Solid-state Dermatology Lasers Account for 5 in 10 Sales Globally: Study
The global dermatology lasers markers will progress at 7.2% CAGR through 2030, according to a new study by ESOMAR-certified firm Future Market Insights (FMI). The study opines that increasing demand for technologically advanced medical treatments coupled with the growing prevalence of skin diseases worldwide will drive the market to US$ 1.34 Bn by 2030.
Dermatology Lasers Market
A recent market study published by Future Market Insights (FMI) on the dermatology lasers ...
Having assessed the changing demand patterns during the COVID-19 pandemic, the study opines that the growth of the market is likely to be negatively impacted to an extent on the back of the changing medical preferences of consumers and healthcare institutions.
According to the study, increased spending power and rising awareness regarding the availability of advanced technologies for treating skin-related issues will act as crucial growth drivers through the assessment period.
Moreover, the development of novel technologies to perform hair removal and face rejuvenation procedures coupled with the increasing incidence of skin diseases such as psoriasis and vitiligo will create revenue opportunities.
Leveraging the demand, market players are directing their efforts towards new product innovations to minimize the possibility of side effects caused by the existing products.
Key Takeaways from Report Include:
- Solid-state lasers will account for more than half of market value owing to their efficiency in heating and healing deep skin tissues.
- Non-ablative lasers remain the most sought-out technology ascribed to minimal side effects.
- Hair removal and face rejuvenation are poised to remain the most popular application areas for dermatology lasers backed by heightened consumer spending on maintaining appearance.
- Dermatology & cosmetic clinics segment is expected to channel more than 2/3rd of revenue to the market.
- North America and Europe will cumulatively account for over 2/3rd of global value, with the former holding the lion’s share.
- East Asia, spearheaded by China, is expected to exhibit tremendous growth potential on the back of the high burden of skin diseases and improvements in healthcare infrastructure.
"Market players are capitalizing on the growing number of skin diseases and are working on launching innovative products to perform procedures with minimal side-effects," remarks FMI analyst.
COVID-19 Impact on Dermatology Lasers Market
The COVID-19 outbreak has resulted in a significant shift in the medical priorities of both consumers and healthcare institutions alike. On the back of the increasing number of infections, governments, and hospitals have prioritized treatment for COVID-19 patients to reduce the mortality rates.
On this premise, non-essential medical procedures, including hair removal, tattoo removal, facial rejuvenation, and scar treatment, among others, have been deprioritized and rescheduled. This has muted the demand for dermatology lasers. However, a swift rebound is expected post-pandemic as people return to their routine and focus on enhancing their appearance.
Who is Winning?
Key players operating in the market are focusing on launching new products to cater to the growing demand for advanced products. Moreover, players are adopting organic strategies such as acquisitions and collaborations to expand their presence. On these lines:
- In 2017, Sciton Inc., announced its strategic partnership with Michelson Diagnostics Ltd. (MDL), a United Kingdom-based company, to offer advanced personalized skin diagnosis and treatment.
- In 2018, Cutera, Inc. launched two new products named New Juliet™ laser and Secret RF® micro-needling devices, to treat tissue and skin conditions.
FMI’s report includes profiles of some of the most prominent names in the market including Cutera, Inc., Cynosure, Inc., Alma Laser, El.En and Candela Corporation.
To Know More About Dermatology Lasers Market
A new market research report published by Future Market Insights (FMI) on the global dermatology lasers market offers an executive-level blueprint of the market. It offers insights into demand trends and provides analysis of opportunities over the forecast period, 2020-2030. The report examines the market through four different segments – product, technology, indication, end-use, and region. The report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the supply and product adoption across several end-use industries.
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
- Global Digital Pathology Market
- Healthcare Regulatory Affairs Outsourcing Market
- Cold Plasma Market
- Hdl Cholesterol Kits Market
- General Anesthesia Drugs Market
- Clinical Trials Market
- Electronic Medical Records Market
- Injectable Drug Delivery Market
- Microfluidics Market
- Lab Automation Market
- Lung Cancer Surgery Market
- Veterinary Vaccines Market
- Prescription Delivery Services Market
- Vital Signs Monitoring Devices Market
- Weight Loss And Obesity Management Market