Medical aesthetics is a comprehensive term used for enhancing cosmetic appearance through use of various surgical and non-surgical procedures. Medical aesthetics devices are used to treat impairments associated with individual aesthetic appearance such as scars, skin discoloration, wrinkles, hair loss, and excessive fat. According to a study conducted by International Society of Aesthetic Plastic Surgery (ISPAS), in 2015, around 31,337,924 aesthetic/cosmetic procedures were performed worldwide. Aesthetic lasers technologies have changed the traditional methods available to dermatologist for getting rid of unwanted hairs, minimizing body scars, pores and acnes. Although lasers are single wavelength of light, they are capable of inducing strong improvements and changes in skin with relatively low time and complications. Some aesthetic lasers are classified as non-ablative lasers which have ability to particularly target a specific skin area that allow users to treat problems such as sunspots without affecting the surrounding undamaged skin. Whereas other types of lasers are classified as ablative lasers that vaporize skin to induce production of new collagen to reduce skin aging and to improve skin texture. Aesthetic lasers are also used in treating vascular conditions such as varicose veins, birthmarks, facial redness, and port wine stains by using non intense heat energy sources.
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Rise in incidence of obesity, growing demand for minimal invasive surgeries, and increasing geriatric population are expected to drive the global market for aesthetic lasers and energy devices. In addition, increasing awareness about aesthetic procedures, and growing demand for these procedures among male population will propel the market growth. Furthermore, technological advancements such as blade-free way to create flap (IntraLase FS laser) and creation of 3D map (Wavefront LASIK) and increasing adoption rate of aesthetic lasers among dermatologist will fuel the growth of the market. However, unfavorable reimbursement policies will hamper the growth of the market.
Some of the key players operating in the global lasers and energy devices market include Mentor Corporation, Solta Medical, Inc., Lumenis Ltd., Cynosure Inc., Syneron Medical, Ltd., Valeant Pharmaceuticals Inc., Lutronic, Inc., Energist Aesthetic Solutions, and Allergan, Inc. These players are focusing on developing new technologically advanced products to deliver better outcomes to users in order to strengthen and sustain their position in the global market. For instance, in May 2016, Cynosure Inc., obtained FDA approval to commercialize its new energy based delivery system, PicoSure, for the removal of tattoos and the treatment of pigmented lesions. This approval helped the company to broaden its product portfolio for skin revitalization and tattoo removal.
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Many players have been expanding their geographical presence in order to acquire more customers by providing advanced solutions to meet unmet medical needs, thus strengthening their positions at the global level. For instance, in February 2015, Alma Lasers, a global solution provider for the treatment of dark skin, opened a direct sales office, Alma Medical Pvt Ltd, in India. This geographical expansion helped the company to acquire large customer base by entering remote areas.
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