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Significant Increase In The Preference For Non-Aesthetic Procedures is driving the growth of the Cosmetic Laser Market

HYDERABAD, TELANGANA, INDIA, January 18, 2023 /EINPresswire.com/ -- The Cosmetic Laser Market size was valued at $2,378 million and is anticipated to reach $5,743 million by the end of 2026 growing at a CAGR of 6.0% during the forecast period 2021-2026. The cosmetic laser industry growth rate is attributed to the increasing demand for ageing baby boomers as well as surplus income with the middle class to spend on cosmetic surgeries and is anticipated to bring new opportunities. Cosmetic laser is a therapy that reduces vascular lesions, facial wrinkles and skin tightening, such as blemishes or acne scars. This technique directs brief, concentrated pulsating beams of light on uneven surfaces of skin, which precisely removes skin layer by layer and is also known as lasabrasion technique, laser peel, or laser vaporization. It is used to treat many medical conditions such as ageing skin problems, age spots, fine lines, wrinkles on the face birthmarks, spider veins, droopy, dry, sagging eyelid skin, and dark circles. Further, it can also be used in uneven skin tone correction and texture, smokers’ lines, etc. Moreover, the cosmetic laser market creates a great opportunity to expand its wings. Manufacturers' continuous cosmetic laser techniques worldwide are also driving the laser market during the forecast period.

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Key Takeaways

1. North America dominated the Cosmetic Laser market with a share of 38.16%.

2. The factors such as the growing adoption of noninvasive procedures, changing lifestyles, and rising incidence of skin damage are among the major factor projected to impel the growth of the cosmetic laser market.

3. Additionally, factors such as reduction in procedural costs and rise in medical tourism devices are to create opportunities paving a way for the growth in the market during the forecast period 2021-2026.

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Segmental Analysis:

1. In 2020, on the basis of application, the hair removal segment accounted for the largest segmental revenue of the cosmetic laser market. The laser hair removal segment held the largest market on account of the growing cosmetic laser consciousness and the cost of the hair removal process is comparatively less than other cosmetic procedures making it affordable and cheaper in the long run thereby, positively impacting the segment growth. Furthermore, conventional hair removal techniques prove to be time-consuming and are not feasible in the current fast-moving lifestyle. On the contrary, the skin tightening segment is projected to witness healthy growth throughout the forecast period 2021-2026 with a CAGR of 6.89%.

2. On the basis of end users, the hospital segment accounted for the largest segmental revenue of the cosmetic laser market in 2020 owing to the increasing number of hospitals with laser treatment facilities is anticipated to drive the segment growth. On the other hand, the skin care clinics segment is projected to dominate over the forecast period 2021-2026 with a CAGR of 6.5%. All these factors are to drive the segmental market growth. North America is the major region dominating the cosmetic laser market with a market share of 38.16% in the year 2020.

3. North America is the major region dominating the cosmetic laser market with a market share of 38.16% in the year 2020. This can be attributed to the growing consciousness amongst the elderly population and rapid technological advancements. Also, the manufacturers compete closely for market share in this region. However, Asia-Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to its large ageing population base and comparatively lesser procedures costs.

Competitive Landscape:

The top 5 players in the Cosmetic Laser Industry are -

1. Alma
2. Candela
3. Cutera
4 . Cynosure
5. Deka

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