CAGR: 9.7%Current Market Size: USD 958.4 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global aesthetic medical laser systems market is expected to grow from USD 958.4 million in 2022 to USD 2010.0 million by 2030, at a CAGR of 9.7% during the Projection period 2023-2030. The growth of the aesthetic medical laser systems market is mainly driven by the rise in beauty concerns.
Various therapies or treatments for hair removal, acne and scarring, skin rejuvenation, pigmented lesions, and leg and varicose veins are provided using aesthetic medical laser systems. They come in a variety of laser types, including pulsed dye lasers, diode lasers, carbon dioxide (CO2) lasers, and Er:YAG (erbium YAG) lasers. Due to the ageing of the baby boomer generation and the predominance of middle-class spare cash to be used for aesthetic procedures, the demand for lasers is expected to increase quickly. Since they were deemed unnecessary and high contact in nature, the COVID-19 epidemic forced numerous beauty clinics to entirely halt their services and permanently cancel appointments. Due to the pandemic, surgical cosmetic procedures like aesthetic laser treatments also experienced a setback and saw a significant drop in procedure volume in the first and second quarters of 2020. The market for aesthetic lasers is also being stimulated by the rising popularity of radiofrequency-based therapies. In addition to being fully non-invasive, radiofrequency-based devices like Picoway, LaseMD, FraxPro, and Pixel CO2 have shown to be useful in treating a variety of skin disorders. Candela Medical's PicoWay is a picosecond laser platform that produces extremely brief pulses with high peak power for a photoacoustic effect. Tattoo removal, skin rejuvenation & toning, and pigmented lesions are all treated with the platform.
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Market Dynamics:
Drivers:
Over the Projection period, the increasing prevalence of ocular illnesses is expected to drive growth in the worldwide medical laser systems market. According to a study published in the Journal of Global Health in June 2018, 'The national and subnational prevalence of cataract and cataract blindness in China: a systematic review and meta-analysis,' the prevalence of any cataract ranged from 6.71% in people aged 45-49 years to 73.01% in elderly males aged 85-89 years. Furthermore, increased aesthetic appeal is projected to boost market expansion. According to a 2018 survey by the American Society of Plastic Surgeons, about 594,266 laser skin resurfacing operations were conducted in the United States.
Restraints:
Stringent rules are projected to stymie market growth. Certain lasers can harm the eyes and skin if they are exposed to them. Because of the human body's vulnerability to some lasers, a range of laser safety standards, including Federal Regulations, State Regulations, and non-regulatory norms, have evolved. The American National Standards Institute's Z136 series of laser safety standards is the most often utilized standard in the healthcare sector. Furthermore, high failure rates and negative impacts are projected to hinder market expansion. Laser treatment has a high failure rate and can result in permanent adverse effects such as dry eyes, over or under-correction, double vision, epithelium degradation, and glare.
Opportunities:
Diabetes is predicted to increase in prevalence, providing lucrative potential possibilities for participants in the worldwide medical laser systems market. According to a study published in the journal Diabetes Research and Clinical Practice in September 2019, "Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition," 463 million people are expected to suffer from diabetes in 2019, with the number expected to rise to 578 million by 2030 and 700 million by 2045. Furthermore, expansion into new regions is projected to contribute in market growth. LTB Lasertechnik Berlin GmbH, for example, founded LTB Laser Technologies, Inc. in California, U.S., in May 2020.
Challenges:
People's safety concerns about aesthetic laser treatment, as well as the high cost of treatment, are important factors limiting the growth of the aesthetic laser device industry. According to the Information Services Division Legislative Council Secretariat, four ladies in Hong Kong suffered from septic shock as a result of intravascular infusions at a beauty treatment clinic in 2012. One woman died as a result of multiple organ failure, while the others were critically ill. Furthermore, a woman died in 2014 after receiving liposuction at a hair transplant centre in Hong Kong. Such occurrences spread a negative perception and significantly erode customer confidence in the use of such lasers. This necessitates the introduction of rigorous regulations in this area.
Segmentation Analysis:
The global aesthetic medical laser systems market has been segmented based on device type, application, end-user and region.
By Device Type
The device type segment is gas lasers, diode lasers, dye lasers, and solid state. The solid state led the largest share of the aesthetic medical laser systems market with a market share of around 45% in 2022. Various advantages connected with solid-state lasers, such as higher efficiency than gas lasers, simpler construction compared to other lasers, and the low cost of solid-state lasers, are driving the market expansion of this category. Solid-state lasers are utilised in medical applications to research the interactions of laser radiation with biological tissue in ophthalmology, dentistry, cardiology, and dermatology. The usage of solid-state lasers in medical applications, such as treatment processes for scar removal, melisma treatment, and skin resurfacing, has motivated different healthcare companies to embrace these lasers to perform treatments.
