Growing adoption of aesthetic treatments and rising preference of non-invasive tattoo & hair removal procedures will aid the demand
Growing adoption of aesthetic treatments and rising preference of non-invasive tattoo & hair removal procedures will aid the demand
Fact.MR, New York: The global alexandrite gemstone lasers market study by Fact.MR projects a steady growth in the upcoming decade. According to the study, the market is expected to have an upward trajectory backed by the rising adoption of aesthetic treatments and increasing consumer awareness in dermatology treatments. Technological advancement and penetration of Artificial Intelligence used in developing real-time projects for the laser treatment procedures of hair and tattoo removal is aiding the market growth.
According to Fact.MR, focus on innovation and research & development (R&D) in advanced technology and upgrading the existing laser devices are improving the demand for enhanced device to necessitate the demand from consumer for non-invasive laser procedures. Furthermore, advancement in laser technologies for various cosmetic treatments such as hair removal, tattoo removal, vascular lesions and others has accelerated the demand through 2021 and beyond.
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Additionally, growing awareness among consumers for non-invasive surgeries and less side-effects associated with laser procedures are the factors aiding the market growth. Also, advantages like less post-operative pain, reduced hospital costs and faster recovery are propelling the consumers to opt for non-invasive dermatological procedures since the past years.
“Leading industry players are increasing the R&D activity to cater the demand of technologically advanced and high precision laser devices” says the Fact.MR analyst.
Key Takeaways
- Based on indication, hair removal segment is expected to hold for over 35% of total market share
- Tattoo removal segment is anticipated to witness higher gains through 2021
- Hospitals will be the primary end-user, accounting for over 40% of global market share
- Laser treatment centers segment is estimated to witness fastest growth through the forecast period
- United States is expected to dominate the global alexandrite gemstone lasers market
- UK and Germany collectively account for 20% of global market share leading second largest European alexandrite gemstone lasers market
- Rising technological advancement in dermatology treatments across India to propel the market demand
Prominent Drivers
- Increased research & development in advanced technology and refinement in existing laser devices will boost the demand of alexandrite gemstone lasers market
- Preference for non-invasive treatments for hair and tattoo removal is expected to improve the demand
Key Restraints
- Excessive cost of the procedure and side-effects associated with the laser procedure is expected to restrict the growth of the market
- Social stigma and low awareness associated with the cosmetic treatments such as hair removal, tattoo removal and others will hamper the demand
- Stringent regulatory policies for aesthetic laser procedures is expected to pose a challenge for the market
Discover more about the alexandrite gemstone lasers market with figures, data tables and the table of contents.
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Competitive Landscape
Key alexandrite gemstone lasers manufacturers profiled by Fact.MR includes Alma Lasers, Cynosure Inc., Candela, Quanta Systems, Asclepion Laser Technologies, Lutronic Corporation, Bison Medical, and Lumenis. The market is moderately consolidated with tier-1 companies expanding their product portfolios and adopting strategies such as collaboration with healthcare institutes.
In January 2020, Lumenis Ltd, the world’s largest energy-based medical device company for aesthetic, surgical and ophthalmic applications, announced the launch of its newest platform, the LightSheer Quattro.
Also, in December 2020, Derm Tech, Inc., a leader in precision dermatology enabled by a non-invasive skin genomics platform, announced today the topline results from its TRUST Study of the company’s non-invasive melanoma rule-out test, the Pigmented Lesion Assay.
Furthermore, in June 2020, Cenosure Inc., announced the launch of Elite IQ aesthetic workstation for laser hair removal and skin revitalization in United States, Europe and Australia.
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More Insights on the Alexandrite gemstone lasers Market
A recent study by Fact.MR gives a detailed analysis on the global alexandrite gemstone lasers market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of indication (hair removal, tattoo removal, vascular lesion, pigmented lesion and others), application (aesthetic, dermatology, dentistry, urology, and others), end-user (hospitals, laser treatment centers, specialty clinics, and ambulatory surgical centers), and across major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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Source: Fact.MR