The Alexandrite Laser Treatment Market is bound to grow on a gracious note in the next 10 years. The healthcare vertical is shifting to “value” from “production”. This shift concerning collaboration (in place of competition) is expected to set new benchmarks in the Alexandrite Laser Treatment Market. This fast-moving environment is expected to take the healthcare vertical by storm in the next decade.
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.
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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.