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Cosmetic Laser Market Identifies the Key Drivers of Growth and Challenges of the Key Industry Players
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The increasing adoption of aesthetic treatments and increasing demand of non-invasive cosmetic procedures is driving the growth of this market. 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.
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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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In elderly population, the appearance and characteristics of the skin gets altered, leading to wrinkles, dryness, pigmentary alteration, and sagging of skin. The anti-aging products and devices help in reducing skin aging, thus giving younger look to a person by revitalizing and tightening the skin; hence, fueling the demand of cosmetic lasers. In addition, increasing per capita income leading to improved standard of living, increasing disposable income, growing demand for better quality medical care, and awareness about cosmetic procedures drives the market growth in the region.
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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