Luton, Bedfordshire, United Kingdom, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Alexandrite Lasers market.
The global Alexandrite Lasers market is expected to grow at more than 7.0% CAGR from 2023 to 2029. It is expected to reach above USD 7.35 billion by 2029 from USD 4.0 billion in 2022.
The market for alexandrite laser treatment is expected to see significant demand opportunities. It has a small number of leading players, which makes the competitive landscape extremely intense. Simultaneously, this scenario depicts the potential for new players to enter the global alexandrite laser treatment market. The growing demand for the Alexandrite Lasers market is expected to provide opportunities for the market.
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Market Competition
- In December 2021, Allergan Aesthetics announced the successful completion of its acquisition of Soliton, Inc. The product RESONIC™ also received U.S. Food and Drug Administration (FDA) 510(k) clearance for long-term improvement.
- In October 2020, Alma Lasers launched Alma HybridTM, the first and only device combining 3 powerful energy sources to deliver unparalleled results.
Key Takeaways from Alexandrite Lasers Market Study
- By indication, tattoo removal is the fastest-growing segment in the alexandrite lasers market, owing to rising tattoo regret.
- North America and Europe collectively hold over 34% of the global alexandrite lasers market share, owing to growing research and production activities in alexandrite laser manufacturing industries.
- Based on end user, hospitals account for more 40% of the global alexandrite lasers market value share. Laser treatment centers are expected to grow at the highest rate in alexandrite lasers market.
The expansion of new technology has created profitable opportunities in the area of image sensors.
Growing public awareness of non-invasive therapies, ease of operation with non-invasive devices, fewer side effects compared to invasive surgeries, less post-operative pain, shorter hospital stay, and faster recovery are just a few of the factors driving up demand for non-invasive procedures such as alexandrite laser treatment. As a result, an increasing number of patients are opting for non-invasive treatments such as alexandrite laser treatment rather than invasive surgeries. This has resulted in an increase in the number of non-invasive dermatological procedures, particularly aesthetic procedures, over the years, assisting in the global expansion of alexandrite laser treatment size.
North America dominated the aesthetic lasers market with ~34% share in 2022.
The market growth in this region is attributed to the availability of a large number of skilled professionals, significant awareness among people regarding advancements in aesthetic procedures, and the introduction of advanced technologies owing to huge investments in research and development to improve the existing technologies for making them safer and more effective.
Alexandrite Lasers Market Report Scope
| Report Attribute | Details |
| Market size value in 2022 | USD 4.0 billion in 2022 |
| Revenue forecast in 2029 | USD 7.35 billion by 2029 |
| Growth rate | CAGR of 7.0% from 2023 to 2029 |
| Base year for estimation | 2022 |
| Historical data | 2018 - 2022 |
| Forecast period | 2023 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, application, region |
| Regional scope | North America; Europe; China; Asia; Pacific; Central & South America; MEA |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Poland; Spain; India; Japan; Thailand; Malaysia; Indonesia; Vietnam; Singapore; Philippines; Brazil; Argentina; Saudi Arabia; UAE; Oman |
| Key companies profiled | Alma Lasers, Candela Medical, Cynosure Inc, Quanta Systems, Asclepion Laser Technologies, Lutronic Corporation, Bison Medical, Lumenis, Lynton Laser |
| Key Market Opportunities | The growing demand for the Alexandrite Lasers market is expected to provide opportunities for the market. |
| Key Market Drivers | Rising awareness about alexandrite laser treatment procedures and the comparable success rate of non-invasive surgeries are key factors driving the global alexandrite laser treatment market. |
| Customization scope | The growing influence of mainstream and social media on beauty standards is expected to fuel the growth of the alexandrite laser treatment market in the coming years. |
| Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
Competitive Landscape
Leading players are launching new products, entering into acquisitions and mergers, and getting certified by regulatory authorities to expand their business. These factors have a positive impact on the aesthetic lasers market.
Major key players in the alexandrite lasers market include Alma Lasers, Candela Medical, Cynosure Inc, Quanta Systems, Asclepion Laser Technologies, Lutronic Corporation, Bison Medical, Lumenis, Lynton Laser
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Key Market Segments: Global Alexandrite Lasers Market
Alexandrite Lasers Market by Indication 2023-2029, (USD Million)
- Hair Removal
- Tattoo Removal
- Vascular Lesions
- Pigmented Lesions
- Others
Alexandrite Lasers Market by Application, 2023-2029, (USD Million)
- Aesthetic
- Dermatology
- Dentistry
- Urology
- Others
Alexandrite Lasers Market by End-Users, 2023-2029, (USD Million)
- Hospitals
- Laser Treatment Centers
- Specialty Clinics
- Ambulatory Surgical Centers
Market Dynamics
The medical sector dominates the Alexandrite laser market
Laser treatments, including surgeries and non-invasive procedures like alexandrite laser treatment, are associated with high costs, making them inaccessible to people with low-to-middle incomes. Furthermore, alexandrite laser treatment necessitates a series of sessions to achieve the desired result, resulting in a high overall cost of the treatment, which is expected to stifle market growth during the forecast period. For example, the American Society of Plastic Surgeons reports that the average cost of laser hair removal is around $287. Similarly, the average cost of laser skin tightening treatment is approximately $2,134. Furthermore, the duration, the number of sessions, and the cost of treatment are determined by the area being treated. These factors may contribute to the slowing growth of the alexandrite laser.
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.
The rising transmission and distribution of technology services around the world are one of the primary factors driving the Alexandrite laser industry.
The growing desire of the world’s population to improve their aesthetics is one of the key drivers for the growth of the global alexandrite laser treatment market. During the forecast period of 2023 to 2029, the market for alexandrite laser treatment is expected to see significant demand opportunities. It has a small number of leading players, which makes the competitive landscape extremely intense. Simultaneously, this scenario depicts the potential for new players to enter the global alexandrite laser treatment market. TMR’s upcoming research report on the alexandrite laser treatment market provides a detailed description of all key factors influencing the market’s future.
Key Question Answered
- What is the current market size of this high-growth market?
- What is the overall growth rate?
- What are the key growth areas, products, and applications?
- Key reasons for the growth
- Challenges for growth
- What technological developments are happening in this area?
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