Alexandrite Gemstone Lasers Market to Exhibit 7% CAGR through 2030, Finds Fact.MR
The global demand of 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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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.
Anticipated Market Impact by COVID-19 Outbreak
The alexandrite gemstone lasers market growth has been affected adversely on the onset of the COVID-19 pandemic. Due to the threat triggered by the pandemic, there has been a substantial drop in demand for these products, across the globe. Laser treatment centers and hospitals have also reflected a slump in demand for alexandrite gemstone lasers processes since the priority at present is fighting the spread of COVID-19.
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- 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
- 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
Key companies functioning in the global market are Candela, Cynosure, Inc., Alma Lasers, Quanta Systems, Lutronic Corporation, Asclepion Laser Technologies, Lumenis, and Bison Medical. Companies have adopted several strategies such as collaboration with healthcare institutes for the r&d of products, increased competition, and enabling technological advancements in the market.
More on the Report
The Fact.MR’s market research report provides in-depth insights into the Alexandrite Gemstone Lasers market. The market is scrutinized based on 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 five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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