NEW YORK, March 2, 2021 /PRNewswire/ -- The population of people in the age group of 65 and above is expected to increase to 1.5 billion in 2050 from 703 million in 2019, as per the United Nations (UN). As a result, the global professional aesthetic lasers market value, which was $1,303.9 million in 2020, will reach $3,387.4 million by 2030, at a 10.3% CAGR between 2021 and 2030, according to P&S Intelligence.
With age, the skin loses its vascular and glandular networks, stem cells, and fibrous tissue, which leads to dryness, wrinkles, sagging, and pigmentary alteration. Therefore, coupled with the rising geriatric population, their increasing appearance consciousness is acting as a key professional aesthetic lasers market growth driver. This is because these devices and treatments reduce the signs of aging, as well as revitalize and tighten the skin.
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The professional aesthetic lasers market is witnessing sluggish advance during the COVID-19 pandemic. Due to the imposed lockdowns and restrictions on movement, the production and trade of aesthetic lasers have suffered a lot. Moreover, with most cosmetic centers and non-essential departments at hospitals closed down, the volume of aesthetic procedures has reduced. On the demand side, unemployment and salary cuts are rampant across the world, which are discouraging people to spend on luxuries, such as skin treatment.
The alexandrite category held the largest share in the professional aesthetic lasers market in the past, on the basis of laser type. These lasers are widely used for hair removal, skin rejuvenation, pigmentation treatment, tattoo removal, and vascular lesion treatment. This is because these products are considered effective and safe for different types of human skin, as they emit light in the wavelength of 755 nanometers (nm).
Throughout this decade, the professional aesthetic lasers market is predicted to be dominated by the skin rejuvenation category, under the application segment. Elderly people often complain of scars, wrinkles, fine lines, rough texture, enlarged pores, and dull tone of the skin, which is why they regularly opt for skin rejuvenation procedures carried out via lasers.
Browse detailed report with COVID-19 impact analysis on Professional Aesthetic Lasers Market Research Report: By Laser Type (Carbon Dioxide, Erbium Yttrium Aluminum Garnet, Diode, Pulsed-Dye Lasers, Neodymium-Doped Yttrium Aluminum Garnet, Alexandrite), Application (Skin Rejuvenation, Hair Removal, Pigmentation, Tattoo Removal, Vascular Lesions), End User (Hospitals, Private Clinics, Spas and Salons) - Global Industry Analysis and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/professional-aesthetic-lasers-market
Under segmentation by end user, the private clinics category will witness the highest professional aesthetic lasers market CAGR in the years to come. There are many private clinics around the world dedicated to providing skin treatments, which leads to a high footfall at such places.
North America is the largest professional aesthetic lasers market presently, owing to the presence of numerous laser manufacturers and aesthetic centers, increasing spending on healthcare, and rising awareness about laser-based skin treatments. The fastest growth in the market will be witnessed in the Asia-Pacific (APAC) region in the years to come. With the increasing disposable income, enhancing healthcare infrastructure, low treatment cost, and surging awareness about skin treatments, the usage of lasers for related purposes is rising in the region.
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Major players in the global professional aesthetic lasers market are Lumenis Ltd., Alma Lasers Ltd., Cutera Inc., Syneron Medical Ltd., EL.EN. S.p.A., Sciton Inc., Fotona D.o.o., Laseroptek Co. Ltd., Hologic Inc., Imdad LLC, Jeisys Medical Inc., Lutronic Corp, Bausch Health Companies Inc., Laser Aesthetics SA, Bluecore Company, and Venus Concept Ltd.
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SOURCE P&S Intelligence