By Application
The application segment is pigmented lesions & tattoos, skin rejuvination, hair removal, vascular lesions, leg veins & varicose vein and others. The hair removal segment led the largest share of the aesthetic medical laser systems market with a market share of around 39.3% in 2022. Around 757,808 laser hair removal procedures were carried out in the United States, according to the 2020 Plastic Surgery Statistics Report, making it one of the most popular non-surgical procedures. Additionally, the market is being driven by the availability of small and portable systems. A further factor driving category expansion is the introduction of system components that may be upgraded with a cutting-edge user interface without altering the entire device.
By End-User
The end-user segment is hospital, medical spas, and private clinics. The hospital led the largest share of the aesthetic medical laser systems market with a market share of around 45% in 2022. Hospital is the most trusted place for medical treatments as they have specialised doctors for performing surgeries.
Global Aesthetic Medical Laser Systems Market - Sales Analysis.
The sale of the aesthetic medical laser systems market expanded at a CAGR of 4% from 2016 to 2022.
An growth in aesthetic awareness and the availability of various aesthetic treatments on the market are results of increased social media exposure. The result is that people all across the world are always concerned with looking young. According to the United Nations, there were 703 million individuals worldwide who were 65 or older in 2019, and by 2050, it is expected that there will be 1.5 million elderly people. Therefore, the older population chooses anti-aging and skin tightening laser operations that have a high success rate, little recovery time, and great patient comfort in an effort to minimise the indications of ageing.
In recent years, there has been an increase in the desire for minimally invasive procedures. Compared to invasive surgeries, these procedures have benefits such smaller incisions, faster wound healing, less pain, less surgical wounds, and a lower risk of problems. Additionally, the effectiveness and outcomes of the current minimally invasive surgical procedures are comparable to those of traditional surgical procedures. According to the International Society of Aesthetic Plastic Surgery, approximately 1,837,052 hair removal treatments were performed globally in 2020.
Thus, owing to the aforementioned factors, the global aesthetic medical laser systems market is expected to grow at a CAGR of 9.7% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the aesthetic medical laser systems market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the aesthetic medical laser systems market and held a 38.2% share of the market revenue in 2022.
Global Aesthetic Medical Laser Systems Market - Country Analysis:
Germany's aesthetic medical laser systems market size was valued at USD 71.8 million in 2022 and is expected to reach USD 142 million by 2030, at a CAGR of 9.8% from 2023 to 2030. Demand for laser cosmetic procedures such as body contouring, skin tightening, hair removal, dermabrasion, acne, wrinkles, and skin rejuvenation has increased. Aesthetic laser devices are favored over other devices for a variety of reasons, including their ease of use, low invasiveness, and shorter treatment time. People's awareness of aesthetics is increasing, as is the adoption of procedures, and the affordability of advanced treatments such as acne and scar removal. These factors are projected to drive demand for medical lasers.
China’s aesthetic medical laser systems market size was valued at USD 74.7 million in 2022 and is expected to reach USD 160.1 million by 2030, at a CAGR of 10% from 2023 to 2030. Over the Projection period, the increasing prevalence of ocular illnesses is expected to drive growth in the worldwide medical laser systems market. According to a study published in the Journal of Global Health in June 2018, 'The national and subnational prevalence of cataract and cataract blindness in China: a systematic review and meta-analysis,' the prevalence of any cataract ranged from 6.71% in people aged 45-49 years to 73.01% in elderly males aged 85-89 years.
India's aesthetic medical laser systems market size was valued at USD 57.5 million in 2022 and is expected to reach USD 122.3 million by 2030, at a CAGR of 9.9% from 2023 to 2030. In developing economies such as India, the population is showing a strong readiness and desire to undergo aesthetic procedures. According to the International Society of Aesthetic Plastic Surgery, approximately 70,416 face rejuvenation treatments will be performed in India in 2020. Furthermore, rising medical tourism in emerging markets is likely to drive the regional industry.
Key Industry Players Analysis:
To increase their market position in the global aesthetic medical laser systems market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Mnetrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
9.7% |
Market Size |
958.4 million in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Device Type, By Application, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Solta Medical Inc., Cynosure, Inc., Lumenis, Syneron Medical Ltd., STRATA Skin Sciences (formally Mela Science), Lynton Lasers, Cutera, Lutronic, Viora, and Sciton, Inc. |
By Device Type |
|
By Application |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Aesthetic Medical Laser Systems Market By Device Type:
Global Aesthetic Medical Laser Systems Market By Application:
Global Aesthetic Medical Laser Systems Market By End-User:
Global Aesthetic Medical Laser Systems Market By Region:
Global aesthetic medical laser systems market is expected to reach USD 2010.0 million by 2030.
