Laser Resurfacing Market to Reach $649.9 Million, Globally, by 2031 at 8.7% CAGR: Allied Market Research

Surge in the number of laser resurfacing procedures and a rise in the number of product approvals and product launches are majorly driving the growth of the global laser resurfacing market.

PORTLAND, Ore., Nov. 10, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Laser Resurfacing Market by Type (Non Ablative, Ablative), by Application (Wrinkles and scar, Aging Hands, Sagging skin, and Others), by Gender (Male and Female), and by Provider (Specialty and Dermatology Clinics, Hospitals, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global laser resurfacing industry generated $283.6 Million in 2021, and is estimated to reach $649.9 Million by 2031, witnessing a CAGR of 8.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario.

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Drivers, Restraints, and Opportunities

Surge in the number of laser resurfacing procedures and rise in number of product approvals and product launches are majorly driving the growth of the global laser resurfacing market. Apart from this, increase in self-awareness among youths, females, and the elderly population pertaining to aesthetic appearance has increased the demand for facial aesthetics treatment. This, in turn, has boosted the global market. However, side effects and huge costs associated with laser resurfacing treatment hamper the growth of the global market.  Nevertheless, an increase in the number of licensed medical centers for performing laser resurfacing surgeries will generate huge growth opportunities for the global market.

Covid-19 Scenario

• The outbreak of the COVID-19 pandemic negatively impacted the growth of the global laser resurfacing market. This was due to rescheduling and postponement of ablative and non-ablative laser treatments as dermatology clinics were converted to COVID hospitals.
• Furthermore, cancellation of non-essential surgeries during the pandemic impeded the growth of the global market. In addition, job losses, a sharp decline in monthly income of people, and rise in rate of unemployment due to lockdown and closure of many firms severely impacted the global market growth.

The wrinkles and scar segment to dominate the global market in terms of revenue during the forecast period

Based on application, the wrinkles and scar segment was the largest in 2021, occupying more than half of the overall laser resurfacing market share and is likely to dominate the global market share during the forecast period. Moreover, the same segment is expected to grow at the fastest CAGR of 9.1% during 2022-2031. The growth of the segment during the forecast period can be attributed to the rise in the number of geriatric population and increase in awareness among people regarding aesthetic appearance. The report also includes other segments such as aging hands, sagging skin, and others.

The female segment to dominate and achieve the fastest growth during the forecast period

On basis of gender, the female segment held the largest share of nearly 90% of the global laser resurfacing market share in 2021, and is expected to maintain a prominent growth during the forecast period. Moreover, the same segment is likely to exhibit the highest CAGR of 8.8% in 2031. The growth of the segment over the forecasted timeframe can be attributed to increase in awareness among the female population regarding aesthetic appearance and rise in female population. The report also includes other segments such as male.

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The non-ablative segment to achieve the fastest growth during the forecast period

In terms of type, the ablative segment held the largest share of nearly three-fifths of the global laser resurfacing market share in 2021, and is expected to maintain a prominent growth during the forecast period. The growth of the segment over the forecasted timeframe can be attributed to the increase in the number of product launches for ablative laser resurfacing devices. However, the non-ablative segment is set to record the highest CAGR of 9.0% during the forecast period. The segmental surge over the assessment timespan can be due to rise in the number of key players who manufactures non-ablative laser resurfacing devices across the globe.

North America to maintain its leadership in terms of revenue by 2031

Based on region, the market in the North American region held the largest market share in 2021, accounting for nearly two-fifths of the global laser resurfacing market share, and is likely to lead the trail throughout the forecast period. The growth of the market in the region over the forecast period can be credited to advancement in technology to develop laser resurfacing devices and the large presence of key players in the region. The Asia-Pacific laser resurfacing market is set to register the highest CAGR of 9.6% during the forecast timespan. The growth of the regional market can be credited to the rise in geriatric population and an increase in the number of laser resurfacing procedures in the sub-continent.

Leading Market Players

• Aesthetic Solutions Inc.
• ALMA LASERS LTD.Cutis Dermatology
• Elan aesthetics Inc.
• Estique clinic
• Glow Anti-Aging Clinic
• Spa Medical
• Lynton Lasers Ltd.
• Pure Luxe Medical
• Venus Treatments

The report analyzes these key players of the global laser resurfacing market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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