Market Overview:
Cosmetic Laser Market size was valued at USD 1.99 billion in 2019 and is poised to grow from USD 2.42 billion in 2023 to USD 13.18 billion by 2031, growing at a CAGR of 21% in the forecast period (2024-2031). The demand for laser is expected to grow rapidly due to the ageing of baby boomers and the prevalence of surplus income among the middle class to spend on cosmetic surgeries. The growing popularity of radiofrequency-based treatments is also driving the cosmetic laser market. Picoway, LaseMD, FraxPro, and Pixel CO2 radiofrequency-based devices are gaining popularity because they are non-invasive and effective in treating a wide range of skin conditions. The PicoWay laser platform from Candela Medical has a high peak power and ultra-short pulse durations for a photoacoustic effect. The platform is used to remove tattoos, rejuvenate and tone the skin, and treat pigmented lesions.
Market Insights:
Cosmetic Laser Market Driver
Technologically Advanced and Procedure-Specific Cosmetic Laser Systems
The introduction of technologically advanced and procedure-specific cosmetic laser systems is primarily attracting females to undergo aesthetic procedures such as acne reduction, hair removal, and so on. Rising demand for procedure-specific laser treatments is influencing key market players to launch novel energy-based cosmetic laser systems in the market, driving the growth of the cosmetic laser market during the forecast period. One of the factors influencing people to seek out minimally invasive cosmetic laser procedures such as hair removal, acne reduction, skin tightening, and others is the increasing value placed on physical appearance. This factor is expected to increase the demand for cosmetic laser, boosting market growth.
Increasing Obesity and the Prevalence of Skin Conditions to Drive Market Growth
People in developed and developing countries are becoming more obese as a result of sedentary lifestyles, prompting them to seek body restructuring or reshaping treatments. Laser’ minimally invasive and quick action is enticing patients to undergo a variety of cosmetic procedures. This is one of the major factors that will likely drive demand for cosmetic laser. One of the reasons for the increased use of cosmetic laser for treatment is the rising prevalence of skin disease or skin conditions such as rosacea and others. As a result, the demand for minimally invasive energy-based cosmetic laser is increasing.
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Key Market Segments:
The global cosmetic laser market is segmented based on the type, application, end user and region.
Based on the type, it is bifurcated into ablative, and non-ablative.
Based on application, it is segmented into hair removal, skin resurfacing, vascular lesions, scar and acne removal, body contouring, and others.
Based on end user, it is segmented into hospitals, skin care clinics, and cosmetic surgical centers.
Based on region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
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Cosmetic Laser Market Analysis by Type
The global cosmetic laser market is bifurcated based on type into ablative, and non-ablative. The non-ablative segment is anticipated to hold the largest share in the global cosmetic laser market, since these devices necessitate small incisions on the skin’s surface through which a cannula is inserted Through the cannula, laser energy is delivered to the target tissues, resulting in adipocyte coagulation and destruction. Furthermore, laser-assisted devices currently available include Smartlipo by Hologic, Inc., ProLipo PLUS by Sciton, Inc., and others.
Cosmetic Laser Market Analysis by End User
The global cosmetic laser market is segmented based on end user into hospitals, skin care clinics, and cosmetic surgical centers. cosmetic surgical centers segment is anticipated to hold the largest share in the market. This is due to an increase in individual awareness of self-grooming and getting their bodies in shape. Furthermore, the global rise in obesity contributes to the expansion of the cosmetic laser market. Body contouring devices are also used to tighten loose skin or remove unwanted fat from various parts of the body, including the waist, abdomen, and upper torso. These devices use a variety of mechanisms, including radiofrequency, cry lipolysis, and high-intensity focused ultrasound (HIFU).
Regional Insights:
The global cosmetic laser market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America region is expected to account for the largest market. A growing number of surgeons in the region, rising consumer spending power, and an increase in research activities in the domain are a few other factors driving market growth in North America. Furthermore, rising adoption of modern technologies and increased efforts to promote non-invasive cosmetic treatments are expected to have an impact on the region’s market growth. Moreover, the presence of major key players in this region such as Hologic, Inc., Bausch Health Companies Inc., and Cutera, Inc.
It is constantly growing in North America, owing primarily to an increase in the obese population. According to ProCon.org in the United States, the percentage of obese adult population was 36.2%, 29.4% in Canada, and 28.9% in Mexico. Obesity is expected to be especially high in the United States and Mexico, according to the Organization for Economic Cooperation and Development. Furthermore, the easy availability of cosmetic laser, a larger target population, and favourable reimbursement in the healthcare system are expected to fuel the market’s growth. The Asia-Pacific cosmetic laser market is expected to grow significantly during the forecast period. This is due to an increase in cosmetic laser promotional activities in this region, which is expected to drive the cosmetic laser market in emerging Asia-Pacific countries.
Prominent Players in Cosmetic Laser Market:
- Alma Laser
- Cynosure,
- Sciton
- Cutera
- En. S.p.A.
- Fotona d.o.o.
- Hologic, Inc.
- Lumenis
- Sharplight Technologies Ltd.
- Syneron Medical Ltd.
- Aerolase Corp.
- Bausch Health Companies, Inc.
- Biolitec AG
- Candela Corporation (Syneron Candela)
- Deka Laser Technologies
- Energist Ltd.
- Erchonia Corporation
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Additional Insights:
Market Penetration: Analysis of the product portfolio of different market players and the status of new product launches.
Product Development/Innovation: Assessment of R&D activities, new product development, and emerging trends.
Market Development: Analysis of regions with high growth potential.
Market Diversification: Assessment of new products, recent developments, and emerging regional markets.
Competitive Landscape: Growth strategies, revenue analysis, and product innovations by market players.
Key Questions Answered in Cosmetic Laser Market Report:
What is the global market size of the Cosmetic Laser Market?
Who are the key vendors in the Cosmetic Laser Market?
What is the key driver of the Cosmetic Laser Market?
What is the key market trend for the Cosmetic Laser Market?
Which region accounted for the largest share in the Cosmetic Laser Market?
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