iCrowdNewswire Jan 27, 2021 6:00 AM ET
The aesthetic medical laser systems market was valued at US$ 956.87 million in 2019 and it is projected to reach US$ 1,961.00 million by 2027; it is expected to grow at a CAGR of 9.6% during 2020–2027.
Rise of nonsurgical technologies and availability of new treatment options have made aesthetics more accessible to people. Laser technology has allowed people to live life confidently with a good appearance. The benefits of laser procedures have attracted younger people to improve their skin conditions, modify body parts, and correct their physical posture. According to the global survey published by the International Society of Aesthetic Plastic Surgery (ISAPS) in December 2020, cosmetic procedures registered a rise of 7.4% in 2019 compared to 5.6% in 2018. The report also highlighted a 7.1% and 7.6% increase in surgical and nonsurgical procedures, respectively, in 2019.
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Competitive Landscape aesthetic medical laser systems Market
- Bausch Health Companies Inc.
- Sisram Medical Ltd (ALMA LASERS)
- Sciton, Inc.
- Candela Medical
- Cutera Inc.
- Aerolase Corp
- En. S.p.A.
- STRATA Skin Sciences
In terms of type, the global aesthetic medical laser systems market is segmented into standalone lasers and multiplatform lasers. The standalone lasers segment held the largest share of the market in 2019. The multiplatform lasers segment is expected to continue its dominance and register the highest CAGR in the market during the forecast period.
Depending upon the severity and requirement, different types of lasers—including diode, fiber, Raman, and Mid-IR hybrid lasers—are utilized. Developments in technology have enabled medical professionals to offer efficient and effective laser therapies for medical indications, such as cancer, cardiovascular diseases, and pain management. In addition, technological advancements have further extended the use of lasers for painless sealing of nerves after surgery and prevention of blood loss by sealing the injured site. Thus, use of lasers in the medical field allows surgeons to achieve complicated surgical procedures with reduced blood loss and decreased postoperative discomfort. It also reduces the chances of wound infections and offers faster and better wound healing. Thus, owing to the broad medical applications of lasers and their associated benefits, the market is expected to continue its growth during the forecast period.
According to the ISAPS, the widely performed aesthetic procedures among women were breast augmentation, liposuction, and eyelid surgery. Among men, gynecomastia, eyelid surgery, and liposuction were widely performed. Increase in number of procedures is expected to continue due to minimally invasive nature. Moreover, it has been proved that minimally invasive surgery provides a higher accuracy rate than traditional open surgery. Therefore, collectively, the benefits—such as faster recovery, reduced pain, and less hospital stays—along with the accuracy rate of minimally invasive procedures performed by aesthetic laser systems over conventional surgery, are likely to continue the market’s growth during the forecast period.
According to the United States Food and Drug Administration (FDA), these surgeries are further categorized for different applications.
Cosmetic surgery: for removal of stretch marks, sunspots, wrinkles, tattoos, scars, birthmarks, spider veins or hair, and other aesthetic procedures such as breast and facial procedures
Dental procedures: tooth whitening, oral surgery, and endodontic/periodontic procedures
Ophthalmic/refractive eye surgery: to reshape the cornea to improve vision using procedures—such as laser-assisted in situ keratomileusis (LASIK) or photorefractive keratectomy (PRK)—and cataract removal.
General surgery: It includes medical surgical procedures that are used for removing tumors. The device is also used for minimally invasive surgery, lithotripsy, and more.
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