Number of pages: 100 | Report Format: PDF | Published date: February 14, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study conducted by Growth Plus Reports, the global laser skin tightening market was pegged at US$ 225 million in 2021 and is expected to witness a CAGR of 8.5% to reach US$ 468 million by 2030.
Laser Skin Tightening Market Fundamentals
The laser skin tightening market has grown recently due to increasing demand for non-invasive cosmetic procedures. The market is expected to continue its growth due to technological advancements, increasing awareness, and growing disposable income. Some popular laser skin tightening treatments include fractional laser resurfacing, infrared skin tightening, and ultrasound skin tightening. The market is competitive, with the presence of many established players and new entrants.
However, the high cost of laser skin tightening procedures and the lack of insurance coverage may pose a challenge to market revenue growth. In addition, the risk of side effects and the need for multiple treatments may also limit the market’s revenue growth.
North America and Europe are expected to be the largest markets for laser skin tightening due to the presence of many practitioners and high consumer demand for these services. However, Asia Pacific is expected to experience the highest revenue growth due to the increasing adoption of cosmetic procedures and a large pool of patients.
Laser skin tightening is a non-invasive cosmetic procedure that utilizes laser technology to tighten and firm loose or sagged skin on various body parts. It delivers controlled heat to the deeper layers of the skin, stimulating collagen production and causing the skin to contract and become firmer. This procedure can help reduce fine lines, wrinkles, and sagging skin, resulting in a more youthful and rejuvenated appearance. Laser skin tightening can be used on various body parts, including the face, neck, arms, and abdomen. The procedure is usually performed as an outpatient procedure and has minimal downtime. The results are typically visible after several treatments and can last for several months. However, the number of treatments needed, and the extent of long-term results may vary depending on the individual and the extent of the skin laxity.
Laser Skin Tightening Market Dynamics
There is a growing demand for non-invasive cosmetic procedures, including laser skin tightening, which is less painful and requires less recovery time compared to traditional surgical procedures, driving the revenue growth of the global laser skin tightening market. The development of advanced laser technologies has made laser skin tightening procedures more effective and efficient, driving demand for the laser skin tightening procedure. Furthermore, the growing geriatric population, coupled with increasing awareness and education about the benefits of laser skin tightening, is driving demand for the procedure, thus propelling the laser skin tightening market revenue growth.
The beauty and wellness industry is expanding globally, driving demand for cosmetic procedures, including laser skin tightening. With increasing disposable income, people are willing to spend more on cosmetic procedures, such as laser skin tightening. In addition, the negative stereotypes and the emotional and psychological problems linked to skin diseases are also propelling the laser skin tightening market revenue growth. The increasing adoption of cosmetic procedures in emerging markets, such as Asia Pacific, is driving the growth of the laser skin tightening market.
However, the high cost of laser skin tightening procedures can be a significant barrier for many consumers, thus restricting the revenue growth of the laser skin tightening market. The risks of side effects, such as redness, swelling, and skin discoloration associated with laser skin tightening treatments, are likely to hinder the laser skin tightening market revenue growth.
Laser Skin Tightening Market Ecosystem
The global laser skin tightening market has been analyzed from five perspectives: application, portability, treatment type, end-user, and region.
Laser Skin Tightening Market by Application
Based on the application, the market is segmented into face lifting, anti-aging, wrinkle reduction, body lifting, and other segments.
In 2021, the anti-aging segment dominated the market for laser skin tightening. The global population is aging, and people are increasingly concerned about maintaining a youthful appearance. This has led to a growing demand for non-invasive and minimally invasive cosmetic procedures to reverse the signs of aging. With the rise of social media influence and the availability of information online, consumers are more informed about cosmetic procedures and their benefits. This has contributed to the growing popularity of laser skin tightening as a non-invasive anti-aging treatment, boosting revenue growth in the segment.
Laser Skin Tightening Market by Portability
Based on portability, the global laser skin tightening market is segmented into portable and standalone.
The portable laser skin tightening devices segment accounted for the largest revenue share of the laser skin tightening market in 2021. Portable laser skin tightening devices are relatively more affordable than other laser skin tightening systems, making them a more cost-effective option for many consumers. These devices are generally easy to use and do not require specialized training, making them a popular choice among consumers, thus fueling revenue growth in the segment. Portable laser skin tightening devices can be used in the comfort of one’s home, making the procedure more convenient and accessible for consumers. Portable laser skin tightening devices are typically less powerful than other laser skin tightening systems, which reduces the risk of side effects associated with the procedure and also plays a significant role in segmental growth.
Laser Skin Tightening Market by Treatment Type
Based on treatment type, the global laser skin tightening market is segmented into non-invasive and minimally invasive.
The non-invasive procedure segment accounted for a major revenue share of the laser skin tightening market in 2021. Non-invasive laser skin tightening procedures are safe and effective for many skin types and concerns. This has contributed to the growing popularity of non-invasive procedures. Non-invasive laser skin tightening procedures have minimal side effects and downtime and are affordable, making them a more attractive option for many consumers than more invasive cosmetic procedures. This has contributed to the growing popularity of non-invasive laser skin tightening procedures and the dominance of the non-invasive segment of the laser skin tightening market.
Laser Skin Tightening Market by End-user
Based on end-user, the global laser skin tightening market is segmented into dermatological clinics, hospitals, beauty salons & cosmetic centers, and others.
In 2021, dermatology centers accounted for the largest revenue share of the laser skin tightening market, as they are well equipped with the latest and advanced laser technologies, and experienced dermatologists are trained to perform skin tightening procedures with precision and safety. Additionally, dermatology centers offer a wide range of skin treatments, including laser skin tightening, which makes them a preferred destination for people looking for aesthetic procedures. The availability of specialized services and the reputation of dermatologists also contribute to the high demand for laser skin tightening treatments at dermatology centers.
Laser Skin Tightening Market by Region
Based on the region, the global laser skin tightening market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global laser skin tightening market in 2021, followed by Europe and Asia Pacific. The demand for non-invasive aesthetic procedures, such as laser skin tightening, is increasing in North America due to the high safety and effectiveness of these procedures. According to the Aesthetic Society, around 391,855 people in the U.S. had gone through skin tightening procedures in 2021. The awareness about skin aesthetics is increasing in North America, leading to a rise in demand for laser skin tightening treatments. The growing geriatric population in North America is driving the demand for laser skin tightening treatments, as the skin tends to lose its elasticity and firmness with age.
Laser Skin Tightening Market Competitive Landscape
The prominent players operating in the laser skin tightening market are:
Laser Skin Tightening Market Strategic Developments
The growing demand for non-invasive cosmetic procedures and the rise in adoption of advanced technologies are driving the market revenue growth. The rising geriatric population and growing awareness regarding laser skin tightening are also driving factors in the global market.
The high cost and side effects associated with laser skin tightening technology are likely to restrict revenue growth of the global market.
Alma Lasers GmbH, Cynosure, Inc., Cutera, Inc., Altair Instruments, and Merz Pharma GmbH & Co. KGaA are among the top market players.
The laser skin tightening market is expected to be valued at US$ 468 million by 2030.
North America has the largest market revenue share in terms of revenue. Asia Pacific is projected to register growth at the fastest revenue CAGR.
*Insights on financial performance are subject to the availability of information in the public domain