Aesthetic Lasers Market

Aesthetic Lasers Market Outlook (2023 to 2033)

Fact.MR, a market research and competitive intelligence provider, in its recent study, reveals that the global aesthetic lasers market is projected to be valued at US$ 3.3 billion in 2023. Worldwide demand for aesthetic lasers is projected to increase at a CAGR of 9.5% between 2023 and 2033, ultimately reaching a market valuation of US$ 8.2 billion by 2033.

Aesthetic lasers have witnessed a remarkable surge in popularity in recent years with growing global emphasis on personal grooming. This heightened awareness of self-presentation has fueled a steady and substantial expansion of the aesthetic laser industry. Changing lifestyles and increasing importance placed on maintaining a presentable appearance have played a pivotal role in driving the demand for aesthetic lasers in the market.

Integration of technological innovation in aesthetic lasers and the pursuit of personal aesthetics has not only driven market growth but also created a symbiotic relationship between consumers and market players.

Prominent Market Growth Drivers

• Beauty-consciousness driven by social media and the desire to maintain a youthful appearance has aided in the popularity of aesthetic lasers.
• Continuous advancements in medical laser technology have led to the development of the aesthetic lasers market.
• Approvals from regulatory authorities such as the U.S. Food and Drug Administration (FDA) have boosted the efficacy of cosmetic lasers and consumers’ confidence in the safety of aesthetic procedures.
• There is growing preference for minimally invasive or non-invasive aesthetic treatments, which is driving opportunities for aesthetic laser manufacturers.
• As individuals age, demand for safe and efficient aesthetic lasers increases to combat signs of wrinkles, fine lines, and sagging skin.

Over the years, aesthetic lasers have gained popularity in the beauty industry on a global level on the back of increased demand for various aesthetic procedures such as laser hair removal, tattoo removal, skin rejuvenation, and body sculpting/ toning.

Report Attributes	Details
Aesthetic Lasers Market Size (2022A)	US$ 3.01 Billion
Estimated Market Value (2023E)	US$ 3.3 Billion
Forecasted Market Value (2033F)	US$ 8.2 Billion
Global Market Growth Rate (2023 to 2033)	9.5% CAGR
Non-ablative Laser Segment Growth Rate (2023 to 2033)	7.8% CAGR
North America Market Share (2022)	38%
Key Companies Profiled	Alma Lasers Candela Medical Bausch Health Companies Inc. (Solta Medical) Cutera Inc. Lumenis Ltd Cynosure LLC Aerolase Corp. Sciton Inc SharpLight Technologies Ltd Ellex Aesthetic Lasers Ltd Lutronic Lynton Lasers El. En. S.p.A Strata Skin Sciences (formerly Mela Science) Viora

What are the Main Catalysts Driving the Demand for Aesthetic Laser Treatment?

“Wider Range of Application and Versatility of Aesthetic Lasers”

Aesthetic lasers can treat various skin conditions and concerns, from hair removal to tattoo removal and skin rejuvenation. The ability of aesthetic lasers to address such a broad range of concerns makes them attractive to both patients and practitioners. Healthcare professionals can offer a variety of treatments and patients can avail them for multiple aesthetic issues in one place, elevating the market's appeal.

Application of aesthetic lasers goes far beyond traditional cosmetic procedures. They help individuals enhance their physical appearance. Laser hair removal has dominated the market due to its widespread acceptance and rising demand. In 2022, hair removal treatments accounted for a market share of around 76%.

“Interconnectedness of Economies and Cultures around the World and Easy Accessibility of Treatments”

Globalization has played a significant role in reshaping the landscape of the aesthetic lasers business. It has led to market expansion beyond its traditional strongholds, with rapid growth in emerging regions such as Asia Pacific and the Middle East & Africa. This expansion is driven by rising disposable income, evolving beauty standards, and heightened awareness of aesthetic procedures.

Globalization has also facilitated medical tourism, where individuals seek cosmetic treatments in foreign countries, and it has encouraged cross-border trade, allowing manufacturers to establish global networks.

Which Factors are Limiting the Growth of Market Players?

“High Cost of Aesthetic Laser Treatment and No Insurance Coverage”

The cost of aesthetic laser treatments is a significant deterrent for many potential patients. These procedures can be relatively expensive compared to other cosmetic treatments or skincare products. Aesthetic laser treatments are generally considered elective procedures and are not covered by health insurance. This means that patients must pay for treatments out of pocket, which can strain their financial resources.

Cost barriers can limit accessibility, selectively attracting individuals with higher disposable incomes, leading to competitive pressures and market fragmentation. To address this challenge, some providers offer financing options and package deals, aiming to make treatments more financially accessible. As technology advances, there may be a gradual reduction in treatment costs, broadening the demographic of patients able to benefit from aesthetic laser procedures.

How Can Start-ups Venture into This Competitive Market?

“Offer Cost-effective Treatments and Focus on Innovating Technologies”

New companies entering the market for aesthetic lasers should prioritize providing affordable treatments to address a diverse consumer base. Offering cost-effective solutions will narrow the accessibility gap between consumers and industry players. Investing in research, development, and innovative technologies would help align with consumer preferences for convenience and comfort when choosing aesthetic procedures.

