Alexandrite Gemstone Lasers Market to Exhibit 7% CAGR through 2030; Sluggish Growth Expected throughout COVID-19 Pandemic Crisis
Published : 05 Nov 2020 Industry: Healthcare
Product launches in the alexandrite gemstone lasers market are precisely governed by positive regulations whose approval is required for any. Over the last few years, leading players in the alexandrite gemstone lasers market have established regulatory approvals across the globe, which has facilitated them to launch various products in the market. The launch of new products brings in new technology, which provides improved results to patients and eases treatment procedures.
- In 2020, Bioson Medical launched the Accento N dual wavelength laser for hair removal and pigmented lesions.
- In 2018, Lumenis launched SPLENDOR X — a solid state laser system equipped with the unique BLEND X technology for fast and effective hair removal and skin solutions.
In addition, manufacturers in the alexandrite gemstone lasers market are highly engaged in various industry consolidation activities such as mergers, acquisitions, and collaborations to increase their product range and distribution network, which creates huge growth opportunities for the market growth.
- In June 2018, Alma Lasers completed the acquisition of Vertiflex, Inc., a privately-held company that developed and commercialized the superion indirect decompression system.
According to Fact.MR, the global alexandrite gemstone lasers market is estimated to expand twofold to be valued at US$ 285 Mn by 2030-end.
Key Takeaways from Alexandrite Gemstone Lasers Market Study
- By indication, tattoo removal is the fastest-growing segment in the alexandrite gemstone lasers market, owing to rising tattoo regret.
- North America and Europe collectively hold over 45% of the global alexandrite gemstone lasers market share, owing to growing research and production activities in alexandrite gemstone laser manufacturing industries.
- Based on end user, hospitals account for more 40% of the global alexandrite gemstone lasers market value share. Laser treatment centers are expected to grow at the highest rate in alexandrite gemstone lasers market.
- Demand for alexandrite gemstone lasers in Europe and East Asia is also projected to surge at a significant rate during the forecast period.
- The COVID-19 pandemic has resulted in the postponement of most non-essential medical procedures across the world, which will hamper the progress of the alexandrite gemstone lasers market in the short term.
“Rising adoption of aesthetic treatments and increasing consumer spending on cosmetic procedures are some of the factors anticipated to favor the growth of the global alexandrite gemstone lasers market,”says a Fact.MR analyst.
Shift from Invasive to Non-Invasive Procedures Surging Market Growth
Growing awareness among people about non-invasive surgeries, ease of operation by using non-invasive devices, lesser side effects compared to invasive surgeries, less post-operative pain, reduced hospital stay, and faster recovery are a few factors contributing to increasing demand for non-invasive procedures. As a result, patients are switching to and preferring non-invasive treatments over invasive surgeries. This has resulted in an increase in the number of non-invasive dermatological procedures, particularly in aesthetic procedures, over the years.
- For instance, introduction of laser devices with in-built diagnostic technologies such as intense pulsed light (IPL) has mechanized the procedure of identification of patient-specific resurfacing settings, thus improving patient outcomes.
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The research study on the alexandrite gemstone lasers market by Fact.MR incorporates an unbiased assessment of key demand-driving factors and trends that have shaped the landscape of the alexandrite gemstone lasers market over 2015–2019, and includes a detailed assessment of key parameters that are anticipated to exert influence during 2020–2030. Statistics have been presented on the basis of indication (hair removal, tattoo removal, vascular lesion, pigmented lesion, and others), application (aesthetic, dermatology, dentistry, urology, and others), and end user (hospitals, laser treatment centers, specialty clinics, and ambulatory surgical centers), across seven major regions.
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