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ROCKVILLE, MD / ACCESSWIRE / November 23, 2020 / The alexandrite gemstone lasers market is anticipated to reflect a CAGR of 7% throughout the assessment period, 2020-2030. The expansion can be mainly attributed to frequent product advancements, growing demand for non-invasive lasers, as well as approvals of technology. The COVID-19 outbreak has ensued in the postponement of the majority of non-essential medical procedures worldwide, which is likely to impede the market growth in the short run.

"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.

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Key Takeaways

• 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.

Driving Factors

• 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.

Constraints

• 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.