Laser treatments are expected to become increasingly popular in India mainly due to the fact that, on average, the Indian population has more body hair, making the option of laser hair removal popular amongst a burgeoning middle class with higher disposable incomes.
While hair removal is estimated to account for approximately half of all laser and light treatments carried out in India, it is also used for skin resurfacing, leg vein treatment and fat lipolysis.
All of these different treatment options mean that in total iData Research estimates that the number of light therapy and laser treatments being carried out in the country should exceed 5.5 million by 2017.
Overall market for cosmetics procedures set to boom
Overall the market for cosmetic surgery, facial aesthetics and medical laser treatments is expected to grow significantly in India during the next five years, with some segments, including laser treatments, set to hit growth at double-digit percentage figures.
The report highlights the fact that, despite cosmetic surgeries being elective treatments and not reimbursed for insurance purposes, interest is continuing to grow in the country, as consumers reach out for new ways of fighting signs of aging.
Feeding the demand for such treatments in India is the fact that Chinese manufacturers are increasingly supplying the sophisticated equipment used for light therapy and laser treatments.
China manufacturers get in on the laser boom
The big advantage these manufacturers have is cost, with companies such as Sincohere and C&A Light International Medical Equipment able to offer the equipment at a fraction of the cost, compared to other international manufacturers.
iData Research says that by continuing to improve the quality and efficacy of these machines, Chinese manufacturers have contributed to the expansion of the market for lasers and light therapy treatments because beauty professionals, doctors and clinics have found it easier to buy the equipment.
This is contributing to a wider profile for the treatments and is also allowing providers to offer the service at considerably less expense to consumers, feeding further growth.
In the US and Europe there has also been a growing trend for laser treatment devices that can be used at home, a trend that is expected to also pick up in the Indian market in the future.