Based on application, the hair removal segment lead the global market due to increase cases of PCOD/PCOS and hirsutism leading to unwanted hair growth across the globe. Based on end user, the beauty clinics segmented is expected to grow at a faster rate during the forecast period, owing to increase in the number of beauty/private clinics globally.
The global cosmetic or aesthetic laser market is witnessing considerable growth due to increasing geriatric population, increasing healthcare expenditure and growing awareness about noninvasive cosmetic procedures. Moreover, increase in innovative product launches and growth of medical tourism across the globe is supporting the growth of the market.
Based on product type, standalone lasers segment lead the global cosmetic lasers market owing to its ease of use. The increasing adoption of aesthetic treatments and increasing demand of non-invasive cosmetic procedures is driving the growth of this market.
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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.
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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.
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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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