Alexandrite Gemstone Lasers Demand to be spurred by Frequent Product Advancements, Opines Fact.MR
Market players are focusing on boosting product reach by implementing distribution agreements as a growth strategy to attain maximum revenue in the market.
"Focus on research & development and innovation in the improvement of existent laser devices will support the progress of improved devices to satiate growing demand of consumer for safe and effective laser therapies." says the Fact.MR report.
• The alexandrite gemstone lasers market is expected to reach a market valuation of US$ 285 Mn towards 2030-end.
• North America will remain the biggest market, however, capturing more than 25% of the overall market share during 2020-2030
• Hair removal category holds over 35% of the overall market, due to an increase in demand for permanent hair removal treatment.
• Hospitals hold a leading position by capturing more than 40% of the overall market over the forecast period.
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• Progressions in laser technologies in recent years have contributed to several cosmetic treatment applications, complementing the market growth of these laser devices.
• Growing adoption of aesthetic treatments and growing consumer expenditure on cosmetic procedures are projected to favor market growth.
• Additional study is required to define the prospective of laser scaling in addition to safety protocols for each clinical application.
• The market growth is impacted by increasing concerns about UV light which necessitates research to exhibit the clinical safety of alexandrite gemstone laser.
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.
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.