The Aesthetic Lasers Market is forecast to grow from USD 1.06 Billion in 2020 to USD 2.38 Billion by 2028, at a CAGR of 10.8% during the forecast period. The market is primarily driven by increased global warming resulting in severe skin damage and sunburn, increased use of oral contraceptives among women, and phototoxic drug use. Technology advancement has enabled needle-free procedures, thereby boosting the rate of laser treatment adoption. As a preventive measure, young people also opt for cosmetic procedures and slow down the aging process.
Strict regulations are projected for cosmetic laser products to ensure increased device efficiency while treating the skin without adverse effects. In addition to the radiation safety performance standards defined by the Federal Regulations, laser device manufacturers must comply with the Federal Food, Drug, and Cosmetic Act. The increasing adoption of energy-based devices and market player’s low focus on aesthetic devices restrict this market's growth.
Top Companies Profiled in the Report Include:
Lumibird (France), IPG Photonics (US), Coherent (US), Lumentum (US), Epilog Laser (US), Jenoptik (US), Novanta (US), Trumpf (Germany), LaserStar (US), MKS Instruments (US) and others.
Market Overview:
The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
Type (Revenue, USD Million; 2018-2028)
Multiplatform Laser Devices
Standalone Laser Devices
Alexandrite Lasers
Carbon Dioxide (Co2) Laser
Diode Lasers
Er:YAG (Erbium YAG) Laser
Neodymium:Yttrium-Aluminum-Garnet (Nd:YAG) Laser
Pulsed Dye Lasers (PDL)
Others
Application (Revenue, USD Million; 2018-2028)
IPL Laser Treatment
Laser Skin Resurfacing
Noninvasive Tightening
Laser-Assisted Lipoplasty
Laser Hair Removal
End User (Revenue, USD Million; 2018-2028)
Hospitals
Private Surgery Centers/Clinics
Medical Spas & Centers
Others
Country-wise regional analysis covers:
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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