The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Cosmetic Lasers Global Market Report 2024, the cosmetic lasers market is expected to show significant growth in the forecast period.

The cosmetic lasers market has witnessed significant growth in recent years, driven by advancements in technology, increasing demand for cosmetic procedures, and rising urbanization. Here’s a closer look at the factors fueling this growth and the trends shaping the market’s future.

Market Growth Overview

• 2023 Market Size: $1.68 billion
• 2024 Projected Market Size: $1.79 billion
• CAGR: 6.8%

Key Drivers of Recent Growth

• Increase in Cosmetic Procedures: Higher demand for cosmetic enhancements.
• Rise in Medical Tourism: Patients seeking affordable and quality treatments abroad.
• Adoption of Minimally Invasive Procedures: Preference for procedures with shorter recovery times and less scarring.
• Advancements in Technology: Development of advanced cosmetic laser products.
• Incidences of Skin Diseases: Growing need for treatments for various skin conditions.
• Prevalence of PCOS: Increased need for laser treatments related to PCOS symptoms.

Future Market Projections

• 2028 Projected Market Size: $2.31 billion
• CAGR: 6.6%

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Key Drivers of Forecasted Growth

• Rising Urbanization: Increasing focus on body appearance and health consciousness.
• Aging Population: Higher demand for anti-aging and skin rejuvenation treatments.
• Technological Advancements: Continued innovation in cosmetic laser devices.
• Demand for Body Contouring: Growing popularity of body shaping and contouring procedures.
• Rising Disposable Income: Higher spending capacity on cosmetic treatments.

Emerging Trends

• IoT-Linked Cosmetic Laser Devices: Integration of IoT for enhanced device functionality.
• Robotic Cosmetic Laser Systems: Precision and automation in laser treatments.
• 3D Printing Technology: Customization of laser devices and accessories.
• Strategic Acquisitions: Companies expanding their capabilities through mergers and acquisitions.

Rising Global Urbanization Fuels Growth
Impact of Urbanization

• Definition: Movement of populations from rural to urban areas, increasing population densities in cities.
• Influence: Higher focus on appearance and health in urban settings drives market growth.
• Statistics: According to the United Nations, 68% of the world’s population, or 2.5 billion people, are projected to live in urban areas by 2050.

Major Players in the Cosmetic Lasers Market

• Notable Companies: Cynosure Inc., Lumenis, Candela Medical, Solta Medical International Inc., Cutera Inc., Alma Lasers Ltd., and others.
• Focus Areas: Development of advanced laser technologies and expansion through strategic acquisitions.

Surge in Minimally Invasive Procedures
Benefits and Trends

• Minimally Invasive Procedures: Techniques performed through small incisions, offering faster recovery and reduced scarring.
• Market Impact: Increased preference for minimally invasive procedures boosts demand for cosmetic lasers.
• Statistics: According to the International Society of Aesthetic Plastic Surgery, there was a 19.3% increase in procedures performed by plastic surgeons from 2020 to 2021.

Strategic Acquisitions Boost Market Growth
Case Study: Boston Scientific and Lumenis

• Acquisition Details: In September 2021, Boston Scientific acquired Lumenis for $1.07 billion.
• Impact: Expansion of Boston Scientific’s surgical business portfolio and accelerated development in aesthetic and vision segments.

Market Segmentation
By Type

• Standalone Lasers
• Multiplatform Lasers

By Laser Technology

• YAG Laser
• Carbon Dioxide Laser
• Erbium Laser
• Intense Pulsed Light (IPL)
• Radiofrequency
• Other Lasers

By Application

• Hair Removal
• Skin Resurfacing
• Vascular Lesions
• Scar and Acne Removal
• Body Contouring
• Other Applications

By End User

• Hospitals
• Skincare Clinics
• Cosmetic Surgical Centers

Regional Insights

• Largest Market (2023): North America
• Fastest-Growing Region: Driven by rising urbanization and disposable incomes in emerging markets.

Conclusion
The cosmetic lasers market is set for continued growth, driven by technological advancements, increasing urbanization, and a rising demand for cosmetic procedures. With major companies focusing on innovation and strategic expansions, the market is poised for a dynamic and prosperous future.

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