Aesthetic Lasers Market to Reach USD 2.5 Billion, Globally, by 2031 at 9.3% CAGR: Allied Market Research

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Jan 23, 2023, 08:13 ET

Increase in the number of licensed medical centers to conduct aesthetic lasers procedures, technological advancements in the medical aesthetic industry, and greater acceptance and adoption of aesthetic lasers among the female population drive the global aesthetic lasers market.

PORTLAND, Ore., Jan. 23, 2023 /PRNewswire/ --Allied Market Research published a report, titled, "Aesthetic Lasers Market by Product Type (CO2 Lasers, Erbium Lasers, Pulsed-Dye Lasers, IPL (intense pulsed light), Others), by Application (Skin Resurfacing, Hair Removal, Tattoo Removal, Others), by End User (Hospitals and Clinics, Spas and Beauty Centers): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global aesthetic lasers industry is estimated to generate $1.02 billion in 2021 and $2.5 billion by 2031, witnessing a CAGR of 9.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Drivers, Restraints, and Opportunities

Increase in the number of licensed medical centers to conduct aesthetic lasers procedures, technological advancements in the medical aesthetic industry, increase in the number of product launches by different key players, greater acceptance and adoption of aesthetic lasers among the female population, and surge in self-awareness among population regarding physical appearance fuel the growth of the global aesthetic lasers market. However, high cost of aesthetic lasers procedures hinders the global market growth. On the other hand, the development of products with advanced technologies for aesthetic lasers procedures will present new growth opportunities for the global aesthetic lasers market in the coming years.

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Impact of Covid-19 on Aesthetic Lasers Market-

The outbreak of the Covid-19 pandemic impacted the global aesthetic lasers market negatively.
A number of clinics and hospitals were restructured to increase hospital capacities for patients diagnosed with COVID-19. Non-essential surgical procedures such as aesthetic lasers procedures were cancelled or postponed as more priority was given to the treatment of Covid-19 infected patients. This significantly hampered the revenue of aesthetic companies. Moreover, a sudden sharp cut in monthly income of people had a negative impact on the market.
The market has recovered post the pandemic.

The CO2 lasers segment to dominate during the forecast period

Based on product type, the CO2 lasers segment contributed to the largest share of nearly one-third of the global aesthetic lasers market in 2021, and is expected to maintain a progressive growth during the forecast period. Moreover, the same segment is projected to witness the fastest CAGR of 10.4% from 2022 to 2031, owing to the rise in demand for better and more advanced machining tools and machinery for the treatment of various skin related diseases.

The hair removal segment to maintain a prominent revenue growth in 2031

Based on application, the hair removal segment held the largest share of nearly one-third of the global aesthetic lasers market in 2021, and is expected to maintain a prominent growth during the forecast period, owing to an increase in the number of laser removal procedures, rise in product launches and approvals in the field, and rise in self-awareness among the young population regarding physical appearance. However, the skin resurfacing segment is expected to exhibit the highest CAGR of 11.4% in 2031, owing to an increase in incidences of skin conditions such as wrinkles, acne, skin pigmentation along with the increase in obsession of flawless skin.

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The spas and beauty centers segment to achieve a noteworthy growth during the forecast period

Based on end user, the spas and beauty centers segment held the largest share of more than half of the global aesthetic lasers market in 2021. The same segment is expected to exhibit the highest CAGR of 9.8% in 2031, owing to increased instances of acne scars, increase in surgical and nonsurgical procedures, increase in geriatric populations, and wide availability of trained professionals having utmost experience in providing such treatments.

Asia-Pacific to garner the largest revenue and fastest growth by 2031

Based on region, the market in North America was the largest in 2021, accounting for more than two-fifths of the global aesthetic lasers market, due to the performance of high number of laser aesthetic procedures, increase in number of approvals for aesthetics products, strong presence of key players, and advancements in medical and aesthetic sector in the region. However, the market in Asia-Pacific is likely to dominate in terms of revenue and show the fastest CAGR of 11.2% during the forecast period, due to an increase in geriatric population, rise in awareness among young population regarding aesthetics, growth in healthcare expenditure, and surge in the adoption of laser aesthetics products in the region.

Leading Market Players

Scinton Inc.
Cutera
Lynton Laser
Cynosure Inc. (a division of Hologic Inc.)
Aerolase Corp.
Lutronic
Candela Corporation
Lumenis
Solta Medical Inc. (a division of Bausch Health Companies Inc.)
Alma Lasers (acquired by Shanghai Fosun Pharmaceutical (Group) Co. Ltd.

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