The global aesthetic laser and energy devices market is driven by an increase in the number of surgeries and rise in prevalence of skin disease.
Wilmington, Delaware, United States, Transparency Market Research Inc.: Aesthetic Laser and Energy Devices Market - Snapshot
The global aesthetic laser and energy devices market is driven by an increase in the number of surgeries and rise in prevalence of skin disease. The global market was valued at US$ 1,953.0 Mn in 2017 and is projected to reach US$ 4,483.7 Mn in 2026, expanding at a CAGR of 9.7% from 2018 to 2026, owing to a rise in the adoption of lasers in the aesthetics market.
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Laser and energy devices include lasers, light-based systems, ultrasound devices, and radio frequency-based devices that are used for aesthetic purposes. These devices often use a combination of energy types in order to provide the most effective therapy. Laser and energy devices are most commonly used for skin and hair treatment, including applications such as skin rejuvenation, tattoo removal, and skin tightening.
Road accidents occur quite frequently, taking a toll on millions every year. They cause death or lead to severe injuries, skin wounds, and other major disorders. Accidents can also result in penetration injuries, typically cuts and scrapes. Advancements in aesthetic devices related to the skin resurfacing application have proved to be a boon in such cases.
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The global aesthetic laser and energy devices market has been segmented based on product, application, end-user, and region. Based on product, the global aesthetic laser and energy devices market has been segmented into laser resurfacing devices, body contouring devices, and others. The laser resurfacing devices segment accounted for a major share of the global market in terms of revenue in 2017. The segment is projected to expand at a high CAGR during the forecast period. The market share of the segment is anticipated to rise significantly in 2026.
In terms of application, the global aesthetic laser and energy devices market has been categorized into hair removal, scar removal/skin resurfacing, skin rejuvenation, skin tightening, and others. Increase in sports injuries and skin disorder prevalence are anticipated to propel the aesthetic laser and energy devices market during the forecast period.
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In terms of end-user, the global aesthetic laser and energy devices market has been divided into Hospitals, Dermatology Clinics, Cosmetic Centers, and others. The hospitals segment accounted for a leading share of the market in 2017. Adoption of new generation dynamometers such as System 4 Pro is likely to augment the segment.
In terms of region, the global aesthetic laser and energy devices market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market in 2017. The market share of the region is anticipated to fall in 2026. The region’s dominance is attributed to an increase in sports activity and a rise in the number of accidents. A rise in the number of obese people and significant increase in non-invasive liposuction procedures drive the market in the region.
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Europe has favorable government policies regarding health care infrastructure and awareness programs for skin cancers. The market in Asia Pacific is expected to expand at a rapid pace due to rise in population, change in lifestyle, increase in the number of accidents, and rise in per capita expenditure. Additionally, economic growth and rise in distribution channels support health care infrastructure improvement in developing countries such as India and China. These factors are anticipated to drive the market in Asia Pacific.
Companies such as Allergan plc, Mentor Worldwide LLC (Johnson & Johnson), Fosun Pharmaceutical Co., Ltd. (Alma Lasers), Valeant Pharmaceuticals International, Inc., Merz Pharma, Hologic, Inc., Novartis AG, Lumenis Ltd., and Syneron Medical Ltd accounted for a major share of the global aesthetic laser and energy devices market in 2017. Allergan plc is engaged in the development, manufacture, and marketing of branded pharmaceuticals, devices, and biologic products. The company has presence in over 100 countries and holds the top five positions in nearly 20 international markets.
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Companies are adopting the strategy of acquisitions and collaborations with parallel companies in order to improve and strengthen geographic presence in the global market. In July 2016, Allergan acquired medical dermatology and aesthetic medicine company Anterios to expand its neurotoxin pipeline. In October 2018, Lumenis introduced a new laser hair removal solution, SPLENDOR X, at the 2018 American Society of Dermatological Surgery (ASDS).
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