Portland, OR, Feb. 27, 2020 (GLOBE NEWSWIRE) -- The cosmetic laser market generated $1.81 billion in 2018, and is expected to reach $5.41 billion by 2026, portraying at a CAGR of 14.5% from 2019 to 2026. The report offers an extensive analysis on changing market trends, key segments, top investment pockets, competitive scenario, and key market players.
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Increase in awareness regarding cosmetic layers, progress in the field of lasers, and surge in obesity across the world are crucial factors that fuel the growth of the global cosmetic laser market. However, high costs related to these procedures restrain the market growth. Contrarily, continuous progress in lasers, fillers, and injectables would provide new opportunities in the market in coming years.
On the basis of type, the non-ablative lasers segment accounted for nearly three-fifths of the total market share in 2018, and is expected to maintain its leadership position throughout the forecast period. This is attributed to rise in demand for this type of devices that need small incisions on surface of the skin through which cannula can be inserted. However, the ablative lasers segment is estimated to maintain the highest CAGR of 15.2% from 2019 to 2026. This is attributed to its rise in application for skin rejuvenation.
On the basis of modality, the YAG laser segment accounted for the largest share in the global cosmetic laser market in 2018, accounting for nearly one-fourth of the total share in terms of revenue, and is estimated to maintain its dominant position during the forecast period. This is attributed to surge in usage in cataract surgery. Contrarily, the erbium segment is estimated to register the fastest CAGR of 18.0% during the forecast period.
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On the basis of region, North America accounted for the highest market share in 2018, holding more than two-fifths of the total market share, and will maintain its lead position throughout the forecast period. However, Asia-Pacific is estimated to portray the highest growth rate, witnessing a CAGR of 16.2% during the forecast period. This is due to increase in disposable income and rise in promotional activities regarding usage of cosmetic lasers.
Key market players analyzed in the research include Hoyoconbio, Lumensis, Palomar and Syneron, Aerolase El.En. Spa Lumenis Ltd., Aerolase Corporation Sciton, Inc., Sharp Light Technologies, Fosun Pharmaceutical, Alma, Candela Cutera, Syneron Medical Inc., Cynosure, Deka, and Solta Medical.
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