Market Trends of Aesthetic Lasers Industry
Hair Removal Segment Holds Significant Market Share and is Expected to Continue the Same Trend Over the Forecast Period
Laser hair removal is one of the highly popular aesthetic procedures. To treat various skin problems and remove unwanted hair, dermatologists routinely use intense pulsed light (IPL) and laser devices. While alexandrite and diode lasers are widely employed, neodymium-doped yttrium aluminum garnet (Nd: YAG) has the lowest overall hair eradication efficiency. However, Nd: YAG is frequently utilized for pigmented skin due to its greater wavelength.
During the COVID-19 pandemic, the demand for online purchases of aesthetic home-based products increased significantly worldwide. For instance, a cross-sectional survey conducted to evaluate the practices related to the use of light-based home-use hair removal devices was published in January 2022 in the International Journal of Trichology (Hair Research Society of India). The survey results showed a significant rise in the adoption of light-based home-use hair removal devices among the population during the outbreak.
As per the International Society of Aesthetic Plastic Surgery (ISAPS), 1,837,052 hair removal procedures and 240,213 micro-ablative resurfacing procedures were done worldwide in 2020. It has been observed that despite the COVID-19 outbreak, the number of these non-surgical laser-based aesthetic procedures increased drastically compared to that of the previous year. As a result of this growing demand for procedures, there has been advancing research on hair removal procedures with the help of various devices available in the market. For instance, in September 2021, doctors and researchers at the SL Aesthetic Clinic in Singapore launched an innovative new laser hair removal treatment method using a medical-grade Fotona Laser. Hence, with the innovation in treatment, there is a growing demand for advanced lasers used for hair removal propelling the segment growth.
Hence, owing to the aforementioned factors, the hair removal segment is expected to grow significantly during the forecast period.
North America is Expected to Dominate the Aesthetic Lasers Market over the Forecast period
North America is expected to hold a significant share of the aesthetic lasers market. Growth is attributed to the presence of key market players, the increasing number of aesthetic laser procedures, and the high adoption of minimally invasive devices in the region.
United States is one of the key countries in the North American region with a significant market share. According to the ISAPS report published in 2021, around 4.67 million cosmetic treatments were carried out in the United States in 2020, among which 3.18 million were minimally invasive operations, while 1.49 million were aesthetic surgical procedures. According to the American Society of Plastic Surgeons report published in 2021, around 15.6 million cosmetic treatments and 6.8 million reconstructive procedures were carried out in the country in 2020. The high number of aesthetic procedures indicates the demand for aesthetic devices in the country, which is considerably high and contributes mainly to market growth.
Furthermore, owing to the increasing demand, market players are focusing on new product developments and launches to expand their market share in the country. For instance, Alma Lasers introduced Alma PrimeX in April 2021, the top non-invasive platform for skin tightening and body reshaping. In Addition, Solta Medical business, one of the global leaders in the medical aesthetics market, launched the next-generation Clear + Brilliant laser in the United States in March 2021. The emergence of such advanced lasers is accelerating the demand for laser treatments. Hence, the market for aesthetic lasers in the region is projected to have significant market growth over the forecast period.
