Global Cosmetic Lasers Market is anticipated to grow at a 13.4% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Cosmetic Lasers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global cosmetic lasers market is estimated to be over US$ 1,500 Mn in 2018. It is anticipated to grow at a CAGR of 13.4% from 2019 to 2030.
The continual growth of the cosmetic lasers market can be attributed to several factors which have led to wide scale adoption of these products which are extensively used to improve physical appearance of patients. Moreover, the growing demand for cosmetic treatments and therapies across the globe is anticipated to further contribute to the substantial growth of the global cosmetic lasers market between 2019 and 2030. To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. The Anglia Ruskin University, based in England, has entered into an agreement with Allergen Inc., a cosmetic lasers company, to develop educational program for practicing physicians in the Asia Pacific region on facial aesthetics.
Rise in Medical Tourism
Over the years, the emergence of medical tourism as a popular and profitable industry has played a vital role in contributing to the growth of the global cosmetic lasers industry. Several countries, namely India, Turkey, Thailand, Brazil and other developing countries have emerged as essential contributors to global medical tourism industry. Multiple factors have been responsible for attracting patients to tour worldwide for medical treatments. Cost effectiveness, availability of personalized and tailor-made services, better facilities, convenience, and advanced technologies have been vital in contributing to the medical travel facilities. In 2017, it was estimated that the total number of medical tourists across all countries was a staggering 14-16 million. It is further expected that the number of medical tourists travelling abroad seeking treatments will additionally increase at a rate of 25% every year. Cosmetic laser treatments have been one of the most lucrative therapy segments which have witnessed lucrative increment in terms of the number of medical tourist over the past few years. Attractive pricing coupled with availability of advanced technology has been a major driver for the global cosmetic lasers market, which is further anticipated to grow in the coming years.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Cosmetic Lasers Market by Product (Nd:YAG, Carbon Dioxide, Pulse Dyed-Laser (PDL), Diode and Er:YAG), Modality (Multiplatform and Standalone), Application (Hair Removal, Vascular Lesions, Body Contouring, Skin Resurfacing, and Scar & Acne Removal), End Users (Hospitals, Dermatology Clinics and Medical Spas) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/cosmetic-lasers-market/47
Increasing Adoption of Minimally-Invasive Procedures
Since the advent of minimally-invasive procedures, the adoption of such procedures have witnessed substantial growth in recent times. Shorter hospital admittance time, lesser procedure associated pain and fewer complications have been pivotal in contributing to the growing adoption of minimally-invasive procedures. According to the American Society of Plastic Surgeons (ASPS), the numbers of Americans opting for minimally-invasive cosmetic procedures have witnessed a growth of nearly 200% since 2000. In 2017, the total number of cosmetic procedures performed in U.S. was nearly 1.8 million. Growing preference for minimally-invasive cosmetic laser procedures in anticipated to further propel the growth of the cosmetic lasers market.
Complications And Risk Related Associated with Cosmetic Procedures to Restrain the Market
Various complications and risk related associated with cosmetic laser procedures have been affecting the growth of the cosmetic lasers industry inversely. Several complications such as nerve damage, infections, seroma and pulmonary embolism are known to cause serious adverse effects as a result of laser treatment procedures. Similarly, patients have reported granulomas, and infections as long-term adverse effects caused as a result of cosmetic procedures.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing population, continuously growing economy, rising medical tourism and increasing awareness regarding cosmetic treatment, increasing preference for minimally invasive procedures and adoption of latest technologies is anticipated to present a lucrative growth scenario for the cosmetic lasers market in this region. Furthermore, attractive procedure rates, coupled with supportive government healthcare regulations and norms is expected to present an attractive growth prospect for the market in the coming years.
Major Players in the Cosmetic Lasers Market
The prominent players in the global cosmetic laserss market are Cutera, Inc, Cynosure (Hologic Inc.), Alma Lasers, Ltd. (Fosun Pharmaceutical Co., Ltd.), SharpLight Technologies Inc, Aerolase Corp., Syneron Medical Ltd., Sciton, Inc., Solta Medical, Inc., Lumenis Ltd and El.En. S.P.Aamong others.
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