Aesthetic Lasers And Energy Devices Market 2022
The global Aesthetic Lasers And Energy Devices Market is expected to go great guns in the next 10 years. It is slated to reach US$ 3,267.3 Mn by the year 2028. The CAGR would be 6.1%. With mixed reality in the foray, virtual objects could be integrated with the real-life ambience, thereby rendering simultaneous manipulation of digital twins. In other words, digital twinning is expected to be the future of healthcare vertical in the forecast period.
Over the years, there has been tremendous advancements in aesthetic lasers & energy devices. In particular, laser based technologies have contributed immensely to various skin and dermal based cosmetic applications and treatments. This has resulted in growth of the global aesthetic lasers & energy devices market.
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It can be noted that rise in technological advancements in aesthetic lasers & energy devices coupled with increasing number of skin related problems are anticipated to increase the demand for aesthetic lasers & energy devices globally. According to the latest research by the company, the global aesthetic lasers & energy devices market is anticipated to account for over US$ 3,267.3 Mn, in terms of value, by 2028 end.
Company Profile
- Hologic Inc. (Cynosure, Inc.)
- Lumenis
- Syneron Medical Ltd.
- Lynton Lasers Ltd
- EL.EN. S.p.A. (Deka Mela S.r.l.)
- Fotona
- Cutera, Inc.
- Lutronic Corporation
- Beijing Nubway S & T Co., Ltd
- Others.
The report on aesthetic lasers & energy devices is expected to show significant growth potential with an average Y-o-Y growth rate pegged at 6.1% through 2028.
Increase in global warming leading to skin irritation, skin burns and skin damage and other skin related problems is expected to drive the market of aesthetic lasers & energy devices. It can be noted that acne causes major physical changes in skin alteration and damage.
Furthermore, nearly 85% of people aged between 12 and 24 globally experience acne. However, the most common aesthetic lasers & energy devices used for non-invasive treatment for acne is scarring and laser resurfacing.
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The effectiveness of aesthetic lasers & energy devices are widely accepted in cosmetology and other dermal treatments for the treatment of a variety of cutaneous complexities. Such skin problems is expected to trigger the growth of the global aesthetic lasers & energy devices market over the forecast period.
Manufacturers are adopting strategic approaches in order to increase the product reach in the aesthetic lasers & energy devices market. The market for aesthetic lasers & energy devices is anticipated to grow due to increasing demand for aesthetic lasers & energy devices for non-invasive dermal treatments, frequent product approvals and advancements in aesthetic lasers & energy devices technology, strategic developments such as high level of market competition, long terms collaborations, acquisitions, mergers and like mergers and collaboration agreements.
Companies operating in the aesthetic lasers & energy devices market are also continuously focusing on increasing the product penetrations of aesthetic lasers & energy devices reach globally. To safeguard such strategies, these companies are adopting distribution agreements as an expansion to strategically gain maximum revenue share in the global aesthetic lasers & energy devices market.
Furthermore, advancements in mainly in laser based technologies over the years is likely to contribute in various applications of dermal treatments, which will drive the growth of the global aesthetic lasers & energy devices market.
Other macroeconomic indicators such as increase in healthcare spending, hospital budgeting for equipment procurement and providing quality service will help in usage of quality equipment and thus drive the growth of the global aesthetic lasers & energy devices market. According to the IMF forecasting, healthcare spending is expected to increase by over 6% yearly, based on the current GDP forecast.
On the grey side, high treatment cost and adverse side effects related to the aesthetic lasers & energy devices market may hamper the growth of the global aesthetic lasers & energy devices market.
Treatment with aesthetic lasers & energy devices market, including surgical and non-invasive procedures, are associated with high costs making them inaccessible to people in the low middle-income countries. Also, non-invasive treatments with aesthetic lasers & energy devices market require a series of sessions to achieve the desired result, which results in a high overall cost of the treatment.
Furthermore, the duration of treatment, number of sessions and the cost of treatment depend on the area being treated. These factors are directly responsible for dropping the growth of the global aesthetic lasers & energy devices market.
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According to the company, the laser based product equipment segment accounted for over 65.9% revenue share in the overall aesthetic lasers & energy devices market in 2017. However, the growing popularity of LED and IPL might limit the segment’s growth in the near future. Asia Pacific region of aesthetic lasers & energy devices market is expected to be the most lucrative market in the global aesthetic lasers & energy devices market equipment market during the forecast period.
The company has segmented the global aesthetic lasers & energy devices market equipment market into Intense Pulsed Light (IPL) Equipment, Laser Equipment, and LED Equipment, Infrared and ultraviolet based equipment. In terms of revenue, the laser based equipment segment in aesthetic lasers & energy devices will hold maximum revenue share over the forecast period.
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