According to a new report published by Allied Market Research, titled, "Cosmetic Lasers Market by Product, Modality, Application and End-User: Global Opportunity Analysis and Industry Forecast, 2018–2026," the cosmetic laser market size is expected to reach $5,416.70 million by 2026, registering a CAGR of 14.5% from 2019 to 2026, in terms of value.
Cosmetic lasers is a therapy used to reduce facial wrinkles and skin irregularities, such as skin laxity, moles, liver spots, excess fat, and blemishes or acne scars. The technique directs short, concentrated pulsating beams of light on irregular skin, precisely removing skin layer by layer. This popular procedure is also called lasabrasion, laser peel, or laser vaporization. Cosmetic lasers have revolutionized the beauty industry and offers minimally invasive treatments. Different types of lasers use various wavelength for targeting different pigments. In addition, ablative lasers focus on outer layer of the skin and create micro wounds on the skin surface. Whereas, the non-ablative lasers pass safely through outer skin and breach the tissue lying below.
Technological advancements in cosmetic lasers such as providing minimally invasive treatments and surge in awareness among individuals toward self-grooming are the major factors that propel the cosmetic laser market growth. In addition, rise in disposable incomes in developing economies, such as China and India, further contribute to the growth of cosmetic laser market. However, high cost of these devices and a lack of appropriate reimbursement policies restrain the growth of cosmetic laser market. On the contrary, rise in baby boomer population and the budding trend of body altering across the globe are anticipated to create lucrative opportunities for the market in the future. In addition, manufacturers are continuously focused toward improving their products to help users gain better results in a shorter time period with minimal or no incisions.
By type, the non-ablative segment accounted for 65% of the total cosmetic laser market share in 2018 and is expected to exhibit a prominent growth rate in the future, because these devices require small incisions on the skin surface through which a cannula is inserted. The laser energy is delivered to the target tissues through the cannula, which results in destruction of adipocytes by coagulation. In addition, currently, available laser-assisted devices include Smartlipo by Hologic, Inc. ProLipo PLUS by Sciton, Inc., and others.
Based on cosmetic laser market trend, the body contouring segment dominated the cosmetic laser market in 2018 and is anticipated to maintain its dominance during the forecast period. This is attributed to the surge in awareness among individuals toward self-grooming and getting their bodies in shape. Moreover, significant rise in obesity across the globe contributes to the cosmetic laser market growth. Further, body contouring devices are used to tighten lax skin or to remove undesired fat from various body parts, such as waist, abdomen, upper torso, and others. These devices work on different mechanisms such as radiofrequency, cryolipolysis, high-intensity focused ultrasound (HIFU), and others.
Key Findings of the Study:
- By type, the non-ablative segment accounted for the highest market share of 65% 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 42% in 2018.
- By application, the body contouring segment is expected to grow at a CAGR of 14.4% during the forecast period.
- By end user, the hospital segment dominated the market in 2018 and is anticipated to maintain its dominance during the forecast period.
The report provides a comprehensive analysis of the key players operating in the global cosmetic lasers market are Alma, Candela, Cutera, Cynosure, Deka, Hoyoconbio, Lumensis, Palomar, and Syneron, Aerolase El.En. Spa Lumenis Ltd., Aerolase Corporation Sciton, Inc., Sharp Light Technologies, Fosun Pharmaceutical, Syneron Medical Inc., and Solta Medical. The other players in the value chain include Aerolase Corporation, Iridex, ALLTEC GmbH, and Fotona.