Alexandrite Laser Treatment Market

Alexandrite Laser Treatment Market Outlook (2023-2033)

The global revenue from the alexandrite laser treatment market was around US$ 163.4 Million in 2022, with the global market expected-grow at a CAGR of 7.2% to reach a valuation of around US$ 350.7 Million by the end of 2033.

As assessed by Persistence Market Research, hair removal treatment held a market share of around 35.4% in the global market, in 2022. The global alexandrite laser treatment market holds nearly 1.0% revenue share of the global medical aesthetic device market valued at US$ 12.5 Billion in 2022

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Sales Analysis of Market from 2015-2022 Vs Market Outlook for 2023-2033

The global market recorded a historic CAGR of 7.3% in the last 7 years from 2015-2022.

The global market is likely to show high growth over the coming years at a CAGR of 7.2% and reach a global market size of 350.7 Million by 2033.

The solid-state laser known as an alexandrite laser is composed of this alexandrite mineral. This laser has been a commercially offered laser system for medical uses, such as surgical and aesthetic procedures. The main wavelength of it is 752 nm. Under ideal working circumstances, a tuning range from 710–820 nm is feasible.

The alexandrite laser is most suited for hair removal procedures, although it can also be used for vascular lesion, skin resurfacing, and pigment removal procedures.

The alexandrite laser typically comes in two different configurations: Q-laser, which is mostly used for tattoo removal applications, and long-pulsed laser, which is used for, among other things, hair removal and skin treatment.

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How Can the Global Market Grow?

“Shift of Aesthetic Treatment Landscape from Invasive to Non-Invasive”

A few factors influencing the rise in demand for non-invasive procedures like alexandrite laser treatment include growing public awareness of non-invasive therapies, the simplicity of using non-invasive devices, fewer side effects compared to invasive surgeries, less post-operative pain, shorter hospital stays, and quicker recovery.

As a result, patients are choosing non-invasive procedures over invasive surgeries, such as alexandrite laser therapy. Over time, this has led to rise in the use of minimally invasive dermatological operations, notably in aesthetic procedures.

People of all ages are becoming more concerned in changing their appearance. As a result, the market for alexandrite laser treatments is expanding quickly due to the growing importance of improving beauty.

• As per the Aesthetic Society estimates, Americans spent over $14.6 billion on aesthetic services in 2021. The data shows a potential impact of living in the midst of the worldwide epidemic, with many members of the Aesthetic Society pointing to the prevalence of video meetings, more downtime, and patients undergoing more surgical operations on their faces and bodies.

With an emphasis on innovation, research, and development in advanced technology, as well as the improvement of current laser devices, the market will see lucrative potential as devices are improved to fulfil rising customer demand for safe and effective laser therapies.

One of the major factors that can provide profitable opportunities-the market is the growing hirsutism population.

• According to a review on Efficacy of lasers and light sources in long-term hair reduction, published in the Journal of Cosmetics and Laser Therapy in May 2022, more than 40% of women in the overall population have some extent of unnecessary hair growth. Up to 10% of these women are of reproductive age and have hirsutism, which is identified as the appearance of thick end hairs in androgen-dependent areas of the body as a result of high levels of circulating androgens.

As a result, there may be a demand for alexandrite laser hair removal treatments.

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Can the Market Growth Be Affected in Any Way?

“High Cost of Alexandrite Laser Treatment and Post-operative Side Effects”

Laser treatments, both invasive and non-invasive, like alexandrite laser treatment, are high cost procedures, making them unavailable to people with low to middle incomes. Furthermore, minimally invasive treatments, like as alexandrite laser treatment, involve a sequence of sessions, resulting in high treatment cost, which is expected to hinder the alexandrite laser treatment market.

Results of studies reported in the NCBI literature indicate that the alexandrite laser is the most efficient and painless method of photo epilation. However, the market may be constrained due to its negative repercussions, for instance, these laser systems frequently cause temporary and occasionally lasting side effects like as hyperpigmentation, hypopigmentation, erythema, crusting, and oedema.

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Country-wise Insights

Why is the U.S. Market Booming?

“Surge in Demand for Laser Hair Removal”

The U.S. accounted for around 18.9% market share in the global market in 2022.

People in the country are encouraged to prioritise personal growth and development. As a result, the hair removal laser treatment is in high demand; people prefer a smoother, hair-free body.

• The American Academy of Facial Plastic and Reconstructive Surgery reports that demand for laser treatments has increased by more than 10% between 2021 and 2020, indicating that naturally healthy, clear, and even-toned skin remains a patient priority.

As a result, the alexandrite laser treatment market in the country may be expanding due to the demand for self-improvement activities.

Will the Australia Be a Lucrative Market for Alexandrite Laser Treatment?

“Rising Awareness on Dermatology Benefits and Social Media Influence”

The Australia market held around 11.1% share of the global market in 2022.

