NEW YORK, Nov. 3, 2016 /PRNewswire/ -- The global aesthetic/cosmetic lasers market is projected to reach USD 1,132.7 million by 2021 from USD 697.6 million in 2016, growing at a CAGR of 10.2% during the forecast period. Growth of this market can be attributed to factors such as growing adoption of noninvasive procedures, changing lifestyles, rising incidence of skin damage, reduction in procedural costs, and rising medical tourism. However, lack of reimbursement of cosmetic laser based procedures is restraining the growth of this market.
Multiplatform lasers provide clinicians the flexibility and versatility of several standalone systems in a single package, and provide combination therapy to synergistically treat a single indication or provide treatment addressing multiple elements of any indication. Thus, this segment is expected to grow at the highest CAGR during the forecast period.
The skin rejuvenation segment is expected to grow at the highest CAGR during forecast period, due to factors such as rise in population with skin disorders and concerns, growing adoption of aesthetic procedures, and technological advancement in lasers. Furthermore, the hair removal segment is expected to have the largest market size in 2016, due to the factors such as high adoption of aesthetic procedures, developments in laser technology, increased focus on body appearance, and high disposable income.
In 2016, North America is expected to account for the largest share of the global aesthetic/cosmetic lasers market, followed by Europe, Asia-Pacific, and Rest of the World (RoW). North America's large share is attributed to the growing preference for aesthetics procedures, rising aging population, high disposable income, technological advancement, and increasing awareness on the benefits of laser treatment. In the coming years, the aesthetic/cosmetic lasers market is expected to witness the highest growth in the Asia-Pacific region, with emphasis on India, China, and Japan. This can be attributed to factors such as changing lifestyles, rising incidences of skin damage, rising disposable income, and increasing medical tourism.
The market witnesses high competitive intensity, as there are several big and many small firms with similar product offerings. These companies adopt various strategies (expansions; new product launches; marketing and promotion; agreements, collaborations, contracts, partnerships, and joint ventures; funding; acquisitions; patent grants, website launches, and product enhancement) to increase their market shares and establish a strong foothold in the global aesthetic/cosmetic lasers market.
Major players in the aesthetic/cosmetic lasers market include Aerolase (U.S.), Alma Lasers, Ltd. (Israel), Cutera, Inc. (U.S.), Cynosure, Inc. (U.S.), El.En. SpA (Italy), Lumenis Ltd. (Israel), Sciton, Inc. (U.S.), SharpLight Technologies (Israel), Syneron Medical Inc. (Israel), and Solta Medical (U.S.).
The market study covers the global aesthetic/cosmetic lasers market, by type, application, end user, and region, to estimate the overall market size during 2014 to 2021. This report also covers the drivers, restraints, opportunities, and threats of the market along with the competitive landscape of the aesthetic/cosmetic lasers market players.
Reasons to buy this report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn helps firms to garner a greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on aesthetic/cosmetic lasers products and services offered by the top players in the global aesthetic/cosmetic lasers market
- Product Development/Innovation: Detailed insights on research & development activities, and new product launches in the global aesthetic/cosmetic lasers market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for global aesthetic/cosmetic lasers across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global aesthetic/cosmetic lasers market
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of the leading players in the global aesthetic/cosmetic lasers market
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