In the past few years, the cosmetic industry has found new bioactive and high potency ingredients, which offer noticeable skin benefits to consumers. Various technological advancements in the esthetic industry, increase in disposable income, surge in awareness about skin rejuvenation & appearance are the major factors driving demand for esthetic procedures in developed as well as developing markets. The trend of adoption of innovative and advanced surgical devices in the esthetics market has continued in the past few years.
However, rapid growth has been witnessed in non-invasive procedures that involve the use of lasers and energy devices. Laser and energy devices include lasers, light-based systems, ultrasound devices, and radio frequency based devices. These devices often use a combination of energy types in order to provide the most effective therapy. Esthetic laser and energy devices are most commonly used in skin and hair treatment, including applications such as skin rejuvenation, tattoo removal, and skin tightening.
The global esthetic lasers and energy devices market can be segmented based on product type, application, end-user, and region. In terms of product type, the global market can be classified into body contouring devices, laser resurfacing devices, and cosmetic ophthalmology devices. The body contouring devices segment can be categorized into fat reduction devices, liposuction devices, skin tightening devices, and cellulite reduction devices.
The laser resurfacing devices segment can be bifurcated into conventional devices and fractional ablation skin resurfacing devices. The laser resurfacing devices segment is anticipated to account for major share of the market owing to technological advancements, rise in research and developmental, and new product launches.
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Manufacturers are making continuous progress in terms of research and development to create products with advanced technologies. Adoption of laser-based devices is increasing because of the technological advancements and widening utility of laser devices. In March 2016, Venus Concept’s Venus Versa system was approved by the U.S. FDA for more than 20 applications including skin resurfacing and hair removal. Moreover, the system was approved for treatment of facial wrinkles, acne vulgaris, vascular lesion, skin rejuvenation, and facial rhytides.
Based on application, the global esthetic lasers and energy devices market can be divided into liposuction & skin tightening, hair removal, scar removal & skin resurfacing, ophthalmic application, and skin rejuvenation. Obesity is a significant problem globally that affects large number of people. Rise in obesity drives adoption of non-invasive liposuction procedures. Liposuction was the most popular procedure performed in the U.S. in 2016 and is expected to witness highest CAGR during the forecast period. Hence, rise in obese population globally and increase in per capita income are expected to drive the segment in the near future.
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In terms of end-user, the global esthetic lasers and energy devices market can be categorized into hospitals, cosmetic centers & dermatology clinics, and ambulatory surgery centers (ASCs). The ASCs segment is anticipated to grow at rapid pace due to rise in demand for ambulatory surgery centers in developed countries. Ambulatory surgical centers provide modern health care facilities and focus on providing same-day surgical care. Patients prefer ASCs over hospitals because of cost-effective services, after care provided by ASCs, and use of minimal invasive surgeries which help patients to recover early. A study conducted by the Texas Ambulatory Surgery Center Society stated that nearly 75% of all surgeries is performed at ASCs in developed regions.
Geographically, the global esthetic lasers and energy devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in terms of revenue in 2017 and the trend is expected to continue during the forecast period. Surge in awareness and adoption of various non-invasive esthetic services, improving health care infrastructure, and rise in incidence of skin disorders are anticipated to boost the growth of the market in the region. Moreover, increase in demand for cosmetic treatments among the male population and access to user-friendly esthetic devices are the key factors fuelling the growth of the esthetic lasers and energy devices market in the near future.
Key players operating in the global esthetic lasers and energy devices market include Syneron Medical Ltd., Alcon, Inc. (Novartis AG), Cynosure, Inc., Deka Laser, Alma Lasers Ltd., Cutera, Lumenis Ltd., Sciton, Inc., and Chromogenex Technologies Ltd.