Dublin, March 25, 2021 (GLOBE NEWSWIRE) -- The "Dermatology Medical Lasers Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
The global dermatology medical lasers market is expected to decline from $2.62 billion in 2019 to $2.55 billion in 2020 at a compound annual growth rate (CAGR) of -2.67%.
The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $4.2 billion in 2023 at a CAGR of 18.18%.
Dermatology Medical Lasers Global Market Report 2020-30: COVID 19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global dermatology medical lasers market.
The dermatology medical lasers market consists of sales of dermatology medical lasers and related services by companies that manufacture them. Dermatology medical lasers are used in the treatment of medical conditions related to the skin and for cosmetic procedures such as scar removal, skin rejuvenation, skin lightening, hair removal and tattoo removal.
North America was the largest region in the dermatology medical lasers market in 2019.
The dermatology medical lasers market covered in this report is segmented by device into surgical lasers; vascular lasers. It is also segmented by end-users into hospitals; skin care clinics; cosmetic surgical centres and by application into cancer; hair removal; tattoo removal; resurfacing; others.
In March 2020, SemiNex Corporation, a U.S-based high-diode manufacturer, announced its collaboration with Dermal Photonics Corporation, a manufacturer of Nira skincare - a professional home laser technology. Through this collaboration, SemiNex Corporation plans to enhance home-based lasers for dermatology procedures. Dermal Photonics is a US-based medical device company.
Alternatives for laser skin treatment are expected to hinder the dermatology medical lasers market. The growing popularity of alternative methods of skin treatment such as the use of drugs, chemical treatment, microneedle and Botox surgery is expected to hinder the growth of the market.
For instance, as per the survey by eMediHealth of 64 dermatologists from October to November 2019, drug therapy such as Isotretinoin and retinoids have a higher success rate for acne treatment with 75% dermatologist preferring it over laser therapy. Thus, the demand for alternatives is expected to restrain the market growth.
Companies are increasingly investing in Picosecond Lasers for skin treatments other than tattoo removal as they have found their use in the treatment of acne, skin lightening and skin tightening.
For instance, in July 2018, Picocare 450, manufactured by Wontech, a South Korea company, received FDA approval to be used in dermatology procedures. In February 2019, LaserOptek received FDA clearance for its PicoLO picosecond laser device used for the treatment of scars and skin rejuvenation. Therefore, the use of picosecond lasers in dermatological processes is expected to be the new trend in the dermatology medical lasers market.
The growing demand for cosmetic procedures is expected to drive the dermatology medical lasers market. There has been an increase in the number of people opting for cosmetic procedures to enhance the appearance levels and treatment of defects on the skin.
As per the report of the American Society of Plastic Surgeons (ASPS), Americans spent $16.5 million on cosmetic procedures in 2018 and nearly 17.7 million cosmetic procedures were performed in 2018 up by 2% from 2017. Dermatology lasers are used in cosmetic procedures such as removal of fine lines, wrinkles, skin tightening, pigmented lesions, precancerous lesions, vascular lesions, tattoos, hair removal, acne scars, and others. Hence, the growing demand for cosmetic procedures among users aids in the growth of the dermatology medical lasers market.
Key Topics Covered:
1. Executive Summary
2. Dermatology Medical Lasers Market Characteristics
3. Dermatology Medical Lasers Market Size And Growth
3.1. Global Dermatology Medical Lasers Historic Market, 2015 - 2019, $ Billion
3.2. Global Dermatology Medical Lasers Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
4. Dermatology Medical Lasers Market Segmentation
4.1. Global Dermatology Medical Lasers Market, Segmentation By Device, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Dermatology Medical Lasers Market, Segmentation By End-users, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Skin Care Clinics
Cosmetic Surgical Centres
4.3. Global Dermatology Medical Lasers Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Dermatology Medical Lasers Market Regional And Country Analysis
5.1. Global Dermatology Medical Lasers Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Dermatology Medical Lasers Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
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