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, 2018-2026," the global aesthetic lasers and energy devices market size is expected to reach $ 9,532 million by 2026, registering a CAGR of 10.5% from 2019 to 2026, in terms of value.
The aesthetic lasers and energy devices generated $3,962.4 million in 2018 and is projected to reach $9,534.6 million by 2026, growing at a CAGR of 10.5% from 2019 to 2026. Aesthetic lasers and energy devices are increasingly being used for performing various cosmetic procedures. Aesthetic devices improve the physiology of wrinkled and ageing skin. These procedures are gaining traction among individuals seeking to rejuvenate their skin. There are many technical procedures employed for the rectification of the aesthetic treatment process. Moreover, these devices aid quick recovery post procedures 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 aesthetic lasers and energy devices market growth. In addition, surge in demand for minimal invasive procedures, lower cost of these procedures in comparison to surgeries, and past procedures, further contributes to 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.
By technology, the energy-based technology segment accounted for 71% of the market share in aesthetic lasers and energy devices market in 2018. This segment is expected to exhibit a prominent growth rate, owing to its enormous use for skin treatments across the globe.
By product, the laser resurfacing devices segment dominated the market in 2018 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.
North America accounted for the majority of the global aesthetic lasers and energy devices market share in 2018 and is anticipated remain dominant during the forecast period. This is attributed to the urge in use and ease of availability of aesthetic lasers in this region. However, Asia-Pacific is anticipated to grow at the fastest rate during the forecast period, owing to the increased disposable income in developing economies such as India, China, and rise in awareness regarding laser technology.
Key Findings of the Aesthetic Lasers And Energy Devices Market :
- By technology, the energy-based technology segment accounted for the highest market share of 71% in 2018 and is anticipated to grow at the fastest rate during the forecast period.
- By region, North America was the major shareholder and accounted for the highest share of 38% in 2018.
- Based on product, the body contouring devices segment is expected to grow at a CAGR of 10.8% during the forecast period.
- On the basis of application, the skin tightening segment dominated the market in 2018 and is anticipated to maintain its dominance during the forecast period.
The report provides an extensive competitive analysis and profiles of the key market players such as Allergan plc, Bausch Health Companies Inc, Candela Medical, Hologic, Inc., Energist Medical Group, Fotona, Inc., Lumenis, Ltd., Lutronic, Inc., Sisram Medical Ltd., and Sciton, Inc.