Cosmetic Laser Market Size, Share, Development, Growth and Demand Forecast to 2022
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Geographically, North America has been the largest market for cosmetic laser, owing to increased awareness, and easy accessibility to advanced technologies. Moreover, increasing prevalence of skin problems including acne, pigmentation and scarring drives the market growth. Acne is the most common dermatological condition that is caused by clogging of hair follicles by sebum, dirt, and dead skin cells. Acne affects majority of the world population and leads to scaring. According to the American Academy of Dermatology, approximately 85% Americans suffer from acne at some phase in their lives. The U.S. contributed largest revenue to the North American as well as global cosmetic laser market. The presence of large number of medical spas and salons and beauty clinics coupled with presence of skilled people is the key driving factor of the U.S. cosmetic laser market.
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Europe has been the second largest market for cosmetic laser, where the market is driven by the increasing demand for dermal fillers, increasing healthcare expenditure, increasing awareness about the advantageous features of cosmetic procedures and launch of novel aesthetic products. In 2015, Germany lead the European cosmetic laser market and it is also expected to grow at the fastest rate in Europe, during forecast period. Globally, the cosmetic laser market is expected to witness the fastest growth in Asia-Pacific during the forecast period. The highest growth in the region is attributed to the increasing inclination towards non-invasive procedures and increasing aging population. In elderly population, the appearance and characteristics of the skin gets altered, leading to wrinkles, dryness, pigmentary alteration, and sagging of skin. The anti-aging products and devices help in reducing skin aging, thus giving younger look to a person by revitalizing and tightening the skin; hence, fueling the demand of cosmetic lasers. In addition, increasing per capita income leading to improved standard of living, increasing disposable income, growing demand for better quality medical care, and awareness about cosmetic procedures drives the market growth in the region.
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The key players operating in the global cosmetic laser market are Actavis PLC, Syneron Medical Ltd., Valeant Pharmaceuticals International Inc., Cynosure Inc., Johnson & Johnson, Zeltiq Aesthetics Inc., Merz Pharma GmbH & Co. KGaA, Nestlé S.A, Lumenis Ltd. and Photomedex Inc.
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