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North America Aesthetic Medical Laser Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Application, End-User, and Country

North America Aesthetic Medical Laser Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Application, End-User, and Country

  • February 2021
  • 115 pages
  • ID: 6027828
  • Format: PDF
  • The Insight Partners

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The North America aesthetic medical laser systems market is expected to reach US$ 870.88 million by 2027 from US$ 415.43 million in 2019. The market is estimated to grow at a CAGR of 9.9% during 2020-2027.
The growth of the North America aesthetic medical laser systems market is attributed to key driving factors such as increasing number of laser treatments and minimally invasive surgeries and growing FDA approvals for aesthetic devices. However, the high cost of initial and associated aesthetic medical laser devices may hinder the market growth.
Hair removal and hair restoration procedures are widely performed in North America.Most of these procedures are performed by using aesthetic medical laser systems, which is propelling the demand for aesthetic medical laser systems across the region.

In 2018, the hair restoration field received various FDA approvals that included Theradome-LH80 PRO (now approved for men), the HairMax-RegrowMD for the treatment of androgenetic alopecia in both men and women, and the InModeTriton to provide concurrent emission from the three most popular hair removal lasers alexandrite, diode, and Nd: YAG.Moreover, the growing number of plastic surgeons leads to the demand for aesthetic medical laser systems.

According to the International Society of Aesthetic Plastic Surgery (ISAPS) survey for 2018, Canada is ranked 21 in the top 30 countries for several plastic surgeons.In addition, various market players are receiving approvals from the regulatory bodies.

Thus, they are encouraged to launch laser devices in the country. For instance, in November 2019, Venus Concept Inc. received a medical device license. Health Canada and CE Mark issued permission from DEKRA Certification B.V. to market Venus Epileve. The device is intended to use for hair removal, permanent hair reduction, and pseudofolliculitis barbae treatment in Canada. Thus, the high growth in the approvals from regulatory bodies of aesthetic devices is fuelling the growth of the North America aesthetic medical laser systems market.
In the US, healthcare professionals and leading organizations are distracting the flow of healthcare resources from research & development to primary care due to an increasing number of COVID-19 infected patients.This scenario is slowing down the process of innovation.

Moreover, the outbreak is creating difficulties and challenges for the cosmetic surgeons having a unique perspective of working with patients and their teams.Furthermore, the American Society of Plastic Surgeons (ASPS) released a statement in May 2020 to urge the suspension of elective and nonessential procedures of cosmetic and laser surgeries in the US.

The ASPS also stated that the necessary action is likely to result in detrimental financial effect on the aesthetic surgery community. However, the organization is putting in its best efforts to continue the consultations for medical interventions through virtual platforms.
Based on type, the North America aesthetic medical laser systems market is bifurcated into standalone lasers and multiplatform lasers. The standalone lasers segment held a larger market share in 2019, whereas the multiplatform segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on application, the North America aesthetic medical laser systems market is segmented into hair removal, acne and scars, skin rejuvenation, pigmented lesions, leg and varicose veins, and others.The hair removal segment held the largest market share in 2019.

However, the skin rejuvenation segment is anticipated to register the highest CAGR in the market during 2020-2027.
The North America aesthetic medical laser systems market, by end-user, is segmented into hospitals, clinics, medical spas, and others. The clinics segment held the largest share of the market in 2019, and the same segment is anticipated to register the highest CAGR in the market from 2020 to 2027.
A few of the primary and secondary sources referred to while preparing the report on the North America aesthetic medical laser systems market are the International Society of Aesthetic Plastic Surgery (ISAPS) and American Society for Dermatology Surgery (ASDS).

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