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Aesthetic Lasers and Energy Devices Market to Reach $9.53 Bn, Globally, by 2026 at 10.5% CAGR: Allied Market Research
PORTLAND, Oregon, Nov. 14, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Aesthetic Lasers And Energy Devices Market by Product (Laser Resurfacing Devices, Body Contouring Devices, and Aesthetic Ophthalmology Devices), Technology (Laser-Based Technology, Light-Based Technology, and Energy-Based Technology), and Application (Hair Removal, Scar Removal and Skin Resurfacing, Skin Rejuvenation, Skin Tightening, and Others), and End User (Multi Specialty Centers, Standalone Centers, and Cosmetic Surgery Centers & Clinics): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global aesthetic lasers and energy devices market garnered $3.96 billion in 2018, and is expected to garner $9.53 billion by 2026, growing at a CAGR of 10.5% from 2019 to 2026.
Prime determinants of growth
Rise in awareness regarding medical aesthetics, advancements in aesthetic devices, and surge in rate of obesity across the globe drive the global aesthetic lasers and energy devices market. However, high costs related to these procedures hinder the market growth. On the other hand, surge in medical tourism, increase in adoption of body contouring, and potential in untapped economies would offer lucrative opportunities.
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The laser-based technology segment to continue its dominant position by 2026
Based on technology, the laser-based technology segment held nearly two-fifths of the total share of the global aesthetic lasers and energy devices market in 2018, and is estimated to continue its dominant position throughout the forecast period. This is due to rise in adoption for skin rejuvenation and body contouring purposes. However, the light-based technology segment is expected to register the highest CAGR of 11.6% from 2019 to 2026, owing to preference for this technology for skin treatments.
The skin tightening segment to maintain its lead throughout the forecast period
Based on application, the skin tightening segment held the highest market share in the global aesthetic lasers and energy devices market in 2018, contributing for more than one-third of the total share, and will maintain its lead in terms of revenue by 2026. This is due to huge usage of aesthetic lasers for skin tightening purposes by baby boomers. However, the skin rejuvenation segment is estimated to register the fastest CAGR of 13.8% from 2019 to 2026.
North America to continue its dominant position during the forecast period
Based on region, North America accounted for the largest market share in terms of revenue, holding nearly two-fifths of the global aesthetic lasers and energy devices market in 2018, and is expected to continue its dominant position during the forecast period. This is due to supportive reimbursement policies in healthcare systems, huge number of target population, and presence of major key players. However, Asia-Pacific is expected to grow at the highest CAGR of 12.7% from 2019 to 2026, owing to rise in awareness and untapped potential in emerging countries.
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- Leading market players
- Allergan Plc.
- Bausch Health Companies Inc.
- Candela Medical, Hologic, Inc.
- Energist Medical Group
- Fotona, Inc.
- Lumenis, Ltd.
- Lutronic, Inc.
- Sisram Medical Ltd.
- Sciton, Inc.
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