Transparency Market Research (TMR) has published a new report titled ‘Aesthetic Laser and Energy Devices Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2028.’ According to the new report, the global aesthetic laser and energy devices market was valued at US$ 1,953.0 Mn in 2017 and is projected to expand at a CAGR of 9.7% from 2018 to 2026. Increase in sports activity and rise in the number of accidents are anticipated to propel the global market between 2018 and 2026. North America and Europe are expected to dominate the global market, owing to an increase in demand for novel laser technologies. The market in Asia Pacific is projected to expand at a high CAGR during the forecast period. The aesthetic laser and energy devices market in Latin America is likely to expand at a moderate pace during the forecast period. Key factors contributing to the growth of the market in Brazil are rapid improvement in health care infrastructure and increase in the purchasing power of people. Additionally, health care companies strive to cut hospitalization costs while offering better services to patients in the country.
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Rise in the Incidence of Road Accidents and Sports Injuries to Fuel Market
Road accidents occur quite frequently, taking a toll on millions every year. Accidents cause death or lead to severe injuries, skin wounds, and other major disorders. Accidents can also result in penetration injuries, typically cuts and scrapes. Advancements in aesthetic devices related to skin resurfacing application have proved to be a boon in such cases.
Augmented Adoption of Lasers in Medical Aesthetics to Drive Market
The adoption of laser-based devices is increasing because of a rise in the utility of laser devices. Applications include skin photo damage, dyschromia (hyperpigmentation and hypopigmentation), removal of unwanted hair, acne, wrinkles, tattoo removal, facial vein removal, and body contouring. Cost-effectiveness and versatility of laser devices are major factors increasing the adoption and usage of laser procedures in the aesthetics market.
Increase in the Prevalence of Skin Cancer and Other Skin Related Disorders and Rise in Awareness about Skin Rejuvenation to Propel Market
Rapid rise in the incidence rates of skin cancer and other skin disorders across the globe are expected to lead to an increase in the number of patients who undergo diagnosis in the form of dermatoscopy and biopsies, as well as treatment using techniques such as lasabrasion and light therapy. This, in turn, is anticipated to increase demand for aesthetic devices and procedures, thereby driving the growth of the overall market.
Skin Rejuvenation Segment to Dominate the Market
Skin rejuvenation was a prominent segment of the market in 2017. The segment is projected to expand at a moderate CAGR during the forecast period. Facial rejuvenation is a cosmetic treatment that aims to restore a youthful appearance to the human face. Facial rejuvenation can be achieved through either surgical and/or non-surgical options. Increase in demand for a youthful appearance across the global is projected to drive the segment during the forecast period.
Asia Pacific Offers Significant Opportunities
Asia Pacific accounted for a significant share of the global aesthetic laser and energy devices market in 2017. The market share of the region is likely to rise in 2026. High adoption of laser device treatment and government initiatives to promote innovative devices contributed to Asia Pacific’s high share of the market. Asia Pacific is projected to be an attractive region of the aesthetic laser and energy devices market during the forecast period. The market in the region is likely expand at a high CAGR in the coming years due to a rise in the prevalence of skin disorders. Japan accounted for a prominent share of the market in the region in terms of revenue in 2017. The market in Latin America and Middle East & Africa is anticipated to expand at a moderate growth rate during the forecast period.