Growing trend for aesthetic procedures has increased demand for permanent hair removal treatments. Alexandrite laser treatment is a popular choice for hair removal across the globe, and hence, rapidly rising popularity of permanent hair removal procedures will upsurge market growth over the coming years.
According to a latest report published by PMR, the global alexandrite laser treatment market is expected to witness a healthy CAGR of around 7% over the forecast period (2020 – 2030), to be valued around US$ 285 Mn by the end of 2030.
Key Takeaways from Alexandrite Laser Treatment Market Study
- Hair removal is the leading segment by indication in the global alexandrite laser treatment market. In 2019, 916,869 individuals had undergone hair removal treatments, and the trend is growing at a healthy growth rate.
- North America is the leading region in the alexandrite laser treatment market, followed by Europe.
- East and South Asia, including China, South Korea, Japan, India, and ASEAN countries, are the fastest-growing regions in the global alexandrite laser treatment market, due the rising demand for cosmetic procedures.
- Alma Lasers, Cynosure, Inc., and Candela are amongst the leading players in the global alexandrite laser treatment market. These companies focus more on new product development and industry consolidation through M&A, collaborations, and partnerships to maintain a leadership position in the market.
- Aesthetics and dermatology lead the alexandrite laser treatment application market; however, growing use of alexandrite lasers in dentistry makes it a lucrative segment.
- Hospitals is the leading end user segment, and contributes more than 40% of all alexandrite laser treatments performed.
“Increasing burden of skin problems is expected to boost the global alexandrite laser treatment market,” says a PMR analyst.
Skin disease is considered as one of the leading causes of disease burden, affecting millions of people across the world. Acne is considered the most common skin problem in the U.S., affecting over 50 million people yearly. Acne causes significant physical changes, including permanent scarring. Furthermore, nearly 85% of people aged between 12 and 24 experience acne. The efficiency of alexandrite laser treatment and intense pulsed light (IPL) are widely accepted in aesthetic dermatology for the treatment of a variety of cutaneous conditions. Thus, rising prevalence of such skin problems is boosting the growth of the alexandrite laser treatment market.
Industry Consolidation - Key Strategy Adopted by Market Players
Manufacturers in the alexandrite laser treatment 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 growth of the alexandrite laser treatment market. In June 2018, Quanta System acquired Northwest Lineman College to support Quanta's strategic plan for future growth.
Along with that, companies operating in the alexandrite laser treatment market are focusing on making different strategies to develop new products and expand their distribution. Manufacturers are also focusing on product distribution and collaboration agreements with other market players to hold a better position in the alexandrite laser treatment market. To gain maximum revenue from the market, they are entering into partnership agreements as an expansion strategy.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the alexandrite laser treatment in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020 – 2030 on the basis of indication (hair removal, tattoo removal, vascular lesions, pigmented lesions, and others), application (aesthetic, dermatology, dentistry, urology, and others), and end user (hospitals, laser treatment centers, specialty clinics, and others), across seven key regions.
For additional insights on how growth of alexandrite laser treatment will unfold over the next decade, write to the analyst at email@example.com
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