosmetic lasers by entities (organizations, sole traders, and partnerships) that manufacture cosmetic lasers used during cosmetic surgeries.A cosmetic laser is a device used to reduce facial wrinkles and skin irregularities, such as acne scars or blemishes.
Cosmetic lasers are also used for removing unwanted hair from the body by beaming highly concentrated light into the hair follicles. It is used to treat In medical conditions, it is used to treat such as sagging eyelid skin, aging skin problems, and wrinkles on the face birthmarks, fine lines, and dark circles.
The main types of cosmetic lasers are standalone lasers, multiplatform lasers and the models include pulsed dye laser (PDL), yttrium aluminum garnet (YAG) laser, carbon dioxide laser, erbium, intense pulsed light (IPL), radiofrequency, infrared, others.Standalone lasers have a single wavelength and a small variety of applicators used for treating a narrow range of indications.
The multiplatform lasers use a hand-piece with a small laser rod positioned inside having different wavelengths for a range of indications. The cosmetic laser is used by hospitals, skincare clinics, cosmetics surgical centers and is applied in various areas including hair removal, skin resurfacing, vascular lesions, scar and acne removal, body contouring, others.
North America was the largest region in the cosmetic lasers market in 2020.Asia Pacific was the second largest market in cosmetic lasers market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The stringent regulations for cosmetic laser products with respect to approval and marketing couldis expected to be a restraint for the market in the forecast period.The laser device manufacturers have to comply with a number of regulations relating to radiation safety, device efficiency and performance and other FDA guidelines on major hazard classes.
The stringent regulatory processes and standards for cosmetic lasers delays the time required for the device to get to market which could act as a restraint in the forecast period.
In December 2019, US based private equity company, Potomac Equity Partners, through its portfolio company, Laser MD Medspa, acquired Laser Gentle Medspa for an undisclosed amount.Through this acquisition, Laser MD Medspa expands its geographical presence and gains access to a full suite of cosmetic and aesthetic treatments, including laser hair removal services.
Laser Gentle Medspa is an US based company specializing in laser hair removal, skin rejuvenation, body contouring and others.
Rising medical tourism supported the growth of the cosmetic lasers market over the historic period.The wide availability of better quality and low costs treatment options is increasing demand for medical tourism which provides better facilities and experienced doctors for better treatment and care, at an economical price.
The rise in medical tourism, especially the cosmetic surgery medical tourism is likely to escalate the demand for cosmetic lasers.For instance, according to Japan Foreign Ministry, the medical visas issued to international patients increased from 70 in 2011, to almost 1700 in 2018.
Medical visitors come to the country for its top-line cancer treatment centers and expertise in cosmetic surgery. Therefore, the upraising medical tourism industry is predicted to augment the demand for cosmetic lasers.
The companies are increasingly focusing on developing innovative and technologically advanced products to meet the requirement of end-users, expand the company product portfolio, and maximize company sales.For instance, in January 2020, Lumenis, an Israel-based manufacturer of minimally-invasive clinical solutions for aesthetic, surgical, and ophthalmology markets launched LightSheer Quattro, a product that offers hair removal treatment for all skin types.
In 2019, India based medical and aesthetic solutions company, Alma Medical launched a novel device for hair removal named Saprano Titanium, which is quicker, painless and covers greater area using multiple wavelengths.
The countries covered in the cosmetic lasers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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