The global aesthetic lasers and energy devices market is anticipated to witness growth over the forecast period, driven by rising global prevalence of obesity, demand for minimally invasive procedures coupled with shifting of patient preferences from hospital care to home care. The aesthetic lasers and energy devices are used for the treatment of sun damage skin, wrinkles, and unwanted lesions. It is also used for treating acne and removing tattoos. Increasing incidences of skin damage and rapidly changing lifestyles are additionally propelling the aesthetic lasers and energy devices market. Laser devices owing to inherent features such as ease of usage and less time consumption are gaining popularity and hence are instrumental in increasing adoption rate of the same as a part of home care service.
The aesthetic lasers and energy devices market with virtue of technological advancement such as the introduction of portable pen shaped devices, is expected to further provide this market with lucrative growth platform. Manufacturers are investing heavily in R&D to provide technologically advanced devices with respect to ease of operation, lower costs and high functionality. These factors are expected to propel the market growth over the forecast period. The overall aesthetic lasers and energy devices market on the basis of product type is segmented into skin resurfacing device and body contouring device. The body contouring device attributes the largest share in the market owing to its multiple advantages such as skin tightening, fat removal, and body shaping. The body contouring devices are further segmented into ultrasound assisted liposuction devices, non-invasive devices, and invasive devices.
Geographically, the aesthetic lasers and energy devices market is segmented into North America, Asia Pacific, Europe, Latin America, and MEA. As of 2014, North America attributed the largest share in the aesthetic lasers and energy devices market in terms of revenue. It is also expected to lead the market over the forecast period owing to the favorable approval regulations, increased healthcare expenditure, and technological advancements in aesthetic lasers and energy devices. Europe is expected to show steady growth over the next eight years, owing to increasing geriatric population base. On the other hand, Asia Pacific is anticipated to witness lucrative growth due to the increasing disposable income, greater untapped opportunities, and rapidly rising awareness among patients in this region.
The aesthetic lasers and energy devices market is consolidated in nature. Various players are adopting competitive strategies such as collaborations, acquisitions, and capitalizing untapped opportunities in the emerging economies of India and China, to sustain and gain market penetration across the globe. Some key players of this market include Mentor Corporation, Solta Medical, Inc., Lumenis Ltd., Palomar Medical Technologies, Cynosure Inc., Photomedex Inc., Syneron Medical, Ltd., Medicis Pharmaceuticals Corporation, Zeltiq Aesthetics, Lutronic, Inc, Chromognex Technologies Ltd., Cutera Palomar Medical Technologies, Ultrashape Ltd. and Allergan, Inc.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.