PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1424983
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1424983
Picosecond Lasers Market size was valued at USD 229.23 Million in 2022, expanding at a CAGR of 7.5% from 2023 to 2030.
A picosecond laser is a type of laser that targets exogenous ink particles and endogenous pigmentation with extremely brief pulse lengths. One kind of ultrafast laser that makes it easier to process data in a glass microfluidic system under suitable control is the picosecond laser irradiation source.
Picosecond Lasers Market- Market Dynamics
Increasing demand for treatment for various dermatological ailments, removal of tattoo to propel market demand
The market is anticipated to grow as a result of multiple factors, including a rise in tattoo removal procedures, acceptance of picosecond lasers as a treatment for a range of dermatological conditions, including solar lentigines and melasma, and rising awareness and uptake of non-invasive aesthetic procedures. Picosecond lasers also have shorter pulse durations than regular lasers, which lessen the chance of side effects and prevent heat buildup in the skin. It makes it possible for patients to receive treatments with less discomfort and downtime. It is anticipated that the increasing number of tattoo removal treatments will propel market expansion. The demand for picosecond lasers is driven by the millennial generation's propensity for tattoo regret.
The market growth of picosecond lasers is aided by the growing awareness of their potential to cure a range of dermatological diseases as well as the incorporation of many laser types into a single device. For example, using PicoWay 730nm to treat patients with cafe-au-lait macules showed a mean improvement of 26% to 50%, according to the American Society of Laser Medicine and Surgery, Inc., study done between April 2021-January 2023. Additionally, industry leaders are improving their well-known goods to boost effectiveness and address a range of dermatological issues.
Picosecond Lasers Market- Key Insights
As per the shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2023-2030)
Based on Technology, ND:YAG segment was predicted to show maximum market share in the year 2022, due to its effective use in dermatological conditions.
Based on Application segmentation, tattoo removal segment was the leading segment in 2022, due to major demand for removing tattoos & skin types.
Based on End-User segmentation, Med spas & aesthetic centers segment was the leading segment in 2022, mainly due to growing number of cosmetic procedures.
On the basis of region, North America was the leading revenue generator in 2022, owing to high number of cosmetic surgeries.
The Global Picosecond Lasers Market is segmented on the basis of Technology, Application, End-User, and Region.
The market is divided into two categories based on Technology: ND:YAG and Alexandrite. The ND:YAG segment dominates the market. Growing number of dermatological disorders is expected to spur segment demand.
The market is divided into five categories based on Application: tattoo removal, pigmented lesions, skin rejuvenation, melasma, and others. The tattoo removal segment dominates the market and is likely to maintain its dominance during the forecast period. The rising demand for skin rejuvenation for tattoo removal is thriving market growth.
The market is divided into three categories based on End-User: dermatology clinics, med spas & aesthetic centers, and others. The med spas & aesthetic centers segment dominates the market and is likely to maintain its dominance during the forecast period. The rise in the demand for medical spas is expected to contribute to segment growth.
Picosecond Lasers Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. This is explained by the general public's high acceptance rate of cosmetic surgery, technical developments in both surgical and non-surgical methods, and the accessibility and availability of qualified specialists for various dermatological diseases.
The market is highly competitive with the presence of large manufacturers The market participants are concentrating on a several strategic activities, including partnerships, collaborations, product upgrades, mergers and acquisitions, regional expansions, and new product launches. In addition, businesses expand their manufacturing facilities on a regular basis as a practical strategy to stay competitive in the market.
In June 2022, Cynosure, LLC announced an upgrade to its PicoSure Pro Device. The device featured a 50% rise in energy with adjustable fluence to surge patient turnover while aiding to treat dermatological conditions.