The market is expanding as a result of increased consumer spending on personal grooming as well as rising knowledge of the various benefits dermatological procedures have to offer.

Aside from that, the local market is being supported by the expanding importance of social media platforms as well as various celebrity endorsements in promoting the usage of alexandrite laser treatments. Other important growth-promoting variables include the high prevalence of metrosexual society and the emergence of specific hair removal options for men.

How is India Emerging as a Prominent Market?

“Increasing Disposable Income and Low Cost Treatment”

India held a market share of about 8.8% of the global market in 2022.

Youth, particularly millennials and Generation Z, are more concerned about their appearance and grooming. Besides this, with the advent of social media platforms, there has been an increased usage of derma treatments. This has grown the popularity of such products through social media influencers.

• The average cost of hair removal using lasers for the entire face ranges from Rs. 3000 to Rs. 12,500 per session, depending on the body area being treated. More sittings may be required for complete hair removal.

Thus, the above mentioned factors are facilitating the market-grow.

Will the Japan Be a Lucrative Market for Alexandrite Laser Treatment Market?

“Increased Customer Consultations for Hair Laser Removal Treatment”

Growing number of consultation for derma procedures owed to preference for hairless skin and availability of latest technologies led the Japan market to hold around 6.0% market share of the global market in 2022.

• According to the National Consumer Affairs Centre of Japan, consumer consultations for laser treatment have stayed at just below 3,000 cases annually for several years, but the number increased to 4,106 in the beginning of April 2021. People in the country are teens and twenties accounted for 73.3% of all consultations. Although women make up the majority of consultations, men are also increasing in number.

Why Canada is More Inclined towards Laser Treatment Procedures?

“Increasing Demand for Beauty Products”

Canada market held around 4.7% market share of the global market in 2022.

Along with rising women's awareness of beauty, a comparable trend is also apparent among men, who are increasingly choosing various kinds of grooming products. For instance, acne was a common complaint of mask wearers throughout the epidemic. The term "maskne," as it was known in popular culture, was frequently mentioned in beauty blogs.

• Google Trends also indicates a spike in "acne" searches in Canada in 2021. This element is predicted-increase demand even more.

Category-wise Insights

Which Indication is More Prone to the Global Market?

“Need and Want to Eliminate Unwanted Hairs”

The hair removal segment held around 35.4% share of the total market in 2022.

People are drawn to laser hair removal treatment because of its convenience and long-term solution. More people are opting for laser hair removal because they realise it is a long-term solution that provides them with freedom from body and facial hair. In commercial clinic settings, hair removal equipment is often managed by professionals and is comparatively quite painless. This is anticipated to be one of the key elements affecting the expansion of this sector.

Which Application is Adopted within the Global Market?

“Growing Appeal for Aesthetics”

Aesthetic segment held around 40.6% share of the total market in 2022.

Global demand for aesthetic laser is being driven by an increase in demand for minimally invasive procedures.

• For instance, the overall number of surgical and non-surgical facial plastic surgery procedures have increased significantly, according to American Association of Facial Plastic and Reconstruction Surgery, Inc., (AAFPRS) members. An estimated 1.4 million surgical and non-surgical operations were performed in the aesthetics area in 2021.

Which End User is offering the Alexandrite Laser Treatment Procedures the Most?

“Accessible Services and Infrastructure Development of Hospitals”

Hospitals held around 41.0% share of the total market in 2022.

Hospitals are attempting to maintain their existing facilities while also acquiring newer technologies in order to provide adequate standards to patients and thus dominate the market. However, the significance of facilities in providing quality healthcare is frequently acknowledged and has ultimately turned into a significant contributor to the infrastructure development in hospitals. As a result, institutional sales dominate the market's distribution channels.

Competition Landscape

To increase alexandrite laser treatments offerings and strengthen their consumer base, the market players are employing numerous clinical trials and product launches to standalone in the market.

Some key instances of development include:

• In June 2022, Cynosure announced the availability of PicoSure Pro device’s update. PicoSure Pro which is a 755nm picosecond laser received FDA clearance for treatment of undesirable pigmentation and rejuvenate skin on all skin types
• On January 20, 2021, Candela announced the availability of FDA approved Frax ProTM system. It is a non-ablative fractional device, which provides dual-depth skin resurfacing with the cutting-edge Frax 1940TM and Frax 1550TM applicators.

Similarly, the team at Persistence Market Research has tracked recent developments related-companies in the Alexandrite Laser Treatment market, which are available in the full report.

Alexandrite Laser Treatment Industry Report Scope

Key Segments Covered in Alexandrite Laser Treatment Industry Research

Indication:

• Hair Removal
• Tattoo Removal
• Vascular Lesions
• Pigmented Lesions
• Others

Application:

• Aesthetic
• Dermatology
• Dentistry
• Urology
• Other

End User:

• Hospitals
• Laser Treatment Centers
• Specialty Clinics
• Ambulatory Surgical Centers

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa