Aesthetic Lasers And Energy Devices Market Expected to Reach $ 10.30 Billion by 2028—Allied Market Research

According to a new report published by Allied Market Research, titled, “Aesthetic Lasers And Energy Devices Market by Product, Technology, Application and End User: Global Opportunity Analysis and Industry Forecast, 2021-2028," the global aesthetic lasers and energy devices market was valued at $ 2.25 billion in 2014 and is expected to reach $ 10.30 billion by 2028, registering a CAGR of 10.2% from 2021 to 2028.

Aesthetic lasers and energy devices are increasingly being used for performing various cosmetic procedures. Aesthetic devices improve the physiology of wrinkled & aging skin. These procedures are gaining traction among individuals seeking to rejuvenate their skin. There are many technical based procedures employed for the rectification of the aesthetic treatment process. Moreover, these devices aid quick recovery post procedure and also minimize post-surgical complications. 

Technological advancements in these devices such as their ability to resurface, rejuvenate, and treat vascular lesions of all types boosts the growth of the aesthetic lasers and energy devices market. In addition, surge in demand for minimal invasive procedures, lower cost of these procedures in comparison to surgeries, and past procedures, further contribute toward the market growth. However, high cost of these devices and lack of appropriate reimbursement policies restrain the market growth. Moreover, significant increase in disposable incomes, rise in baby boomer population, and the budding trend of body altering in developing countries, such as India and China, are anticipated to create lucrative opportunities for the market in the future. In addition, manufacturers are continuously focused toward the improvement of their products to help users gain improved results in a shorter time period with minimal or no incisions.

Moreover, it also used for treating acne and removing tattoos. Furthermore, increase in incidences of skin damage and rapidly changing lifestyles propel the aesthetic lasers and energy devices market growth. Laser devices owing to inherent features such as ease of usage and less time consumption are gaining popularity and hence are instrumental in increasing adoption rate of the same as a part of home care service.

By product, the laser resurfacing devices segment dominated the market in 2014 and is anticipated to maintain its dominance during the forecast period. This is attributed to the surge in the treatments using laser resurfacing devices such as skin rejuvenation, skin resurfacing, and others.

By technology, the energy-based technology segment accounted for the largest market share in aesthetic lasers and energy devices market in 2014. This segment is expected to exhibit a prominent growth rate, owing to its enormous use for skin treatments across the globe. Moreover, laser-based technology is used extensively for skin and hair treatment owing to the safety associated with their use

Due to COVID-19 pandemic, the aesthetic lasers and energy devices market is negatively impacted, as health care resources have been prioritized to cater for patients affected by COVID-19, routine health care services have remained suspended. In an effort to slow the spread of SARS-CoV-2 virus, the all countries adopted lockdown which came into effect on the March 23, 2020. Since then, clinics offering laser, light based and intense pulsed light services have remained closed for treatments. As the rate of COVID-19 infection slows, the all government has issued guidance for lifting of the lockdown in a cautious and phased manner. With this view many countries are allowing safe reopening of laser, light and energy based services. For instance, the British Medical Laser Services has issued guidance document, based on best available and current scientific evidence.

Key Findings Of The Study 

• By product, the laser resurfacing devices occupied 46.54% share of the global aesthetic lasers and energy devices market in 2014
• By technology, the energy based technology occupied 72.15% share of the market in 2014.
• By application, the skin tightening accounted for 35.37% share of the market in 2014. 
• By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.

North America accounted for the majority of the global aesthetic lasers and energy devices market share in 2014 and is anticipated remain dominant during the forecast period. Furthermore, due to presence of majority of key players boost the growth of the market in the region. Moreover, other factors such as surge in increase in healthcare expenditure, and technological advancements in aesthetic lasers and energy devices boost the growth of the aesthetic lasers and energy devices market in North America. Europe is expected to show steady growth over the next upcoming years, owing to increase in geriatric population base. On the other hand, Asia-Pacific is anticipated to witness lucrative growth due to rise in disposable income, greater untapped opportunities, and rapid rise in awareness among patients in this region.