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European Esthetic Laser Market Continues to Grow

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European Esthetic Laser Market Continues to Grow

The European aesthetic lasers and energy devices market across five major countries (Germany, France, Italy, the United Kingdom and Spain) was valued at $166.1 million in 2013 and will expand at a compound annual growth rate (CAGR) of 6.5% to reach $258.6 million by 2020, according to business intelligence provider GBI Research.

The company’s latest report* states that while Germany will remain the single largest contributor to the market, valued at $75.1 million by 2020, France will see both the fastest and highest volume of growth over the forecast period. The French market value will increase by $32.2 million at a CAGR of 9.1% to hit $70.5 million by 2020.

Stephen Palaparthy, analyst for GBI Research, says: “Aesthetic lasers and energy devices are used for a variety of cosmetic procedures, including fat and cellulite reduction, skin tightening and resurfacing, hair removal, pigmented lesions and vascular treatment.

“With increased awareness, rapid advances in technology and new options to reduce risk and recovery time, the aesthetic market in Europe is poised to witness steady growth over the forecast period.”

The analyst adds that the lowest and slowest growth will occur in Spain, where the market will expand from $19.5 million in 2013 to $26.4 million by 2020, representing a CAGR of 4.4%.

Palaparthy comments: “Spain will not witness as much market growth as its European neighbors, due to the country’s comparatively poor economic performance.

“Countries such as Spain are facing a deflationary environment, which severely curtails spending, meaning that people are either postponing or deciding against elective aesthetic procedures.”

*Market Snapshot: Aesthetic Lasers and Energy Devices Market 2006 to 2020 – Europe

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