The professional aesthetic lasers market is expected to grow at 10.3% CAGR during the forecast period (2021–2030), on account of the rising awareness of aesthetic lasers through conferences and seminars, increasing disposable income, surging alertness regarding safety and benefits of laser-based aesthetic devices, flourishing medical tourism industry, and soaring geriatric population.
According to P&S Intelligence, the market generated a revenue of $1,303.9 million in 2020 and it is projected to reach $3,387.4 million by 2030. Moreover, continuous developments in laser technology will stimulate the market growth in the coming years.
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Additionally, the increasing elderly population will also act as a catalyst for the professional aesthetic lasers market growth in the future. The aging causes loss of fibrous tissue and lessening of skin stem cells, which, in turn, lead to skin sagging, pigmentary alteration, dryness, and wrinkles. For instance, the United Nations Department of Economic and Social Affairs (UNDESA) estimates that the population of people aged 65 years and above will reach 52.0 million in Brazil, 84.8 million in the U.S., 225.4 million in India, and 356.6 million in China, by 2050.
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The laser type segment of the professional aesthetic lasers market is categorized into carbon dioxide (CO2), diode, erbium-doped yttrium aluminum garnet (Er:YAG), alexandrite, pulsed dye laser (PDL), and neodymium-doped yttrium aluminum garnet (Nd:YAG). Among these, the CO2 category will display the fastest growth during the forecast period. This can be attributed to the rising preference for CO2 lasers over other types of lasers, due to their exceptional penetration power in the skin and better results offered by them. These lasers are primarily used for pigmentation and skin rejuvenation treatments.