Emerging Markets bring Plethora of Avenues for Manufacturers of Cosmetic Lasers Equipment
Published On : Feb 24, 2019 | Category : Healthcare
Cosmetic lasers can safely be considered to have branched out of medical lasers. Over the past several years, medical lasers have gathered steam in the global healthcare system. Laser procedures, as a result, have been receiving increasing acceptance world over for the management for a wide spectrum of skin conditions. Variety of cosmetic usages of medical lasers include in skin resurfacing and tightening procedures, treating various lesions, hair removal, and removing acne. Dermal laser treatments are gaining traction among worldwide populations on account of regulatory thrust and supporting clinical studies. Increasing safety and effectiveness of cosmetic procedures, helped by growing regulatory approvals of the medical equipment in several countries, are factors helping the market to evolve rapidly. Scores of clinical studies assessing the safety profile of cosmetic lasers treatments have thrown encouraging results.
Affordability of Laser Treatment in Emerging Market to bode Well
Rising affordability of cosmetic lasers for emerging markets is likely to keep the global cosmetic lasers market increasingly lucrative. According to a recent projection in the report by Transparency Market Research (TMR), the opportunities in the global cosmetic lasers market will rise at promising CAGR of 13.7% during 2018–2026. Prospects are bright and several consumer trends and macroeconomic factors will sustain the steady expansion of the cosmetic lasers market.
Rapid technological advances made by light-based cosmetic applications continue to improve the effectiveness and safety of cosmetic lasers. Along with these advances, numerous safety concerns pertaining to damaging or weakening of the skin in affected population, have also come to the fore. On the other hand, every now and again, dermatologists have come forward to refute these claims and medical manufacturers have incorporated better technologies to improve the product profile.
New Frontiers to pivot on Rapid Strides made by Medical Tourism and Cosmetics Industry
A large chunk of growth avenues is likely to come from two broad factors—progress made by the worldwide cosmetic industry and a burgeoning medical tourism in several parts of the world. Attractive strides made by medical tourism has attracted consumers in developed countries to seek cosmetic laser treatments in developing economies. Countries at the forefront of this trend are Thailand, India, Brazil, Turkey, and Mexico. Developments in these regional markets are propelled by the increasing adoption of advanced laser technology in medical aesthetics, easier access for patients, and cost effectiveness. Rising number of medical tourists from advanced nations such as the U.S. and the U.K. seeking less expensive procedures will keep the overall demand for cosmetic lasers lucrative over the years of the assessment period (2018–2026).
The cosmetics industry has been witnessing new paradigms, increasingly driven by innovations in procedures, over the past few years. Growing acceptance of laser procedures in the cosmetics and personal care industries in various regions is expected to fuel the expansion of the market. Number of cosmetic procedures has witnessed staggering rise, especially in the U.S., and minimally invasive laser procedures are getting traction in the regional cosmetics industry. Demand for ablative laser technologies for skin resurfacing procedures reflects well on this trend.