The aesthetic medical laser systems market is projected to have a CAGR of 9.7%.
Over the Projection period, the increasing prevalence of ocular illnesses is expected to drive growth in the worldwide medical laser systems market. According to a study published in the Journal of Global Health in June 2018, 'The national and subnational prevalence of cataract and cataract blindness in China: a systematic review and meta-analysis,' the prevalence of any cataract ranged from 6.71% in people aged 45-49 years to 73.01% in elderly males aged 85-89 years. Furthermore, increased aesthetic appeal is projected to boost market expansion. According to a 2018 survey by the American Society of Plastic Surgeons, about 594,266 laser skin resurfacing operations were conducted in the United States.
Leading market players active in the global aesthetic medical laser systems market are Solta Medical Inc., Cynosure, Inc., Lumenis, Syneron Medical Ltd., STRATA Skin Sciences (formally Mela Science), Lynton Lasers, Cutera, Lutronic, Viora, and Sciton, Inc.among other.
Based on the application, the global aesthetic medical laser systems market has been segmented into pigmented lesions & tattoos, skin rejuvination, hair removal, vascular lesions, leg veins & varicose vein and others.
Political Factors- The Aesthetic Medical Laser Systems market should thoroughly investigate the right taxation policies before considering whether to expand. Tax policy will benefit industries that are high on the government's priority list more. Many developing-country governments are actively striving to decrease corporate taxes in order to attract foreign direct investment. These nations should be considered by the Aesthetic Medical Laser Systems industry because their low tax rates will make it easier to generate a profit and invest in R&D, innovation, and new product development projects.
Economical Factors- Rising inflation reduces the purchasing power of money and inhibits consumers from spending on goods and services, which may limit the Aesthetic Medical Laser Systems market's potential to grow income. Exchange rate fluctuations can have an impact on a company's profitability. This study should be conducted in the Aesthetic Medical Laser Systems market in order to precisely Projection exchange rate movements and avoid unfavourable trade and business performance consequences. A high interest rate means that the Aesthetic Medical Laser Systems market will have to make interest-only payments, which raises the overall cost of the loans obtained.
Social Factor- Trends in consumption and economic difficulties are intricately intertwined. The Aesthetic Medical Laser Systems market benefits from exciting growth possibilities when customers have more discretionary income and are willing to spend more on goods and services to improve their lifestyles. This is because it is easier to introduce new products and services to these clients, and revenue growth prospects are also better. The Aesthetic Medical Laser Systems industry must closely examine the consumption/spending habits and tastes of current consumers, who are increasingly demanding, in order to alter its marketing mix strategies. The baldness market must also determine whether consumption is driven by hedonic or utilitarian motivations. The degree of ethnocentrism is a crucial consumer behaviour component that might effect the success of the Aesthetic Medical Laser Systems market.
Technological Factors- The Aesthetic Medical Laser Systems market should favour nations with advanced technical infrastructure because these countries make it simpler for businesses to pursue goals like as cost reduction, innovation, and value creation. A well-developed technological infrastructure also signals that it will be more difficult for the Aesthetic Medical Laser Systems market to employ technology to generate a permanent competitive advantage because it might be readily reproduced by competitors. The term "innovation" refers to the process of identifying and implementing new products and services in order to increase the value of a product or service.
Environmental Factors- The Aesthetic Medical Laser Systems market should favour nations with advanced technical infrastructure because these countries make it simpler for businesses to pursue goals like as cost reduction, innovation, and value creation. A well-developed technological infrastructure also signals that the Aesthetic Medical Laser Systems market will find it more difficult to leverage technology to generate a permanent competitive advantage because it may be readily reproduced by competitors. The Aesthetic Medical Laser Systems market can improve client experience, generate operational savings, and establish itself as an innovative organisation by making the right technical investments
Legal Factors- Employment law is a vast range of laws that preserve employees' rights, such as the right to a fair wage, equality, equity, inclusion, justice, and physical and mental safety. While some countries do not police employment laws effectively, others impose severe fines for violating any of the listed employee rights. The Aesthetic Medical Laser Systems market should safeguard the safety of the working environment when entering or operating in such countries. Appropriate systems must be in place to prevent discrimination, both direct and indirect. In today's competitive labour market, effective adherence to employment rules can help the Aesthetic Medical Laser Systems market strengthen its employer brand reputation, which is critical for attracting and maintaining top personnel.
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