This study estimates the market size for 2016 and projects its demand till 2021. Primary and secondary research was used to for market estimation and forecast. Various secondary sources such as directories, industry journals, and databases have been used to identify and collect information useful for this extensive commercial study of the market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess prospects of the market.
The global aesthetic lasers market is estimated to grow at a CAGR of 10.2% during the forecast period, to reach USD 1,132.7 Million by 2021.
Growing adoption of noninvasive procedures, changing lifestyles, rising incidence of skin damage, reduction in procedural costs, and rise in medical tourism devices are the major factors driving the growth of the aesthetic lasers market. However, the rising adoption of energy-based devices and low focus of market players on aesthetic/cosmetic devices are restraining the growth of this market.
- Growing Adoption of Non-Invasive Aesthetic Procedures
- Changing Lifestyle and Growing Disposable Income
- Technological Advancements
- Growing Medical Tourism
The aesthetic lasers market is segmented on the basis of type, application, end user, and region. On the basis of type, the market is segmented into standalone lasers and multiplatform lasers. Standalone lasers are further segmented into carbon dioxide (CO2) lasers, erbium YAG lasers, diode lasers, pulsed dye lasers, Nd:YAG lasers, alexandrite lasers, other standalone lasers (argon, ruby, krypton lasers, and erbium:glass lasers). Standalone lasers have advantages such as simplicity of functioning and ease of use which has significantly boosted their adoption and accounts for the highest market share of the aesthetic lasers market in 2016.
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Based on type, the aesthetic/cosmetic lasers type market is segmented into standalone lasers and multiplatform lasers. In this market, multiplatform lasers formed the fastest-growing segment as they provide scalable and upgradeable hybrid systems that can treat multiple indications. Factors such as multiplatform lasers provide clinicians the flexibility and versatility of several standalone systems in a single package, and provide combination therapy to synergistically treat a single indication or provide treatment addressing multiple elements of any indication is contributing to the high growth of this segment in the forecast period.
The geographical regions mapped in the report are:1. North America2. Europe3. Asia-Pacific4. Rest of the World (RoW)
The market is segmented into four major regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Among these regional segments, North America is expected to account for the largest share of the global aesthetic lasers market. However, the Asia-pacific is expected to grow at the highest CAGR during the forecast period. The high growth in this regional segment can be attributed to factors changing lifestyles, rising incidences of skin damage, and increasing medical tourism in the region will drive the growth of this market..
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Some key players mentioned in the research report are:
Industry trends such as social media marketing and increasing consolidations of manufacturers and suppliers of aesthetic lasers products is further driving the growth of this market. Major players in the aesthetic lasers market include Aerolase (U.S.), Alma Lasers, Ltd. (Israel), Cutera, Inc. (U.S.), Cynosure, Inc. (U.S.), El.En. SpA (OTCPK:ITALY), Lumenis Ltd. (Israel), Sciton, Inc. (U.S.), SharpLight Technologies (Israel), Syneron Medical Inc. (Israel), and Solta Medical (U.S.).