• Sensus Healthcare, Inc. unveiled Silk by Sensus, a portable hair removal laser system featuring a blend of wavelengths in 2022. The company is known for its highly efficient, non-invasive, and minimally invasive treatments for both oncological and non-oncological conditions.

Country-wise Insights

North America led the aesthetic lasers industry in 2022 with a market share of 38% and the market is forecasted to exponentially grow during the forecast period. The Asia Pacific region held a market share of 25% in 2022 and this regional market is projected to grow faster than the others over the next ten years.

Why is the United States a Key Market for Aesthetic Laser Procedures?

“Presence of Skilled Professionals and High Adoption of Non-invasive Procedures”

Increasing prevalence of skin problems, rising awareness about non-invasive aesthetic treatments, a culture of continuous improvement in technology, increased demand for aesthetic services, and widespread adoption of safe and effective non-invasive advancement in aesthetic procedures have all contributed to market expansion. These factors have combined to create a competitive and innovative environment, propelling the United States to the forefront of the global aesthetic laser industry.

• In 2021, 542,605 facial rejuvenation and 391,855 non-surgical skin tightening procedures were performed, according to the International Society of Aesthetic Plastic Surgery.

Growing number of skilled professionals, increase in disposable income, and ongoing research and innovation in the field are the main factors driving the demand for aesthetic procedures in the United States.

Why is India Considered a Promising Market in the Asia Pacific Region?

“Increasing Awareness and Growing Opportunities in Medical Tourism”

With rising disposable income, increased awareness of aesthetic treatments, and a diverse population with varying skin types and concerns, there is an increasing demand for non-invasive and minimally invasive solutions to skin-related issues such as wrinkles, pigmentation, and unwanted hair.

Affordability of aesthetic lasers, favorable regulatory environment, growing number of aesthetic clinics, and cultural factors emphasizing beauty and appearance all contribute to the region's dynamic and expanding market. Furthermore, rising number of males seeking treatments such as laser hair removal and skin rejuvenation adds to the customer base, ensuring continued growth in demand for aesthetic laser treatment over the coming years.

Medical tourism has helped people avoid long queues and prolonged waits for treatment in their country or city and has allowed them to travel elsewhere to avail the best quality treatment. India offers profitable opportunities for key suppliers of aesthetic laser machines, thereby projecting exponential growth for the forecast period.

• In India, in 2020, around 70,416 facial rejuvenation procedures were performed, according to the International Society of Aesthetic Plastic Surgery.

Category-wise Insights

Based on type, the non-ablative lasers segment leads the market. According to the American Society of Plastic Surgeons, approximately 566,739 laser resurfacing procedures were carried out in the United States.

Why Do Most Patients Opt for Non-ablative Laser Treatments?

“Non-ablative Laser Treatment Offers Less Invasive Procedure and Has Less Recovery Period”

The non-ablative lasers segment is projected to expand at a CAGR of 7.8% between 2023 and 2033.

Non-ablative lasers are less invasive than ablative lasers because they target the dermis beneath the skin without removing the top layer. They are widely preferred for patients with milder skin concerns and who want a shorter recovery period. Non-ablative lasers are commonly used for skin rejuvenation, fine line and wrinkle reduction, and the treatment of conditions such as rosacea and uneven pigmentation. These lasers may require multiple sessions to achieve the best results but still have the benefit of shorter recovery times. Non-ablative laser treatment commonly includes fractional lasers and pulsed dye lasers.

Competitive Landscape

Aesthetic laser manufacturers are actively pursuing innovation to offer advanced laser aesthetics devices. Key market players are focusing on strategies such as product launches and expanding both their product and geographic presence to meet the growing demand for aesthetic lasers.

• Solta Medical, a division of Bausch Health Companies, announced the launch of the Clear + Brilliant Touch Laser in March 2021. It offers a more comprehensive and customized treatment protocol with the benefits of two wavelengths to patients of all ages and skin types.
• Cynosure Inc., in June 2022, launched a new device, PicoSure Pro, for advanced laser treatment to treat skin pigmentation and skin revitalization. The device is manufactured with a platinum focus lens array, which increases the secretion of collagen and reduces wrinkles.

Alma Lasers, Candela Medical, Bausch Health Companies Inc. (Solta Medical), Cutera Inc., Lumenis Ltd, Cynosure LLC, Aerolase Corp., Sciton Inc., SharpLight Technologies Ltd, Ellex Aesthetic Lasers Ltd, Lutronic, Lynton Lasers, El. En. S.p.A, Strata Skin Sciences (formerly Mela Science), and Viora are some of the top aesthetic laser manufacturing companies.

Segmentation of Aesthetic Lasers Industry Research

• By Type :

  • Ablative
  • Non-Ablative

• By Application :

  • Hair Removal
  • Tattoo Removal
  • Body Sculpting/Toning
  • Skin Pigmentation
  • Skin Rejuvenation

• By End User :

  • Clinics
  • Medical Spas
  • Hospitals
  • Dermatologists
  • Beauty Centers

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa