Dermatology laser market worth US$2.88 billion by 2030: IMF

Dermatology lasers market

NEWARK, NEWARK, UNITED STATES OF AMERICA, April 21, 2022 / — Global dermatology laser markers will grow at a CAGR of 7.2% through 2030, according to new research from certified company ESOMAR Future Market Insights (IMF). The study estimates that growing demand for technologically advanced medical treatments coupled with rising prevalence of skin diseases globally will drive the market to US$2.88 billion by 2030.

After assessing the changing demand patterns during the COVID-19 pandemic, the study estimates that the market growth is likely to be negatively affected to some extent due to changing consumer medical preferences and health facilities.

According to the study, increasing purchasing power and growing awareness of the availability of advanced technologies for the treatment of skin-related problems will act as crucial growth drivers throughout the period of Evaluation.

Additionally, the development of new technologies to perform hair removal and facial rejuvenation procedures, coupled with the increasing incidence of skin diseases such as psoriasis and vitiligo, will create revenue opportunities.

Leveraging demand, market players are directing their efforts towards new product innovations to minimize the possibility of side effects caused by existing products.

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Key takeaways from the report include:
Solid-state lasers will account for more than half of the market value due to their effectiveness in heating and healing deep skin tissues.
Non-ablative lasers remain the most sought after technology due to their minimal side effects.

Hair removal and facial rejuvenation are poised to remain the most popular application areas for dermatological lasers, supported by increased consumer spending for appearance maintenance.

The dermatology and cosmetic clinics segment is expected to channel more than 2/3 of revenue to the market.

North America and Europe will cumulatively account for more than 2/3 of the global value, with the former holding the lion’s share.

East Asia, led by China, is expected to have huge growth potential due to the heavy burden of skin diseases and improving healthcare infrastructure.

“Market players are capitalizing on the growing number of skin diseases and working to launch innovative products to perform procedures with minimal side effects,” notes the IMF analyst.

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Impact of COVID-19 on the Dermatology Lasers Market
The COVID-19 outbreak has resulted in a significant shift in medical priorities for consumers and healthcare institutions. In the face of rising numbers of infections, governments and hospitals have prioritized treating patients with COVID-19 to reduce death 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 reduced the demand for dermatological lasers. However, a rapid rebound is expected after the pandemic as people return to their routines and focus on improving their appearance.

Who wins?
The major players operating in the market are focusing on launching new products to meet the growing demand for advanced products. Additionally, 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 UK-based company, to offer personalized and advanced skin diagnosis and treatment.

In 2018, Cutera, Inc. launched two new products named New Juliet™ laser and Secret RF® micro-needling devices, for treating tissue and skin conditions.
The IMF 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 learn more about the dermatology lasers market
A new market research report released by Future Market Insights (FMI) on the global dermatology lasers market offers a blueprint for the market. It offers an overview of demand trends and provides opportunity analysis over the forecast period 2020-2030. The report examines the market across four different segments: product, technology, indication, end-use, and region. The report also provides an in-depth assessment of pricing under different key market dynamics, life cycle analysis, and technologies that are being deployed in product supply and adoption across multiple end-use industries.

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About Future Market Insights (IMF)
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.

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